The Center's Northeast Ohio Economic Development Initiative
The role of area hospitals in Northeast Ohio economic development is significant. Hospitals are the largest employers in the region, and represent one of the largest purchasers of goods and services.
Launched in 2011, The Center’s Buy Northeast Ohio initiative brings new businesses and jobs to the region by leveraging the healthcare sector's buying power. By working together, hospitals can combine their purchasing strength to grow existing business in the region and to persuade medical device manufacturers and distributors to locate a portion of their operations in Northeast Ohio.
The Center represents more than 40 Northeast Ohio hospitals. More than 20 of those hospitals are in Cuyahoga County, which ranked second in the nation among counties with the largest population loss in 2009.
Working together, we can reverse this trend, and our hospital membership and the communities they serve will benefit at various levels:
Hospital Administrators: An economically healthy community with a strong jobs base is a favorable environment for hospitals. It offers a favorable payer mix, which enables hospitals to make capital investments and improvements in their facilities and, most importantly, it strengthens their ability to meet their charitable mission to their community.
Human Resource Executives: Adding the innovation of the medical device industry to the already prestigious Northeast Ohio hospital community could make this area a healthcare destination, attracting additional talent from outside the area and potentially preventing new high-tech graduates from leaving the area. All of this adds up to an even more robust workforce from which human resources executives across the region can recruit a talented, educated workforce.
Educational Facilities: A strong regional employer base requires a pipeline of educated workers. A Northeast Ohio economic development initiative revolving around healthcare would contribute to growth in jobs requiring high levels of expertise, thereby increasing demand for higher education.
Local Communities: A reversal of job losses obviously is critically important to the region’s economic development. And with a job market that attracts and retains a strong workforce and potentially generates population growth for the region, there would also be a boost in income, property and sales taxes.
Read more about the economic impact of hospitals.
Contact us or Sarah Kresnye for more information on The Center's Northeast Ohio economic development initiative at 216.696.6900.