0
MONTHLY
ECONOMIC
UPDATE
columbusregion.com 614-225-6063
MAY 2014
Jobs: 300 Created
Investment:
Facilities: Manufacturing
1
$20 Million
CASE STUDY: BOCCHI LABORATORIES
COLUMBUS 2020 MONTHL...
2
ATTRACTION PROJECTS:
DOMESTIC/INTERNATIONAL
ATTRACTION PROJECTS:
SUSPECTS AND PROSPECTS
ATTRACTION PROJECTS:
PROJECTS BY...
BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES
MAY 2014 COMPLETED ACTIVITIES
JUNE 2014 PLANNED ACTIVITIES
Columbus
Area Deve...
MAY 2014 Performance:
23 visits in May (147 YTD)
Visits conducted by:
CASE STUDY: HOMAGE
Jobs: 28 jobs created; 42 jobs re...
Source: U.S. Patent and Trademark Office
CASE STUDY: HERITAGE COOPERATIVE
Jobs: 20 jobs created; 256 jobs retained
Investm...
6
ECONOMIC DEVELOPMENT NEWS
COLUMBUS 2020 MONTHLY UPDATE | MAY 2014
TRANSPORTATION & INFRASTRUCTURE POLICY & ADVOCACYCOLUM...
Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted
Source: Xceligent Source:...
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Monthly Economic Update | May 2014

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The Columbus Region Monthly Economic Update reports on the job growth progress of Columbus 2020 and its local and regional partners. This update also features the successes of: Bocchi Laboratories, a California-based manufacturer that is opening a new facility in New Albany's International Beauty Campus that will create 300 jobs; Homage, a vintage-inspired apparel retailer that will consolidate and expand its Columbus headquarters and distribution operations; and Heritage Cooperative, which is investing $35 million in Union County to add a 277-acre agricultural campus and research farm.

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Transcript of "Monthly Economic Update | May 2014"

  1. 1. MONTHLY ECONOMIC UPDATE columbusregion.com 614-225-6063 MAY 2014
  2. 2. Jobs: 300 Created Investment: Facilities: Manufacturing 1 $20 Million CASE STUDY: BOCCHI LABORATORIES COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 PROJECTS MAY 2014 AND YEAR-TO-DATE FIRST-TIME VISITS (2013 vs. 2014)NUMBER OF PROJECTS STARTED (2013 vs. 2014) PERCENT OF PROJECTS STARTED - MANAGED BY COLUMBUS 2020 (2013 vs. 2014) 87% 89% 100% 72% 76% 69% 77% 68% 65% 80% 81% 65% 85% 79% 70% 77% 50% 0% 20% 40% 60% 80% 100% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2 5 4 4 7 5 8 5 4 7 4 3 2 3 4 5 4 0 4 8 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 23 28 17 25 29 16 22 19 17 20 16 2020 24 20 30 22 0 10 20 30 40 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 Bocchi Laboratories, a producer of health, beauty and personal care products, is expanding to New Albany. The California-based company will build a 130,000 square foot facility in the New Albany International Beauty Campus and bring 300 jobs to city. The project will generate $148,000 in annual income taxes for New Albany. The facility is expected to open by July 2015 and the company has the option for a 57,000 square foot expansion. According to CEO, Joe Pender, the second facility will give the company improved access to the eastern U.S. Jobs will include management, engineering, logistics and production positions for a total annual payroll of $7.5 million. **Balance of started projects sourced - managed by JobsOhio
  3. 3. 2 ATTRACTION PROJECTS: DOMESTIC/INTERNATIONAL ATTRACTION PROJECTS: SUSPECTS AND PROSPECTS ATTRACTION PROJECTS: PROJECTS BY SECTOR ATTRACTION PROJECTS: PROJECTS BY SOURCE COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 ACTIVE PROJECTS AS OF MAY 31, 2014 TOTAL ACTIVE PROJECTS (161 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 68 46 0 20 40 60 80 100 Suspect Prospect Suspects = Projects identified and qualified via direct dialogue with the company or consultant representing the company. Prospects = Projects qualified, parameters defined and the company or consultant has visited the Region. 71% 29% New Existing 60% 5% 35% Columbus 2020 Local ED partners JobsOhio 62% 19% 19% Columbus 2020 Local ED partners JobsOhio 15 5 26 1 0 5 10 15 20 25 30 35 40 42 9 52 11 0 10 20 30 40 50 60 53% 47% Domestic International 83% 17% Domestic International
