Team NEO Reports 1,600 New Jobs in 6 Months

CLEVELAND – Team NEO, the economic development agency that represents 18 counties, has issued a six-month “Performance Impact Midyear Report.”

“We at Team NEO are proud of the results [that] we and the Northeast Ohio regional economic development network have generated so far in 2022,” writes Bill Koehler, CEO of Team NEO, in a letter introducing report.

The agency says it has worked on 37 projects that will create more than 1,600 jobs and represent more than $85 million in annual payroll as well as more than $200 million in capital investment.

“In addition to our region’s latest projects, we expect that Intel’s new, Ohio-based, multi-billion-dollar computer chip factory, announced in January, will bring significant benefit to Northeast Ohio, as our strengths in innovation position us well to capitalize on related high-tech developments,” Koehler says.

As of June 30, Team NEO reports 140 projects are “in the pipeline, with the possibility of more than 16,600 new jobs with an annual payroll of more than $478 million, and $4.5 billion in capital investment.”

The midyear report is divided into “four core pillars,” which comprise the three-year strategy Team NEO launched in January.

The core pillars are expanding the industry based, addressing the talent supply/demand gap, creating a pipeline of competitive sites and engaging and promoting the region.

To download the report, click here.

Published by The Business Journal, Youngstown, Ohio.