Monthly Economic Update | August 2013

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Monthly Economic Update | August 2013

  1. 1. MONTHLY ECONOMIC UPDATE 2013 AUG 2013 columbusregion.com 614-225-6063
  2. 2. AUGUST 2013 PERFORMANCE CASE STUDY: ACE HARDWARE Jobs: 100 created Capital investment: $27 million Facilities: Distribution center 1 COLUMBUS 2020 MONTHLY UPDATE | AUGUST 2013 PROJECTS AUGUST 2013 AND YEAR-TO-DATE NUMBER OF PROJECTS STARTED (2013 v. 2012) FIRST-TIME VISITS (2013 v. 2012) AUGUST 2013 17 projects started - 161 year to date 5 first time visits 25 11 27 24 20 44 16 30 20 23 28 7 19 26 19 21 27 13 19 17 0 10 20 30 40 50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 11 6 6 6 9 4 3 6 6 10 4 22 5 4 4 7 4 6 5 0 3 6 9 12 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 Illinois-based Fortune 500 wholesaler Ace Hardware selected the Columbus Region for the relocation of its Toledo-area distribution center. One hundred jobs will be relocated to Park 70 in West Jefferson, Madison County, with $27 million to be invested in a new distribution center, initially occupying 450,000 square feet with potential to expand. Ace had outgrown its old space and needed to move. With the company's current reorganization and consolidation, Ace was considering other states such as Kentucky, Michigan and Pennsylvania. The Columbus Region's access along I-70 and the importance of workforce training for the company helped retain the company in Ohio.
  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 | AUGUST 2013 ACTIVE PROJECTS AS OF AUGUST 31, 2013 TOTAL ACTIVE PROJECTS (144 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 64 13 0 10 20 30 40 50 60 70 80 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. 53% 47% New Existing 84% 9% 7% Columbus 2020 Local ED partners JobsOhio 64% 21% 15% Columbus 2020 Local ED partners JobsOhio 33 9 16 9 0 5 10 15 20 25 30 35 36 13 19 9 0 5 10 15 20 25 30 35 40 65% 35% Domestic International 90% 10% Domestic International
  4. 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES AUGUST 2013 COMPLETED ACTIVITIES SEPTEMBER 2013 PLANNED ACTIVITIES Salt Lake City IAMC Conference BUSINESS DEVELOPMENT MISSIONS: San Francisco, Chicago, Atlanta, Greenville INTERNATIONAL ACTIVITIES: Columbus 2020 Japan Mission 3 COLUMBUS 2020 MONTHLY UPDATE | AUGUST 2013 Salt Lake City: The 2020 team attended the Logistics Development Forum to network and to attend education sessions on the supply chain and site selection process for warehousing and distribution. Seattle: The 2020 team met with three companies that have active projects in the Columbus Region and with the headquarters of an existing business. Detroit: The 2020 team visited the Detroit market and held meetings with site selection consultants, companies and the Canadian consulate. Indianapolis/Cleveland: The 2020 team held active project meetings along with site selection consultants. Northeast: The 2020 team traveled to Rochester, New York City and Connecticut to hold meetings with companies and location consultants. Washington, D.C.: The 2020 team attended meetings with IEDC leaders and met with White House officials to discuss federal policies and opportunities for engagement.
  5. 5. AUGUST 2013 Performance: 38 Visits in August (268 YTD) Visits conducted by: CASE STUDY: PILLAR TECHNOLOGY GROUP Jobs: 40 created Capital investment: Facility: Office 4 $400,000 COLUMBUS 2020 MONTHLY UPDATE | AUGUST 2013 BUSINESS RETENTION & EXPANSION | AUGUST 2013 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR Pillar Technology Group, a software development and strategic business consulting company, announced that it will expand its Columbus Region presence by adding 40 jobs over the next three years. The company currently employs 56 at its downtown Columbus location. Pillar cited the Region's talent base as one of the elements necessary for the company's growth. New jobs will include software architects, developers and analysts. 26% 58% 16% Columbus 2020 only Local ED partner only Both 2020 and LEDO 11 3 7 3 7 7 0 2 4 6 8 10 12 5 5 25 3 0 4 8 12 16 20 24 28
