Why Cleveland: Manufacturing into the Future

September 2, 2015 | By Business Wire News

CLEVELAND

Manufacturing remains the largest sector of Northeast Ohio’s economy and a primary driver of the region’s economic growth. From 1990 to 2015, gross regional product (GRP) grew by 17 percent, making manufacturing a $43.6 billion industry; during this timeframe, productivity also increased 92 percent in Northeast Ohio. Looking ahead, the industry is expected to grow 25 percent in the region over the next 10 years. Given ongoing manufacturing innovations, 49,000 job openings in production occupations are estimated to emerge in Northeast Ohio over this time, many of which will require technological expertise. With a diversified base of manufacturers and the innovation to stay on the cutting edge of the industry, Cleveland and Northeast Ohio will see benefits across the region.

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“Cleveland has built upon its rich history as a center of manufacturing excellence and innovation,” said Thomas L. Williams, CEO of Parker Hannifin Corporation. “The availability of talent, opportunities to partner with leading educational institutions and a robust supply chain are just some of the reasons we have called Cleveland home for almost 100 years and why we continue to invest here. We are proud to partner with the City and other local organizations to support our community and to help Cleveland to continue to gain momentum.”

About Cleveland Plus

Cleveland Plus is Northeast Ohio’s 18-county business growth region with a $216 billion economy, 4 million people and 2 million workers. Learn why Cleveland Plus is an ideal location for business location and expansion.

About Team NEO

Team NEO is a regional, private-sector organization that markets the Cleveland Plus region to the world and collaborates with its partners and others to attract new businesses and help those that are here grow. Learn more about Team NEO.

SOURCE:
Team NEO:
http://www.teamneo.org/NEWS%20AND%20REPORTS/Quarterly%20Economic%20Reviews/2015.aspx
(April Review)