The report that I have linked below is useful for thinking about the importance of technology in colleges that prepare graduates for the Northeast Ohio workforce. We are well situated in terms of our healthcare offerings, management offerings and educational services. However, because technology is forecasted to be the backbone of our future economy, technological training in institutions serving Northeast Ohio residents - the people who
do not intend to leave the region upon graduation - needs to be a major concern.
The
Northeast Ohio Economic Brief from 2007 has some important findings:
- Between 2005 and 2006, nine sectors in NEO accelerated their job growth compared to the previous year. Important sectors that moved from a negative to a positive growth rate within this time period include Educational Services, Information, and Management of Companies and Enterprises.
- The three sectors that added the highest number of jobs were Health Care and Social Assistance (9,200 jobs), Administrative and Support Services (8,500), and Professional, Scientific, and Technical Services (4,900).
- The fastest growing sectors in NEO with at least $4 billion in gross product were Transportation and Warehousing (16%), Professional, Scientific, and Technical Services (10%), and Information (8%)
- Employment in NEO grew faster than the state but slower than the U.S. in the Professional, Scientific, and Technical Services sector, an important sector in a region seeking to transition to a technology based economy.