Northeast Ohio Manufacturing Recovering from Great Recession
When recession struck the United States in 2007, manufacturing employment, output and productivity began declining across the nation, including in Northeast Ohio, a region built on a rich history of manufacturing. But today, with the recession nearly nine years behind us, Northeast Ohio is rebounding – outpacing the U.S. in manufacturing productivity and nearly matching its pace in output. NEO manufacturing employment has rebounded as well, although it will likely never reach pre-recession levels.
As regions across the U.S. strive to recover from the negative economic impacts of the 2007-2009 U.S. recession, Northeast Ohio is making strides toward restoring its manufacturing momentum. With 16% growth in productivity, and output nearly matching pre-recession levels, the region continues to demonstrate that manufacturing remains an essential component of the economy.
- Employment Grows in Several Key Sectors
- NEO has post-recession growth in six sectors: beverage and tobacco products; food; petroleum and coal products; leather and allied products; apparel; and wood products
- NEO Post-recession Manufacturing Output Grows in Seven Sectors
- Output in seven sectors have grown post-recession, including computer and electronic products, petroleum and coal products (due in large part to Utica Shale activity), as well as beverage and tobacco products
- High-Technology Manufacturing Sectors Projected to Grow
- NEO’s output in the next five years for the computer and electronic products sector is projected to grow 41% compared to the U.S. at 33% for this same sector
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