Your SlideShare is downloading. ×
Monthly Economic Update | February 2014
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

Monthly Economic Update | February 2014

236
views

Published on

The Columbus Region Monthly Economic Update reports on the job growth progress of Columbus 2020 and its local and regional partners. This update also features the successes of: department store …

The Columbus Region Monthly Economic Update reports on the job growth progress of Columbus 2020 and its local and regional partners. This update also features the successes of: department store retailer Bon-Ton Stores, which is opening a new e-commerce fulfillment center in Madison County that will create 139 new jobs; Sumitomo Electric Wiring Systems, an automotive electric systems manufacturer that will consolidate four Union County operations into one new facility and create an additional 15 new jobs; and CrossChx, a Columbus startup that provides scanners and software that link a patient's fingerprint to their medical records.

Published in: Business

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
236
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. MONTHLY ECONOMIC UPDATE columbusregion.com 614-225-6063 FEBRUARY 2014
  • 2. Jobs: 139 created Investment: Facilities: Distribution center 1 $25 million CASE STUDY: BON-TON STORES, INC. COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014 PROJECTS FEBRUARY 2014 AND YEAR-TO-DATE FIRST-TIME VISITS (2013 vs. 2014)NUMBER OF PROJECTS STARTED (2013 vs. 2014) PERCENT OF PROJECTS STARTED - MANAGED BY COLUMBUS 2020 (2013 vs. 2014) 87% 89%100% 72%76% 69% 77% 68%65% 80% 81% 65% 85% 79% 0% 20% 40% 60% 80% 100% 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 0 4 8 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 23 28 17 25 29 16 22 19 17 20 16 2020 24 0 10 20 30 40 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 York, PA- and Milwaukee-based Bon-Ton Stores announced that it will open a 743,000-square foot fulfillment center in West Jefferson, Madison County. Adding 139 new jobs, the distribution facility will ship women's apparel and accessories to online customers. Bon-Ton has experienced significant growth in e- commerce in recent years. The new facility will help serve existing sales as well as further growth. The company cited the Region's strategic location and strong base of e-commerce fulfillment operations as factors in its site selection decision.
  • 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 | FEBRUARY 2014 ACTIVE PROJECTS AS OF FEBRUARY 28, 2014 TOTAL ACTIVE PROJECTS (175 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 81 24 0 20 40 60 80 100 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. 60% 40% New Existing 64% 2% 34% Columbus 2020 Local ED partners JobsOhio 60%14% 26% Columbus 2020 Local ED partners JobsOhio 23 5 36 6 0 5 10 15 20 25 30 35 40 36 7 55 7 0 10 20 30 40 50 60 49% 51% Domestic International 83% 17% Domestic International
  • 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES FEBRUARY 2014 COMPLETED ACTIVITIES MARCH 2014 PLANNED ACTIVITIES Orlando JLL Academy Dallas Consultant Connect Annual Conference BUSINESS DEVELOPMENT MISSIONS: Los Angeles, Atlanta 3 COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014 Chicago: The Columbus 2020 team attended the German American Chamber of Commerce 2014 Economic Forum and held corporate and consultant meetings. Los Angeles: The Columbus 2020 team attended the Corporate Venturing and Innovation Partnering Conference to promote the Columbus Region to corporate investment and innovation partners. Los Angeles: The Columbus 2020 team attended the International Economic Development Council's Leadership Summit on the economic development industry's position in the global economy. Toronto: The 2020 team conducted a business development mission and met with Canadian companies as well as service providers focused on cross-border investment.
