The Cincinnati Metropolitan area landed right in the middle of Ohio's three largest metros when it comes to economic growth last year, a new study by the Federal Bureau of Economic Analysis reveals.
Fueled primarily by growth in natural resource-related industries and professional services (think accounting and administrative jobs), the Cleveland metro's economy grew by 2.9 percent in 2017 to $139 billion. The Cincinnati metro area wasn't too far behind — its economy grew by 2.4 percent to $138 billion. Columbus metro trailed, growing by 2.1 percent to $136.3 billion.
Cincinnati saw declines in professional services and manufacturing, but gained in finance, insurance and real estate along with retail sectors. Cincinnati's economy ranked 29th largest in the nation, just behind Cleveland at 28th and just ahead of Columbus, which ranked 30th.
The economic growth didn't extend to everyone equally. Even as the Cincinnati metro area's economy was growing, the city proper's poverty rate ticked up to 27.7 percent — higher than it was prior to the Great Recession a decade ago. Those increases came even as poverty declined across the state and the nation.
Cincinnati's metro area includes Brown, Butler, Clermont, Hamilton and Warren Counties in Ohio, Dearborn, Franklin and Ohio Counties in Indiana and Boone, Bracken, Campbell, Gallatin, Grant, Kenton and Pendleton Counties in Kentucky.
You can read the full report here.
