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Economy

NE Ohio's Biomedical Industry Outpaces Other Sectors With 60 Percent Growth Since 2000

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Team NEO
Team NEO's Jacob Durtisky reports that Northeast Ohio biomedical companies are the region's leading growth sector

The biomedical industry’s growth in Northeast Ohio continues to outpace other sectors in the region. 

The latest economic review by Team NEO shows bio-medical companies have grown by nearly 60 percent since 2000. The regional economic development organization’s Jacob Duritsky says total growth across all regional sectors during that period has only been about 10 percent.

He says Northeast Ohio now has 700 biomedical companies.

“Back in 2000, it was about 1.8 percent of total output in the region, today it’s about 2.8 percent."

Duritsky says the strength in the biomedical sector ties together "coupled with our health-care expertise to create products and services ... that are really fueling technologies around biomedical.”

Duritsky says there are about 30,000 biomedical jobs in Northeast Ohio among the total of nearly 1.9 million jobs in the region.