Wednesday, June 10, 2009

Forbes.com can Jam it Where the Sun Don't Shine

Sorry about that headline. There's really nothing very professional or even polite about saying something like that but Forbes.com started it. Forbes seems to have a place for the Mahoning Valley on every negative list they produce and they produce an awful lot of lists. Last year we were one of the "Top Ten Fastest Dying Cities" (as if economic entropy won't get us all in the end). Today's entry is on the list of "Ten Worst Cities for Economic Recovery". Forbes uses data from Moody's and estimates that hell will freeze over before we get back on our feet.

Youngstown-Warren-Boardman, Ohio
GDP at start of recession: $16.3 billionEnd
of 2010: $15.4 billion (-6%, projected)Unemployment: 12.8%Median home/median
salary ratio: 1.4
The Youngstown region of western Ohio has struggled
throughout the decade with the decline of manufacturing, a problem that has
intensified during the recession. Moody's estimates that the economy of
Youngstown peaked in 2005 and will not recover to that size until early 2013.


Well, bravo Forbes! It's easy to see all those MBA's aren't going to waste. Between this list and all the others you've placed the "Youngstown-Warren-Boardman" area on you've made it clear that we've never fully recovered from the collapse of the steel industry or NAFTA. Do you have anything other shocking news for us? Is water still wet? Will the sky continue to be blue?

Howzabout creating a list of things that would encourage development in this area? Perhaps a list of the top ten business ventures in the area? You could even give it a snazzy name like "The Top Ten Businesses Making it in the least Likely Place We'd Think They Could!"

2 comments:

Janko said...

the Forbes people could also use a map.

Unless I've been in the dark all of these years, Youngstown is not in "Western Ohio"...

We are about as east as one can go, and the Ytown MSA actually contains Mercer County in Pennsylvania.

Mike Prelee said...

Geez...if they can't locate the area geographically it really puts their analysis of the economic data in doubt.