  4. 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES MAY 2014 COMPLETED ACTIVITIES JUNE 2014 PLANNED ACTIVITIES Columbus Area Development Consultants Forum Philadelphia The World Forum for FDI BUSINESS DEVELOPMENT MISSIONS: New York, Atlanta, Greenville, Chicago 3 COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 West Coast/Vancouver: The Columbus 2020 team visited the Los Angeles, San Diego, San Francisco, Seattle, and Vancouver markets to hold meetings with companies and consultants. Dallas: The Columbus 2020 team participated in a market visit along with JobsOhio to meet with site selection consultants and promote Ohio and the Columbus Region. Minneapolis: The Columbus 2020 team atteneded the 2014 IEDC Spring Conference to learn about the latest trends in existing and emerging industries and regional talent retention strategies. Japan/Korea: The Columbus 2020 team met with companies in Japan considering investment in the U.S, and participated in the SelectUSA Conference in Korea. UK/Sweden: The Columbus 2020 team conducted an international mission to the UK and Sweden, holding meetings with companies to discuss U.S. investment opportunities.
  5. 5. MAY 2014 Performance: 23 visits in May (147 YTD) Visits conducted by: CASE STUDY: HOMAGE Jobs: 28 jobs created; 42 jobs retained Investment: Facilities: Headquarters; Distribution 4 $490,000 COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 BUSINESS RETENTION & EXPANSION | MAY 2014 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR Homage, the Columbus-based maker and seller of vintage- inspired apparel, is consolidating and expanding its operations into a 30,000 square foot building near Port Columbus International Airport. The new location will serve as the headquarters and distribution facility for the company that has been growing rapidly since 2007. The nearly $500,000 investment will include upgrades to the building, space, equipment and employee training. Homage will retain its 42 existing jobs and add 28 new jobs. Pennsylvania and Michigan were competition for this expansion project, but incentives approved by the Ohio Tax Credit Authority assisted to retain the local company. 57%26% 17% Columbus 2020 only Local ED partner only Both 2020 and LEDO 11 6 3 2 1 0 2 4 6 8 10 12 7 5 8 1 2 0 5 10 15 20 25
  6. 6. Source: U.S. Patent and Trademark Office CASE STUDY: HERITAGE COOPERATIVE Jobs: 20 jobs created; 256 jobs retained Investment: $38.5 million Facilities: Logistics and distribution 5 Source: Ohio Secretary of State *Note: Registrations are only an indicator of business formation and do not represent actual new businesses. For example, a registration may be filed to reserve a business name or for other reasons in advance of a potential business. Dissolutions, surrenders and withdrawals do not include mergers, consolidations, reinstatements and other changes that may lead to a loss of a business. In addition, not all businesses that close make a filing. BUSINESS CREATION BUSINESS DISSOLUTIONS, SURRENDERS, WITHDRAWALS PATENTS BY REGION INVENTORS & ASSIGNEES NEW BUSINESS REGISTRATION* COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 Heritage Cooperative has plans to build a $35 million facility in Marysville along the U.S. 33 corridor and CSX rail line. The 277 acre agricultural campus and research farm expands upon the Region's strong agbioscience industry and leverages a strategically connected location. Rail access will allow the co- op members opportunity to easily move products from fields and decrease delivery time to markets where products are sold. According to the CEO of Heritage Cooperative, Eric Parthemore, the new site will allow the cooperative to deliver cutting-edge efficiency, improved access to markets and access to agricultural technologies that will position members to remain competitive. The facility is expected to open in September 2015 and will create 20 full-time and 15 part-time jobs.. 1,314 1,283 1,446 1,390 500 750 1000 1250 1500 Jan Feb Mar Apr 269 155 198 202 0 50 100 150 200 250 300 Jan Feb Mar Apr 60 21 96 26 60 19 113 31 Inventor Assignee Jan Feb Mar Apr
