Cleveland State Awarded $300K to Study NE Ohio Economy

CLEVELAND – The George Gund Foundation has awarded a $300,000 grant to Cleveland State University for a two-year analysis of northeastern Ohio’s economy.

Managed by the university’s Center for Economic Development, the study will examine the area’s four metropolitan statistical areas, including Youngstown.

Working with Cleveland State will be an advisory group including the Cleveland Federal Reserve Bank, JobsOhio, Team NEO, Manufacturing Advocacy & Growth Network, Fund for Our Economic Future and the research and strategy arms of regional universities.

The study will look at the performance of traded sectors and innovation in driver clusters, including advanced manufacturing, technology services and logistics. It will also assess the region’s economic challenges – such as inclusive economic growth and underrepresented minorities – and how to best face those challenges.

“[The region] is uniquely prepared to play a significant role in the emerging innovation economy, but we need better data on how best to take advantage of these strengths, address our challenges and target the next generation industries that provide the best opportunities for growth,” said Roland Anglin, dean of Cleveland State’s Levin College of Urban Affairs, in a release. “This effort will allow the region to think strategically and analytically about the economic indicators that are needed to accomplish this goal, and ultimately, develop better policies to ensure future economic growth.”

The Levin College houses the Center for Economic Development.

“Using old data to assess the current state of the region is not optimal and new indicators need to be developed to better measure the current economic environment and help us develop better solutions to the challenges we face,” added Center for Economic Development director Iryna Lendel.

The center was founded in 1985 and provides technical assistance, applied research and information to assist economic development efforts in northeastern Ohio. It is designed a Regional University Research Center by the Department of Commerce’s Economic Development Administration.

The nonprofit George Gund Foundation was established in 1952 “with the sole purpose of contributing to human well-being and the progress of society.”

Copyright 2024 The Business Journal, Youngstown, Ohio.