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A popular misconception about Northeast Ohio's economy is it's losing jobs because the corporate headquarters are moving out.

Turns out, from 2000 to 2006, corporate and division headquarters were one of the largest drivers of job growth in Northeast Ohio — more than the banking, hospital and insurance industries — according to Ned Hill, professor and distinguished scholar of economic development at the Maxine Goodman Levin College of Urban Affairs at Cleveland State University.

Hill revealed the little-known trend during a presentation at a quarterly economic review held in October by Team Northeast Ohio, better known as Team NEO, the economic development organization.

"Corporate headquarters are one of the strongest industries in Northeast Ohio," said Hill, adding job growth at these facilities grew between 5 and 7 percent from 2000 to 2006 and produced an increased economic output of 8 to 12 percent in that time. The growth of these central operation facilities underscores the importance of Cleveland Hopkins International Airport and Akron Canton Airport to the region, he said.

Hill, whose lecture included numerous PowerPoint slides featuring overlapping circles, lines and colors representing Northeast Ohio industries and economic indicators, had some attendees in the packed Doubletree Hotel conference room in Independence looking a little perplexed. But his message was clear: Education and keeping those educated people here are the keys to grow those corporate headquarters and the economy.

"Technical education is every bit as important [as a four-year degree]," Hill said. "It's a very critical part of the mixture."