Posted on January 25, 2022 at 5:44 PM, updated June 14, 2022 at 10:08 AM Print
A new report conducted by Levin's Center for Economic Development (CED), "Moving Cleveland Above the Trend: Retirement Destinations," authored by Dr. Iryna V. Lendel, Research Associate Professor and Director of the CED, Molly Schnoke, Project Manager in Levin’s Center for Community Planning and Development, and Madeline M. Frantz, Graduate Research Assistant at Levin, examines the structural and policy factors of economic growth in mid-sized metropolitan statistical areas (MSAs).
According to the abstract, the CED used factor analysis as a data-reduction technique to identify five factors influencing mid-sized regional economies: 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. These factors were related to changes in regional employment, gross regional product (output), and per capita income. The research brief outlines the initial analysis’ primary takeaways related to retirement destinations and explores how Cleveland and Northeast Ohio can retain its growing retiree population and attract others from outside the region to help drive its economy forward.
The CED has served as a designated Economic Development Administration (EDA) University Center since 1985.
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Photo Credit: The photo on the College homepage referring to this publication is by Steve DiMatteo on Unsplash.