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Quarterly Economic Update | Q4 2013
 

Quarterly Economic Update | Q4 2013

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The Columbus MSA added 12,300 jobs in 2013 and continues to rank very well against comparable U.S. metros, according to Columbus 2020, the economic development organization in the Columbus Region. The ...

The Columbus MSA added 12,300 jobs in 2013 and continues to rank very well against comparable U.S. metros, according to Columbus 2020, the economic development organization in the Columbus Region. The final quarterly economic update for the 2013 calendar year covers regional economic data and development activities in the fourth quarter and throughout the year.

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    Quarterly Economic Update | Q4 2013 Quarterly Economic Update | Q4 2013 Presentation Transcript

    • QUARTERLY ECONOMIC UPDATE 2013 Q4 Q4 columbusregion.com 614-225-6063 With economic analysis from Regionomics™ LLC
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 FOREWORD TABLE OF CONTENTS By Mekael Teshome Assistant Vice President and Economist, The PNC Financial Services Group Employment, labor force and unemployment . . . 2 At 5.8 percent in December 2013, the Columbus Region unemployment rate Employment by industry . . . . . . . . . . . . . . . . . . . . . 3 remains well below state and U.S. averages while labor force growth has Per capita personal income . . . . . . . . . . . . . . . . . . . 5 been healthy—a sign of confidence in the local economy and a feature not Commercial real estate . . . . . . . . . . . . . . . . . . . . . . . .7 seen in U.S. or Midwest economies. Although job growth will likely be slower in 2014 versus 2013, the Region has already surpassed its pre-Great Recession employment peak—more than two years ahead of when the nation is expected to do the same. Employment Airport passengers and cargo . . . . . . . . . . . . . . . . . 7 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 GDP and inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 growth in the near term is likely to be driven by finance, professional services, Columbus 2020 performance . . . . . . . . . . . . . . . . . 11 education and healthcare. Notable expansions and locations . . . . . . . . . . . . . 13 Despite fiscal challenges, the private sector economy is healthy, relative to its Midwestern neighbors. The unemployment rate is expected to decline only slowly over the next few quarters due to labor force growth partially The Columbus 2020 economic update for the fourth quarter of 2013 covers regional economic data and offsetting job creation. Finally, the housing market will be a bright spot in the economic development activities year to date, with a near-term outlook. Home prices are expected to increase by around 4 focus on October to December. The analysis of the percent in 2014, thanks to high affordability, strong population growth, and better balance between the supply of and the demand for housing. regional economy (pages 2 to 10) was prepared by Bill LaFayette, Ph.D., RegionomicsTM LLC. Longer term, a diverse industrial base, healthy population growth, a young and educated workforce and low living and business costs will underpin the market area's economic potential. Regional transportation and processing offer Columbus opportunities to exceed expectations. 1
