Quarterly Economic Update | Q1 2014
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Quarterly Economic Update | Q1 2014

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Our 2014 Q1 report, with updates on job growth, industry sectors, and more.

Our 2014 Q1 report, with updates on job growth, industry sectors, and more.

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    Quarterly Economic Update | Q1 2014 Quarterly Economic Update | Q1 2014 Presentation Transcript

    • QUARTERLY ECONOMIC UPDATE Q1 2014 columbusregion.com 614-225-6063
    • TABLE OF CONTENTS Employment, labor force and unemployment . . . . . . . . . . . .2 Employment by industry. . . . . . . . . . . . . . . . . . . . . . . . . 3 Current employment statistics revisions . . . . . . . . . . . .5 Commercial real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Airport passengers and cargo . . . . . . . . . . . . . . . . . . . . .7 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 GDP and inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Columbus 2020 performance. . . . . . . . . . . . . . . . . . . . . .11 Notable expansions and locations . . . . . . . . . . . . . . . . . .13 1 QUARTERLY ECONOMIC UPDATE | Q1 2014 The Columbus 2020 economic update for the first quarter of 2014 covers regional economic data and economic development activities from January to March. The analysis of the regional economy (pages 1 to 9) was prepared by Bill LaFayette, Ph.D., RegionomicsTM LLC. FOREWORD By Frank Wojcik Senior Portfolio Manager, Fifth Third Private Bank Despite a harsh winter that negatively impacted many parts of Ohio and during the first quarter of 2014 with the unemployment rate declining to 4.9 percent in March from 5.8 percent in December. Because of a diverse and sustainable economic base, the Central Ohio job environment remains more constructive than the majority of Ohio and the United States. With total payroll employment now approaching one million, we are steadily increasing our importance as a metropolitan area. Employment increased in logistics, healthcare, leisure and government services, while severe winter weather negatively impacted retail and housing related activities. Expectations are that real estate construction will resume in the coming months and job creation should accelerate in these areas. Also being watched with curiosity is the potential impact of the Utica Shale drilling in eastern Ohio. Several Central Ohio firms are involved in the exploration and distribution of oil and natural gas. A successful energy production outcome should result in further job creation associated with these activities. Several years ago Central Ohio leaders from government, business and education formulated a plan to invest in job training, education, infrastructure and redevelopment of neglected neighborhoods. We are now beginning to reap the rewards of a collaborative effort by the people in our community who did not wait for the local economy to recover, but made the recovery happen. Congratulations and thanks to all involved for their hard work and foresight. While many parts of the U.S. and the world are striving to recover from the recession levels, Central Ohio has exceeded prior peak levels of economic growth, setting an example for other cities on how to structure sustainable growth.
    • TOTAL PAYROLL EMPLOYMENT Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Source: Local Area Unemployment Statistics, Bureau of Labor Statistics. Seasonal adjustment of MSA employment by Regionomics LLC. Seasonal adjustment of regional rate by Regionomics LLC. COLUMBUS REGION LABOR FORCE Source: Local Area Unemployment Statistics, Bureau of Labor Statistics. Seasonal adjustment of regional rate by Regionomics LLC. 2 QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT, LABOR FORCE, UNEMPLOYMENT RATES COLUMBUS REGION UNEMPLOYMENT RATE  Columbus MSA employment increases less than average in the first quarter: Columbus MSA employment in March was 982,800, which is 1,800 (0.2 percent) higher than in December. Ohio employment increased 0.3 percent and U.S. employment increased 0.4 percent. Employment growth over the past 12 months was 11,800 (1.2 percent) for the MSA, 1.0 percent for Ohio, and 1.7 percent for the U.S.  Regional unemployment rate declines: The 11- -adjusted unemployment rate fell from 5.8 percent in December to 4.9 percent in March. The December rate was lower than both the 6.1 percent Ohio unemployment rate and the 6.7 percent U.S. rate.  The decline in the Columbus Region unemployment rate was driven both by a decline of 3,600 in the labor force and an increase of 6,700 in the number of employed residents.  Gap between normal and actual labor force growth increases: The difference between reported labor force and the level assuming normal growth increased from 47,000 in December to 54,000 in March. 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 0% 2% 4% 6% 8% 10% 12% 1/08 5/08 9/08 1/09 5/09 9/09 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Columbus Region Ohio U.S. 900 950 1,000 1,050 1,100 1,150 1/08 5/08 9/08 1/09 5/09 9/09 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Thousands Labor force Labor force, normal growth Resident employment
    • MANUFACTURING *Excluding computer design and related services. PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN & RELATED SERVICES FINANCE & INSURANCE Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Seasonal adjustment of MSA employment by Regionomics LLC. 3 QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT BY INDUSTRY LOGISTICS: TRANSPORTATION, WAREHOUSING & WHOLESALE MSA SHARE OF EMPLOYMENT BY INDUSTRY, MARCH 2014 Logistics 8.9% Manufacturing 7.0% Professional & business svcs* 14.5% Computer design & related svcs 1.8% Finance & insurance 6.2%Healthcare & social assistance 12.4% Leisure & hospitality 10.2% Government 16.8% Retail trade 10.0% Other 12.2% 96 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 112 114 116 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 125 130 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S.
