Cleveland's location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as a major American manufacturing center. Steel and many other manufactured goods emerged as its industries.[122]

The city has sought to diversify its economy to expand beyond on its manufacturing sector. Cleveland is the corporate headquarters of many large companies such as Applied Industrial Technologies, Eaton, Forest City Enterprises, Sherwin-Williams Company and KeyCorp. NASA maintains a facility in Cleveland, the Glenn Research Center. Jones Day, one of the largest law firms in the world, traces its origins to Cleveland, and its Cleveland office remains the firm's largest.[123]

In 2005, Duke Realty Corp., one of the area's largest landlords, announced it was selling property in Cleveland; however, the company continues to maintain a large office building portfolio in the southern suburbs.[124][125] The commercial real estate market rebounded in 2007 as office properties were purchased at a record pace.[126][127] and ten percent of the city's homes are now vacant, due in part to the rise in foreclosure filings.[128][129]





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