Urban Studies and Planning Commons^™

Measuring The Economic Impact Of Employee Stock Ownership Plans (Esops) On Ohio, Michael Palmieri, Iryna Demko

All Maxine Goodman Levin School of Urban Affairs Publications

This study focuses on Ohio companies with an Employee Stock Ownership Plans (ESOPs) - the most common form of employee ownership in the U.S. Literature on the positive impacts of employee ownership at the individual and company level has grown in recent decades finding that individual employee-owners have longer tenure, more household wealth, higher wages, larger retirement accounts, and opportunities to participate in company decisions. At the company level research finds that employee-owned companies perform better than conventional companies on several performance metrics including overall survival rates, productivity, employment growth, and sales. Findings from both individual and company level studies …

Federal Assistance To Youngstown: Evidence From The Paycheck Protection Program, Iryna Demko, Georgina Guadalupe Figueroa,

All Maxine Goodman Levin School of Urban Affairs Publications

This presentation examines trends in federal assistance to Youngstown businesses through the Paycheck Protection Program (PPP) in 2020 and 2021. During this time, the Youngstown region received 13,061 PPP loans totaling $1 billion, reaching at least one small business in every Youngstown’s zip code. Most approved loans covered employees’ wages, helping to keep 130,170 workers on payroll during the Covid-19 pandemic. In 2021, PPP loans reached smaller businesses, with an average of 5 employees per business, compared to 17 employees in 2020.

An Empirical Review Of The Paycheck Protection Program - Congressional Testimony, Iryna Demko

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Dr. Iryna Demko, Research Associate at the Center for Economic Development, testified at the hearing of the U.S. House Committee on Small Business on the Paycheck Protection Program. The Paycheck Protection Program (PPP) has been one of the largest economic stimulus programs in U.S. history. In 2020 and 2021, the SBA disbursed over $800 billion in Paycheck Protection Program (PPP) loans to help small businesses keep their employees on payroll during the Covid-19 pandemic.

Covid-19 Impact On The Economic Vitality Index Of Ohio’S 88 Counties, Iryna Lendel, Georgina Guadalupe Figueroa, Iryna Demko, Jack Yochum

All Maxine Goodman Levin School of Urban Affairs Publications

This brief illustrates the results of the updated 2020 Economic Vitality Index (EVI) to understand the overall economic impact of the pandemic, including the role of the economic stimuli and related policy responses. This update of the 2019 EVI shows how Ohio’s 88 counties have been affected by COVID-19.

Moving Cleveland Above The Trend: Retirement Destinations, Iryna Lendel, Molly Schnoke, Madeline M. Frantz

All Maxine Goodman Levin School of Urban Affairs Publications

A recent report conducted by the Center for Economic Development examined the structural and policy factors of economic growth in mid-sized metropolitan areas (MSAs). The Center 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. This brief outlines the initial analysis’ primary takeaways related to Retirement Destinations and explores how Cleveland and Northeast Ohio can retain its growing …

Manufacturing In The 21st Century, Iryna Lendel, Mike Naso

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The manufacturing sector faces more challenges than ever to remain a competitive force in Northeast Ohio. The evolution of manufacturing through the advent of Industry 4.0 poses the most pressing challenge, pushing manufacturers to adopt technologies that are driven by data analysis, cloud computing, and connectivity through the Industrial Internet of Things. Northeast Ohio is falling behind in the adoption of 4.0 technology, especially among small- and medium-sized companies, and some have even delayed adoption of 3.0 technologies like basic automation and the integration of computers into production processes. This research brief investigates the advantages of Industry 4.0 implementation and …

Opportunities For Youngstown In The Supply Chains Of Northeast Ohio And Pittsburgh Economies, Iryna Lendel, Iryna Demko, Georgina G. Figueroa

All Maxine Goodman Levin School of Urban Affairs Publications

The Center for Economic Development at Cleveland State University conducted this analysis to determine opportunities for the Youngstown economy in the supply chains of Northeast Ohio and Pittsburgh economies. Youngstown can account for a greater share of input purchases from the NEO and Pittsburgh regions by focusing on Nonferrous Metal (Except Aluminum) Production and Processing, Alumina and Aluminum Production and Processing, and Plastic Product Manufacturing. Youngstown can develop its economic ties with Pittsburgh’s economy in its aspirational sector – Financial Services.

