The Competitive Dashboard
These output measures rely on improvement in many of the other enabling pillars of the VEI to see meaningful progress. We anticipate that growth and improvements in the talented, equitable, innovative, and resilient pillars will create a vibrant economy—for all Northeast Ohio residents.
What does it mean to have a competitive, vibrant economy?
A vibrant economy outperforms comparable regions and markets in gross domestic product, total employment, per capita income, and labor force participation. It also has a talented and diverse workforce, earning family-sustaining wages and capable of filling in-demand jobs.
Why is it important to have a
competitive, vibrant economy?
A competitive, vibrant economy demonstrates economic progress as a whole and for individuals—making Northeast Ohio an attractive destination for business expansion and retention, and talent seeking to advance their careers.
Competitive Dashboard > Gross Domestic Product
NEO Progress
GDP has long been a strength for the region, however recent slowdowns suggest we have an opportunity to do more. Northeast Ohio is working to ensure our manufacturing base, responsible for nearly half of the region’s direct and indirect output, continues to diversify and grow. NEO GDP has fully recovered and exceeded from the lows of 2020, and in 2022 tracked $257 billion in total.
Regional Initiatives
Tracked Metrics
Measures the economy and its growth, defined as the total market value of the final goods and services produced. GDP helps to measure the pace of economic growth or decline, affecting jobs, businesses, and investments. (Source: U.S Bureau of Economic Analysis)
Competitive Dashboard > Per Capita Income
NEO Progress
Per capita income has seen steady growth for the past several years. To increase this even more over time, we will need to better align the working population with family sustaining jobs.
Regional Initiatives
Tracked Metrics
The total personal income of a group of people divided by the total population of that group. This measure paints an accurate picture of how the economy is growing based on the economic prosperity of individuals, as it accounts for population size and wealth distribution. Per capita income can clue in to various metrics, such as an area’s affordability, ascertain an area’s wealth or lack thereof, or even signal to companies selling goods looking to settle in markets with higher levels of disposable incomes. This metric does have limitations as it does not account for inflation, savings, wealth, or count out non-working children from its calculation. (Source: U.S. Bureau of Economic Analysis & Investopedia)
Competitive Dashboard > Labor Force Participation Rates
NEO Progress
Labor force participation rates (LFPR) matter a great deal because they signal how many individuals in the community are working or actively seeking employment. While Northeast Ohio outpaces the U.S. in this metric by a small margin, we are still several percentage points behind many peer markets, which indicates strong potential to connect more residents to the labor force.
NEO’s LFPR has remained at 63% since 2018, which is slightly above the U.S. average at 62% in 2022.
Regional Initiatives
Tracked Metrics
Calculated by the total labor force divided by the total working age population and used to measure the percentage of the population that is working or actively looking for work. A higher rate translates to a higher percentage of people working. (Source: Lightcast)
Competitive Dashboard > Employment
NEO Progress
Team NEO helps bring jobs to the region by connecting growing companies to support like financing, state tax credits and grants, training and higher education, infrastructure, and more.
As of 2022, employment in Northeast Ohio has not yet fully rebounded to pre-pandemic levels but it is increasing and resides at 1.8 million. Unemployment has dropped from 6.3% (2018) to 5.4% (2022).
Regional Initiatives
Tracked Metrics
Measures the total number of individuals that receive a wage or salary or are self-employed at the time of the Census survey reference week. Employment is critical to economic development, as it creates income and demand for products and services. (Source: Lightcast)
Explore more now.
Each pillar plays a critical role in shaping Northeast Ohio’s economy—but they don’t stand alone. See how talent and equity are connected, how innovation supports resilience, and how all four build competitiveness and prosperity.
Unlock the Data. Shape the Future.
With over 600 data points tracking talent, equity, innovation, resilience, competitiveness, and prosperity, the Vibrant Economy Indicators tool empowers business leaders, policymakers, educators, and economic developers to make informed, strategic decisions.
Want to review the data in detail? Fill out the form below and a member of the Team NEO research team will follow up to discuss how we can support your needs. Let’s work together to Bend the Curve for Northeast Ohio.
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Thank you for your interest in the Team NEO Vibrant Economy Indicators data. The economic data has been compiled and calculated by Team NEO. When sharing publicly, please reference: “Data sourced from Team NEO, www.TeamNEO.org, ©2025.”