Home>
The Northeast Ohio Dashboard of Economic Indicators
The Dashboard is a set of indicators that track the economic health of Northeast Ohio and its four metropolitan areas. The Dashboard measures the economic performance of Northeast Ohio's four metropolitan areas against the economies in 136 other metropolitan areas. While the Dashboard research was originally done to help guide policymakers in Northeast Ohio, the research is being used by other metropolitan areas to evaluate their economic performance.
Like the dashboard of a car that displays gauges critical to operate and maintain the vehicle, the Dashboard includes indicators and information necessary to understand and monitor regional growth and to develop public and private policies that can strengthen the region's economic competitiveness. Nine indicators have been identified, based on nearly 40 economic, demographic and social variables that contribute to regional economic growth in terms of Employment; Per-Capita Income; Gross Metro Product; and Productivity. This online version of the Dashboard supplements the full Dashboard report, available in PDF format here.
How Are We Doing?
The Dashboard includes four broad measures that monitor the economic vitality of Northeast Ohio and the average standard of living of its residents. Northeast Ohio is comprised of four metro areas and surrounding counties. The Northeast Ohio region is represented in this analysis by its four metropolitan areas: Akron, Canton-Massillon, Cleveland-Elyria-Mentor, and Youngstown-Warren-Boardman. The dials show the ranking of the NEO region (its four metro areas combined) compared with 136 metropolitan areas. The color bands indicate the quartile that the NEO region lies within among the 136 metro areas and the actual growth rate is shown below the dials. Find out more about each measure by clicking the details link, or use the navigation controls on the left.
What Do We Do About It?
The Dashboard identifies nine factors that contribute to regional growth. These factors are derived statistically from more than 40 variables that this study and others have shown to be related to four broad economic measures. They are ranked according to their relative contribution to each of the four broad factors. Understanding the possible contributing factors and taking stock of the region's assets are important steps in pursuing a viable economic development strategy. While some of the indicators cannot be controlled, such as the climate, most can be changed in ways that can revitalize the region. The Dashboard indicates which factors can have the greatest impact on the region.
