Biotechnology in Northeast Ohio: A Growth Industry Takes it Slow
June 27, 2002
Zach Schiller’s January 2002 study shows that Cleveland’s biomedical industry, five years ago touted by business and development leaders as a growth sector ripe for area investment, has taken a less-than-impressive hold in the local economy. Using updated industry figures, the study finds that despite commercial biomedical industry growth in Cleveland, the sector remains quite small in relation to the overall regional economy, holds a below average share of the national industry and is concentrated in medical device production, rather than higher-wage drug manufacturing. The report suggests biomedical jobs are not likely to replace a large proportion of the high-paying manufacturing jobs disappearing in Cleveland, and cites national data calling into question how much the industry’s development can benefit working-class Clevelanders.
Don’t Bank on Biotech Boom Plain Dealer Op-ed, Schiller, June 27, 02