CLEVELAND STATE Youngstown ranks last for business innovation

Youngstown ranked last in three of eight categories evaluated.
YOUNGSTOWN -- Cleveland State University ranked the Youngstown metropolitan area last for business and innovation climate among 36 areas that were studied.
The study by the university's college of urban affairs used these eight indicators: Small Business Innovation Research and Small Business Technology Transfer awards, venture capital, initial public offerings of stock, high-tech employment share, research and development funding, patents, corporate headquarters and business costs.
The report says these indicators "provide different ways of capturing a region's propensity to conduct research, transfer basic research to development, innovate, promote entrepreneurship and develop and sustain a technology-based economy.
To be included in the study, an area had to be similar to Cleveland in population or labor force. Each area also had to meet one of these criteria: similar industry structure, be in the Midwest or be high-growth.
Among the eight categories, Youngstown ranked last in small business awards and patents and received the lowest ranking in initial public offerings along with many others. It ranked next to last in research and development funding.
Youngstown's best ranking was in the cost of doing business, where it was 26th. Despite being ranked last in cost of doing business, San Diego was the top-ranked area overall because it led most of the other categories. Following were Seattle, Minneapolis, Austin, Texas, and St. Louis.
The rankings of Ohio cities were: Akron, 29; Canton-Massillon, 35; Cincinnati, 10; Cleveland, 11; and Columbus 15.