Examining Inclusive Growth: Minority-Owned Firms in the Cleveland-Elyria MSA Brief

This report provides insight on minority business ownership in the 5-county Cleveland-Elyria Metropolitan Statistical Area (Cleveland MSA) using data from the 2007 and 2012 U.S. Census Bureau Survey of Business Owners. Minority-owned businesses in the Cleveland MSA represented 20% of all firms in 2012. The majority of these firms, 71%, were owned by African American entrepreneurs (24,618), while 14% (4,959 firms) were Asian-owned. Overall, Asian firms have higher combined sales than African American firms ($1.9 billion versus$972 million); resulting in higher sales per firm. Targeted public policies assisting in revenue generation in the African American business community can increase wealth and economic inclusion

Regional Economic Indicators: Affordability and Quality of Life

This study aims to contrast affordability and quality of life as factors of attraction and retention of workforce and businesses in Northeast Ohio’s metro areas with comparable regions across the country. The study is limited to reliable and available data for 36 metropolitan areas from 27 states. As presented, this study serves two purposes: it allows us to compare Cleveland to other metro areas in selected indicators,1 and it creates a valuable database of variables and indicators on affordability and quality of life in 36 metro areas

Oil and Gas as a Driver of the Regional Economy: Updates

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. The Oil & Gas GRID accounts for less than 1% of total NEO employment but 3% of overall output & 7% of GRIDs output ($6 billion). It is a fast-growing and emerging economic base, with double-digit growth in output, growing specialization, and one of the highest employment multipliers. However, the industry cluster needs to increase in size and scale to impact overall regional performance

Examining Inclusive Growth: Minority-Owned Firms in the Cleveland-Elyria MSA Brief

This report provides insight on minority business ownership in the 5-county Cleveland-Elyria Metropolitan Statistical Area (Cleveland MSA) using data from the 2007 and 2012 U.S. Census Bureau Survey of Business Owners. Minority-owned businesses in the Cleveland MSA represented 20% of all firms in 2012. The majority of these firms, 71%, were owned by African American entrepreneurs (24,618), while 14% (4,959 firms) were Asian-owned. Overall, Asian firms have higher combined sales than African American firms ($1.9 billion versus$972 million); resulting in higher sales per firm. Targeted public policies assisting in revenue generation in the African American business community can increase wealth and economic inclusion

Regional Economic Indicators: Human Capital and Workforce

The report is prepared by the Center for Economic Development at Cleveland State University’s Maxine Goodman Levin College of Urban Affairs as a part of the regional indicators project under the Presidential Initiative Program. The study examines human capital and labor force in 36 regions across the country: 32 metropolitan areas of comparable size to the Cleveland metropolitan statistical area (MSA) and three smaller MSAs in Northeast Ohio — Akron,1 Canton, and Youngstown