CED

Center for Economic Development


Center in the Press

One billion dollar impact of CareSource in Ohio
CareSource has a significant impact on Dayton, Ohio, and beyond:

A press release from CareSource.com cites the Center's study on the Economic Impact of CareSource on Dayton and Ohio. Our research indicates that every dollar spent by CareSource – Ohio's largest Medicaid managed care plan, and second largest in the US – supports 90 cents of output in the regional economy and another 30 cents in the state economy. All told, CareSource employed 8,407 part-time and full-time jobs in Ohio as of 2019, resulting in a total of $965 million in economic output and $42 million in state and local taxes.


Will hosting the DNC pay off for these Milwaukee neighborhoods?
Economic impacts of hosting political conventions:

An article by Patrick Sisson for Curbed – a New York Magazine affiliate focused on real estate and urban design – cited the Center for Economic Development's research on the economic impact of the 2016 Republican National Convention in Cleveland while trying to predict the economic outcomes of the Democratic National Convention in Milwaukee this past year. The Center's research, as noted in the article, found that while the financial impact of $142 million brought in by the RNC was large, it was still 30 percent below the estimated value. The number of visitors to Cleveland for the event was also short by 11 percent of projected values.


An investment in NASA is an investment in Northeast Ohio
NASA's economic impact on Northeast Ohio:

In a guest column piece on Cleveland.com, Marla Pérez-Davis, the recently appointed director for the NASA Ohio Center, described the economic impact NASA has on the Northeast Ohio region. The director quoted the Center for Economic Development's report “The NASA Glenn Research Center: An Economic Impact Study Fiscal Year 2018” to make the case that an investment in NASA is an investment in Northeast Ohio. The findings in the report include an economic impact of over $1.4 billion per year, sustaining 7,000 local jobs, and generating over $750 million in local economic activity.


How did American CEOs get so rich?
How stock buybacks impact local markets:

A video report from Vox investigates how American CEOs have managed to gain wealth in periods of economic downturns. The video cites our Lordstown GM Plant Closure Economic Impact Study, in which our researchers found that one loss of a job at GM's Lordstown plant triggers three more job losses among suppliers and other local businesses.


Closing of Chevrolet plan is latest blow in a slow, painful decline in Lordstown
Effects of Lordstown plant closure linger:

An article in The Guardian illustrates the lasting effects of the Lordstown Chevrolet Cruze Production Plant closure. The report cites the Center's Economic Impact Study in which researchers found that the plant's closure will have a direct result in the loss of $8 billion for the regional economy. The Guardian article also cites direct quotes from individuals who lost their jobs from the closure, and the personal toll it is causing.


Dance: In Cleveland
Cleveland's dance sector is vibrant & growing:

A press release on the dance sector in Cleveland illustrates the growing positive economic impacts of Cleveland's dance economy. The announcement cites a research brief conducted by the Center for Economic Development in conjunction with Arts Cleveland (formerly the Community Partnership for Arts and Culture). The report found that this sector was responsible for 396 jobs, $28.4 million in direct economic output, with $7 million in labor income, $11.2 million in regional contribution to gross domestic product, and $2.1 million in taxes.


What happens to a factory town when the factory shuts down?
The story of the Lordstown GM plant’s closure:

The New York Times cited the Center's Lordstown GM Plant Closure Economic Impact Study in looking at how the city of Lordstown was affected by the loss of the Chevy Cruze Production Plant. Considering the city's below average wage earnings since the 2008 financial crisis, the loss of 8,000 jobs and $8 billion in economic activity within the regional economy due to the plant closure adds to Lordstown's financial burdens.



Economic impacts of public transit in Greater Cleveland:

In a report from News 5 Cleveland, Dr. Iryna V. Lendel discusses the Center for Economic Development's findings on the economic impacts and contributions of the Greater Cleveland RTA on the local economy. All told, the GCRTA provides an annual benefit of $322 million to Cuyahoga County. The study also noted that public transit investment closely correlates with increased property values, decreased poverty, and greater employment opportunities.