By Katie Paul, Director, Site Strategies, Team NEO
The first half of 2026 delivered an encouraging signal for Northeast Ohio: companies are actively evaluating the region for investment, and more projects are moving from initial interest to serious consideration.
Through June, Team NEO tracked 61 business attraction opportunities involving site searches for companies evaluating Northeast Ohio. Nine advanced from the initial Request for Information (RFI) stage to site visits, resulting in 12 site visit events across the region.
But the numbers tell only part of the story. Knowing where the interest is coming from and how business leaders and site selection consultants evaluate communities offers important clues about what Northeast Ohio needs to compete for the next generation of investment.
A broader mix of in-demand industries
Advanced manufacturing remains the largest source of business attraction activity, accounting for 38 percent of the opportunity pipeline. But the pipeline is increasingly diverse, with activity across aerospace and defense, automotive, shale, energy and petrochemicals, military and federal, and information services and software, which each make up seven percent or more activity.
Many of the business attraction activity sectors align with national priorities around defense, domestic electronics production, grid modernization, critical minerals, and supply chain resilience. That creates significant opportunities for Northeast Ohio, given our region’s manufacturing heritage, industry expertise, and network of assets.
It also raises the bar for the sites competing for these investments.
The market is shifting back toward land
After two building-heavy years, 2026 business site selection criteria shifted back toward development-ready land. Land-only searches increased from 35 percent to 49 percent of activity, while building-only requests fell to 32 percent.
At the same time, we saw an uptick in searches for megaprojects: projects with a minimum of $1 billion in fixed-asset investments OR at least $75 million in new Ohio employee payroll; where large sites, heavy utility services, and a skilled workforce are required; and employees are paid at least 300% of the federal minimum wage. Ten projects requested 25 megawatt (MW) or more of power, reinforcing the need for large-scale, utility-ready sites capable of supporting increasingly sophisticated manufacturing operations.
Power grid infrastructure concerns are central to many of our business attraction conversations in Northeast Ohio, but companies are looking for certainty around all infrastructure, from transportation, to utilities, to communications. Understanding system constraints, documenting capacity, and communicating a realistic path and timeline to service can increasingly influence whether or not a site advances.
Companies are looking closely at communities, too
The site selection process goes beyond the physical process to include the surrounding community. During the first half of the year, 18 communities across six Northeast Ohio counties hosted business evaluations. Several businesses returned for multiple rounds, signaling deeper levels of due diligence and engagement, and deeper consideration of investment.
As companies move closer to an investment decision, they are evaluating whether the community they are considering can deliver what they need in a timely manner, minimizing barriers to success. That means looking at zoning, development approvals, public records, and community sentiment, as well as whether timelines and infrastructure commitments are realistic and predictable.
Being “shovel ready” is no longer enough. Companies want their communities to be a true partner in their business expansion plans.
Developing Opportunities is helping Northeast Ohio compete
These findings reinforce why Team NEO and our partners launched Developing Opportunities.
The initiative takes a proactive, data-driven approach to identifying, preparing, and positioning high-potential sites across Northeast Ohio. Rather than waiting for an RFI to arrive, we can use what we learn from active projects to better understand market demand and help communities strengthen the sites and infrastructure that companies need. If you’re not already using Team NEO’s Developing Opportunities tools to help your community close deals, click here for more.
The first half of 2026 shows that Developing Opportunities work is translating into real opportunities. Companies and site selection consultants aren’t simply requesting information for sites that match their site selection criteria. They are advancing projects, visiting sites, and, in some cases, returning for additional evaluation.
It also gives us a clear roadmap for what comes next. As demand shifts toward larger, development-ready sites and infrastructure-intensive projects, Developing Opportunities can help communities focus investments where they will have the greatest competitive impact. We want to ensure Northeast Ohio has the right sites, prepared for the opportunities the market is bringing to Northeast Ohio.
The full Developing Opportunities: By the Numbers 2026 report, available in February 2027, will take a deeper look at which of these trends persist, which projects advance, and what they tell us about Northeast Ohio’s competitiveness.