    • LEISURE & HOSPITALITY QUARTERLY EMPLOYMENT CHANGE BY INDUSTRY GOVERNMENT RETAIL TRADE Industry MSA empl. chg. OH US % % % Manufacturing +0.4 +0.5 +0.2 Retail trade 0.0 -1.5 0.0 Logistics -0.8 +0.3 +0.5 Finance & insurance -2.0 -0.7 -0.1 Professional & business services -1.9 +1.3 +1.0 Computer design & related svcs. 0 0.0 -0.7 +1.0 Healthcare & social assistance +2.5 +0.4 +0.4 Leisure & hospitality +1.1 +1.4 +0.6 Government +1.1 -0.5 -0.1 4 HEALTHCARE & SOCIAL ASSISTANCE QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT BY INDUSTRY (continued) -3,200 -1,300 0 No. -700 +300 +1,100 +1,800 +3,000  Charts on pages 2 and 3 show Columbus MSA employment growth compared to state and national averages since the beginning of 2010.  Above-average gains in healthcare, leisure and government together accounted for an increase of 5,900 jobs during the first quarter.  Of the 1,800-job gain in government, 1,400 was due to state government, which has driven the above- average growth of government employment since 2010.  Within business services, administrative support lost 2,300 jobs, professional and technical services (including computer services) lost 700, and corporate administration lost 200. 95 100 105 110 115 120 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 125 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 94 96 98 100 102 104 106 108 110 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S.
    • TOTAL PAYROLL EMPLOYMENT MONTHLY TOTAL PAYROLL EMPLOYMENT ANNUALLY Seasonal adjustment by Regionomics LLC. MANUFACTURING WHOLESALE TRADE RETAIL TRADE Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. 5 QUARTERLY ECONOMIC UPDATE | Q1 2014 CURRENT EMPLOYMENT STATISTICS REVISIONS  The Bureau of Labor Statistics released its annual revision of the monthly Current Employment Statistics in March. As in recent years, Columbus MSA employment was revised significantly upward. Average 2012 employment was increased by 6,200 and 2013 employment was increased by 17,100 (1.8 percent).  Employment estimates for 2013 were revised upward for most sectors, especially retail trade (3,700), financial activities (3,300), government (3,100) and professional and business services (2,900).  Employment totals for 2012 are final, while 2013 will be revised again next year. Employment will be comprehensively restated next March, however, to reflect the addition of Hocking and Perry counties to 60.0 62.0 64.0 66.0 68.0 70.0 72.0 74.0 76.0 78.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 36.5 37.0 37.5 38.0 38.5 39.0 39.5 40.0 40.5 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 900.0 910.0 920.0 930.0 940.0 950.0 960.0 970.0 980.0 990.0 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 Thousands Pre-rev. Post-rev. 880.0 900.0 920.0 940.0 960.0 980.0 1,000.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 92.0 94.0 96.0 98.0 100.0 102.0 104.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev.
