Workstream: Economic Development - NEOSCC Conditions & Trends
The Economic Development work stream will begin by assessing economic trends in northeast Ohio and its subregions by concentrating on target industries that contribute to economic growth. In collaboration with the other work streams, the Economic Development team will identify development principles that contribute to a sustainable northeast Ohio economy. Using these tools, the Economic Development work stream will craft specific policies and practices that can be implemented by various stakeholders to support long-term economic growth in the region.
Finding: As Northeast Ohio’s population spread out, so did its jobs, creating new centers of jobs further away across the region.
This has created more centers of jobs across the region.
Finding: The uncertainty of what may be found on abandoned industrial and commercial land and the unknown cost of remediating what is found make Northeast Ohio’s brownfield and grayfield locations difficult to develop.
The existence of brownfields and grayfields has effectively reduced the supply of viable sites for development, particularly in urban areas. While data is available about brownfield sites whose cleanup is supported by the Clean Ohio Fund, Northeast Ohio lacks comprehensive data about the locations and conditions of its other brownfield sites.
Finding: Economic development incentives have often been used to assist companies that moved out of the central cities.
Generally, use of these incentives involves the consideration of only the location-specific project impact.