Economy of Greater Cleveland

The economy of Greater Cleveland is diverse, but is based on healthcare, banking, finance, education, insurance, manufacturing, sports, and tech.

The metropolitan area based in Cleveland is the 33rd largest in the country, and is home to over 2 million people.

In the 1860s, the Standard Oil Company was founded by John D. Rockefeller in the city of Cleveland.

However, The Great Recession hindered the region as the City of Cleveland's unemployment rate hit 12%.

[3] However, Progressive's rivals, including State Farm, Allstate, Nationwide, and Geico are also prominent in Greater Cleveland.

A study from Cleveland State has shown a bounce back after the Great Recession for the manufacturing industry.

The two largest employers in Cuyahoga County are Cleveland Clinic and University Hospitals, respectively.

Greater Cleveland health care industry is a major sector of the local economy.

All three of the Big 4 teams located in Cleveland generate a major economic impact.

[13] The Cleveland Guardians' strong performance in recent years has helped the local economy.