Moving Cleveland Above The Trend: New Residential Centers, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Shneur Kushner

All Maxine Goodman Levin School of Urban Affairs Publications

A recent report conducted by the Center for Economic Development examined the structural and policy factors of economic growth in mid-sized metropolitan areas (MSAs). The Center 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 also contribute to changes in regional employment, gross regional product (output), and per capita income. This brief outlines the initial analysis’ primary takeaways related to New Residential Centers and explores how Northeast Ohio can incorporate successful policies and …

Pandemic-Related Business Assistance, February 2021, Iryna V. Lendel, Molly Schnoke, Erica Henrichsen

All Maxine Goodman Levin School of Urban Affairs Publications

The pandemic has caused an unprecedented increase in unemployment, the closing or suspension of operations for many businesses, a drastic reduction in the capacity to produce many goods and services, and a significant reduction of disposable household income. To assist with these economic emergencies, federal, state, and local governments have passed legislation to aid households and businesses, including some programs for nonprofits. This brief groups the actions of all levels of government into four categories: general business support, small business support, industry-specific support, and unemployment benefits for individuals. The subsequent sections offer a summary of each program and a link …

Navigating Government Statistics Of Small Businesses For Pandemic Assistance, Iryna Demko, Iryna V. Lendel, Georgina Guadalupe Figueroa

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This brief examines various sources of government statistics to assist in understanding the scope of small businesses, the legal structure of their operations, and their distribution by industry in the Northeast Ohio (NEO) region. Under the current restrictions for business operations due to the COVID-19 pandemic, many entrepreneurs and small businesses need assistance to maintain cash flow and to retain both their employees and customers. Governments at all levels have developed business assistance programs to help small businesses; more recently, some of these programs have revised their rules. To illustrate who might be affected by the changing rules, several sources …

Moving Cleveland Above The Trend: Innovation & Talent, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Nora Walsh

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A recent report conducted by the Center for Economic Development includes a model for understanding and predicting economic growth in U.S. mid-sized regional economies to analyze structural and policy-based factors among similar regions. The Center used factor analysis as a data-reduction technique to identify the influences in mid-sized regional economies. This statistical analysis found five factors influencing the mid-sized regional economies reviewed for this report. They are 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. This was followed by an analysis to determine the relationship between these factors and …

Moving Cleveland Above The Trend: Entrepreneurship Policy, Iryna V. Lendel, Merissa Piazza, Molly Schnoke, Shneur Kushner

All Maxine Goodman Levin School of Urban Affairs Publications

A recent report conducted by the Center for Economic Development discussed the structural and policy factors of economic growth in mid-sized U.S. economies and included an analysis of similar regions. The Center used factor analysis as a data-reduction technique and identified 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. An analysis determined the relationship between these factors and the changes in regional employment, gross regional product (output), and per capita income. This brief outlines the initial analysis primary takeaways as it relates to …

Housing Market Pressures In Youngstown During The Gm Plant Closure (2016 To 2019), Iryna Demko, Molly Schnoke, Rachel Lefebre, Isabella Mcknight, Merissa Piazza

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This brief seeks to investigate the changes in the regional housing markets for renters and homeowners in the Youngstown region due to the General Motors Lordstown Assembly closure. Housing is an important part of the regional infrastructure that can attract new people in times when the Youngstown region tries to develop high-tech industries and reinvent its economy. The quality of housing stock determines the amount of property taxes, which help fund local schools as well as city services. In 2019, both median household income and median home values declined in the Youngstown region. The demand for rental properties increased as …

Pandemic Related Housing Assistance, December 2020, Iryna V. Lendel, Molly Schnoke, Erica Henrichsen

All Maxine Goodman Levin School of Urban Affairs Publications

The COVID-19 disease has resulted in a worldwide pandemic. Over 85 million worldwide confirmed cases of COVID-19 have been reported in a single year (2020) with more than 1.8 million of those cases resulting in death. The United States reported over 20 million confirmed cases in 2020 with over 300,000 deaths. This is a public health crisis that has resulted in widespread government response including event cancellations/prohibitions, stay-at-homes orders, the closure of nonessential businesses, and more. Governor Mike DeWine of Ohio declared a state of emergency on 3/9/2020 immediately following the first case reported in the state. On 3/13/2020, President …

Can The Eitc And Unemployment Insurance Replace Lost Wages?, Megan Hatch, Chloe G. White

All Maxine Goodman Levin School of Urban Affairs Publications

The COVID-19 pandemic has had a significant effect on all aspects of social, economic, and political life worldwide. In the United States, millions of people have tested positive for COVID-19, and over 200,000 people have died from the virus. While Ohio’s governor and director of public health have been credited for their quick decision-making in response to the pandemic, Ohio’s communities still suffered, with well over 100,000 cases and thousands of COVID-19-related deaths statewide.

