Manufacturing projected to grow in NE Ohio, report says
Manufacturing will continue to have a role in Ohio’s future.
That’s according to the quarterly Cleveland Plus Economic Review that looks at economic data for the 18-county Northeast Ohio region released by Team NEO — a private-sector, regional collaboration of Northeast Ohio’s major businesses, foundations, chambers of commerce, economic development organizations and JobsOhio.
“One misconception is that manufacturing died somewhere,” said Jacob W. Duritsky, vice president of strategy and research. “It is still the second-largest private employer.”
The report shows Northeast Ohio’s gross regional product for manufacturing grew 17 percent, and projections show it will grow an additional 25 percent over the next decade. Manufacturing is expected to be a $53.5 billion sector of the economy. Productivity, or output per employee, grew 92 percent from 1990 to 2015. The report projects it will grow another 63 percent over the next 10 years.
Although manufacturing employment opportunities declined in the region by 40 percent from 1990 to 2015, the area is expected to see an additional 49,000 jobs added in production occupations in the next 10 years.
Read the full story Monday in The Vindicator and on Vindy.com.