  6. 6. Source: U.S. Patent and Trademark Office CASE STUDY: CORE QUANTUM TECHNOLOGIES 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 | AUGUST 2013 Core Quantum Technologies (CQT) has been awarded a $150,000 Phase I Small Business Innovation Research (SBIR) grant by the National Science Foundation to develop fluorescing nanoparticles for medical diagnosis, imaging, and research. The Columbus-based startup invented a type of nanoparticle that emits different colors to tag molecules in biomedical tests. The SBIR grant will help commercialize the technology as a product called MultiDot for clinical and pathology applications. MultiDot tags particles in different colors with greater brightness and longevity than existing technologies. A product variation called Magdot uses magnetic particles for additional tracking and manipulation capabilities. CQT is an example of the work of The Ohio State University's Technology Commercialization Office to generate startup success. 1,319 1,074 1,114 1,140 500 750 1000 1250 1500 Apr May Jun Jul 238 191 180 170 0 50 100 150 200 250 300 Apr May Jun Jul 85 24 99 27 80 20 84 30 Inventor Assignee Apr May June July
  7. 7. WORKFORCE 6 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS COLUMBUS 2020 MONTHLY UPDATE | AUGUST 2013 TRANSPORTATION & INFRASTRUCTURE 42 companies from Columbus Region on Inc. 5000 list The Region's tally for 2013 in Inc. magazine's list is up from 40 in 2012 and 5 in 2011. http://bit.ly/159NQI6 Exel identifies Columbus as e-commerce hub Columbus is noted as one of the most attractive locations in the U.S. for a national one-facility e-commerce distribution center. http://bit.ly/19ZTFMN Ohio among 10 states where manufacturing still matters USA Today lists Ohio based on its high levels of manufacturing output and employment. The state lags only much larger California and Texas in manufacturing jobs. http://usat.ly/1cBVHTw For all of the latest news, visit: http://columbusregion.com/news-events-reports/in-the- media Columbus Region Workforce Assessment Columbus 2020 and Site Selection Group are undertaking a first-ever regional workforce assessment that will give comprehensive insight into the Columbus Region labor force. Two study-related initiatives are under way: employer interviews that will determine companies' successes and obstacles when hiring in the Columbus Region, and an anonymous web-based survey that will provide insight into the existing workforce and determine areas of improvement for employee resources. All individuals 18-years-old and older are encouraged to take the survey, and participants can also choose to enter a drawing to win an iPad. For more information and to participate in a business interview or the individual survey, go to: http://columbusregion.com/connect-with- us/regional-workforce-assessment/ Port Columbus introduces new runway On August 22, Port Columbus International Airport debuted its new $140 million south runway. The 10,113-foot runway is the most expensive capital improvement project in the airport's history. Combined with other improvements, the airport has the capability to accommodate 8 to 10 million passengers a year. Other projects include $31 million for a baggage-handling system, $41 million for infrastructure improvements on and around Stelzer Road, and the ongoing $80 million renovation of the terminal. In August, Port Columbus also saw the start of additional flights to Los Angeles, and the Columbus Regional Airport Authority announced new flights to St. Petersburg, Florida that will begin in November.
  8. 8. Source: Xceligent Source: Columbus Board of Realtors 7 HOUSING SALES $15.48 $2.97 $9.43 Industrial Retail 6.8% 9.9% Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted Source: Ohio Department of Job and Family Services Direct Asking Rent (per sf) Vacancy Rate Use Office 15.6% COMMERCIAL REAL ESTATE (AS OF AUGUST 30) COLUMBUS 2020 MONTHLY UPDATE | AUGUST 2013 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (July 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 6/8/13 TO WEEK ENDING 8/31/13) 8.1% (+0.1) Marion 26,668 (-476) 6.9% (-0.0) Knox 27,868 (+75) Unemployment rate (Jul 2013) Number employed residents (Jul 2013) Change from Jul 2012 to Jul 2013 5.2% (+0.2) Delaware 91,957 (+1,197) 6.1% (+0.0) Fairfield 71,281 (+858) 6.2% (+0.1) Franklin 596,697 (+6,699) 7.0% (+0.6) Licking 80,632 (+1,014) 6.5% (+0.2) Madison 19,029 (+227) 7.7% (+0.7) Morrow 16,211 (+230) 7.8% (+0.3) Pickaway 22,907 (+264) 6.0% (+0.0) Union 25,817 (+327) 6.6% (+0.1) Logan 21,774 (+107) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 6/8 6/15 6/22 6/29 7/6 7/13 7/20 7/27 8/3 8/10 8/17 8/24 8/31 Continuing New 3,142 2,979 2,201 $186K3,665 3,515 2,825 $193K New Listings In Contracts Closed Sales Average Sales Price Jul 2012 Jul 2013

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