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Cleveland State University

Maxine Goodman Levin College of Urban Affairs, Cleveland State University
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m.s.schnoke@csuohio.edu


Weekly News and Opinion from Ohio's Newspapers
December 20 - 26, 2011

Greetings!
Welcome to the latest issue of Economic News from Ohio's Regions, a regular weekly newsletter from the Maxine Goodman Levin College of Urban Affairs and Cleveland State University.  We'll search Ohio's papers to bring you economic news and key happenings that impact Ohio's regions.

Report targets underwater mortgages
(Youngstown Vindicator, December 20, 2011)

The report, titled "Ohio Underwater," states that writing down all underwater mortgages could inject $36 million into the local economy. A mortgage is underwater when a homeowner has more debt on his or her home than the current market value.

It also states that writing down mortgages could create more than 24,000 jobs annually in Ohio and save families $1.6 million on mortgage payments.

 

Columbus jumps in Milken ranking of best-performing economies 

(Columbus Business First, December 20, 2011)

Columbus has shot up in an annual ranking of cities' economic and job growth, thanks in part to a strong showing by its technology sector.  

 

Local home sales up 12 percent from year ago
(Dayton Daily News, December 21, 2011)
Home sales in the Dayton area in November were more than 12 percent higher than the same month a year ago, marking the fifth consecutive month of improvement from 2010.

Northeast Ohio projects win bulk of $14.9 million in state tax credit awards for historic buildings
(The Plain Dealer, December 22, 2011)
New office space in Cleveland's Midtown neighborhood, apartments in downtown Cleveland and Akron, and a redevelopment of the Hotel Ashtabula are among the newest Northeast Ohio projects to benefit from a state program helping developers revive historic buildings across Ohio.

New federal pollution rules will cost Ohio power companies billions
(Akron Beacon Journal, December 22, 2012)
Akron's FirstEnergy Corp. and Columbus-based American Electric Power might shut down old, small and dirty coal-fired power plants or be forced to install new, costly anti-pollution equipment to comply with new limits on mercury, heavy metals and air toxics announced Wednesday by the U.S. Environmental Protection Agency.

Number of homeless increasing partly due to economy
(Middletown Journal, December 23, 2011)
The combination of high employment, a flat economy, reductions in state and federal assistance along with inadequate affordable housing have caused a spike in homelessness.

Study says 2011 Akron Marathon contributed $5.2 million to economy
(Akron Beacon Journal, December 23, 2011)
The 2011 Akron Marathon added about $5.2 million to Akron's economy and created the equivalent of 46 jobs, according to the University of Akron Department of Economics.

Cleveland Kamm's Corners Farmers Market has big economic impact, study finds
(Sun Star Courier, December 23, 2011)
The Kamm's Corners Farmers Market attracts 16,370 visits from shoppers per year. This results in gross combined receipts of nearly $284,000. Plus, 44 percent of market shoppers spend money at nearby businesses, resulting in $252,854 in projected gross receipts and an annual contribution of nearly $19,000 to local sales tax revenue.

Toledos economic indicators fall 3rd month for metro area
(Toledo Blade, December 24, 2011)
The latest report from the Ohio Department of Job and Family Services shows the leading economic indicator index for metro Toledo slipped 0.3 point in October to 86.8, indicating that local employment would drop during winter. The index dropped for a third straight month after rising for three months.


         Edited and compiled by: Molly Schnoke, Center for Community Planning & Development, Maxine Goodman Levin College of Urban Affairs, Cleveland State University
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