NEO Regional Economic Trends 10/21/2014

The NEO System: Metro and Regional EDOs

Enhance Northeast Ohio’s Competitive Advantage Team NEO Build Regional Teamwork 1 Regional Marketing 2 Business Attraction 3 Regional Business Development JobsOhio Linkage 4 Functions Purpose

4 Partners/Funders: The Greater Team

The JobsOhio Regional Network 5

The Northeast Ohio Economy 18 counties 4 million people 2+ million person workforce Gross Product of nearly $200 billion (slightly smaller than Ireland) 19 Fortune 1000 Companies 6

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The NEO Economy Historically: Two Decades of Transition

Manufacturing Hit Hard, NEO Diversifies 9

: Strong Growth in GRP 10

NEO Performing More Like the US 11

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Encouraging Trends in Education 35 percent of the region's 25 to 44 year olds hold a college degree, a rate well above the national norm We rank 7th nationally, ahead of San Francisco, Chicago, Seattle and Austin, for professional and graduate degrees From 2003 to 2012, per capita income in the region rose from $33,359 to $44,775 We gained about 63,000 college-educated residents from 2002 to 2012, and lost 74,000 people with no such degree. 14

The NEO Economy of the Future: Where Will Growth Come From?

Strong Healthcare Growth, Manufacturing Flat 16

Manufacturing Continues to Drive GRP 17

18 150,000 new jobs projected in next decade

780,000 job openings by 2022

Healthcare, Business and Finance are leading growth sectors 20

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