  7. 7. 6 ECONOMIC DEVELOPMENT NEWS COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 TRANSPORTATION & INFRASTRUCTURE POLICY & ADVOCACYCOLUMBUS REGION IN THE NEWS Columbus ranked No. 6 most affordable housing market for middle class According to Trulia, 81 percent of homes for sale in Columbus are affordable for middle class. Affordability is based on whether the total monthly payment - mortgage, insurance and property taxes - is less than 31 percent of the metro area's median household income. http://on.trulia.com/1jpqGQK Columbus ranks 8th among best cities for information jobs in 2014 New Geography looked at MSAs that have at least 10,000 information jobs - which includes software, publishing, broadcasting and telecommunications services - and ranked them based on job growth in the sector over the long-term (2002-13), mid-term (2008- 13) and the last two years, as well as recent momentum. http://bit.ly/1pW8fM1 Columbus 2020 named a top economic development organization Columbus 2020 received Honorable Mention from Site Selection magazine, making the organization one of the top 20 in the U.S. The organizations were evaluated on a variety of criteria, with four objective measurements counting the most: jobs, capital investment, jobs per capita and investment per capita. http://bit.ly/1hBIzSe For all of the latest news, visit: http://columbusregion.com/Media-center/Recent- News.aspx Incubator being created for nonprofits A TechColumbus-like incubator and investment fund is being created in Central Ohio to assist local nonprofits. The Community Investment Network of Central Ohio (CINCO Fund LLC) and Center for Social Enterprise Development are designed to assist nonprofits generate revenue and teach them how to become more self-sustaining. The effort is being led by three Central Ohio nonprofit advisors who are working with the fund's advisory board to introduce the business model and generate investors. For more information, visit: http://bit.ly/1mHGvo9 Cargolux expanding cargo service at Rickenbacker Cargolux Airlines International is adding an extra cargo flight per week between Columbus and Hong Kong. Currently the company operates two flights per week. Cargolux has been operating in Columbus since June 2013 and delivered 1.1 million pounds of cargo in March 2014. To compare, the new service by Cathay Pacific delivered 236,000 pounds from Hong Kong in the same month, and market leader FedEx moved almost 8 million pounds from multiple locations. David Whitaker, Columbus Regional Airport Authority vice president of business development, has expressed satisfaction that the operation is working for Cargolux. The next goal is to align international flights with exports from the Region. For more information, visit: http://bit.ly/1tOUHzp
  8. 8. Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted Source: Xceligent Source: Columbus REALTORS 7 $3.00 $9.39 Industrial Retail 6.1% 9.0% Source: Ohio Department of Job and Family Services Direct Asking Rent (per sf) Vacancy Rate Use Office 14.5% COMMERCIAL REAL ESTATE (AS OF JUNE 2) HOUSING SALES $15.75 COLUMBUS 2020 MONTHLY UPDATE | MAY 2014 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (APRIL 2014) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 3/8/14 TO WEEK ENDING 5/31/14) 5.3% (-2.3) Marion 26,807 (-406) 4.4% (-2.5) Knox 29,160 (+693) Unemployment rate (April 2014) Number employed residents (April 2014) Change from April 2013 to April 2014 3.7% (-1.3) Delaware 92,401 (+1,628) 4.5% (-1.9) Fairfield 71,894 (+1,416) 4.6% (-1.6) Franklin 608,593 (+9,503) 4.3% (-2.4) Licking 81,313 (+1,673) 4.8% (-1.2) Madison 19,091 (+397) 4.7% (-2.9) Morrow 16,579 (+407) 5.1% (-2.4) Pickaway 23,316 (+470) 3.9% (-2.0) Union 25,973 (+512) 4.4% (-2.3) Logan 22,396 (+526) 0 400 800 1,200 1,600 2,000 2,400 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 3/8 3/15 3/22 3/29 4/5 4/12 4/19 4/26 5/3 5/10 5/17 5/24 5/31 Continuing New 3,991 3,820 2,508 $164K 3,706 3,383 2,195 $176K New Listings In Contracts Closed Sales Average Sales Price Apr 2013 Apr 2014
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