Monthly Economic Update | May 2013


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Monthly Economic Update | May 2013

  1. 1. 614-225-6063
  2. 2. MAY 2013 PERFORMANCECASE STUDY: G-TEKT CORPORATIONJobs: 100 createdCapital investment: $28.6 millionFacilities: Manufacturing, R&D1PROJECTS MAY 2013 AND YEAR-TO-DATENUMBER OF PROJECTS (2013 v. 2012) FIRST-TIME VISITS (2013 v. 2012)COLUMBUS 2020 MONTHLY UPDATE | MAY 2013MAY 201322 projects started- 108 year to date7 first time visits 251127 2420441630202328719251923 2201020304050Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2012 2013116 6 69436 61042254 4703691215Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2012 2013G-Tekt North American Corporation - a manufacturer andvendor of auto body frame components, heavy gaugeprecision stamped parts, and dies and welding equipment- will invest $28.6 million in the Columbus Region.G-Tekt will build a 173,000-square foot facility in MadisonCountys West Jefferson to manufacture a hot stampingproduct new to the U.S. market. In addition, an R&Dfacility will be built in Jerome Township in Union County.Working collaboratively with G-Tekts six other NorthAmerican locations, this facility is expected to generate77 new jobs.G-Tekt said it chose the Columbus Region because of itscompetitive workforce, central location and proximity toclimate.
  3. 3. 2ACTIVE PROJECTS AS OF MAY 31, 2013TOTAL ACTIVE PROJECTS(141 PROJECTS)EXPANSION PROJECTS:PROJECTS BY SOURCEEXPANSION PROJECTS:PROJECTS BY SECTORCOLUMBUS 2020 MONTHLY UPDATE | MAY 2013ATTRACTION PROJECTS:PROJECTS BY SOURCEATTRACTION PROJECTS:DOMESTIC/INTERNATIONALATTRACTION PROJECTS:SUSPECTS AND PROSPECTSATTRACTION PROJECTS:PROJECTS BY SECTOR701601020304050607080Suspect ProspectSuspects = Projects identified andqualified via direct dialogue with thecompany or consultant representing thecompany.Prospects = Projects qualified,parameters defined and the company orconsultant has visited the Region.61%39%New Existing86%6%8%Columbus 2020Local ED partnersJobsOhio73%18%9%Columbus 2020Local ED partnersJobsOhio285166051015202530353718229051015202530354063%37%Domestic International
  4. 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIESMAY 2013 COMPLETED ACTIVITIESJUNE 2013 PLANNED ACTIVITIESMinneapolisMAEDCNew YorkIntelligent Community ForumPittsburghRapid 2013 - additive manufacturing conferenceBUSINESS DEVELOPMENT MISSIONS:Atlanta3COLUMBUS 2020 MONTHLY UPDATE | MAY 2013St. Louis: The 2020 team conducted visits with the headquarters ofa company that has a significant presence in the Columbus Regionand with one of the nations largest industrial development firms.Sioux Falls: The 2020 team attended the Mid-America EconomicDevelopment Councils Best Practices Conference.Charlotte, Columbia, Greenville: The 2020 team met with locationadvisors working on active projects. The trip also includedintroductory meetings with several high-growth companies.Washington, D.C.: The 2020 team met with site selection consultingleads within several global corporate real estate and accountingfirms.Dallas: The 2020 team met with location advisors and theheadquarters of a company that has a significant presence in theColumbus Region with an impending project.UK/France, Japan: In Europe, the 2020 team met withcompanies considering investment in the U.S. In Japan, theteam conducted a series of company visits and participated inSelectUSA seminars in Tokyo, Nagoya and Osaka.Cincinnati and Pittsburgh: The 2020 team conducted visits withventure capital firms and business incubators., D.C.