    • TRANSPORTATION & UTILITIES FINANCIAL ACTIVITIES PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN SERVICES EDUCATION & HEALTH SERVICES LEISURE & HOSPITALITY OTHER SERVICES GOVERNMENT Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. 6 QUARTERLY ECONOMIC UPDATE | Q1 2014 CURRENT EMPLOYMENT STATISTICS REVISIONS (continued) 40.0 42.0 44.0 46.0 48.0 50.0 52.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 68.0 69.0 70.0 71.0 72.0 73.0 74.0 75.0 76.0 77.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 142.0 147.0 152.0 157.0 162.0 167.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 14.0 14.5 15.0 15.5 16.0 16.5 17.0 17.5 18.0 18.5 19.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 105.0 110.0 115.0 120.0 125.0 130.0 135.0 140.0 145.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 84.0 86.0 88.0 90.0 92.0 94.0 96.0 98.0 100.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 35.0 35.5 36.0 36.5 37.0 37.5 38.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 148.0 150.0 152.0 154.0 156.0 158.0 160.0 162.0 164.0 166.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev.
    • INDUSTRIAL REAL ESTATE VACANCY RATES PORT COLUMBUS INTL. AIRPORT PASSENGERS Source: CB Richard Ellis. Source: Columbus Regional Airport Authority. OFFICE VACANCY RATES RICKENBACKER INTL. AIRPORT CARGO HANDLED Source: CB Richard Ellis. Source: Columbus Regional Airport Authority. 7 AIRPORT PASSENGERS & CARGOCOMMERCIAL REAL ESTATE QUARTERLY ECONOMIC UPDATE | Q1 2014 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Percent Columbus U.S. 1,250 1,300 1,350 1,400 1,450 1,500 1,550 1,600 1,650 1,700 1,750 Q1 Q2 Q3 Q4 ThousandsofPassengers 2010 2011 2012 2013 2014 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 Q1 Q2 Q3 Q4 ThousandsofPounds 2010 2011 2012 2013 2014 10.0 12.0 14.0 16.0 18.0 20.0 22.0 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Percent Columbus U.S.
    • Source: U.S. Census Bureau. Source: Columbus Board of Realtors. CHANGE IN RESIDENTIAL SALES FROM SAME QUARTER PREVIOUS YEAR Source: Columbus Board of Realtors, National Association of Realtors. 8 RESIDENTIAL SALES, COLUMBUS MLS AREA RESIDENTIAL BUILDING PERMITS, COLUMBUS MSA QUARTERLY ECONOMIC UPDATE | Q1 2014 HOUSING  Building permits down sharply from a year ago. Building permits issued in the Columbus MSA were down 31.5 percent from the same months of 2013, compared to a 6.6 percent U.S. increase. The decline was driven largely by a spike in units in the volatile multi-unit category this time last year. Units in multi- unit structures accounted for 46 percent of local permits, compared to 39 percent of national permits. For the year, permits were up 14 percent locally and 16 percent nationally.  Single-unit permits issued during the first quarter were down 2.1 percent from a year ago, compared to a 0.2 percent drop nationwide.  Home sales in Columbus during the first quarter off 7.0 percent from a year ago: Home sales in the Columbus Multiple Listing Service (MLS) area (larger than and somewhat different from the Region) totaled 4,577 during the first quarter, compared to 4,920 in 2013. Sales nationwide during the quarter were down 6.6 percent from last year, and were down 9.9 percent in the Midwest.  The dollar volume of home sales in the Columbus MLS area totaled $740 million during the first quarter, down 2.8 percent from the same quarter last year. 0 500 1,000 1,500 2,000 2,500 3,000 Q1 Q2 Q3 Q4 NumbnerofPermits 2010 2011 2012 2013 2014 0 1,600 3,200 4,800 6,400 8,000 9,600 Q1 Q2 Q3 Q4 NumbnerofSales 2010 2011 2012 2013 2014 -30% -20% -10% 0% 10% 20% 30% 40% 2008-Q1 2008-Q2 2008-Q3 2008-Q4 2009-Q1 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 PercentChange Columbus MLS U.S.
