May cleantechreport
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May cleantechreport May cleantechreport Presentation Transcript

  • NEO Total Employment Quarterly economic indicators 2.10 “Green” is a hot topic. 2.05 NEO Quarterly Unemployment Rate Everyone seems to be discussing it, and every 12.6% country, state and community is competing 2.00 to win the industry. But what does “green” really mean to the future of the Cleveland Plus region? 1.95 10.5% As states rapidly develop policies for renewable 1.90 Cleveland Plus Economic Review ® energy use, products such as wind turbines May 2010 Volume 4, Issue 1 and solar are in increasingly higher demand. 8.3% These products require the same materials 1.85 that propelled Northeast Ohio to its prominence Our partners include: Greater Cleveland Partnership, throughout the 20th Century, such as steel, 1.80 Greater Akron Chamber, Stark Development Board, composites, coatings and bearings. Team Lorain County, Youngstown-Warren Regional Chamber, 2005 2006 2007 2008 2009 2010 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 2004 2004 2004 2004 6.2% (Millions) In fact, many wind turbine components Q1 Q2 Q3 Q4 Medina County Economic Development Corporation, are already made in Northeast Ohio. Source: Ohio Labor Market Information (LAUS Data) Growth Partnership of Ashtabula County Coatings from Sherwin-Williams help protect 4.0% NEO EMPLOYMENT SEES DECLINE IN Q1 This chart shows materials from nature’s elements, while total employment year over year for comparison of seasonal Timken bearings help propel the blades. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 patterns. Total employment declined to 1.87 million in the 2003 2004 2005 2006 2007 2008 2009 2010 1st quarter. Year over year, total employment has declined This report looks at how Cleveland Plus industries Ohio NEO 16 US approximately 2%, and is down 6.6% compared to Q1 2008. and expertise are fueling the next generation of Source: Ohio Labor Market Information (LAUS Data) energy products, known as “Cleantech,” making NEO UNEMPLOYMENT RATE INCREASES IN Q1 The Northeast NEO Occupied Industrial Space us well-positioned for the future global economy. Ohio unadjusted unemployment rate increased to 11.6% in the 1st quarter of 2010. The State of Ohio (11.7%) and the U.S (10.4%) 406 & Vacancy Rate 9.5% Cleveland Plus well-positioned for also saw increases. 404 9.0% Occupied Square Feet (Millions) “green” Cleantech 402 8.5% NEO Real GRP in billions 400 $190 Vacancy Rate economy. 398 8.0% 0.6% $180 2.4% (-.7%) 1.8% (-1.8%) 396 2.6% 1.2% 0.3% 1.2% 7.5% $170 (-1.9)% (-6.4%) 4.8% 394 $160 3.0% 7.0% 3.8% 392 $150 5.1% 6.5% 390 $140 388 6.0% Q3 Q1 Q2 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 $130 2006 2007 2008 2009 2010 $120 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Occupied Space Vacancy Rate Real GRP Average Annual Growth = 1.5% Source: CoStar Industrial Data Source: Moody’s Economy.com INDUSTRIAL SPACE RELATIVELY STABLE This graph shows GRP ESTIMATES PROJECTED TO INCREASE The most recent quarterly occupied space and vacancy rates for industrial estimates from economy.com show Northeast Ohio’s GRP space between the first quarter of 2006 and the first quarter increasing in 2010 by 3.1%. This is the first increase since the of 2010. In Q1 of 2010, the vacancy rate increased slightly to recession began in December 2007. 8.5%, while occupied space remained relatively stable. About Team NEO : Team NEO advances Moody’s Economy.com county level output, These counties include Ashtabula, Northeast Ohio’s economy by attracting employment and payroll historical data are Cuyahoga, Geauga, Lake, Lorain, businesses worldwide to the 16-county estimated from several publicly available Medina, Portage, Richland, Cleveland Plus region. The organization sources and are summarized into the Team NEO Stark and Summit. Ashtabula is a joint venture of the region’s largest metro regional footprint. It is important to understand Lake chambers of commerce. Since 2007, the data provided by Economy.com are estimates organization has attracted 33 new company of economic activity. expansions or relocations, 3,200 new jobs and Cleveland Geauga $100M in annual payroll to Northeast Ohio, Team NEO also uses data from federal and state Cuyahoga leading to a total annual regional payroll sources as part of the report. We rely heavily Lorain Trumbull benefit of $260M. For more information, on data from the U.S. Bureau of Labor Statistics visit www.clevelandplusbusiness.com. (www.bls.gov) and Ohio’s Labor Market Summit Portage Information (www.lmi.state.oh.us) for information Medina Akron Youngstown Data Sources: Team Northeast Ohio uses a on wages, unemployment and both general Mahoning number of data sources for the Regional and industry-specific employment. Economic Review. One of the primary sources is Ashland Industrial real estate data for this edition was Wayne Canton Columbiana the Moody’s Economy.com (www.economy.com) Richland Stark Northeast Ohio modeling system. derived from the CoStar Group. Due to market limits within the CoStar database, historic trend data for the Team NEO region is defined as 10 of Carroll the 16 counties forming the regional footprint. Cleveland Plus 16-County Region This report made possible through 737 Bolivar Road, Suite 2000, Cleveland, Ohio 44115 FPO the generous support of Dominion. 888.NEO.1411 • www.clevelandplusbusiness.com www.clevelandplusbusiness.com www.clevelandplusbusiness.com
