Gund Foundation, CSU enhance understanding of Cleveland economy

Cleveland State University has received a $300,000 grant from the George Gund Foundation to conduct a comprehensive 2-year analysis of Northeast Ohio with the goal of improving measurement of regional performance and developing better economic indicators for assessing regional strengths, challenges and areas for future growth.

The effort will be managed by the Center for Economic Development in CSU’s Maxine Goodman Levin College of Urban Affairs and guided by the Economic Advisory Group. The group will include leaders in the research and strategy arms of CSU and other universities, the Cleveland Federal Reserve Bank, JobsOhio, TeamNEO, MAGNET, Fund for Our Economic Future and other economic development intermediaries.

“The Northeast Ohio region is uniquely prepared to play a significant role in the emerging innovation economy, but we need better data on how best to take advantage of these strengths, address our challenges and target the next generation industries that provide the best opportunities for growth,” notes Roland V. Anglin, dean of the Levin College. “This effort will allow the region to think strategically and analytically about the economic indicators that are needed to accomplish this goal, and ultimately, develop better policies to ensure future economic growth.”

The study will focus on the major metropolitan statistical areas that make up the region: Cleveland, Akron, Canton and Youngstown. It will analyze the performance of traded sectors in these MSAs and assess the level of innovation in driver clusters, including advanced manufacturing and technology services, energy, logistics, information technology and the internet of things, and other identified sectors of interest. The effort will also assess the challenges facing the region and how to address them, such as increasing inclusive economic growth for all neighborhoods and individuals in Northeast Ohio including underrepresented minorities.

“Using old data to assess the current state of the region is not optimal and new indicators need to be developed to better measure the current economic environment and help us develop better solutions to the challenges we face,” adds Iryna Lendel, director of the Center for Economic Development at CSU.

The Center for Economic Development at Cleveland State University was created in 1985 and provides technical assistance, applied research, and dissemination of information to aid in urban and regional economic development in Northeast Ohio. The Center works with economic development organizations, state and local governments, and businesses to improve the areas competitive advantage, and help in the regional transformation to a knowledge-based economy. It is currently designated as a Regional University Research Center by the Economic Development Administration of the U.S. Department of Commerce.

The George Gund Foundation was established in 1952 as a private, nonprofit institution with the sole purpose of contributing to human well-being and the progress of society.

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