MAGNET releases new CSU Manufacturing Brief
Economic study shows three of the five largest manufacturing industries increased both employment and gross regional product between 2004 and 2006
Report produced by CSU's Center for Economic Development indicates several major manufacturing industries growing
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“The general loss of manufacturing jobs in the region masks the fact that certain industries experienced gains in some economic measures. It’s important to note that the industries that increased both employment and gross product account for almost 45 percent (135,900 jobs) of the total manufacturing employment in Northeast Ohio and that these same industries also increased wages during this same time,” said Dr. Ziona Austrian, Director of the Center for Economic Development. The Manufacturing Brief was authored by Dr. Afia Yamoah and is available at: http://urban.csuohio.edu/economicdevelopment/publications It shows that in 2006 the manufacturing sector in Northeast Ohio accounted for over 16 percent of the region’s total employment, produced 19.5 percent ($32.8 billion) of the area’s total gross product, and paid relatively high average annual wages of over $50,000. Overall, Northeast Ohio lost 1.4 percent of its manufacturing jobs from 2004 to 2006, a rate lower than the 2 percent figure for the entire state of Ohio but higher than the nationwide loss of 0.5%. According to the CSU analysis, several manufacturing industries may be rebounding from the job losses that occurred over the past few years. Northeast Ohio has recently outperformed Ohio and the United States in four industries: primary metals, furniture, wood products and petroleum and coal products. In addition, four counties in the region—Geauga, Lake, Lorain and Medina—each added between 200 and 600 manufacturing jobs form 2004 to 2006. “With 303,306 manufacturing jobs in Northeast Ohio, there is no question that manufacturing remains an extremely significant sector of the regional The CSU study was sponsored by MAGNET, the Manufacturing Advocacy & Growth Network, and the United States Economic Development Administration. # # # # # Contact: Greg Krizman |
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Media Coverage: Opinion: Our View: Manufacturing jobs up in Lorain County, and that's encouraging, Lorain Morning Journal, December 1, 2007 Area economy has bright spots, by Paula Schleis, Akron Beacon Journal, November 29, 2007 Manufacturing news mixed for Northeast Ohio, WKYC-TV News, November 29, 2007 Cleveland-area manufacturers lag state and nation in job creation, by Frank Bentayou, Cleveland Plain Dealer, November 28, 2007. Northeast Ohio manufacturing report points out positives, Reliable Plant Newswires, November 30, 2007 |
