The Morning Journal (Lorain, OH)
Chamber to host economic summit
Analysts part of second annual event
Two economic analysts will offer their points of view in the Lorain County Economic Summit scheduled May 11.
Federal Reserve Bank of Cleveland Senior Vice President Mark Schweitzer will give an economic overview and analyst Jason Broadwater will is the keynote speaker in the second annual event.
The Lorain County Chamber of Commerce is sponsoring the summit.
The event started last year as a replacement for the annual Groundhog Day economic summit sponsored by the former Team Lorain County, said Chamber President Tony Gallo.
This year’s event will
have some new perspectives, Gallo said.
In 2017, analyst Ken Mayland of ClearView Economics presented his summary and outlook based on the first 100 days of President Trump’s tenure.
This year, the Chamber invited Schweitzer to focus on the opportunities and
challenges of northeast Ohio, Gallo said.
Last year’s keynote speaker was retired Carnegie Mellon University professor Don Marinelli, who visited Lorain County ahead of his speech to discuss parallels he noticed between the county and Pittsburgh, his residence.
Broadwater, this year’s keynote speaker, will arrive May 9 to visit the communities and some Lorain County businesses, Gallo said.
Gallo said he first learned of Broadwater’s work via a program in Connecticut.
Broadwater is the author of “Old Town New World: Main Streets and More in the New Economy.”
Broadwater bills it as “a book on economic development and the new economy — covering the Internet, cowork, urban renewal, the creative class, collaboration, and the punk rock economy.”
“It seemed very appropriate in my mind because Lorain and Elyria are trying to reinvent their downtowns,” Gallo said.
Meanwhile, cities like Avon and North Ridgeville are trying to build downtowns because they do not
have traditional “downtown” areas, he said.
As a county chamber, staff and board members may find it difficult to focus on just one area without losing track of another, Gallo said.
For example, there are a lot of good things going on with new businesses in Avon and North Ridgeville, but some businesses have shut their doors in Lorain and Elyria, he said.
“You try to balance out the two and say, how do we benefit everybody?” Gallo said.
Meanwhile, Lorain County still has a manufacturing base greater than the national average, Gallo said.
A short list of easy examples include Ford Motor Co., PolyOne, Bendix, Riddell and Thogus Products, among others.
“There’s still a lot of manufacturing that takes place here in Lorain County,” Gallo said.