  5. 5. MAY 2013 Performance:42 Visits in May (172 YTD)Visits conducted by:CASE STUDY: PROFORM INDUSTRIESJobs: 120 createdCapital investment: $1.2 millionFacility: Manufacturing4BUSINESS RETENTION & EXPANSION | MAY 2013BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTORCOLUMBUS 2020 MONTHLY UPDATE | MAY 2013Proform Industries, an Oklahoma-based producer of fueltanks, battery boxes and other container assemblies fortrucks, will add 120 jobs to its Columbus Region facility. Thiswill triple the current headcount of 58 at the facility onGeorgesville Road. The company will invest $1.2 million toexpand its production facility.Columbus Region has been important to our success andgrowth since we built our first facility there 12 years ago. Weare excited to continue to grow and be a part of thatdemand is a key driver for this expansion.38%41%21% Columbus2020 onlyLocal EDpartner onlyBoth 2020and LEDO15632 2 212024681012141681019502468101214161820
  6. 6. Source: U.S. Patent and Trademark OfficeCASE STUDY: DRIVE CAPITAL5COLUMBUS 2020 MONTHLY UPDATE | MAY 2013BUSINESS CREATIONBUSINESS DISSOLUTIONS,SURRENDERS, WITHDRAWALSPATENTS BY REGION INVENTORS &ASSIGNEESNEW BUSINESS REGISTRATION*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 toreserve 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.New venture capital firm Drive Capital, launched by SequoiaCapital alums Mark Kvamme and Chris Olsen, is reaching out tolimited partners to raise a $300 million fund. Based in Columbus,the firm will look for deals in the Midwest which, according toKvamme, is often underappreciated by firms on the East andWest Coasts. Drive Capitals new fund would be one of the largerfunds in the Midwest, where the average size is $54.5 million.1,3261,1271,3631,319500750100012501500Jan Feb Mar Apr313199 186238050100150200250300350400Jan Feb Mar Apr9033982291188524Inventor AssigneeJan Feb Mar Apr
  7. 7. 6TRANSPORTATION & INFRASTRUCTUREECONOMIC DEVELOPMENT NEWSCOLUMBUS IN THE NEWS POLICY & ADVOCACYCOLUMBUS 2020 MONTHLY UPDATE | MAY 2013Columbus ranked no. 13 for job ranks Columbus no. 13 among 66 largemetro areas based on an index of both recent and longerterm job growth. rank Ohio business climate most improved in U.S.Ohios business climate was the most improved in the nationin 2012, according to a survey of CEOs around the countryby Chief Executive magazine. a top 10 state for site selection competitivenessSite Selection magazine ranks Ohio no. 6 based on an indexof announced projects, jobs, capital investment, executivesurveys and workforce data. all of the latest news, visit: Tax Credit BillOn May 28, the Columbus Chamber providedtestimony to the Ohio House of RepresentativesEconomic Development and Regulatory ReformCommittee on the recently introduced House Bill135. This bill seeks to create a tax credit for therecovery of unused industrial sites, spurringrenewed manufacturing or other commercialactivity.Counties and municipalities will have the ability toapply to the Development Services Agency fordesignation of a vacant facility as an "industrialI-270/Route 33 TIGER grant applicationThe Columbus Chamber team provided staffresources to the City of Dublin and Union County ona TIGER V grant application to receive federalfunding for the Interstate 270 and U.S. Route 33interchange. The Chamber secured letters ofsupport from public and private partners for theapplication and analyzed data on the economicimpacts of the project. The I-270/Route 33interchange is vital to the efficiency and health ofthe Columbus Regions transportation network andcontinued economic growth.
  8. 8. Source: Xceligent Source: Columbus Board of Realtors7NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS(WEEK ENDING 3/2/13 TO WEEK ENDING 5/25/13)COLUMBUS 2020 MONTHLY UPDATE | MAY 2013REGIONAL ECONOMIC DATANUMBER EMPLOYED AND UNEMPLOYMENT RATE (April 2013)Source: Ohio Department of Job and Family ServicesDirectAsking Rent(per sf)VacancyRateUseOffice 16.7%COMMERCIAL REAL ESTATE(AS OF MAY 31)HOUSING SALES$15.43$2.90$9.28IndustrialRetail7.7%10.0%Source: U.S. Bureau of Labor Statistics, Local Area UnemploymentStatistics, Seasonally Adjusted7.4% (-0.2)Marion27,056 (-680)6.8% (-0.7)Knox27,626 (+25)Unemploymentrate(Apr 2013)Numberemployedresidents(Apr 2013)Change fromApr 2012 toApr 20134.7% (-0.2)Delaware89,373 (+273)6.1% (-0.1)Fairfield70,236 (+220)6.1% (-0.4)Franklin590,229 (+1,862)6.4% (-0.2)Licking79,479 (+247)6.8% (-0.2)Madison18,833 (+60)7.3% (-0.2)Morrow16,151 (+47)7.2% (-0.4)Pickaway22,673 (+71)5.6% (+0.3)Union25,482 (+78)6.6% (-0.2)Logan21,441 (-46)05001,0001,5002,0002,5003,0008,0009,00010,00011,00012,00013,00014,00015,00016,00017,0003/23/93/163/233/304/64/134/204/275/45/115/185/25Continuing New3,6403,0681,834$166K3,965 3,8202,390$163KNewListingsInContractsClosedSalesAverageSales PriceApr 2012 Apr 2013