Tech Drives 85% Increase in Food and Beverage GRP

CLEVELAND, Ohio — In its quarterly report, Team NEO finds growth in the food and beverage manufacturing gross regional product, or GRP, in northeastern Ohio exceeded that of national numbers.

From 2007 to 2018, food and beverage manufacturing GRP increased 85%, compared to national growth of 46%, according to the nonprofit organization’s quarterly Economic Review. The increase is driven largely by technological advances, including the Internet of Things, which fueled a 34% increase in productivity during that time, compared with a U.S. productivity increase of 2%, according to Team NEO.

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Story excerpt provided by The Business Journal.

Originally published June 10, 2019.

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