Cleveland, the Comeback Kid: Why Businesses Are Thriving in This Midwestern City

Cleveland, the Comeback Kid: Why Businesses Are Thriving in This Midwestern City

Don’t look now, but Cleveland is staging a comeback.

Following decades of deindustrialization and steep population declines, particularly in urban neighborhoods that long suffered from neglect and disinvestment, the city of Cleveland is growing. That’s due in no small part to a reinvigorated economy supported by business-friendly state and local policy and a rock-solid group of local employers who stuck with the city through thick and thin.

If your organization seeks a foothold in the Great Lakes region, Cleveland ticks a lot of boxes. Here’s why your business may want to consider making the move (or expansion).

1. It’s a Day’s Drive From Nearly Half the Country’s Population

Cleveland is no more than 500 miles from about 45% of the U.S. population, including major cities like New York, Philadelphia, and Washington, D.C. For employers seeking rapid access to major markets, that’s a big deal — and a major advantage over comparably sized, geographically isolated metros like Denver and Salt Lake City.

2. Its Startup Economy Is Thriving

Thanks in part to the presence of innovative incumbents like the Cleveland Clinic, Cleveland’s startup economy is thriving. Even legacy industries are in on the game; this steel industry veteran’s startup digital metals marketplace is the first of its kind, and a potential game-changer for an industry that’s sometimes criticized as hidebound.

3. Its Cost of Living Is a Fraction of Coastal Alternatives’

According to statistics compiled by Cuyahoga County, which surrounds Cleveland, the cost of living in northeast Ohio is a fraction of coastal peer cities’. That’s no surprise to anyone who actually lives here — housing prices, transportation costs, and taxes are all reasonable relative to national averages.

4. It’s in the Middle of America’s Manufacturing Heartland

Cleveland remains near the epicenter of America’s manufacturing heartland. Perhaps more important, it’s within a day’s drive of more than half of all U.S.-based Fortune 500 companies. Talk about made-to-order synergies.

5. It’s Not That Cold

Everything is relative. Sure, we all remember A Christmas Story — come December, it’s likelier than not to be dark and snowy around here. 

But Cleveland’s perch on the shores of Lake Erie provides a modest edge over inland areas nearby, taking the edge off in early winter and delaying the onset of summer’s heat and humidity. Besides, the lake is beautiful, and fall’s colors offer a rare treat in the countryside. 

All in all, Cleveland’s natural beauty and four-season climate are net positives for recruiting, especially in light of the region’s low cost of living. Worries about talent attraction should not stymie your relocation or expansion plans.

Cleveland Doesn’t Disappoint

From its early days as a shipping and timber hub, to its glory years as the epicenter of American heavy manufacturing, to its decades-long decline, to its nascent rebirth, Cleveland has been through a lot. That proud Clevelanders continue to show up every day to remake the city is a testament to their strength of character. 

Isn’t it time you experienced that strength for yourself? Cleveland awaits with open arms, and it’s not one to disappoint.