Cleveland: The King Reigns Again

After suffering through two decades of economic malaise, Cleveland is on the comeback trail. In fact, the city and its surrounding counties are so robust that this one-time epitome of the Rust Belt era today consistently ranks in the top 10 metro areas in Site Selection's annual analysis of new plants and expansions.

The largest metro area in the state and a corporate command center, Cleveland reigns over a humming business engine comprised of 17 Northeast Ohio counties, several mid-sized cities and smaller towns which contribute to the region's healthy economic picture.

Much of the credit for the renewed economic vigor goes to Cleveland's self-improvement effort, including a billion dollar commitment by the banking community to underwrite urban neighborhood revitalization. The Greater Cleveland Growth Assn. aggressively reinforces the metro area's key advantages: location, affordable wage rates and a well-integrated network that coordinates all four major modes of transportation.

Transportation linkages in Northeast Ohio include 150 or more trucking companies and three Class I railroads -- Conrail, Norfolk Southern and CSX.

The Cleveland-Cuyahoga County Port Authority operates the largest overseas general cargo port on Lake Erie, as well as one of the nation's largest and most active Foreign Trade Zones. Serving 50-plus nations, the port is a natural gateway to the St. Lawrence Seaway, closer to most European destinations than many East Coast ports. The port authority runs a strong economic development effort that includes bond programs to finance facilities and lease them back to the private sector.

The Cleveland metro area is well-served by interstates -- the east-west routes I-80/90 and north-south I-77 and I-71. Inner and outer beltways ease the flow of traffic and provide good access for commuters.

The Build-Up Greater Cleveland Campaign includes a significant infrastructure improvement program that funds rebuilding of roads and bridges to insure that the distribution system remains in good shape.

Distributors from Cleveland have a broad market reach -- within 500 miles of the metro area are half of all products made in the U.S., half the U.S. manufacturing employment and half the corporate headquarters.

Canada, just 45 minutes by air across Lake Erie, is the city's No. 1 foreign trading partner.

Moreover, the metro area is a sizable local market, with a population of over 2.9 million and more than 6,000 manufacturers. Industrial distributors find that Ohio's industrial community is heavily weighted toward the Northeast corner of the state, with 40 percent of Ohio manufacturers located in this region. The industrial base is diverse, with three-fourths of all manufacturing sectors represented in the region.

Like its new waterfront meseum/Hall of Fane, Cleveland's economy is rocking and rolling.

Recent distribution announcements in the Cleveland area include Best Buy, which located a regional distribution and customer service center in Valley View. Chrysler built a $20 million parts distribution center in Streetsboro, and Greenfield Industries expanded its distribution center in Parma, providing more than 100 new jobs. C.R. Laurence has a new service center in Solon, W.W. Grainger built a $17 million facility employing 100 in Macedonia, and McMaster Carr invested in a $10 million facility, hiring 300 in Aurora.

Cleveland's competitive incentive package includes several Community Reinvestment Areas and Enterprise Zones throughout the metro area that provide property tax abatement. One of the few cities awarded an Empowerment Zone, Cleveland is currently laying plans for the zone on its east side.