Cleveland, Ohio

:For the Cleveland area, see Greater Cleveland.

Economy

Cleveland's location on the Cuyahoga River and Lake Erie proved providential in the growth of the city and its industry. Cleveland experienced explosive growth after the opening of the Ohio and Erie Canal, cementing the city as one of the manufacturing centers of America. Steel and many other manufactured goods were major industries.

Related Topics:
Cuyahoga River - Lake Erie - Ohio and Erie Canal - Steel

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The city was hit hard by the fall of manufacturing, but has remarkably diversified its economy to include service-based industries. Cleveland is the corporate headquarters of many large companies such as National City Corporation, Eaton Corporation, Forest City Enterprises, Sherwin Williams Company, and KeyCorp, after which the highest skyscraper in Cleveland is named (Key Tower).

Related Topics:
Headquarters - National City Corporation - Eaton Corporation - Forest City Enterprises - Sherwin Williams Company - KeyCorp - Skyscraper - Key Tower

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Cleveland has also become a world leader in health care and health sciences. The world-famous Cleveland Clinic boasts the distinction of being the #1 heart hospital in the United States for eleven years running. It is also ranked #2 in urology and #14 in cancer research by U.S. News & World Report. The Clinic is also on the US News "honor roll" and is ranked as the #4 overall hospital in the United States. The Clinic is now the area's largest employer. Cleveland's healthcare industry also includes University Hospitals of Cleveland, a noted competitor of the Clinic's which is ranked #18 in cancer research, and MetroHealth medical center. Cleveland is emerging as a leader in biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is now one of the top areas in receiving seed money for biotech start-ups and research and expects to outpace Minneapolis in the near future. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to employ 7,000 as well as to serve to stimulate biotech startup companies that can be spun off from research conducted in the city.

Related Topics:
Health care - Health science - Cleveland Clinic - Heart hospital - Urology - Cancer research - U.S. News & World Report - University Hospitals of Cleveland - MetroHealth - Biotechnology - Fuel cell - Case Western Reserve University - Minneapolis - Incubator - Startup companies

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Additionally, Cleveland has recently stepped up efforts to cultivate a technology sector in its economy. The mayor has appointed a tech czar, whose job is to actively recruit tech companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several "high-tech offices", focused on the Euclid area. Additionally, Cleveland State University has recently hired a Technology Transfer Officer to work full time on cultivating technology transfers from CSU research to marketable ideas and companies in the Cleveland area. Case Western Reserve University is also involved in technology initiatives such as the OneCleveland project, a high-speed fiber optic network connecting all nonprofits in the area at high speeds, intended to breed collaboration between the areas "heavy hitters" in research and produce jobs for the city and region. It is an idea conceived by Dr. Lev Gonick, Case's Chief Information Officer. Cleveland was recently named as an Intel "Worldwide Digital City" with Corpus Christi, Texas, and Philadelphia. This distinction will give the region around $12 million to use for marketing and expansion of regional technology partnerships and a tech economy. Intel credited OneCleveland as a defining reason for the award, and the city looks to capitalize on the publicity and technology partnerships it will bring.

Related Topics:
Cleveland State University - Chief Information Officer - Intel - Corpus Christi, Texas - Philadelphia - $

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