A recently released study shows that Greater Cleveland-based startups contributed significantly—more than $688 million in the last three years—to Ohio’s economy.
According to an annual report from The Center for Economic Development at Cleveland State University's Levin College of Urban Affairs, 127 young companies collectively generated $270 million in economic benefits for Ohio in 2012. These companies helped create and retain 1,100 in-state direct jobs, with a total Ohio employment impact of 2,140. This impact increased as these tech companies matured: Analysis of 44 firms who participated in the study each of the last three years reveals that, collectively, they increased their state and local tax impact by 23% and in-state employment by 53% in that timeframe.
To read the original article: Startups Impact Ohio | Connect for the Community
