Story excerpt provided by The Youngstown Vindicator
Written by Jamison Cocklin
A report based on data from 10 private-sector economic development organizations in Northeast Ohio — including the Youngstown/Warren Regional Chamber — shows business investment projects in the region are projected to retain 36,363 jobs and $1.6 billion in payroll.
The 19-page report, released this morning by Team Northeast Ohio, an organization aimed at growing the economies of the region’s 18 counties, also reported that $1.7 billion in capital investment was pledged to the region last year.
Overall, the report touted Northeast Ohio’s growth during 2012, highlighting the rebound in manufacturing and the region’s emerging industries and underscoring the economic benefits of Eastern Ohio’s shale boom.
For example, the report notes that growth in manufacturing here is outpacing that of the nation as a whole, with output projected to increase by 39 percent between 2010 and 2020. Across the U.S., output is expected to increase at the same time by 33 percent.
The JumpStart Entrepreneurial Network, geared toward technology startups, which counts the Youngstown Business Incubator as a member, saw its clients generate $228.5 million last year, and they helped to create or retain 5,471 jobs.
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