Health care gives regional economy shot in the arm, NE Ohio report finds
Employment in health care has grown 20 percent since 2000, making it northeast Ohio’s largest employment growth sector, according to an economic development report released Sunday.
In the 18-county northeast Ohio region, which includes the Mahoning Valley, health care is a $14 billion dollar sector, with some 177,000 employees, according to the quarterly Cleveland Plus Economic Review.
Research expenditures by medical institutions and universities have nearly doubled, growing from $370 million in 2000 to more than $660 million in 2012, the report said.
The gross regional product in health care grew by 25 percent, or $3 billion, between 2000 and 2014, the report said.
Over the past 14 years, health care has grown from 7 percent to 9 percent of regional employment and from 5.5 percent to 7 percent of the gross regional product.
GRP is the total output of goods and services in the region, estimated at $197 billion for 2014.