    • MSA HOUSE PRICE CHANGE, 1ST QUARTER 2007 TO 4TH QUARTER 2013 MSA HOUSE PRICE CHANGE, 2ND QUARTER 2011 TO 4TH QUARTER 2013 Source: Federal Housing Finance Agency House Price Index. 9 QUARTERLY ECONOMIC UPDATE | Q1 2014 HOUSING (continued) FHFA HOUSE PRICE INDEX, 1ST QUARTER 2007 - 4TH QUARTER 2013  House prices in Columbus higher year-over-year: Columbus MSA house prices in the third quarter were up 8.8 percent from a year earlier, compared to gains of 5.3 percent in Ohio and 7.6 percent at the national level. The local change ranked 33rd among the 64 million-plus regions in the U.S.  Columbus MSA house prices above pre-recession peak: As shown in the chart to the right, the Federal Housing Finance Agency (FHFA) index for Columbus showed a 0.9 percent net gain for from the pre- recession house price peak in the first quarter of 2007. Of the 64 major MSAs nationwide, 17 others have surpassed their previous peak. -8.7% 0.9% -40% -30% -20% -10% 0% 10% 20% 30% Jacksonville Chicago Detroit San Diego Minneapolis Milwaukee Cleveland St. Louis Kansas City United States Cincinnati Raleigh Columbus Nashville Indianapolis Charlotte Oklahoma City Pittsburgh Austin 12.2% 13.0% 0% 5% 10% 15% 20% 25% 30% 35% 40% Milwaukee Cincinnati Oklahoma City Cleveland Raleigh Pittsburgh St. Louis Chicago Columbus Indianapolis United States Kansas City Jacksonville Nashville Charlotte Minneapolis Austin San Diego Detroit 75 80 85 90 95 100 105 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Index:1stQtr.2007=100.0 Columbus MSA Ohio U.S
    • HISTORIC AND FORECAST U.S. GDP; HISTORIC PERSONAL CONSUMPTION Source: U.S. Bureau of Economic Analysis, Wall Street Journal Economic Forecasting Survey. CPI INFLATION, LARGE MIDWEST CITIES Source: Consumer Price Index (CPI-U), U.S. Bureau of Labor Statistics 10 QUARTERLY ECONOMIC UPDATE | Q1 2014 GDP AND INFLATION  U.S. GDP growth slows to a crawl in the first quarter. Gross domestic product (GDP) grew at a 0.1 percent annual pace in the first quarter, weaker than expected and its slowest pace in more than a year. Major reasons for the weakness were a drawdown in inventories and a decline in exports, which together subtracted 1.7 percentage points from growth. Personal consumption, however, was stable with growth of 3.0 percent.  Economists expect economic strength into early 2015: The April Wall Street Journal economic forecasting survey expected GDP growth to remain at around a three percent pace through the second quarter of 2015. Three-quarters of the economists polled continued to believe that their forecast is more likely to be too low than too high.  Consumer sentiment improving: The Thomson Reuters/University of Michigan Index of Consumer Sentiment increased in April to 84.2, its highest level since July. The index was 81.2 in January.  Overall inflation rose to 1.2 percent from 0.9 percent in the fourth quarter, driven by higher food prices. Core inflation, which excludes both food and energy, fell from 1.5 percent to 1.3 percent. -2% -1% 0% 1% 2% 3% 4% 5% 6% 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 2014-Q2 2014-Q3 2014-Q4 2015-Q1 2015-Q2 AnnualizedChange(Percent) GDP Personal Cons. Exp. 0% 1% 1% 2% 2% 3% 3% 4% 4% 2010-Q1 2010- Q2 2010- Q3 2010- Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 AnnualizedChange(Percent) All items Excl. food & energy (core)
    • PROJECTS ACTIVE AT END OF EACH MONTH 11 NUMBER OF PROJECTS STARTED (2013 v. 2014) FIRST-TIME VISITS (2013 v. 2014) QUARTERLY ECONOMIC UPDATE | Q1 2014 COLUMBUS 2020 PERFORMANCE | PROJECTS JAN-MAR 2014 PROJECTS ACTIVE AT END OF EACH MONTH BY SECTOR In the first quarter of 2014, Columbus 2020 added 64 new projects to the pipeline and hosted nine first-time visits from companies and/or their location consultants. Columbus 2020 had 154 active projects at the end of March 2014. Headquarters and business services represented 48 percent of projects at the end of March, followed by manufacturing with 36 percent. 67 70 51 98 105 103 0 20 40 60 80 100 120 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Existing New 0 20 40 60 80 100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Manufacturing HQ & Business Services Logistics Science & Technology 23 28 17 25 29 16 22 19 17 20 16 2020 24 20 0 10 20 30 40 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 0 4 8 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014
