The Brookings Institution has just released a report, Global MetroMonitor: The Path to Economic Recovery, which shows that Cleveland has moved into 49th place internationally, in performance during the 2009-10 recovery, beating all but 8 other US cities. Most impressively, the city skyrocketed in ranking from #135 prior to the recession (1993-2007), and #131 during the recession (2001-10), improving more than any other city in the world except Detroit.
While the recession hit U.S. metros harder than their European counterparts, the recovery seems slower to take hold in European than American metros. Metros along Europe’s western, eastern, and northern peripheries, from Porto and Valencia, to Thessaloniki and Sofia, to Helsinki and Stockholm, anchor the bottom 30 economic performers from 2009 to 2010. Meanwhile, several U.S. metros that suffered severe economic declines during the recession, such as Detroit and Cleveland, posted significant rebounds in their rankings on the strength of robust income growth, even as metros such as Atlanta and Las Vegas await a stronger recovery.
Download the .pdf report here: http://www.brookings.edu/reports/2010/1130_global_metro_monitor.aspx
One Response to “Brookings: Cleveland is a Global Leader in Economic Recovery”
Carla
This is great news. Now, when is it going to FEEL like a recovery?