Cleveland Plus Business Brochure


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Cleveland Plus Business Brochure

  1. 1. 16 counties 2 million talented workers $170 billion GRP It all adds up for business. cleveland plus
  2. 2. Ashtabula Lake Cleveland Geauga Lorain Cuyahoga Summit Portage Trumbull dynamic Medina Akron Youngstown Mahoning Richland Ashland Wayne Stark Canton Columbiana low cost Carroll easy access *Distance from Cleveland PlusTM
  3. 3. and diverse economy corporate-friendly tax structure of living When you add a rich heritage, plus an innovative spirit, plus a dynamic and diverse economy together with genuine people ready to get the job done, it all adds up to Cleveland Plus®—one region that’s the right choice for business. With a commitment to diversity, a corporate- friendly tax structure and a low cost of living, the Cleveland Plus region features amenities and resources that add up to a smart business decision. to U.S. and Canadian markets 3
  4. 4. HEALTHY BUSINESS PROFILE + significant more than 160,000 businesses 160,000 businesses equals exponential opportunities + significant ongoing investment equals exponentia Northeast Ohio’s economy is diverse and growing. Building from our proud and profitable heritage in manufacturing, today our core expertise and opportunities include— Biomedical: We are a leader in clinical trials and research commercialization with more than 60 hospitals, including the Cleveland Clinic, 450 bio companies with 230,000 employees, and medical and pharma education. 20 percent of all clinical studies conducted in the U.S. are done in Ohio. Medical Devices: Close proximity to significant customers, suppliers and leading-edge research, coupled with a skilled manufacturing workforce makes this a prime growth sector. Professional Services (IT, Data and Call Center): A 100 percent fiber network means rapid design integration, and rich opportunity for data centers and back-office operations. Polymers: An international polymer hub, Northeast Ohio offers the top polymer science programs in the U.S., the nation’s highest concentration of polymer R&D and the largest concentration of plastics and rubber product producers, machines and materials in North America. Financial Services: Northeast Ohio is home to a Federal Reserve Bank, and is one of only three U.S. cities with more than one Money Center Bank headquarters. Advanced Manufacturing: 61 percent of Northeast Ohio’s manufacturing sectors have outperformed the U.S. average in these same sectors. Aerospace: With the only NASA center in the northern U.S. along with top aerospace companies, the region is rich in technological, engineering, metalworking and advanced manufacturing capabilities. Advanced Energies: Fuel Cell Expertise: Stark State Fuel Cell Prototyping Center and Wright Fuel Cell Group make the region a hub for fuel cell research, development and production. Wind Potential: A recent Renewable Energy Policy Project study ranked Ohio 2nd among the 50 states in wind component manufacturing potential because of our region’s supply chain. Our flat land and immense offshore potential with Lake Erie offers wind generation opportunity. Our diversified economy and culture are leading to growth in output and opportunity. In addition to these core industries, Northeast Ohio is home to 300 foreign-owned businesses, a significant base of minority-owned business and to some of the nation’s largest law firms. The region is a hub for food processing, where major brands such as Smucker’s, Nestlé, and Pierre Foods operate. In 2006 and 2007, Ohio was recognized by Site Selection magazine as #1 for new and expanded business facilities. Between 2003 and 2006, Cleveland Plus® has seen more than 650 attraction and expansion projects, creating tens of thousands of new jobs and generating close to $4 billion in investment. Expansions include— • TeleTech Holdings, Inc. • Infocision Management Corp. • Progressive Insurance • FirstEnergy • Rolls-Royce • Ben Venue Laboratories • FedEx • Sterling Jewelers, Inc. The Cleveland Plus gross regional product is more than $170 billion. Annually, Northeast Ohio attracts $450 million in technology and biomedical venture investment—the most in the Midwest. 4
  5. 5. ongoing investment COMPANY: The Timken Company LOCATION: Canton, OH “As we have grown our business globally, Timken has been proud to call Northeast Ohio home. The consistent combination of a talented al opportunities workforce, a commitment to innovation and INDUSTRY: a rewarding lifestyle make Northeast Ohio the Friction management and power transmission place to turn for great business opportunities.” NUMBER OF EMPLOYEES: Tim Timken 25,000 Chairman The Cleveland Plus® region has the 7th largest concentration of Fortune 500 companies in the U.S., including— Natural Rscs & Mining $1.3 Construction $5.2 Other Services $3.4 Leisure & Hospitality Government $4.7 $15.4 Manufacturing $37.5 Edu & Hlth Services $14.6 Prof & Bus Services ® $19.4 Trade, Trans, & Utils $31.9 Financial Activities $32.4 Information Northeast Ohio: 2007 GRP by Industry Group $5.9 Billions (2006 Dollars) 5
