Northeast Ohio has seen slower than average business growth over the past 18 months; while economically the largest region in the state, the area has fallen behind in job and average income growth, reports Crain’s Cleveland. In response, Team NEO has made some big changes and is “prepared to lead the region’s economic development system,” said the organization’s new boss, William Koehler, in the article. Team NEO, a “nonprofit that broadly promotes business development in the region,” merged with NorTech, another nonprofit focused on “nurturing technology-businesses,” in January, Crain’s reports. Additionally, Team NEO “took over execution of the Regional Economic Competitiveness Strategy (RECS).” Koehler said Team NEO is “a new, transformed organization” with a goal to coordinate business groups, civic groups and local governments “to rev up the region’s economic growth.” The plan to accomplish that includes an increasing focus on industries with growth potential, such as the biomedical industry, and supporting startup businesses. The organization “will also increase its emphasis on keeping and growing existing businesses and doing more to address the talent and workforce needs of the region’s employers.” For more, read the full article.
Team NEO ready to “rev up” economic growth in Northeast Ohio
