“Cleveland Clinic began as a research institution. Our discoveries today are the new therapies, the new drugs and new treatments for patients 5, 10, 15 years from now. Without the research that’s being done in these laboratories, there’d be no real advances."
— Paul DiCorleto, PhD, Chairman, Lerner Research Institute
Investing in Our Community
It is difficult to overstate the significance of the positive impacts Cleveland Clinic imparts to the state and local economies in Ohio. Of the more than 440 distinct industry sectors present in the Northeast Ohio economy, this single organization that is Cleveland Clinic supports more economic activity than 98% of any of those entire industry segments.
Spurring Economic Activity
Of every $100 of economic activity that occurred in the region in 2006, more than $3.50 was directly or indirectly attributable to the presence of Cleveland Clinic. The total economic impact Cleveland Clinic generated in 2006 on the State and regional economies was nearly $9 billion.
Cleveland Clinic’s activities in the State of Ohio supported approximately 70,770 jobs in 2006, and an associated nearly $3.2 billion of wages and earnings.
Visitors from all over the world come to the region solely because of Cleveland Clinic. In 2006, these estimated more than 730 thousand visitors to the region spent nearly $267 million on lodging, transportation, food, and other goods and services.
Supporting Local Goods, Services
Cleveland Clinic itself is also a major purchaser of goods and services. In 2006, Cleveland Clinic spent almost $780 million buying goods and services from within the State of Ohio. Of this amount, nearly $670 million was spent in the Northeast Ohio region.
Excluding construction activity, Cleveland Clinic’s ongoing, permanent operations supported nearly 31,000 full-time equivalent, direct jobs in the State, and more than 35,000 indirect jobs. This represented approximately $3 billion of wages and earnings.
From 2004 through 2006, Cleveland Clinic spent more than one-half of $1 billion on new construction and renovation projects. These investments in the region supported, on average, nearly 3,000 total jobs and almost $115 million in earnings per year for each of the three years.
Clearly, a financial investment in Cleveland Clinic is an investment in the future of Northeast Ohio.
