The Prosperous Dashboard
The Northeast Ohio Region must continue efforts to increase access to educational and career opportunities to all residents in the region in a way that increases equitable economic growth and prosperity, which will be a significant driver of future growth potential.
What does it mean to have a prosperous, vibrant economy?
A vibrant economy creates equitable opportunities for more people to work, earn good wages and thrive. It also offers an environment that supports business startups and growth.
Why is the VEI focused on
prosperity?
Measuring prosperity adds a nuanced look at the impact of economic policy, strategy, and investment on individuals and communities, in addition to the traditional measures of broad economic growth. We can better understand the impact economic development has on people—and if we’re reducing disparities—by measuring prosperity.
Prosperous Dashboard > Payrolled Businesses
NEO Progress
Small- and medium-sized businesses continue to be the engine of Northeast Ohio. Growth in these establishments is critical to driving the economy forward. From 2018 to 2022, the number of payrolled business locations in NEO increased by about 7,000. And in 2022, NEO grew 2,748 new establishments which was over 27 times as many new establishments in 2018.
Regional Initiatives
Tracked Metrics
Measured by the change in number of payrolled business locations year over year. (Source: Lightcast)
Measures the number of payrolled business locations in a region. A payrolled business is a single physical business location used for reporting purposes in government data sources. A single company may have multiple payrolled businesses. (Source: Lightcast)
Prosperous Dashboard > Home Value
NEO Progress
Home prices have skyrocketed across the U.S. in recent years. Though Northeast Ohio homes are more affordable due to the lower cost of living, the region has still felt the market values increase. From 2018 to 2022, NEO’s median home value increased by 29% to $186,000. In just one year (2021-2022), NEO’s median home value surged by $23,000.
Regional Initiatives
Tracked Metrics
Measures the median home value for the region over time. (Source: U.S. Census Bureau ACS 5-year Data)
Prosperous Dashboard > State Business Tax
NEO Progress
A positive business climate serves as an attraction point for companies looking to build, expand, or relocate and is key to the pace of economic development. From 2018 to 2022, Ohio’s Business Tax Climate Ranking increased from 41st to 36th.
Regional Initiatives
Northeast Ohio has a 0% state tax on corporate income and offers competitive tax incentives such as the state’s Job Creation Tax Credit, and no sales tax on manufacturing equipment.
Tracked Metrics
Designed by the Tax Foundation, the Index is designed to show and rank how well states structure their tax systems. The taxes included in this index include corporate taxes, individual income tax, sales tax, property tax, and unemployment insurance tax. (Source: taxfoundation.org)
Prosperous Dashboard > Poverty Rate
NEO Progress
Northeast Ohio’s poverty rate has consistently increased since 2018, indicating an underlying issue of lack of access to basic resources, a detrimental impact for many members of the population.
Regional Initiatives
Tracked Metrics
The Census Bureau uses a set of income thresholds that vary by family size and composition to determine who is in poverty. If a family’s total income is less than the family’s threshold, then that family and every individual in it is considered in poverty. (Source: Census Bureau 5-Year ACS Table S1701)
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.”