  6. 6. COMPANY: Invacare Corporation “From our headquarters in Ohio, Invacare LOCATION: has become the world leader in home Elyria, OH medical products. The state’s new tax INDUSTRY: laws will help us continue to grow.” Medical Equipment A. Malachi Mixon, III NUMBER OF EMPLOYEES: Chairman and CEO 6,000 Ohio’s new tax model promises a reduction in tax burden of up to 63 percent. The new tax reform— • Phases out corporate income tax • Eliminates tax on inventory, equipment and machinery investments • Lowers personal income tax, reduced by 21 percent • Exempts sales outside the state from taxation • Exempts the first $1 million in annual gross receipts Ohio Tax Reform Impact on Recent $150 Million Project $6,000 $5,000 Real Property Tangible Personal Property $4,000 State Corporate Franchise Tax State Commercial Activity Tax $3,000 $2,000 $1,000 $0 Before Tax Reform After Tax Reform Ohio’s tax reform generates substantial tax savings. 6
  7. 7. + business-friendly + bus attractive incentives tax structure attractive incentives equals a better bottom line equals a bette In the Cleveland Plus® region, you get big city advantages without big city costs. Tax Incentives • Ohio Job Creation Tax Credit • Ohio Job Retention Tax Credit • Ohio Research and Development Investment Tax Credit • Ohio Investment in Training Tax Credit • Ohio Manufacturing Machinery & Equipment Investment Tax Credit • Technology Investment Tax Credit • Research and Development Sales Tax Exemption • Manufacturing Machinery and Equipment Sales Tax Exemption • Warehouse Machinery and Equipment Tax Exemption • Warehouse Inventory Tax Exemption • Enterprise Zones and Community Reinvestment Areas Grants • Wright Centers of Innovation • Ohio Third Frontier Program • Brownfield Redevelopment Program Port Authorities 19 port authorities in the Cleveland Plus region offering: • Fixed-rate financing programs • Off-balance-sheet financing and leasing programs • Infrastructure financing programs • Foreign trade zones The new tax reform makes Ohio have the lowest taxes in the Midwest. Northeast Ohio’s economic output is the 12th largest in the U.S. and ranks in the top 50 worldwide. 7
  8. 8. ROBUST TRANSPORTATION INFRASTRUCTURE R + + 33 Class I railroads airports + Class I railroads + 2 international + 2 5 interstate highways 6 deepwater ports quals fast-paced, l equals fast-paced, low-cost logistics Northeast Ohio features one of the nation’s best logistics infrastructures. And the region reaches the largest number of consumers within a 250-mile radius of any metro market in the U.S. So no matter where business gets done, Cleveland Plus® will get you there faster and more efficiently. 2 airports keep costs competitive and add convenience • Cleveland Hopkins International Airport -350 flights daily to over 90 destinations -Major hub for Continental Airlines • Akron-Canton Airport -Second fastest growing U.S. airport 3 foreign trade zones keep businesses competitive in the global marketplace • FTZ 181 largest in U.S. • Ranked 2nd in employment • Ranked 3rd in exports • Ranked 12th in companies 2 intermodal terminals for fast, efficient shipping • CSX Intermodal Terminal • Neomodal Intermodal Terminal 2 international waterway connections • Lake Erie and St. Lawrence Seaway • Ohio-Mississippi River System Northeast Ohio features one of the nation’s best infrastructures according to Logistics Today magazine. Columbiana County features direct access to the Ohio River, which accounts for over one-third of the maritime cargo moving inland in the United States each year—more cargo per year than the Panama Canal. 8
  9. 9. COMPANY: “As a technology company, we could operate anywhere 2 international airports Turning Technologies, LLC in the country, but we chose Northeast Ohio because of the highly skilled available workforce, the large number LOCATION: of strong colleges and universities, the comparatively Youngstown, OH reasonable cost of operating a business, the central INDUSTRY: location in respect to our national population, and the low-cost logistics Software—Audience quality of life available in this area for our employees and Response Technology families. Likewise, the cooperation among government, education, nonprofits and business has been very NUMBER OF EMPLOYEES: valuable in facilitating that growth.” 145 Mike Broderick CEO, Turning Technologies, LLC Major City Cleveland Plus Transportation ® Airport Ashtabula Lake/River Port Interstate Highway Lake Erie U.S. Highway Mentor State Highway Lake Ashtabula Class 1 Railroad County Boundary Cleveland Geauga Lorain Elyria Trumbull Cuyahoge Cuyahoga Lorain Kent Warren Medina Summit Youngstown Medina Portage Akron Mahoning Richland Ashland Wooster Canton Columbiana Ashland Wayne Mansfield Stark East Liverpool Carroll 0 12.5 25 50 Miles Ohio 9
  10. 10. TALENTED, DEDICATED WORKFORCE COMPANY: Aleris International, Inc. “The Cleveland-Akron area affords us LOCATION: Beachwood, OH access to a sophisticated financial and professional community, as well 27 univ INDUSTRY: Aluminum Manufacturing as a high-quality workforce.” NUMBER OF EMPLOYEES: Steven J. Demetriou 6,000 Chairman and Chief Executive Officer Colleges and universities located in the Cleveland Plus® region— University of Akron Ashland University Baldwin-Wallace College Colleges & Universities Toronto Bryant & Stratton College Case Western Reserve University Cleveland Institute of Art College/University Cleveland Institute of Music 150-Mile Radius Cleveland State University Northeast Ohio Buffalo Canada Cuyahoga Community College Hiram College ITT Educational Services, Inc. Detroit Michigan John Carroll University Erie New York Kent State University Lake Erie College Lakeland Community College Toledo Lorain County Community Cleveland College District Malone College Akron Youngstown Mount Union College Pennsylvania Myers University Canton North Central State College Northeastern Ohio Universities Pittsburgh Colleges of Medicine Notre Dame College of Ohio Ohio Oberlin College Columbus Siegal College of Judaic Studies Dayton Stark State College of Technology Ursuline College Virginia Marti College Walsh University Cincinnati Source: IPEDS The College of Wooster Youngstown State University Plus, you’re only a short drive away from other esteemed universities— University of Cincinnati University of Michigan The Ohio State University University of Pittsburgh 10
