While manufacturing in the U.S. is projected to grow 33% between 2012 and 2020, in Cleveland that number is higher.
With high-tech, advanced-manufacturing techniques taking hold — and key sectors such as plastics and rubber hitting their stride — the region's manufacturing gross regional product is projected to grow by 39% between 2010 and 2020.
By contrast, U.S. manufacturing output is projected to grow by 33% during that same time period.
The projections come from Team NEO, a nonprofit economic development organization representing Cleveland, Akron, Canton and Youngstown — once-mighty manufacturing hubs that, until recently, have held the dubious distinction of being in the heart of the Rust Belt.
But things are turning around, according to Team NEO's fourth-quarter review of economic indicators in the 18-county region.
Click on Hot in Cleveland: Manufacturing Mounts a Comback for more on New Equipment Digest.