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 EMPLOYMENT, LABOR FORCE, UNEMPLOYMENT RATES  Columbus MSA employment gives back some gains TOTAL PAYROLL EMPLOYMENT COLUMBUS REGION UNEMPLOYMENT RATE in the fourth quarter: Columbus MSA employment 104 employment fell less than 0.1 percent and U.S. 102 6% 96 4% 94 92 90 2% 9/13 1/13 5/13 9/12 1/12 5/12 9/11 1/11 5/11 9/10 1/10 5/10 9/09 rate fell from 6.6 percent in September to 5.8 in 0% 1/09 -adjusted unemployment 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 Regional unemployment rate declines: The 11-county 5/09 the U.S.  8% 98 9/08 for the MSA, 0.7 percent for Ohio, and 1.7 percent for 100 1/08 growth over the past 12 months was 12,300 (1.3 percent) 12% 10% 5/08 employment increased 0.4 percent. Employment Index: 1/08 = 100.0 declined 4,800 (0.5 percent) to 963,000. Ohio December. The December rate was lower than both the Columbus MSA 7.2 percent Ohio unemployment rate and the 6.7 percent U.S. rate.  The decline in the Columbus Region unemployment rate Ohio U.S. Columbus Region Ohio U.S. 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. was driven both by a decline of 4,400 in the labor force and an increase of 4,200 in the number of employed residents. Gap between normal and actual labor force growth COLUMBUS REGION LABOR FORCE increases: The difference between reported labor force 1,150 and the level assuming normal growth increased from 1,100 46,000 in September to 53,000 in December. Thousands 1,050 1,000 950 900 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  Labor force Labor force, normal growth Resident employment Source: Local Area Unemployment Statistics, Bureau of Labor Statistics. Seasonal adjustment of regional rate by Regionomics LLC. 2
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 EMPLOYMENT BY INDUSTRY Logistics 8.7% Manufacturing 7.0% Leisure & hospitality 10.1% Computer design & related svcs 1.9% Finance & insurance Healthcare & 6.2% social assistance 12.3% 105 100 100 95 90 85 95 90 85 80 75 80 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 Government 16.7% Professional & business svcs 14.8% 110 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 Retail trade 9.8% MANUFACTURING 105 Index: 1/08 = 100.0 Other 12.5% LOGISTICS: TRANSPORTATION, WAREHOUSING & WHOLESALE Index: 1/08 = 100.0 MSA SHARE OF EMPLOYMENT BY INDUSTRY, DECEMBER 2013 Columbus MSA Ohio Columbus MSA U.S. Ohio U.S. *Excluding computer design and related services. PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN & RELATED SERVICES 140 Index: 1/08 = 100.0 105 100 95 90 110 130 Index: 1/08 = 100.0 110 120 110 100 105 100 95 90 85 80 80 80 Columbus MSA Ohio U.S. 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 90 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 85 Columbus MSA Ohio U.S. 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 Index: 1/08 = 100.0 FINANCE & INSURANCE Columbus MSA Ohio U.S. Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Seasonal adjustment of MSA employment by Regionomics LLC. 3
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 EMPLOYMENT BY INDUSTRY (continued)  HEALTHCARE & SOCIAL ASSISTANCE Charts on pages 2 and 3 show that greater-than- LEISURE & HOSPITALITY average quarterly employment gains in logistics and 130 125 95  90 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 the 1.2 percent U.S. increases. 95 9/13 December, a stronger gain than the 1.6 percent Ohio and 100 1/13 5/13 Logistics increased 1,700 (2.0 percent) from last 100 9/12  105 105 9/11 1/12 5/12 and a U.S. gain of 2.5 percent. 115 110 9/10 1/11 5/11 to December 2013, versus an Ohio gain of 1.2 percent 9/09 1/10 5/10 Retail suffered a decline of 3,700 from December 2012 110 1/08 5/08  120 9/08 1/09 5/09 healthcare, government and retail. 