Policymakers aiming to reduce the spread of COVID-19 were forced to make difficult tradeoffs between public health and the economy. On March 23, 2020, Governor Mike …

Youngstown Economy: Recession And Path To Recovery, Iryna Demko, Iryna V. Lendel, Merissa Piazza, Georgina Figueroa, Matthew Ellerbrock

All Maxine Goodman Levin School of Urban Affairs Publications

This brief seeks to identify opportunities for the Youngstown economy to recover from the COVID-induced economic recession.

Are There Opportunities In Opportunity Zones?, Tatyana Guzman, Rachel Lefebre

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Opportunity Zones (OZ) are an economic development tool designed to spur investment in impoverished areas (census tracts). OZs were created by the 2017 Tax Cuts and Jobs Act. They allow investors to defer (and, if investments are held for a long time, to partially exclude) capital gains received from qualified investments made in Opportunity Zones from federal tax. In this research we speculate on the potential effect of the Opportunity Zones program in the greater Cleveland area. 8,764 census tracts in the United States received Opportunity Zone designation. 320 of them were selected in Ohio. Of those, 317 are low-income …

Neo Grids Performance In 2020, Iryna Demko, Merissa Piazza, Iryna V. Lendel

All Maxine Goodman Levin School of Urban Affairs Publications

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 …

The Role Of Public Transportation In Youngstown, Iryna V. Lendel, Iryna Demko, Obed Pasha, Georgina Figueroa

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The Center analyzed the relationship between public transit availability and employment in the entry-level job hubs. Using a Poisson model for the Youngstown origin-destination matrix, we found that a 10-minute decrease in rush-hour travel times by public transit is expected to increase employment by almost 7%. This means that 224 more residents of each low-income census tract will have access to the entry-level job hubs in Youngstown. As transit agencies are experiencing major disruptions to normal operating procedures because of the COVID-19 pandemic, our findings show that without access to public transportation many people lose prospective employment.

Good Jobs: Employment And Wages In Groups Of Regional Industrial Drivers, Iryna Lendel, Merissa Piazza, Iryna Demko, Matthew Ellerbrock, Emily Forsee

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Talent attraction and workforce development are urgent topics in Northeast Ohio, as many companies are finding it challenging to locate and attract necessary workers for open jobs. This dilemma spans across sectors: from the manufacturing industry finding appropriately skilled labor to professional services finding experienced IT staff. This research analyzes employment dynamics among Northeast Ohio (NEO) industries, so policymakers and economic development practitioners can utilize our findings and design programs to improve the economic conditions in the region. This report builds on The Center for Economic Development’s prior work, which identified NEO’s Groups of Regional Industry Drivers (GRIDs). These sectors …

Examining Inclusive Growth: Minority-Owned Firms In The Cleveland-Elyria Msa Brief, Iryna Lendel

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This report provides insight on minority business ownership in the 5-county Cleveland-Elyria Metropolitan Statistical Area (Cleveland MSA) using data from the 2007 and 2012 U.S. Census Bureau Survey of Business Owners. Minority-owned businesses in the Cleveland MSA represented 20% of all firms in 2012. The majority of these firms, 71%, were owned by African American entrepreneurs (24,618), while 14% (4,959 firms) were Asian-owned. Overall, Asian firms have higher combined sales than African American firms ($1.9 billion versus $972 million); resulting in higher sales per firm. Targeted public policies assisting in revenue generation in the African American business community can increase …

2019 Cuyahoga County Economic Development Plan: Indicators And Projections Brief, Iryna Lendel, Iryna Demko, Matthew B. Ellerbrock

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Center For Economic Development Welcomes The White House Opportunity And Revitalization Council And U.S. Eda, Iryna Lendel, Merissa Piazza, Matthew B. Ellerbrock

