Team NEO Reports $2.5B in Capital Investments YTD

CLEVELAND – Team NEO reports that 146 projects are in the pipeline across the 18-county region represented by the economic development agency.

In issuing a new report, “Uniting to Build a Vibrant Regional Economy in Northeast Ohio”, the agency details results for 2020 through mid-October.

“Year-to-date, the region has had 44 project wins, 4,211 jobs created, $225.8M annual payroll and $2.5B in capital investment,” the report states.

Among the projects, which Team NEO describes as “advance technology adoption,” was helping GOJO Industries of Akron, find a “solution to a product challenge, bringing production in-house versus overseas.”

GOJO is a manufacturer of hand hygiene and skin care products.

Other 2020 results as described by Team NEO include:

  • Address the Talent/Demand Supply Gap: The Aligning Opportunities report is being utilized to inform conversation and influence solutions with organizations like College Now Greater Cleveland and Baldwin Wallace University Center for Innovation & Growth. Team NEO anticipates our new equity report, “Misaligned Opportunities,” will have a similarly powerful effect. Plus, the Talent Development Council is making an impact in business development opportunities.
  • Grow a Pipeline of Competitive Sites: Northeast Ohio is taking advantage of the new Ohio Site Inventory Program. We have three projects that have been awarded OSIP support, representing 1 million square feet of new and renovated space, with more projects in the works.
  • Promote Team NEO, the Region, and Network Performance: Team NEO launched the Navigating the Next Normal campaign.

In addition, the agency has distributed 4,500 protective equipment kits to small businesses.
Team NEO is a private, nonprofit economic development organization aligned with the JobsOhio network.

Copyright 2024 The Business Journal, Youngstown, Ohio.