115 Index: 1/08 = 100.0 manufacturing, business services, finance and insurance, Index: 1/08 = 100.0 leisure were more than offset by declines in Government jobs increased 1,000 over the year (0.6 percent) driven by an increase in state government. Columbus MSA Ohio U.S. Columbus MSA Ohio U.S. Ohio government employment declined 1.0 percent and U.S. employment in the sector declined 0.3 percent. GOVERNMENT RETAIL TRADE 110 % % % Logistics +1,500 +1.9 +0.4 +0.5 Manufacturing -1,200 -1.8 +0.5 +0.5 Professional & business services -2,500 -1.5 +0.4 +0.6 0 0.0 -0.9 +0.8 Finance & insurance -800 -1.4 -1.7 +0.1 Healthcare & social assistance -300 -1.4 +0.2 +0.3 +1,200 +1.2 Computer design & related svcs. Leisure & hospitality Government Retail trade -900 -0.5 -2,000 -2.0 110 US 105 Index: 1/08 = 100.0 No. OH 100 95 90 85 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 MSA empl. chg. Index: 1/08 = 100.0 Industry 105 100 95 90 85 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 Q4 EMPLOYMENT CHANGE BY INDUSTRY -1.2 +0.5 -0.8 -0.1 Columbus MSA Ohio U.S. Columbus MSA Ohio U.S. +0.9 +0.9 4
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 COLUMBUS REGION PER CAPITA PERSONAL INCOME DELAWARE COUNTY The charts on pages 4 and 5 show Per-Capita Personal FAIRFIELD COUNTY 44,000 component counties. 60,000 40,000 FRANKLIN COUNTY 2010 2008 2009 U.S. KNOX COUNTY 46,000 46,000 45,000 45,000 44,000 44,000 44,000 40,000 39,000 38,000 36,000 34,000 Ohio U.S. Franklin U.S. Knox Ohio 2010 2008 2009 2007 2011 2012 2010 2009 2007 Ohio 2008 2005 2006 2003 2004 28,000 2001 2011 2012 2010 2008 2009 2007 2005 2006 2004 2002 2003 2001 Region 30,000 36,000 37,000 36,000 32,000 37,000 38,000 2002 38,000 2006 39,000 41,000 2005 40,000 42,000 2004 41,000 40,000 2003 42,000 42,000 43,000 2001 43,000 Constant dollars Constant dollars 46,000 Constant dollars Ohio 2012 Fairfield 2012 U.S. 2007 2001 2011 2012 2010 2009 2007 2008 Ohio 2011 COLUMBUS REGION Delaware 2011 regional average in Licking, Madison and Union counties. 2005 percent since 2009. Growth has also been above the 2006 2001 32,000 2003 30,000 at $64,115, and the Region's best recent growth, at 13.8 34,000 2004 35,000 Delaware County enjoys the highest PCPI in Ohio by far, 2002  36,000 2005 5.4 percent.) 38,000 2006 U.S. average. (Ohio's growth was above average as well, at 45,000 40,000 2003 recovery in PCPI since 2009 far exceeded the 3.8 percent 50,000 42,000 2004 the $43,735 U.S. average. However, the 5.9 percent 55,000 2002 Regional PCPI in 2012 was $42,500, 2.8 percent less than Constant dollars residents of the Columbus Region and each of its  46,000 65,000 Constant dollars Income (PCPI -- adjusted for inflation) since 2001 for 70,000 2002  U.S. Source: Bureau of Economic Analysis; inflation adjustment by the Consumer Price Index, Bureau of Labor Statistics. 5
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 COLUMBUS REGION PER CAPITA PERSONAL INCOME (continued) LICKING COUNTY LOGAN COUNTY MADISON COUNTY MARION COUNTY 44,000 44,000 44,000 42,000 42,000 42,000 40,000 38,000 40,000 38,000 36,000 Constant dollars 46,000 Constant dollars 46,000 Constant dollars 46,000 44,000 40,000 38,000 36,000 42,000 40,000 38,000 36,000 34,000 Licking U.S. Logan U.S. 46,000 Ohio 2011 2012 2010 2009 2007 2008 2005 Marion U.S. 2006 2003 2004 2001 2011 2012 2010 2009 2007 2008 2005 2006 2003 Madison U.S. Ohio UNION COUNTY 46,000 44,000 46,000 44,000 40,000 38,000 36,000 34,000 32,000 Constant dollars 42,000 Constant dollars 42,000 2004 2001 Ohio PICKAWAY COUNTY 44,000 2002 2011 2012 2010 2009 2007 2008 2005 2006 2003 2004 2001 Ohio MORROW COUNTY 40,000 38,000 36,000 34,000 32,000 42,000 40,000 38,000 36,000 Ohio Ohio 2012 2011 2010 2009 2007 2008 2005 Union U.S. 2006 2004 2002 2003 2011 2012 2010 2009 2007 2008 2005 Pickaway U.S. 2006 2003 2004 2001 2002 2012 2011 2010 2009 2007 2008 2005 Morrow U.S. 2006 2003 32,000 2004 28,000 2001 30,000 28,000 2002 30,000 34,000 2001 Constant dollars 2002 2011 2012 2010 2009 2007 2008 30,000 2005 32,000 2006 32,000 2003 32,000 34,000 2004 34,000 2001 34,000 2002 36,000 2002 Constant dollars 46,000 Ohio Source: Bureau of Economic Analysis; inflation adjustment by the Consumer Price Index, Bureau of Labor Statistics. 6