  • 5. FEBRUARY 2014 Performance: 22 visits in February (59 YTD) Visits conducted by: CASE STUDY: SUMITOMO ELECTRIC WIRING SYSTEMS Jobs: 15 created, 123 retained Investment: Facilities: Office, R&D 4 $10.2 million COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014 BUSINESS RETENTION & EXPANSION | FEBRUARY 2014 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR Sumitomo Electric Wiring Systems, Inc., which designs and manufactures electronic systems for the automotive locations into one, brand new facility in Marysville. The move will retain its existing 123 jobs and create 15 new jobs. The 15 new jobs will add new testing capabilities to existing operations in customer service, development and repacking. The consolidation will provide for greater efficiencies. In selecting the Columbus Region, the company cited proximity to key automotive customers. 54%32% 14% Columbus 2020 only Local ED partner only Both 2020 and LEDO 9 2 2 1 8 0 2 4 6 8 10 2 2 16 2 0 5 10 15 20
  • 6. Source: U.S. Patent and Trademark Office CASE STUDY: CROSSCHX 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 | FEBRUARY 2014 Columbus software startup CrossChx Inc. has more than doubled its staff to 28 in the past three months, continuing to grow as it adds clients and develops its revenue model. CrossChx provides fingerprint scanners and software that link a patient's fingerprint to their medical records. In February, CrossChx added Counteract, a paid feature that analyzes a vulnerabilities. CrossChx is a portfolio company of VC firm Drive Capital and was recently identified by Columbus 2020 as one of five local startups to watch for 2014. 1,207 962 1,078 1,314 500 750 1000 1250 1500 Oct Nov Dec Jan 165 151 246 269 0 50 100 150 200 250 300 Oct Nov Dec Jan 85 38 95 39 84 20 60 21 Inventor Assignee Oct Nov Dec Jan
  • 7. POLICY & ADVOCACY 6 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014 TRANSPORTATION & INFRASTRUCTURE Columbus ranked No. 8 metro for projects Site Selection again ranked Columbus among the top ten metro areas with more than 1 million population. Ohio ranked No. 2 among states for both number of projects and projects per capita. http://bit.ly/1hTY3yq Columbus among cities with most brainpower Business Journals ranked Columbus No. 27 among 102 U.S. metro areas with 500,000 or more population, based on educational attainment. http://bit.ly/1c0XClA Columbus among 8 finalist cities for RNC convention The Republican National Committee named eight finalists for its 2016 national convention. http://wapo.st/1pzH73E For all of the latest news, visit: http://columbusregion.com/Media-center/Recent- News.aspx Cutting taxes and growing Ohio small business On March 18, the Columbus Chamber will host an event for its members to learn more about how Ohio is reducing small business taxes, red tape and other costs. Attendees will hear directly from top executive officers of four state agencies: the Department of Taxation, Bureau of Workers' Compensation, Development Services Agency and information, go to: http://bit.ly/1eVMGkn New Rickenbacker-Hong Kong air cargo service On March 21, Cathay Pacific Airways will launch twice-a-week cargo deliveries on a route that includes Hong Kong, Anchorage, Columbus, New York and Vancouver. RCS Logistics Inc. will support operations with its 48,000-square-foot warehouse at Rickenbacker International Airport. North America. For more information, go to: http://bit.ly/1qfDbFx
  • 8. Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted Source: Xceligent Source: Columbus Board of Realtors 7 Note: County employment data has not been updated from the previous month due to the delayed release of data from BLS this month. $3.08 $9.20 Industrial Retail 6.3% 9.5% Source: Ohio Department of Job and Family Services Direct Asking Rent (per sf) Vacancy Rate Use Office 14.8% COMMERCIAL REAL ESTATE (AS OF FEBRUARY 28) HOUSING SALES $15.29 COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (DECEMBER 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 12/7/13 TO WEEK ENDING 3/1/14) 8.2% (+1.2) Marion 26,510 (-921) 6.8% (+0.8) Knox 28,036 (-16) Unemployment rate (Dec 2013) Number employed residents (Dec 2013) Change from Dec 2012 to Dec 2013 5.5% (+1.0) Delaware 92,133 (-64) 6.6% (+0.8) Fairfield 70,486 (-90) 6.4% (+1.0) Franklin 588,105 (-812) 6.9% (+0.9) Licking 79,610 (-85) 6.9% (+1.1) Madison 18,714 (-24) 7.3% (+0.7) Morrow 16,395 (+11) 7.9% (+1.0) Pickaway 22,543 (-31) 5.6% (+0.4) Union 25,990 (-26) 6.4% (+0.4) Logan 22,122 (+358) 0 400 800 1,200 1,600 2,000 2,400 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 12/7 12/14 12/21 12/28 1/4 1/11 1/18 1/25 2/1 2/8 2/15 2/22 3/1 Continuing New 2,610 2,332 1,458 $148K 2,175 1,143 1,337 $159K New Listings In Contracts Closed Sales Average Sales Price Jan 2013 Jan 2014