Posted on August 31, 2020 at 9:10 PM, updated November 23, 2022 at 1:46 AM Print
Take a look at a recent Maxine Goodman Levin School of Urban Affairs publication:
NEO GRIDs Performance in 2020
Authors: Dr. Iryna Demko, Dr. Merissa Piazza, Dr. Iryna Lendel
Publication Date: August 2020
The Center for Economic Development identified 33 driver industries in the 2019 report titled “Northeast Ohio Front Runners: Groups of Regional Industry Drivers (GRIDs).” GRIDs are wealth-creating industries that pay high wages, have a robust regional specialization, and contribute to the economy through regional supply chains. However, in this year alone, the U.S. and Ohio economies have seen a trade war with China, retaliatory tariffs on U.S. goods, the collapse of oil prices, and mandatory business closings due to the COVID-19 pandemic. These events contributed to the already ongoing cyclical repression, and impacted the wealth creation of Northeast Ohio’s (NEO)3 GRIDs. This research brief represents an update on the consequences of COVID-19 on GRIDs, specifically the Professional Services, Growing Legacy Manufacturing, and Oil and Gas GRIDs, to investigate what factors allowed for some industries to grow while others experienced a considerable downturn.