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Product development at most companies is an evolutionary process, but some manufacturers have found the leap to an entirely new product line a profitable move.
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Northeast Ohio is trending closer to the U.S. in this current recession than in the 1981 recession, according to the most recent edition of Team NEO’s quarterly Cleveland Plus® Economic Review released today. Compared to the 1981 major recession in which Northeast Ohio significantly lagged behind the U.S. in employment and GRP, these indicators in the 16-county Cleveland Plus region of Northeast Ohio are trending closer to U.S. averages in this recession. The Review indicates that this change is likely due to Northeast Ohio’s change in industry mix. Nearly 30% of the region’s GRP depended on the manufacturing industry in 1981, compared with 12% today. Today, the Cleveland Plus region’s economy is more diversified with increases in Healthcare, Headquarters, Professional, Scientific and Technical Services, and other industries.
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PNC Executive, Paul Clark, and Cleveland Clinic CFO, Steven Glass Elected Trustees
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Team Northeast Ohio (Team NEO) released the latest edition of the quarterly Cleveland Plus® Economic Review today with a focus on the region’s growing aerospace-related sector. Findings include that Northeast Ohio GRP for the sector has grown 59% since 1993, now representing 24% of all manufacturing. With significant regional growth in the industries that supply to the aerospace sector, the collective $8 billion cluster of these industries is helping to transition the Cleveland Plus regional economy
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Rolls-Royce announced on Monday that it will expand its fuel cell research division in North Canton, a move that public officials said will create 60 jobs and retain 32.
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April Miller Boise, Dr. Roy Church, Ray Dalton, Joe Lopez and Thomas Murphy join board as trustees
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VXI plans to open its call center Oct. 1, starting with 150 employees, including some 100 inbound sales agents for “a major satellite television provider,“ information technology and human resources staff, and local management.
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The company will expand its Elyria plant over the next three years for the work, said Prashant S. Chintawar, manager of the lithium-ion division at BASF. Ultimately, this will enable BASF to produce the materials for batteries that go into "everything from hybrid-electric to full electric vehicles," Chintawar said.
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Ashland officials are in a delighted lather -- Barbasol is coming to town. Barbasol plans to open a 78,000-square-foot plant by April, employing 30 within three years and up to 75 more by 2016, officials said.
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Team Northeast Ohio (Team NEO) released the latest edition of the quarterly Cleveland Plus® Economic Review today with a focus on the region’s growing Professional, Scientific and Technical (PS&T) Services sector. Findings include that Northeast Ohio GRP for the sector (including Scientific Research & Development and Scientific and Technical Services) has grown 79% since 1993, outpacing the nation’s average in several industries. Fueling this growth is the region’s strong heritage of invention, a strong base of significant research institutions, and a growing entrepreneurial sector.