Northeast Ohio Front Runners: Groups of Regional Industry Drivers (GRIDs)

The economic trends in Northeast Ohio (NEO) over the last 20 years are typical of the Midwest region, with a positive increase in output outpaced by the state of Ohio, and the United States The double recessions of 2001 and 2007-2009 show a deeper output decline in NEO than in comparable Midwest regions and the United States Traditionally, industries with high regional specialization that have a competitive advantage and drive regional economies are called economic base industries Groups of Regional Industry Drivers (GRIDs) are part of the economic base of a regio

The Future is Now: Akron’s Dynamic and Inclusive Economy

The economic trends in Northeast Ohio (NEO) over the last 20 years are typical of the Midwest region, with a positive increase in output outpaced by the state of Ohio, and the United States The double recessions of 2001 and 2007-2009 show a deeper output decline in NEO than in comparable Midwest regions and the United States Traditionally, industries with high regional specialization that have a competitive advantage and drive regional economies are called economic base industries Groups of Regional Industry Drivers (GRIDs) are part of the economic base of a region

Local Front Runners: GRIDs in the 4 Northeast Ohio Metropolitan Areas

Northeast Ohio (NEO) is an 18-county region which encompasses four different Metropolitan Statistical Areas (MSAs); MSAs commonly refer to the labor market of a given area (for this study: the Akron MSA, the Canton-Massillon MSA, the Cleveland-Elyria MSA, a part of the Youngstown-Warren-Boardman, OH-PA MSA) and remaining rural counties (“non-MSA counties”). Within NEO, these four distinct metro areas have different industry structures. Investigating the internal dynamics of each region’s economic driver industries—what we call Groups of Regional Industry Drivers (GRIDs)—can inform local leaders and economic development practitioners of expanding and emerging industries to foster regional growth. Economic trends in NEO over the past twenty years are typical of the Midwest region, with a positive increase in output outpaced by the state of Ohio and the United States. The two recessions of 2001 and 2009 showed deeper output declines across NEO than in comparable Midwest regions and the United States. The goal of this research is to provide up-to-date, data-driven insights for competitive industries in each of the four Northeast Ohio MSAs. This research seeks to update previous research conducted for the Regional Economic Competitiveness Strategy in 2011 and to provide understanding into the economies of each area

Economic Vitality Index: Mapping Ohio\u27s 88 Counties

Along with the unimaginable death of hundreds of thousands, the COVID-19 pandemic has caused economic hardship for many more millions of Americans and hundreds of thousands of businesses, large and small. After experiencing the longest economic expansion in U.S. history, we are now faced with an unprecedented contraction in modern times as workers see their hours reduced – or jobs eliminated – and businesses scale down operations or close their doors altogether. As part of its effort to aid in responding to Ohio’s economic downturn resulting from the pandemic, the Center for Economic Development (Center) is tracking the overall economic vitality of counties in Ohio. A first step in commencing this research is to establish a baseline evaluation of performance prior to the pandemic’s start as a benchmark measurement to compare against post-pandemic. This brief illustrates 2019 baseline data and will be updated annually as economic stimuli, policy responses to the pandemic, and their economic impacts progress

Local Front Runners: GRIDs in the 4 Northeast Ohio Metropolitan Areas

Northeast Ohio (NEO) is an 18-county region which encompasses four different Metropolitan Statistical Areas (MSAs); MSAs commonly refer to the labor market of a given area (for this study: the Akron MSA, the Canton-Massillon MSA, the Cleveland-Elyria MSA, a part of the Youngstown-Warren-Boardman, OH-PA MSA) and remaining rural counties (“non-MSA counties”). Within NEO, these four distinct metro areas have different industry structures. Investigating the internal dynamics of each region’s economic driver industries—what we call Groups of Regional Industry Drivers (GRIDs)—can inform local leaders and economic development practitioners of expanding and emerging industries to foster regional growth. Economic trends in NEO over the past twenty years are typical of the Midwest region, with a positive increase in output outpaced by the state of Ohio and the United States. The two recessions of 2001 and 2009 showed deeper output declines across NEO than in comparable Midwest regions and the United States. The goal of this research is to provide up-to-date, data-driven insights for competitive industries in each of the four Northeast Ohio MSAs. This research seeks to update previous research conducted for the Regional Economic Competitiveness Strategy in 2011 and to provide understanding into the economies of each area

Good Jobs: Employment and Wages in Groups of Regional Industrial Drivers

Talent attraction and workforce development are urgent topics in Northeast Ohio, as many companies are finding it challenging to locate and attract necessary workers for open jobs. This dilemma spans across sectors: from the manufacturing industry finding appropriately skilled labor to professional services finding experienced IT staff. This research analyzes employment dynamics among Northeast Ohio (NEO) industries, so policymakers and economic development practitioners can utilize our findings and design programs to improve the economic conditions in the region. This report builds on The Center for Economic Development’s prior work, which identified NEO’s Groups of Regional Industry Drivers (GRIDs). These sectors are industries with strong productivity, growing output, high regional specialization, and local competitive advantage. GRID industries connect via supply chains; thus, GRIDs identification focuses on classifying industries that contribute the most to wealth creation. The following report discusses the jobs that are created by GRIDs and their supply chain industries to put forward a relevant discussion on these industries’ futures

Youngstown Economy: Recession and Path to Recovery

This brief seeks to identify opportunities for the Youngstown economy to recover from the COVID-induced economic recession