Sandra Pianalto, president and CEO of Federal Reserve Bank of Cleveland, writes in op-ed for The Plain Dealer: "I believe that our land values will rise only when our neighborhoods and communities become more appealing places to live and work. We need to offer a variety of amenities such as good schools, access to transportation, safety, and green spaces to retain our existing residents and attract new people to our neighborhoods. Communities that can attract residents with the skills to earn good incomes should see an increased demand for housing, and in turn, neighborhood revitalization. To accomplish this, however, we must look beyond the narrow topic of housing to the broad topic of human capital. "I have said it before and I say it again: addressing educational issues is critical to reversing the decline in our city and our region. Research has repeatedly shown that with higher levels of education, people are able to earn higher incomes. Yet area employers tell us that they are having a hard time finding highly skilled workers to fill open positions. The educational attainment levels of Cleveland residents are far below the state average, and Ohio itself falls well below the national average. We have some serious work ahead of us. "The good news is that we have a solid foundation in place already."
Posted on: Sun, 11 Aug 2013 13:56:21 +0000
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