2014 Regional Economic Development Efforts Yield 17,000 Jobs
Regional economic development activities helped to strengthen Northeast Ohio’s economy in the fourth quarter of 2014 by attracting or supporting the expansion of 16 businesses, including Jasco and Artiflex Manufacturing, LLC, reports the Q4 2014 Regional Economic Development Report.
The region’s economic development organizations had an active fourth quarter with 52 new projects and 37 site visits. The largest number of inquiries came from advanced manufacturing companies – which included a number of well-established companies from Germany and China – as well as the biohealth and shale-energy-serving industries.
In 2014, Northeast Ohio’s economic development organizations and JobsOhio helped support the creation and retention of 17,001 jobs, $1 billion in payroll and $1.3 billion in capital investment for the region. Of the total jobs, fewer than 2,000 came from new businesses attraction efforts.
“The results in this report underscore the importance of focusing our economic development resources on the growth of those businesses already in our region to accelerate the pace of job creation in Northeast Ohio,” said Grant Goodrich, Interim CEO of Team NEO. “Economic development organizations across the region continue to spur this growth by demonstrating to local businesses the benefits of operating and expanding in a region that offers robust supply chains and dynamic business communities in a geographically central location along key freight and logistics routes.”
The Regional Economic Development report provides the most complete snapshot of economic development results for Northeast Ohio. It is based on activity reported by JobsOhio, Team NEO, major city chambers of commerce and economic development organizations in 18 counties across Northeast Ohio.