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 COMMERCIAL REAL ESTATE AIRPORT PASSENGERS & CARGO INDUSTRIAL REAL ESTATE VACANCY RATES PORT COLUMBUS INTL. AIRPORT PASSENGERS 1,800 1,600 Thousands of Passengers 22.0 20.0 Percent 18.0 16.0 14.0 12.0 10.0 2007-Q1 2007-Q2 2007-Q3 2007-Q4 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 8.0 Columbus 1,400 1,200 1,000 800 600 400 200 0 Q1 2009 Q2 2010 2011 Q3 2012 Q4 2013 U.S. Source: CB Richard Ellis. Source: Columbus Regional Airport Authority. OFFICE VACANCY RATES RICKENBACKER INTL. AIRPORT CARGO HANDLED 22.0 50,000 45,000 Thousands of Pounds Percent 20.0 18.0 16.0 14.0 12.0 2007-Q1 2007-Q2 2007-Q3 2007-Q4 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 10.0 Columbus Source: CB Richard Ellis. U.S. 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Q1 2009 Q2 2010 Q3 2011 2012 Q4 2013 Source: Columbus Regional Airport Authority. 7
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 HOUSING  Building permits higher in the fourth quarter. Building permits issued in the Columbus MSA were up RESIDENTIAL BUILDING PERMITS, COLUMBUS MSA RESIDENTIAL SALES, COLUMBUS MLS AREA 9,600 a 14.8 percent U.S. increase. Units in multi-unit 2,500 8,000 structures accounted for 63.1 percent of local permits, but only 42.2 percent of national permits. For the year, permits were up 33.9 percent locally and 20.1 percent nationally.  Single-unit permits issued during the fourth quarter were down 2.8 percent from a year ago, but were up 2,000 1,500 1,000 500 9.5 percent nationally.  Numbner of Sales 3,000 Numbner of Permits 6.9 percent from the same months of 2012, compared to 6,400 4,800 3,200 1,600 0 0 Q1 Home sales in Columbus during the fourth quarter Q2 2009 off 3.6 percent: Home sales in the Columbus Multiple 2010 Q3 2011 Q4 2012 Q1 Q2 2009 2013 2010 Q3 2011 2012 Q4 2013 Listing Service (MLS) area (larger than and somewhat different from the Region) totaled 5,579 during the Source: U.S. Census Bureau. Source: Columbus Board of Realtors. fourth quarter, compared to 5,789 in 2012. Sales nationwide during the quarter were 1.1 percent higher than last year, and were 2.7 percent higher in the Midwest. The 26,037 sales during 2013 represented an CHANGE IN RESIDENTIAL SALES FROM SAME QUARTER PREVIOUS YEAR increase of 16.4 percent from 2012. 40% The dollar volume of home sales in the Columbus MLS 30% area totaled $961 million during the fourth quarter, up 10% 0% Columbus MLS -10% U.S. -20% 2013-Q4 2013-Q3 2013-Q1 2013-Q2 2012-Q4 2012-Q2 2012-Q3 2012-Q1 2011-Q4 2011-Q3 2011-Q1 2011-Q2 2010-Q3 2010-Q4 2010-Q1 2010-Q2 2009-Q4 2009-Q2 2009-Q3 2009-Q1 2008-Q4 2008-Q2 -30% 2008-Q3 year, $4.549 billion worth of housing changed hands. 20% 2008-Q1 2.5 percent from the same quarter last year. During the Percent Change  Source: Columbus Board of Realtors, National Association of Realtors. 8
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 HOUSING (continued)  House prices in Columbus higher year-over-year: Columbus MSA house prices in the third quarter were up 5.4 percent from a year earlier, compared to gains of 4.3 percent in Ohio and 8.4 percent at the national level. The local change ranked 49th among the 64 million-plus regions in the U.S.  