Document Type


Publication Date


Research Center

Center for Economic Development


A recent report conducted by the Center for Economic Development examined the structural and policy factors of economic growth in mid-sized metropolitan areas (MSAs). The Center used factor analysis as a data-reduction technique to identify five factors influencing mid-sized regional economies: 1) Innovation and Talent, 2) Entrepreneurship in High-Cost Areas, 3) New Residential Centers, 4) Retirement Destinations, and 5) Polarization. These factors were related to changes in regional employment, gross regional product (output), and per capita income. This brief outlines the initial analysis’ primary takeaways related to Retirement Destinations and explores how Cleveland and Northeast Ohio can retain its growing retiree population and attract others from outside the region to help drive its economy forward.