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Home - City Guide - Cleveland - Business | ||
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Business Business Profile: Cleveland's economy is robust and healthy. As the city redefined itself in the 1990s, so did the economy, strengthening an established industrial and service base, while enhancing its emerging science and technology sector. Fortune magazine recently rated Cleveland the sixth best city in North America for business and its residents, who experienced a 30.4% raise in personal income between 1990 and 1996, would not hesitate to agree. Although, the 8.8% of the population that are unemployed (high compared to the national average of 4.2%) may not be feeling as confident in the city's growth. Like many of its not-too-distant neighbours - Detroit and Chicago - Cleveland was an industrial centre, close enough to the densely populated northeast to serve its populace, while benefiting from the transport and resource wealth of the Great Lakes and the Midwest. It still retains some of that industrial might to this day, with manufacturing accounting for slightly over 20% of total employment, the highest such percentage among the top 20 markets in the USA. The city is home to some major manufacturing companies, including Goodyear Tire and Rubber, TRW, Sherwin Williams and Eaton Corp. Nevertheless, as the rest of the North American economy has switched increasingly to the service sector, so has Cleveland's. Service industries account for just under 30% of total employment, with business services and health services forming the largest constituents. Major service-based companies headquartered in Cleveland include National City Corp, Keycorp, Progressive Corp and IMG, a sports management and marketing company. Some of the city's most dynamic growth has been in science- and technology-related industries, especially in biomedicine, biotechnology and polymer-related industries. NASA's only facility north of the Mason-Dixon line (the line traditionally demarcating the American South from the North), the NASA Lewis Research Center, along with hundreds of other research and development labs support the kind of high-tech environment enjoyed by companies like BF Goodrich (Aerospace). Business Etiquette: As a Midwestern city whose traditional economic base was in manufacturing, Cleveland possesses the conservative business manner typical of the region. Its citizens are friendly and hardworking. Formal business wear is often worn in the office, although 'dress-down' or 'casual' Fridays are common, especially in summer months. Formal business attire can always be counted on for sales calls or when meeting business associates. The working day typically runs 0900-1700, although many career-minded employees work longer hours. Entertainment commonly takes place in restaurants - occasionally bars - either during lunch or in the evening. It is uncommon to be invited into a business associate's home for business purposes, although an invitation to a weekend barbecue during summer months would certainly not be abnormal. Gifts are not usually expected, although token gestures, such as a bottle of wine, are happily accepted after a deal has been completed. Business cards are normally exchanged after meals or meetings, not during introductions. Upon introductions, it is normal to call people by their last names, however, once a relationship has been established, people tend to call one another by their first names. The best time to visit Cleveland for business purposes is between September and May, as the summer is a popular time of year for holidays. |