The Northeast Ohio Region’s visual representation of challenges and opportunities in six categories – Talented, Equitable, Innovative, Resilient, Competitive and Prosperous.
The Vibrant Economy Indicators (VEI) is a set of over 600 data points that showcase
Northeast Ohio’s current economic opportunities and challenges.
The Vibrant Economy Indicators (VEI) provide a detailed and accurate measure of our economy, community strength, and individual prosperity across all demographics while measuring the same metrics in 12 other markets in the United States. With this data, the Northeast Ohio Region is poised to identify gaps, implement solutions and “Bend the Curve” to create a stronger, more vibrant Northeast Ohio economy by 2030.
We compare our economic indicators data to the following regions.
Aspirational: Austin, Boston, New York, and San Francisco | Competitive: Atlanta, Chicago, Detroit, and Houston | Nearby: Cincinnati, Columbus, Indianapolis, and Pittsburgh
The Talented Dashboard
A vibrant economy has a growing, diverse population with equitable opportunities for education, training, and good-paying, in-demand jobs in our region.
Talent is becoming the critical differentiator of regions that are growing and prospering. One of the most powerful ways to positively impact the overall economy is to increase the pool of educated, trained, and talented workers in your region. Growing the population with a bachelor’s degree leads to significantly higher rates of growth in GDP, wages, and employment.
- Completions to Job Postings
- Educational Attainment
- Percent of Population 25-34 Years Old
- Population Change
Educational Attainment
Bachelor’s+ completion rate has risen to 30.8% in 2022, from 28.3% in 2018.
(Lightcast)
Talent Retention
Fifty-one percent of all 2022-2023 graduates from Northeast Ohio institutions chose to remain in Northeast Ohio.
(Lightcast)
The Equitable Dashboard
A vibrant economy reduces disparities in educational attainment, access to in-demand jobs, and economic outcomes for all.
Equity is essential to building a vibrant economy. Research shows that increasing diversity in the workforce leads to innovation and overall economic growth for businesses and communities, as well as individual prosperity.
- Median Household Income by Race
- Educational Attainment by Race
- Unemployment by Race
- Internet Access by Race
Connectivity
Access to broadband internet subscriptions increased for most race groups, with Black or African Americans access growing by nearly 10%.
(Lightcast)
Women’s Degree Growth
Women saw more than a 3% increase in Bachelor’s+ educational attainment.
(Lightcast)
The Innovative Dashboard
A vibrant economy has businesses with a high adoption rate of new technologies and an environment that encourages start-ups.
Innovation can be a powerful economic driver if we understand the nature of our existing assets and if we make strategic investments in those assets over time. Strategic investments in areas like smart and additive manufacturing are critically important to making our market more competitive and more attractive as a destination for business expansion and retention.
- Research & Development Total Employment
- Research & Development Employees as Percentage of Total Employment
- Loans to Businesses Under $1M Revenue
- Average Loan Amount to Businesses Under $1M Revenue
R&D Employment
In 2022, R&D workers made up 2.9% of the total workforce.
(Lightcast)
Small Business Loans
In 2022, there were 8,000 more loans given to businesses under $1M revenue than in 2018.
(Federal Financial Institutions Examination Council, Community Reinvestment Data).
The Resilient Dashboard
A vibrant economy is forward-looking, helps address the core needs of businesses as they grow and innovate; and helps companies to understand why a market is a good, predictable, and safe place for long-term investment.
Resiliency helps us think about our competitiveness relative to the infrastructure investments we make over time. It has a direct impact on our ability to cultivate a talented and diverse workforce and helps companies think differently about the future. And, it helps people and companies withstand economic downturns.
- Number of Declared Natural Disasters
- Industrial Vacancy Rates
- Number of Days with Air Quality Index over 100
- Number of Direct Flight Destinations
Natural Disasters
Between 2018-2022, Northeast Ohio had 0 (zero) natural disasters, making it an attractive location for businesses with low risk tolerance to invest.
(FEMA)
Industrial Vacancy Rate
Northeast Ohio’s industrial vacancy rate dropped from 3.4% in 2018 to 3% in 2022 highlighting the opportunity to invest in more developable sites.
(Cushman & Wakefield)
The Competitive Dashboard
A vibrant economy outperforms comparable regions and markets in gross domestic product, total employment, per capita income, and labor force participation.
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.
- Gross Regional Product
- Per Capita Income
- Labor Force Participation Rate
- Total Employment
Per Capita Income
Per capita income has risen year over year, increasing from $48,000 in 2018 to $57,000 in 2022.
(US Census Bureau)
GDP
Northeast Ohio’s GDP in 2022 was $257B in total, fully recovered from the drop in GDP due to the Covid-19 pandemic in 2020.
(US Bureau of Economic Analysis)
The Prosperous Dashboard
A vibrant economy is prosperous when it creates equitable opportunities for more people to work, earn good wages and thrive. It also offers an environment that supports business startups, business growth and strengthens communities.
Measuring prosperity adds a nuanced look at the impact of economic policy, strategy and investment on individuals and communities. We can better understand the impact economic development has on people—and if we’re reducing disparities—by measuring prosperity.
- Number of Payrolled Business Locations
- Number of New Establishments
- Percent Change of Payrolled Business Locations
- Small Business Tax State Ranking
New Business
In 2022, Northeast Ohio saw 2,748 new establishments, more than 27x as many in 2018.
(Lightcast)
Home Value
Home values increased by 29% between 2018 and 2022.
(US Census Bureau)
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.”