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Local Front Runners: Grids In The 4 Northeast Ohio Metropolitan Areas, Merissa Piazza, Iryna Demko, Iryna Lendel, Matthew B. Ellerbrock

All Maxine Goodman Levin School of Urban Affairs Publications

Northeast Ohio (NEO) is an 18-county region which encompasses four different Metropolitan Statistical Areas (MSAs); MSAs commonly refer to the labor market of a given area (for this study: the Akron MSA, the Canton-Massillon MSA, the Cleveland-Elyria MSA, a part of the Youngstown-Warren-Boardman, OH-PA MSA) and remaining rural counties (“non-MSA counties”). Within NEO, these four distinct metro areas have different industry structures. Investigating the internal dynamics of each region’s economic driver industries—what we call Groups of Regional Industry Drivers (GRIDs)—can inform local leaders and economic development practitioners of expanding and emerging industries to foster regional growth.

Economic trends in NEO …

Northeast Ohio Front Runners: Groups Of Regional Industry Drivers (Grids), Iryna Lendel, Merissa Piazza, Iryna Demko, Jinhee Yun, Samuel Owusu-Agyemang

All Maxine Goodman Levin School of Urban Affairs Publications

This research provides relevant, data-driven insights on competitive industries in the Northeast Ohio (NEO)1 economy over the 2013-2017 period. This report informs the reader on industries that over the last five years outperformed their national counterparts in wealth creation. These industries employ a significant amount of regional workforce, create sizable output, and have a regional competitive advantage. This research updates previous research conducted by the Regional Economic Competitiveness Strategy in 2011 and provides up-to-date insights into the future growth areas of NEO’s regional economy.

2018 Downstream Challenges And Opportunities, Iryna Lendel

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No abstract provided.

Greater University Circle Initiative: Year 7 Evaluation Report, Molly Schnoke, Merissa Piazza, Heather Smith, Liam Robinson

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The Greater University Circle Economic Inclusion (GUCI) Initiative has surpassed a decade of existence by connecting neighborhoods, businesses, and leaders throughout seven neighborhoods that encompass Greater University Circle (GUC) in Cleveland, Ohio. This initiative was first assembled by the Cleveland Foundation in 2005 to bring together the three major anchor institutions located in these neighborhoods (Case Western Reserve University, the Cleveland Clinic, and University Hospitals Health System) to convene and meet shared goals by harnessing their collective economic power. It is important to recognize that in many other anchor initiatives in other parts of the country, initiatives are brought by …

Greater University Circle Initiative: Year 6 Evaluation Report, Kathryn W. Hexter, Candi Clouse, Nick Downer, Liam Robinson

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The Greater University Circle Economic Inclusion Initiative is a unique multi-anchor, place-based effort to revitalize the seven neighborhoods that comprise Greater University Circle (GUC) in Cleveland, Ohio. Convened in 2005 by the Cleveland Foundation, it involves three anchor institutions: The Cleveland Clinic, Case Western Reserve University and University Hospitals Health System, along with the city of Cleveland and many other partners. This sixth evaluation report highlights the group’s major accomplishments and challenges, and looks to the future of this unique initiative. The report also tracks progress toward meeting the goals set forth at the outset: Buy Local, Hire Local, Live …

Practitioner Guidebook: Measuring Entrepreneurial Ecosystems, Merissa Piazza

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This study, with support from the Ewing Marion Kauffman Foundation, focuses on two major empirical questions: 1) Does the theoretical model established by Stangler and Bell-Masterson (2015) quantitatively hold for regions? Meaning, when the theoretical model is empirically evaluated, will the same data groupings emerge? and 2) What are the key indicators which entrepreneurs and the economic literature view as essential for entrepreneurial ecosystem vibrancy?

Measuring Entrepreneurial Ecosystems, Caroline Taich, Merissa Piazza, Kara Carter, Alexa Wilcox

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Examining entrepreneurial ecosystem measurement is an interesting and important research activity for several reasons. First, there is a significant amount of taxpayer investment in play through public financing of small businesses and early stage companies. Second, practitioners and funders are currently seeking ways to expand entrepreneurial activity in order to increase regional prosperity.

The goal of this research study is to quantitatively and qualitatively explore the indicators of entrepreneurial ecosystems. This study, with support from the Ewing Marion Kauffman Foundation, focuses on two major questions: 1) what are the indicators of an entrepreneurial ecosystem, and which of these best reflect …