July 2012 Monthly Report

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Our July 2012 Monthly Report includes details on everything happening in Columbus region economic development, including major projects from MSC Industrial, Sarnova and AutoTool.

Our July 2012 Monthly Report includes details on everything happening in Columbus region economic development, including major projects from MSC Industrial, Sarnova and AutoTool.

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  • 1. MONTHLY ECONOMIC UPDATE | JULY 2012
  • 2. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012PROJECTS JULY 2012 AND YEAR-TO-DATEJULY 2012 & YTD PERFORMANCE NUMBER OF PROJECTS (2012 v. 2011) FIRST-TIME VISITS (2012 v. 2011)July 2012 15 5021 Projects (158 YTD) 12 37 123 First Time Visits (44 YTD) 40 9 27 9 8 8 30 25 7 7 7 22 21 6Year to Date 18 19 20 17 16 6 5Through July 2012, Columbus 2020 had 158 projects 12 14 12 13 4 4 4 9 11 11 9 9 10 3 3started year to date, more than 80 percent higher than 10 3 2 2 2 2the 2011 pace. There were also 44 first-time visits to the 0 0 0Columbus Region by companies year to date through Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecJuly, 38 percent higher than the 2011 pace. 2011 2012 2011 2012APPROVED PROJECTS BY JOBS OHIO CASE STUDY: MSC INDUSTRIAL DIRECTNETWORK MSC Industrial Direct Co. Inc., will build its fifth U.S. 2011 2012 YTD distribution center in the Columbus Region. The new 4% 400,000-square-foot facility on the west side of the city of Columbus will entail $55 million in capital investment and 18% 5% 9% an expected 300 jobs by the end of 2017. 39% 37% 12% 10% Jobs: 300 MSC is a national distributor of metalworking and Capital Investment: $55 million 13% maintenance, repair and operations (MRO) products and 5% 25% services. The company supplies manufacturers with more Facility: Distribution 22% 1% 400,000 sf than 600,000 in-stock industrial products, helping increase their customers productivity, efficiency and cost savings. Columbus 2020 Team NEO Cincinnati USA Dayton Development MSC cited numerous factors in selecting Columbus, Appalachia Toledo RGP including its market access, workforce, and lower costs of Jobs Ohio doing business. 1
  • 3. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012ACTIVE PROJECTS AS OF JULY 31, 2012TOTAL ACTIVE PROJECTS EXPANSION PROJECTS: EXPANSION PROJECTS:(138 PROJECTS) PROJECTS BY SOURCE PROJECTS BY INDUSTRY 35 30 30 24% 25 42% 20 15 15 17% 59% 8 58% 10 5 5 0 Columbus 2020 New Existing Local ED partners JobsOhioATTRACTION PROJECTS: ATTRACTION PROJECTS: ATTRACTION PROJECTS: ATTRACTION PROJECTS:SUSPECTS AND PROSPECTS PROJECTS BY SOURCE PROJECTS BY INDUSTRY DOMESTIC/INTERNATIONAL 70 62 35 60 30 50 30 24 40 20% 25 30 3% 20 35% 18 15 20 15 11 10 10 65% 77% 0 5 Suspect Prospect 0 Suspects = Projects identified and qualified via direct dialogue with the Columbus 2020 company or consultant representing the Domestic International Local ED partners company. JobsOhio Prospects = Projects qualified, parameters defined and the company or consultant has visited the Region. 2
  • 4. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIESJULY 2012 COMPLETED ACTIVITIES Washington DC: The 2020 business development team travelled to the Washington DC area, meeting with site selection consultants and prospective companies. Las Vegas: The 2020 team attended the COSMOPROF North America trade show, networking and meeting with companies in the cosmetics, personal care, and beauty industries. Nashville: The 2020 business development team travelled to Nashville to meet with site selction consultants engaged with active projects in the Columbus Region. In China, The 2020 international business development team conducted a mission to China and partcipated in dozens of meetings with companies, industry associations, and officials. The 2020 team will make a return visit to China this fall.AUGUST - OCTOBER 2012 PLANNED ACTIVITIES Salt Lake City Logistics Development Forum Minneapolis US Midwest Japan Association Annual Meeting Houston IEDC Annual Conference Atlanta International Air Cargo Conference Columbus, San Diego, Omaha, Chicago, Los Angeles Farm Science Review (London, OH), Colliers Annual Conference, IAMC, Area Development Forum, SIOR Fall World Conference BUSINESS DEVELOPMENT MISSIONS: St. Louis, Detroit, Toledo, California, Denver INTERNATIONAL ACTIVITIES: Columbus 2020 Toronto, China, & Japan Missions 3
  • 5. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012BUSINESS RETENTION & EXPANSION | JULY 2012BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY INDUSTRY 20 18 30 July 2012 Performance: 24 44 Visits in June (311 YTD) 25 15 13 31 by 2020 staff and 13 reported by local 20 economic development partners 10 15 12 6 4 10 5 3 4 4 5 Columbus 41% 2020 0 0 59% Local ED partnersCASE STUDY: BOUND TREE MEDICALBound Tree Medical LLC, a division of Sarnova, Inc., will moveat least 21 jobs from California to the Columbus Region. Thecompany currently has approximately 160 workers at its35,000-square-foot office. The new jos will average about$60,000 in annual salary. Jobs: 41 Capital investment: $150,000Sarnova is a specialty provider of emergency medical andacute care products. The company offers more than 100,000 Facility: Office (existing)different products to emergency care facilities, hospitals, andother patient-care facilities across the nation.The Dublin office was one of several existing facilities aroundthe U.S. for which Bound Tree was considering consolidation. 4
