March 2009 + Biomedical is a Driving Force in the CLE+ Economy

The latest edition of the quarterly Cleveland Plus® Economic Review puts a focus on the region’s biomedical sector. Findings include that Northeast Ohio GRP for the biomedical sector (including pharmaceuticals & therapeutics; medical devices & equipment; and research & development) has grown at an average of 7.4% annually, outpacing the nation’s average sector growth. Fueling this growth are historical assets including the region’s strength in healthcare, the legacy of skilled manufacturing, and new venture capital funding from outside of Ohio.