  • Cleveland Plus Manufacturing Expertise Offers Defining the “Cleantech” Cleveland Plus Cleantech Supply Chain Strong Base for Cleantech Supply Chain Industry Stronger than U.S. Average Key Cleantech supply chain industries are much stronger in Northeast Ohio than the national average. Location Many of the products in the Cleantech supply chain are the same materials and components used in automotive, Cleantech is a fairly new term, and new industry. Quotients (LQ) show how prominent a certain industry is compared to the U.S. as a whole. As indicated in this LQ chart, aerospace and other more traditional manufacturing industries. Northeast Ohio is home to hundreds of companies According to Wikipedia, “Cleantech” is a term used Northeast Ohio LQ values are significantly higher in many Cleantech supply sectors. For instance, Fabricated Metal has that are leaders in their fields, producing components for the Cleantech economy. The industries that the California to describe knowledge-based products or services an LQ value of almost 6 in Northeast Ohio, meaning that the Cleveland Plus region is producing 600% more fabricated Green Digest defines as part of the Cleantech supply chain collectively represent $12.5 billion (7.5%) of Northeast that improve operational performance, productivity, metal than the national average. With so much capacity, Northeast Ohio is poised to export goods to wind turbine Ohio’s economy today and are projected to grow more than 20% between 2010 and 2015. This sector represents or efficiency while reducing costs, inputs, energy manufacturers globally. 36% of all manufacturing in Cleveland Plus. consumption, waste, or pollution. As part of an ongoing effort to analyze the emergence Concentration of Cleantech Northeast Ohio GRP for Top 10 of a “green” economy, the California Labor Market Information has put together a California Green Digest Supply Chain in Cleveland Plus Cleantech Related Manufacturing Sectors that defines manufacturing inputs to the “Cleantech” supply chain. The Digest aggregates national studies Other Nonmetallic Mineral Products to define the inputs required to manufacture Cleantech Plastics Products Paint, Coating and Adhesives devices, such as wind turbines. Materials, components Clay Product and Refractory and products required for these devices include steel, Bolier, Tank, and Shipping Containers Foundries plastics and coatings, much of which is already made Other General Purpose Machinery Rubber Products in Northeast Ohio, or holds opportunity based on the Paint, Coating and Adhesive region’s assets. Architectural and Structural Metals Rubber Products Printing and Related Support Activities Foundries Other Fabricated Metal Products Basic Chemicals Iron and Steel Mills and Ferroalloy Iron and Steel Mills and Ferroalloy Other General Purpose Machinery 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 Northeast Ohio LQ National Plastics Products manufactures Average LQ Value Source: Economy.com and California LMI Other Fabricated Metal Products many turbine components. $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 Cleantech Industries Millions 2009 Source: Economy.com and California LMI Propelled by Strong Workforce The Cleveland Plus workforce is well positioned to meet the demand to build Cleantech products. The organization O-NET, a branch of the U.S. Department of Labor, has identified green related occupations expected to see a significant increase in demand due to the emergence of Cleantech related industries. In many of these occupations, Cleveland Plus has an above average share of workers. Of the 27 increased demand occupations identified, Cleveland Plus has more than 130,000 workers, and 20 of these occupations have an LQ at 1 or above. This means that Cleveland Plus is not a sampling Windmill Blades + Cardinal Fastener & Specialty Co., Inc. only producing Cleantech products, but the workforce needed is already in place. of companies . + Dyson Corporation + ITW Anchor Fasteners Top 10 Occupations for that are making + Summit Machine, Ltd. Cleantech Related Supply Chain wind components Gearbox + Federal Gear today + American Friction Technologies Total of All Green Increased Demand Occupations + Kaydon Corporation Laborers and Material Movers First-Line Supervisors of Production Hub & Structure “The Sherwin-Williams Company has developed industry Mixing & Blending Machine Operators + The Timken Company leading coatings technologies at its Cleveland-based + Elyria Foundry Company Chemical Equipment Operators & Tenders research & development center to support our nation’s growing investment in alternative energy assets. Tower Industrial Production Managers With regional manufacturing strength in steel, + NSK Industries Incorporated Materials Scientist fiberglass, resins, electronic control systems, + Stahl Gear and Machine Co. Drilling & Boring Machine Tool Setters and storage capabilities, Northeastern Ohio offers + Jacobson Mfg., LLC significant opportunities for partnerships in this fast Plastics Product Cutting, Punching & Press Machine Setters growing market.” Coatings Computer-Controlled Machine Tool Operators + Sherwin-Williams Christopher M. Connor, Chairman & CEO, The Sherwin-Williams Company 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 LQ National LQ Value Source: O-NET and Bureau of Labor Statistics Source: Great Lakes Wind Network Average