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Team NEO Report: Improving Economic Health in the Region

Friday, June 29, 2007 at 4:01 PM

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Northeast Ohio's economic health is improving - slowly - and the manufacturing and finance sectors have seen a jump in productivity. That's according to a quarterly economic report released by Team NEO, a group dedicated to attracting business investment to the region. ideastream's economics reporter Tasha Flournoy has more.

The economy overall in Northeast Ohio is growing despite job slowdowns in the manufacturing sector, according to the second quarterly economic report put out by Team Neo.

Team NEO CEO Thomas Waltermire says among the most notable findings is that productivity in manufacturing has risen, while job growth remains stagnant. He says today’s strong manufacturing companies are using more sophisticated technology, and moving away from the traditional industrial mold.

Thomas Waltermire: Manufacturing jobs that are dependent on people’s hands, and arms, and backs, those are the ones that are diminishing. The manufacturing jobs that are based on people’s minds, skills, and talents. You know intellectual skills are growing.

Waltermire says Team NEO is tracking such underlying trends in manufacturing and other sectors. He says the group may also begin producing reports on changes in Northeast Ohio’s workforce.

Tasha Flournoy, 90.3.

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