    • 2014 Q2 PLANNED ACTIVITIES 12 QUARTERLY ECONOMIC UPDATE | Q1 2014 2014 Q1 COMPLETED ACTIVITIES COLUMBUS 2020 PERFORMANCE | DEVELOPMENT ACTIVITIES JAN-MAR 2014 EXISTING BUSINESS VISITS CONDUCTED BY SECTOR EXISTING BUSINESS VISITS CONDUCTED BY PLACE In the first quarter of 2014, the Columbus 2020 team visited nine U.S. cities and Canada. Visits included business development missions, industry conferences, existing headquarter visits and consultant and active project calls. In the second quarter of 2014, the Columbus 2020 team will visit 12 U.S. cities, as well as international trips to China, Japan, Korea, Sweden and the UK. Larger share of retention visits to manufacturers The Columbus 2020 team and our local economic development partners conducted a combined total of 87 visits to businesses in the Region during the first quarter of 2014. In the first quarter of 2014, 47 manufacturing companies received the most visits, more than half the total count. This is a significantly higher share than previous years. 0 5 10 15 20 25 Columbus Dublin Delaware Westerville Worthington RestofFranklinCounty RestofDelawareCounty KnoxCounty RestofRegion Columbus 2020 Local ED Partner Both 44% 47% 56% 28% 23% 23% 12% 15% 11% 16% 15% 11% 2012 2013 Q1 2014 Manufacturing HQ & Business Services Logistics Science & Technology
    • 13 ED PROJECT ANNOUNCEMENTS, COUNT BY MUNICIPALITY ED PROJECT ANNOUNCEMENTS, COUNT BY PLACE ED PROJECT ANNOUNCEMENTS - JOB CREATION QUARTERLY ECONOMIC UPDATE | Q1 2014 ED PROJECT ANNOUNCEMENTS BY SECTOR NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014 Columbus 2020 tracks economic development project announcements in the Columbus Region. In the first quarter of 2014, there were 23 project announcements yielding 2,363 jobs created or retained. Manufacturing and logistics projects represented 43 and 26 percent of projects, respectively, in the first quarter. These figures are higher than previous years, reducing the share of office and technology projects. International projects comprise 17 percent of announcements in 2014 537 1,113 713 0 300 600 900 1,200 1,500 Attract Expand Retain 5 3 3 3 9 0 3 6 9 12 Columbus Groveport Marysville Rest of Franklin Rest of Region 33% 38% 43% 35% 32% 22% 20% 19% 26% 12% 11% 9% 2012 2013 Q1 2014 Manufacturing HQ & Business Services Logistics Science & Technology
    • COMPANY DESCRIPTION CITY CTY. NO. JOBS Bradley Corporation Partitions, lockers Marion Marion Daifuku America Corporation Material handling and automation solutions Reynoldsburg Franklin Divelbiss Corporation Programmable logic controllers Fredericktown Knox Exel, Inc Supply chain management services Westerville Delaware Famous Enterprises Building products Columbus Franklin Gandee & Associates Engineering services Westerville Franklin Gwynnie Bee Fulfillment center of high fashion, plus-size apparel Groveport Franklin Handgards Food service and handling products Groveport Franklin Heritage Cooperative Member-owned agriculture cooperative Marysville Union Honda of America Mfg., Inc. Technical training center and leadership office Marysville Union The Kroger Co. Bakery Columbus Franklin L Brands Inc. Personal care and beauty products, accessories New Albany Licking Liberty Casting Castings of steel, aluminum, iron Delaware Delaware NBBJ Architecture and urban design firm Columbus Franklin Ohio Metal Technologies Components for transportation industry Hebron Licking Owens Corning Manufacturer of thermal and acoustical insulation Newark Licking PeopleToMySite.com LLC (The Shipyard) Information services and software Columbus Franklin Petsmart Pet supplies Groveport Franklin Scientific Expert Analysis Provider of scientific research, testimony, other services Columbus Franklin Sumitomo Electric Wiring Systems, Inc. Wiring harness, terminals and connectors Marysville Union West Ohio Tool Co. Drill bits Russells Point Logan Wyandot Inc. Snack foods Marion Marion Zulily Inc. E-commerce fulfillment center Obetz Franklin 14 Expansion Retention/Expansion Expansion 11 Retention 28 50 100 624 Expansion 20 Expansion QUARTERLY ECONOMIC UPDATE | Q1 2014 NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014 TYPE 80 Expansion 80 Expansion 3 Attraction Expansion 25 9 Expansion 52 Expansion 16 Expansion 66 Attraction 401 Expansion Expansion Attraction Attraction Expansion 0 30 0 100 500 Expansion 20 10 Expansion Expansion 138 Retention/Expansion