By Matt Dolan, CEO, Team NEO
Welcome to the first official Team NEO blog. We’re launching this platform to share insights, successes, and opportunities shaping the economic future of our 14-county region. Over the past seven months, I’ve had the privilege of meeting with leaders, partners, and communities across Northeast Ohio. These conversations, along with the collaborative economic development that’s already underway, have strengthened my belief that our region has the assets, talent, and determination to compete and win on a national and global stage.
From large-scale investment announcements to grassroots economic development efforts, we’ve seen firsthand what happens when our counties align around a shared vision: we create momentum and economic vibrancy that benefits every community.
As the lead regional economic development organization across all 14 counties in Northeast Ohio, Team NEO’s mission is the retention, expansion and attraction of job and business opportunities. As the only JobsOhio network partner in Northeast Ohio, we drive growth at scale, leveraging each county’s unique strengths as part of a broader strategy to attract businesses, grow jobs, and “bend the curve” of economic performance for the entire region.
While Team NEO is the lead economic development entity in Northeast Ohio, we do not work alone. We align and amplify the efforts of local economic development organizations (LEDOs) and chambers of commerce, because strengthening local economies strengthens the region as a whole. In 2024, that approach led to 125 projects resulting in $1.1 billion in capital investment, more than 3,800 new jobs, and over $253 million in new annual payroll.
Northeast Ohio offers a combination of assets that are difficult to match anywhere else in the country:
- The cost of doing business in Northeast Ohio is 10% lower than the national average.
- Our region boasts 25 higher education institutions, fueling a strong talent pipeline.
- Cleveland and Akron both rank among the top 10 safest cities for natural disasters, leading to lower insurance rates.
- Ohio ranks#5 for doing business, #6 for overall business climate, and #1 in infrastructure and economic development investment.
- Ohio is consistently ranked in the top 5 for affordability and quality of life, making it a great location for businesses and individuals.
These advantages mean companies that choose Northeast Ohio not only find a cost-effective place to operate but also gain access to a skilled workforce, exceptional quality of life, and a safe, stable environment for their employees and their investments.
That’s progress, but we know we must go further and faster to achieve economic vibrancy. If we continue business as usual, we’ll see modest gains. But if we work hard to align our efforts, competing as Northeast Ohio vs. as individual counties, invest in regional talent growth, embrace innovation, and make bold decisions, we can “Bend the Curve” to dramatically improve the region’s growth trajectory. Working together, we believe we can:
- Create 36,000 more jobs than current projections by 2030
- Grow our GDP by $31.8 billion
- Attract and retain 41,000 more working-age residents
The choice is ours. If we don’t act, or if we act in silos, other regions will outpace us, capturing the jobs, investments, and people that could help our economy thrive. But if we work together with urgency, shared vision, and a commitment to collaborative economic growth, we can transform our economy in ways that benefit every community.
My first seven months have confirmed for me the potential is here, the partnerships are in place, and we’re already starting to execute on many of the programs that will benefit our region. Now it’s about strategic alignment, execution, and taking advantage of the opportunities in front of us.
Northeast Ohio’s best days are ahead of us. Northeast Ohio’s economic development ecosystem is well-positioned to lead the way.