Toledo Blade Nails Ohio's Economic Slide
"Ohio’s slide is real. Its economy, which once paced the country, has trailed national averages in job creation and income growth for more than a decade. Politicians note frequently that the state lost more than 200,000 manufacturing jobs during the last five years.
Both major candidates for governor this fall know economic struggle personally, and both say they know what ails the state today."
Read more here.
posted by Don Iannone, D.Div., Ph.D. at
Monday, September 18, 2006
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Build Ohio’s Economy? More Patents? Young, Educated? Invest in Urban Revitalization
If patents per capita and the percentage of high school and college graduates are the first and second highest predictors of income, then Ohio’s economic future could depend on making our cities the kinds of places that attract the so-called “creative class” or the “young and restless” – the well-educated 25-34 year olds. As Richard Florida points out in The Rise of the Creative Class, “Cities must be magnets for these highly coveted workers, or they will fail because in the knowledge economy it is the creativity and talent in a city’s workforce that will shape its economic opportunities.” If Ohio is to increase incomes, population, and the viability of its cities, we need to provide the lively, urban neighborhoods and “cool cities” that appeal to them.
Yet we are losing this educated population from Ohio’s own colleges and universities to other states. Findings in the study, “The Young and the Restless in the Knowledge Economy, “ commissioned by CEOs for Cities, show that the share of young adults in Ohio’s cities with a four-year degree or higher averages around 30%, in comparison to the highest ranked cities which boast a young, degree-holding population of 40 to 45%. And we are losing ground: Ohio’s three major cities, Cleveland, Columbus, and Cincinnati, have all experienced negative changes in the 25-34 year-old population from 1990 to 2000, ranking at -19%, -4% and -13% respectively.
To attract and retain “the young and the restless,” Ohio needs to revitalize its urban centers. The CEOs for Cities study shows that this age group is 34% more likely to live in central urban areas, compared to 12% a decade ago. These young adults want mixed-use neighborhoods where they can walk to work, entertainment, and shopping. They also want convenient public transportation, recreational and green space amenities, and population diversity. Ohio must focus on revitalizing its cities – with these attributes in mind – to appeal to this demographic and spur economic growth.
As Richard Florida puts it, we need to be “investing in the lifestyle amenities that people really want and use often, as opposed to using financial incentives to attract companies, build professional sports stadiums, or develop retail complexes.” Only if we rebuild our cities to attract the knowledge base to operate in a knowledge economy, will Ohio be able to compete in the increasingly global corporate world.
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