  11. 11. versities universities2 29 colleges and + + million tale 2 million talented workers equals a smar equals a smart, productive, multicultural workforce Northeast Ohio features an educated talent base with degrees and Ph.D.s from world-renowned colleges and universities offering nationally ranked programs. • 26,000 degrees awarded annually • 175,000 degree-seeking students • 28,000 faculty and staff • Case Western Reserve Weatherhead School of Management is ranked the world’s best place to study organizational behavior • University of Akron Polymer Science and Polymer Engineering Program is ranked the #2 polymer science program in the country • Oberlin College boasts the highest rate of graduates to earn Ph.D.s Natural Rscs & Mining Construction 1% 4% Total Employment by NAICS Industry Group (2007) The Cleveland Plus® workforce is comprised of genuine people with an innovative spirit, Government Other Services willing to roll up their sleeves and get the 4% 14% job done. Manufacturing 15% Northeast Ohio features one of the world’s largest financial sectors and one of the Leisure & Hospitality nation’s largest legal communities, along 9% Trade, Trans, & Utils with growing professional and technical 18% services, skilled laborers and a diverse, Edu & Hlth Services multilingual talent base. Our extensive 15% background in advanced manufacturing, innovative research and design, engineering and maximized productivity is an ideal combination for growth. Information 2% Prof & Bus Services Financial Activities 12% 6% 11
  12. 12. 3 major sports teams + world-renowned arts, culture and UNEQUALED QUALITY OF LIFE + a low cost of living equals a rich, 3 major league sports teams + world-renowned arts, culture and health care yet affordable, life + a low cost of living equals a rich, yet affordable, lifestyle It all adds up to a unique quality of life in Northeast Ohio. • Average commute is 24 minutes • 120 ethnic communities • Median home sale price is $138,500 • U.S.News and World Report top-ranked hospitals, including Cleveland Clinic, University Hospitals Case Medical Center and Rainbow Babies & Children’s Hospital and Summa Health System; also known for Akron General Medical Center and Akron Children’s Hospital Plus, our region features professional networks and human capital development that connect civic-minded individuals with business and community enhancement opportunities. • Regional leadership opportunities for the emerging, current and experienced professional • Professionals of all ages and experience levels can engage in and lead community groups • One of the nation’s most philanthropic communities • More than 25 young professional groups Cost of living is more than 10% below the national average. Cleveland was ranked the most livable city in the U.S. in 2005 by The Economist. The largest performing arts center in the country outside of New York City. The Cleveland Orchestra is ranked one of the top three orchestras in the world. RTA public transportation voted the best in the U.S. in 2007. 12
  13. 13. d health care COMPANY: “The quality of life offered by Northeast Ohio Ben Venue Laboratories, Inc. couldn’t be better for our employees. Housing is LOCATION: very affordable with many different community Bedford, OH options. The region supports the arts, history, estyle INDUSTRY: Pharmaceutical Manufacturing NUMBER OF EMPLOYEES: 1,118 culture, entertainment, sports and so much more, giving many choices to our employees.” Thomas J. Murphy President and COO Plus, there’s something for everyone— The Arts Attractions Akron Art Museum Alpine Valley Ski Resort Akron Symphony Amish Country The Butler Institute of American Art Blossom Music Center Canton Symphony Boston Mills/Brandywine Ski Resort Cleveland Museum of Art Cedar Point Cleveland Museum of Natural History Cuyahoga Valley National Park Cleveland Orchestra Firestone Country Club Playhouse Square Lake Erie Stan Hywett Hall and Garden National Inventors Hall of Fame Youngstown Symphony Orchestra Pro Football Hall of Fame Rock and Roll Hall of Fame and Museum Snow Trails Ski Resort Thistledown Thoroughbred Racing Wine Country Events Professional Sports Cleveland Grand Prix Akron Aeros Cleveland National Air Show Cleveland Browns Honda Indy 200 and Supercycle Weekend Cleveland Cavaliers at Mid–Ohio Sports Car Course Cleveland Indians Ingenuity Fest Lake County Captains National City Home and Garden Show Lake Erie Monsters Pro Football Hall of Fame Festival 13
  14. 14. Bienvenue Welcome Willkommen Bienvenido 14 Cert no. SW-COC-002546
  15. 15. cleveland plus