Columbus MSA house prices erase declines: The FHFA index 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, 17 others have surpassed their previous peak. MSA HOUSE PRICE CHANGE, 1ST QUARTER 2007 TO 3RD QUARTER 2013 Austin Pittsburgh Oklahoma City Indianapolis Nashville-Davidson Columbus Raleigh Charlotte Cincinnati Kansas City United States St. Louis Cleveland Milwaukee Minneapolis San Diego Detroit Chicago Jacksonville 0.9% -11.6% -40% FHFA HOUSE PRICE INDEX, 1ST QUARTER 2007 3RD QUARTER 2013 100 95 90 85 80 Columbus MSA Ohio Source: Federal Housing Finance Agency House Price Index. U.S 2013-Q1 2012-Q3 2012-Q1 2011-Q1 2011-Q3 2010-Q1 2010-Q3 2009-Q1 2009-Q3 2008-Q1 2008-Q3 2007-Q1 75 2007-Q3 Index: 1st Qtr. 2007 = 100.0 105 -30% -20% -10% 0% 10% 20% 30% MSA HOUSE PRICE CHANGE, 2ND QUARTER 2011 TO 3RD QUARTER 2013 Detroit San Diego Austin Charlotte Minneapolis Nashville-Davidson Columbus United States Kansas City Indianapolis Jacksonville Oklahoma City Pittsburgh St. Louis Chicago Cincinnati Raleigh Cleveland Milwaukee 12.0% 11.1% 0% 5% 10% 15% 20% 25% 30% 35% 9
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 GDP AND INFLATION  Growth in U.S. GDP slower in the fourth quarter but HISTORIC AND FORECAST U.S. GDP; HISTORIC PERSONAL CONSUMPTION better balanced. of Consumer Sentiment slipped slightly to 81.2 in 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 The Thomson Reuters/University of Michigan Index 2012-Q2 government spending.  2012-Q3 -2% 2010-Q1 that in the third quarter if not for a dropoff in 2012-Q1 exports in three years. Growth would have matched Personal Cons. Exp. 0% -1% 2011-Q4 saw the strongest growth in consumption and GDP 1% 2011-Q3 elsewhere was muted. In contrast, the fourth quarter 2% 2011-Q2 due to inventory accumulation while growth 3% 2011-Q1 percent, but a substanial share of that growth was 2010-Q4 growth was down from the third quarter's 4.1 5% 4% 2010-Q3 percent annual pace in the fourth quarter. This 6% 2010-Q2 U.S. Gross Domestic Product (GDP) grew at a 3.2 Annualized Change (Percent)  Source: U.S. Bureau of Economic Analysis, Wall Street Journal Economic Forecasting Survey. January after a strong showing in November and December.  U.S. GDP growth to improve through 2014: The January Wall Street Journal economic forecasting survey expected a slight drop in GDP growth in the first quarter, CPI INFLATION, LARGE MIDWEST CITIES but then an increase to 3.0 percent by year-end. In an 2% All items 2% Excl. food & energy (core) 1% 1% 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 0% 2011-Q2 energy) fell from 1.8 percent to 1.5 percent. 3% 2011-Q1 fourth quarter. Core inflation (excluding food and 3% 2010-Q4 Overall inflation fell to 0.9 percent from 1.4 percent in the 2010-Q3  4% 2010-Q2 than too high. 4% 2010-Q1 believed that their forecast was more likely to be too low Annualized Change (Percent) encouraging note, 74 percent of the economists polled Source: Consumer Price Index (CPI-U), U.S. Bureau of Labor Statistics 10
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 COLUMBUS 2020 PERFORMANCE | PROJECTS JAN-DEC 2013 In 2013, Columbus 2020 added 215 new projects to the NUMBER OF PROJECTS STARTED (2012 v. 2013) FIRST-TIME VISITS (2012 v. 2013) pipeline and hosted 58 first-time visits from companies 50 40 25 25 20 20 27 27 24 21 20 18 12 11 18 17 16 20 13 9 23 15 17 12 7 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 120 2013 100 85 82 68 70 58 54 57 64 89 57 85 81 86 69 68 64 55 49 52 80 78 77 75 60 62 57 67 60 59 56 40 50 54 60 40 20 20 Dec Oct Nov Sep Jul Aug Jun May Mar Apr Feb Dec Oct Nov Sep Jul Aug Jun May Mar Apr Feb Dec Jan 2013 Oct Nov Sep Dec 0 0 Aug services with 33 percent. 60 3 2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2013 of December, followed by headquarters and business 44 96 80 82 80 3 PROJECTS ACTIVE AT END OF EACH MONTH BY SECTOR 103 90 Jul 2012 Manufacturing represented 39 percent of projects at the end 7 6 6 5 4 0 Oct 100 4 2012 December 2013. Since September 2013, the numbers are how a project is classified as active. 4 5 4 2 2013 PROJECTS ACTIVE AT END OF EACH MONTH affected by the application of more stringent standards on 6 8 7 6 Nov Columbus 2020 had 116 active projects at the end of 6 6 5 3 0 2012 10 9 28 Sep 30 11 12 30 Aug December showed a spike in activity. 15 44 generally fewer new projects started than last year, Jul 2012 and/or their location consultants. Although there were Manufacturing Existing New HQ & Business Services Logistics Science & Technology 11