  • 6. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012BUSINESS CREATIONNEW BUSINESS REGISTRATION* BUSINESS DISSOLUTIONS, PATENTS BY REGION INVENTORS & SURRENDERS, WITHDRAWALS ASSIGNEES 1500 1,401 250 204 84 1,216 200 171 178 1250 1,163 1,155 66 64 141 58 150 1000 100 21 23 24 750 19 50 500 0 Mar Apr May Jun Mar Apr May Jun Inventor Assignee Mar Apr May JunSource: Ohio Secretary of State Source: U.S. Patent and Trademark Office*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.CASE STUDY: NANOFIBER SOLUTIONSNanofiber Solutions LLC has teamed up with The Ohio StateUniversity, Case Western University, BioOhio and others for a$4.8 million collaboration in stem cell research. Spun off fromOSU in 2009, Nanofiber Solutions develops and manufacturesproducts to advance life science research, tissue engineering andregenerative medicine. Specifically, they produce membranesmade of thin plastic fibers to mimic human tissue in which cellscan grow.In April, Nanofiber received an investment of $500,000 from theTechColumbus Pre-Seed Fund, which makes convertible debtcompanies. The collaboration will provide Nanofiber and othercompanies access to equipment and expertise that they wouldnormally not be able to use. 5
  • 7. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012ECONOMIC DEVELOPMENT NEWSCOLUMBUS IN THE NEWS LEGISLATION AND ADVOCACY WORKFORCEColumbus ranks 10th in income adjusted for cost of living Columbus Chamber Policy Agenda Update. On July 11, Smart Works in Franklin County. On July 10, theForbes Magazine ranked Columbus no. 10 on its list of the the Columbus Chamber released a mid-year update of its Franklin County Commissioners introduced a newcities where a paycheck stretches the furthest. progress on advocacy goals set at the start of 2012. effort to target its investments workforcehttp://onforb.es/LYYfxd Compiled with input from Chamber members and the development and job creation. Through incentives, entrepreneur training and financial support, the SmartThe Atlantic Cities ranks Columbus 4th in corporate clout the 2012 Public Policy Agenda focuses on local, state and Works program will provide funding forWhen ranked by number of Fortunes Global 500 federal regulatory and reform projects that impact microenterprise loans, business plan development forheadquarters per capita, Columbus ranks 4th with 1.63 HQs businesses in the Columbus Region. startups, green job development, and furtherper million people. http://bit.ly/NqBMs5 coordination with Columbus 2020. Progress achieved year to date includes work on zoningOhio receives high marks for industry health, global reach and other municipal services, participation in the Logistics Job Fair. On August 21, the ColumbusConexus Indianas 2012 Manufacturing and Logistics National Municipal Income Tax Uniformity Coalition, and advocacy Region Logistics Council and the Columbus Chamber,Report gives Ohio "A" grades for manufacturing and for legislation such as HB 436 (SiteOhio Certification) and in cooperation with Columbus State Communitylogistics industry health and market access. SB 314 (JobsOhio 2). For more information, see: College, will host the semi-annual logistics job fair. http://www.columbus.org/www/dcms/files/pdf/reports/ Participating companies to date include Cardinal 2012-ppa-updated-7-2-12.pdf. Health, FedEx, Limited Brands, and other major logistics employers in the Region. For more INFRASTRUCTURE information, see: http://columbus.org/events/details.dT/logistics-job- Access Ohio 2040. The Ohio Department of fair-2. Transportation (ODOT) has begun the process of updating Ohios long-range transportation plan, Access Ohio. The new plan, with a horizon year of 2040, will include a comprehensive inventory, forecast, and analysis of trends and issues affecting transportation in Ohio. This plan will set the stage for ODOT transportation policies and investment strategies for the coming years. Access Ohio 2040 will be completed in 2013. For more information, see: http://www.dot.state.oh.us/Divisions/Planning/SPR/Stat 6
  • 8. COLUMBUS 2020 MONTHLY UPDATE | JULY 2012REGIONAL ECONOMIC DATANUMBER EMPLOYED AND UNEMPLOYMENT RATE (JUNE 2012) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 4/28/12 TO WEEK ENDING 7/28/12) Continuing NewUnemployment Change from June 2011 to 15,000 1,800 rate June 2012 14,500 1,600 (June 2012) 14,000 1,400 7.7% (-2.5) 7.4% (-2.4) 13,500 1,200 Marion Morrow 13,000 16,086 (+229) 1,000 27,262 (-113) 12,500 800 12,000 6.9% (-1.2) 7.2% (-2.1) 600 11,500 Logan Knox 400 11,000 21,062 (-298) 5.0% (-0.9) 27,506 (+633) 10,500 200 Delaware 5.4% (-2.0) 10,000 0 88,373 (+1,243) 6/2 6/9 6/16 6/23 5/5 4/28 5/12 5/19 5/26 7/7 7/14 7/21 7/28 6/30 Union 25,334 (+356) Number employed 6.6% (-1.7) Source: Ohio Department of Job and Family Services residents Licking (June 2012) 79,356 (+1,114) 6.2% (-1.3) Franklin 5.8% (-0.1) 583,262 (+8,364) Madison 18,854 (+269) COMMERCIAL REAL ESTATE HOUSING SALES 6.1% (-1.3) (AS OF JULY 31) Fairfield 3,587 $168K 7.6% (-1.7) 70,031 (+992) 3,344 $158K Direct Asking 3,161 Pickaway Use Vacancy Rate Rent 22,565 (+323) 2,429 (per sf) 2,000 2,056 Office 16.3% $14.94Source: U.S. Bureau of Labor Statistics, Local Area UnemploymentStatistic, Seasonally Adjusted Industrial 8.6% $3.26 New In Closed Average Listings Contracts Sales Sales Price Retail 10.3% $9.68 Jun 2011 Jun 2012 Source: Xceligent Source: Columbus Board of Realtors 7