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 COLUMBUS 2020 PERFORMANCE | DEVELOPMENT ACTIVITIES JAN-DEC 2013 In the fourth quarter of 2013, the Columbus 2020 team 2013 Q4 COMPLETED ACTIVITIES 2014 Q1 PLANNED ACTIVITIES EXISTING BUSINESS VISITS CONDUCTED BY SECTOR EXISTING BUSINESS VISITS CONDUCTED BY PLACE traveled across the U.S. and the globe, visiting 12 U.S. cities and the UK, Germany, Canada and Mexico. Visits included business development missions, industry conferences, existing headquarter visits and consultant and active project calls. In the first quarter of 2014, the Columbus 2020 team will visit 11 U.S. cities, as well as international trips to the UK and Canada. Larger share of retention visits to manufacturers The Columbus 2020 team and our local economic development partners conducted a combined total of 381 120 2011 45% 15% 17% 24% visits to businesses in the Region during 2013. 100 80 60 2012 44% 28% 12% 16% 20 Logistics Science & Technology Columbus 2020 Local ED Partner Rest of Region HQ & Business Services Knox County Manufacturing Rest of Delaware County compostition of visits in 2013 was similar to 2012. 0 Rest of Franklin County 15% Gahanna 15% Worthington 23% Westerville 47% Delaware 2013 Dublin headquarters and business services companies had the most visits, with 21 and 20, respectively. Overall, the industrial 40 Columbus In the fourth quarter of 2013, manufacturing and Both 12
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 NOTABLE EXPANSIONS & LOCATIONS | JAN-DEC 2013 ED PROJECT ANNOUNCEMENTS BY SECTOR Columbus 2020 tracks economic development project announcements ED PROJECT ANNOUNCEMENTS - JOB CREATION in the Columbus Region. In 2013, there were 89 project announcements yielding 8,931 jobs created or retained. Manufacturing projects represented 38 percent of projects announced 6,000 2011 44% 25% 12% 19% in 2013, a share 5 percentage points higher than in 2012. 5,366 5,000 4,000 2012 International projects comprise 20 percent of announcements in 2013, 33% 35% 20% 12% 19% 11% similar to 2012. 2013 38% 32% 2,571 3,000 2,000 994 1,000 Manufacturing Logistics 0 HQ & Business Services Science & Technology ED PROJECT ANNOUNCEMENTS, COUNT BY MUNICIPALITY Attract Expand Retain ED PROJECT ANNOUNCEMENTS, COUNT BY PLACE 35 30 30 25 21 20 15 15 15 10 7 5 0 Columbus Dublin Westerville Rest of Franklin Rest of Region 13
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 NOTABLE EXPANSIONS & LOCATIONS | JAN-DEC 2013 (BOLD = Projects announced in Q4 2013) COMPANY DESCRIPTION CITY CTY. NO. JOBS TYPE Acceptd, Inc. Web-based video application database for arts college programs Columbus Franklin 19 Expansion Ace Hardware Corporation Hardware retailer West Jefferson Madison 100 Attraction AcuSport Corporation Sporting goods distributor Bellefontaine Logan 10 Expansion AGC Glass Company North America, Inc. Glass manufacturer for auto makers Bellefontaine Logan 20 Expansion Alliance Data Systems Inc. Back office Westerville Franklin 140 Expansion American Howa Kentucky Transportation equipment manufacturer Delaware Delaware 60 Expansion American Wire Technologies, Inc. Components for household appliances, primarily for Whirlpool Marion Marion 26 Expansion AmerisourceBergen Corporation Distributor and wholesaler of pharmaceutical products Lockbourne Franklin 100 Expansion AMG Industries, Inc. Automotive assemblies, exhaust tips Mt. Vernon Knox 10 Expansion Retention/Expansion Ascena Retail Group, Inc. Apparel retailer New Albany Licking 251 Avnet, Inc. Aftermarket services for the technology supply chain Groveport Franklin 625 Retention/Expansion Bank of America Corporation Commercial lending in the health care sector Westerville Delaware 38 Expansion Cellco Partnership (Verizon) Information services and software Hilliard Franklin 2,000 Retention/Expansion Century Insurance Group Financial services Westerville Franklin 27 Expansion Cheryl & Co. Gourmet cookies, desserts, baked goods and gift baskets Westerville Delaware 92 Expansion Compass Datacenters Wholesale colocation data center New Albany Franklin 26 Attraction Coyne Graphic Finishing Manufacturer of product displays Mt. Vernon Knox 6 Expansion Cyclone Power Technologies Developer of cyclone engine Lancaster Fairfield 84 Attraction Decillion Healthcare Specialty pharmacy Dublin Franklin 18 Attraction Diamond Hill Capital Management, Inc. Financial services Columbus Franklin 10 Expansion Duet Health Information services and software Columbus Franklin 22 Expansion Dynamit Technologies LLC Technology services and software Columbus Franklin 55 Retention/Expansion TBD TBD 95 Expansion Exel Direct Expedient Data Centers Information services and software Upper Arlington Franklin 4 Expansion Ezdure Bamboo Products (USA) LLC Bamboo flooring Dublin Franklin 8 Attraction FCX Performance, Inc. Distributor of process flow equipment Columbus Franklin 34 Retention/Expansion Fillmore Capital Partners Fund management and investment services Worthington Franklin 3 Expansion 14
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 NOTABLE EXPANSIONS & LOCATIONS | JAN-DEC 2013 (BOLD = Projects announced in Q4 2013) COMPANY DESCRIPTION CITY CTY. NO. JOBS TYPE Goodyear Tire and Rubber Company Rubber product manufacturing Hebron Licking 32 Attraction G-TEKT North America Corporation R&D for structural body parts for motor vehicles Dublin Franklin 77 Attraction G-TEKT North America Corporation Structural body parts of motor vehicles West Jefferson Madison 23 Attraction Harris, Mackessy & Brennan Inc. IT consulting Westerville Delaware 75 Expansion Harry and David Direct marketing and e-commerce Hebron Licking 18 Expansion HD Supply Facilities Maintenance Ltd. Supplier to commercial residential projects Groveport Franklin 120 Retention/Expansion HealthSpot, Inc. Health care stations Dublin Franklin 60 Expansion 50 Expansion Highlights for Children, Inc. Children's educational books Columbus Franklin HL-A Co., Inc Automotive Marysville Union 10 Expansion Union 50 Expansion Honda of America Mfg., Inc. Production of Honda Accord Sedan and Coupe and Acura TL. Marysville International Engineering Group LLC Plastic injection molds Hilliard Franklin 27 Expansion ISS America, Inc. Manufacturer of park plug cylinders Bellefontaine Logan 20 Expansion JELD-WEN, Inc. Manufacturer of vinyl windows and doors Mt. Vernon Knox 135 Expansion JPMorgan Chase Financial services Dublin Franklin 500 Expansion Komar Industries, Inc. Compactors and shredders Groveport Franklin 36 Expansion Kroger Co. Kroger Pharmacy's central fulfillment site Columbus Franklin 126 Retention/Expansion Lifestyle Communities Developer and operator of luxury apartment complexes Columbus Franklin 26 Expansion LSP Technologies, Inc. Developer of materials-processing technology for aerospace and power generation OEMs Dublin Franklin 20 Expansion Attraction lululemon athletica inc Consumer products Columbus Franklin 170 Management and Network Services Health-care management company Dublin Franklin 164 Expansion Marne Plastics, LLC Manufacturer of plastic and rubber products Columbus Franklin 3 Expansion Matrix Powder Technology, LLC Manufacturer of advanced powder coating resins Columbus Franklin 15 Attraction MBA Focus Recruitment technology solutions Dublin Franklin 4 Expansion Mediu LLC Call center, consulting services provider Worthington Franklin 18 Expansion Mitsuba Corporation Motor vehicle parts manufacturing Dublin Franklin 3 Attraction Molina Healthcare, Inc. Health care providers Columbus Franklin 300 Expansion Moriroku Technology North America Scientific and technical services Marysville Union 82 Retention/Expansion 15
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 NOTABLE EXPANSIONS & LOCATIONS | JAN-DEC 2013 (BOLD = Projects announced in Q4 2013) NO. JOBS TYPE 188 Expansion COMPANY DESCRIPTION CITY CTY. National Church Residences Head office of housing nonprofit organization Upper Arlington Franklin Navidea Biopharmaceuticals Biopharmaceuticals Dublin Franklin 60 Retention/Expansion NEX Transport Inc. Logistics services East Liberty Logan 90 Retention/Expansion Novotec Recycling LLC Recycled materials Columbus Franklin 235 Retention/Expansion OneKreate Marketing/communications Columbus Franklin NA Attraction Oxford Consulting Group, Inc. IT consulting Dublin Franklin 50 Expansion Perceptionist Small business call center services Westerville Franklin 46 Expansion 30 Attraction Persistent Systems Ltd. Software product engineering and development Dublin Franklin Phoenix Electrotek Manufacturer of wiring harnesses and cable assemblies Lancaster Fairfield 25 Expansion 40 Expansion Pillar Technology Group, LLC Strategic business consultant and software developer Columbus Franklin Precision CNC Metal parts for consumer goods or machines Lancaster Fairfield 9 Expansion Print Syndicate LLC E-commerce of custom design t-shirts and products Columbus Franklin 165 Retention/Expansion Prospex LLC Lead generation firm Dublin Franklin 27 Expansion Rudolph Brothers & Co Distributor of adhesives, sealants, and coatings Canal Winchester Fairfield NA Expansion Safelite Group, Inc. Headquarters, contact center, and automotive glass shops Columbus Franklin 350 Expansion SK Foods Food manufacturing and distribution TBD TBD 253 Attraction Spectrum Commercial Coatings Full service commercial and industrial coating contractor Columbus Franklin 30 Expansion SpeedFC, Inc. End-to-end e-commerce services Etna Township Licking 492 Retention/Expansion Stanley Electric U.S. Co. Automotive parts manufacturer London Madison 150 Expansion Tarrier Foods Inc. Manufactures candy toppings Columbus Franklin 25 Expansion Team Gemini LLC Renewable energy, landfill digester Grove City Franklin 80 Attraction Teleperformance Customer contact center Westerville Franklin 246 Expansion Thomas & Marker Construction Co. Construction company Upper Arlington Franklin 12 Expansion Tosoh SMD Advanced manufacturing Grove City Franklin 40 Expansion Toyo System Rechargeable battery testing systems Columbus Franklin 8 Attraction Toyobo Co. Ltd. Automotive manufacturing Dublin Franklin 3 Attraction Traycer Diagnostic Systems Inc. Information services and software Columbus Franklin 20 Expansion 16
    • QUARTERLY ECONOMIC UPDATE | Q4 2013 NOTABLE EXPANSIONS & LOCATIONS | JAN-DEC 2013 (BOLD = Projects announced in Q4 2013) COMPANY DESCRIPTION CITY CTY. NO. JOBS TYPE UMD Automated Systems State-of-the-art material handling and conveyor systems Fredericktown Knox 20 Expansion Union Tank Car Company Railroad tank car manufacturer and repair Marion Marion 30 Expansion Updox LLC Information services and software Dublin Franklin 37 Expansion Village of Mt. Sterling Brownfield site redevelopment Mt. Sterling Madison 15 Expansion Westerman, Inc. Oil and gas storage tanks Bremen Fairfield 24 Expansion Wyandot Inc. Snack foods Marion Marion 40 Expansion xperion E & E USA LLC Composite parts manufacturer for the automotive sector Heath Licking 59 Attraction Franklin 40 Expansion Zipline Logistics LLC Logistics service provider TBD 17