Monthly Economic Update | January 2014
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Monthly Economic Update | January 2014

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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: Gwynnie Bee, an apparel ...

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: Gwynnie Bee, an apparel retailer locating its flagship fulfillment center in Groveport and creating 401 jobs; S-E-A, Ltd., a leader in forensic analysis, research and testing that is adding 30 jobs on top of its current 96 in Columbus; and five local startup companies that have the potential for explosive growth in 2014.

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Monthly Economic Update | January 2014 Monthly Economic Update | January 2014 Presentation Transcript

  • MONTHLY ECONOMIC UPDATE columbusregion.com 614-225-6063 JANUARY 2014
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 PROJECTS JANUARY 2014 AND YEAR-TO-DATE NUMBER OF PROJECTS STARTED (2013 vs. 2014) PERCENT OF PROJECTS STARTED - MANAGED BY COLUMBUS 2020 (2013 vs. 2014) 40 100% 30 28 23 20 20 25 89%100% 87% 80% 81% 77% 72%76%69% 80% 68%65% 65% 85% 29 22 17 16 19 17 20 20 FIRST-TIME VISITS (2013 vs. 2014) 12 8 5 16 10 5 4 4 4 3 4 22 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5 4 20% 0 7 60% 40% 2013 7 8 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 2013 2014 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 CASE STUDY: GWYNNIE BEE Gwynnie Bee, a subscription-based apparel retailer that offers membership programs for women, has chosen the Columbus Region as the location for its new, flagship fulfillment center. Groveport over the next three years, including 70 Jobs: 401 created management and administration positions and Investment: $1.9 million approximately 330 general associate positions. Facilities: Fulfillment center The company cited the Region's strategic location and skilled workforce as key reasons for choosing to do business here. 1
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 ACTIVE PROJECTS AS OF JANUARY 31, 2014 TOTAL ACTIVE PROJECTS (165 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR 35 30 EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 27 26 16% 25 25% 20 41% 15 15% 59% 60% 8 6 10 5 84% 0 Columbus 2020 New Existing Domestic Local ED partners International JobsOhio ATTRACTION PROJECTS: SUSPECTS AND PROSPECTS 80 ATTRACTION PROJECTS: PROJECTS BY SOURCE ATTRACTION PROJECTS: PROJECTS BY SECTOR ATTRACTION PROJECTS: DOMESTIC/INTERNATIONAL 74 70 60 60 54 50 50 40 40 35% 24 30 20 62% 10 20 45% 23 30 10 11 55% 10 0 Suspect Prospect Suspects = Projects identified and qualified via direct dialogue with the company or consultant representing the company. 0 3% Columbus 2020 Local ED partners Domestic International JobsOhio Prospects = Projects qualified, parameters defined and the company or consultant has visited the Region. 2
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES JANUARY 2014 COMPLETED ACTIVITIES New York: The 2020 team attended the National Retail Federation annual conference to promote the Columbus Region to growing retailers and their key service providers. Atlanta: The 2020 team visited the Atlanta market for an international active project meeting as well as meetings with site selection consultants. Washington, D.C.: The 2020 team traveled to Washington to hold meetings with site selection consultants. Indianapolis: The 2020 team traveled to Indianapolis to hold meetings with site selection consultants. FEBRUARY 2014 PLANNED ACTIVITIES Chicago German American Chamber of Commerce Midwest Economic Forum Denver Site Selectors Guild Annual Conference Los Angeles Corporate Venturing & Innovation Partnering Conference IEDC Leadership Summit BUSINESS DEVELOPMENT MISSIONS: Chicago INTERNATIONAL ACTIVITIES: Toronto Mission 3
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 BUSINESS RETENTION & EXPANSION | JANUARY 2014 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION JANUARY 2014 Performance: 8 8 8 7 15 6 Visits conducted by: 4 4 Columbus 2020 only 4 10 8 3 5 2 0 44% 47% 19 20 10 37 visits in January 9% VISITS CONDUCTED BY SECTOR 4 3 0 Local ED partner only Both 2020 and LEDO CASE STUDY: S-E-A, LTD. Columbus-based Scientific Expert Analysis, Ltd. (S-E-A, Ltd.) is a leader in forensic analysis, research and testing. The company has grown to ten offices nationwide employing more than 250 professionals. S-E-A needed to consolidate operations requiring a new building at their current headquarters location. The project will retain 96 existing employees and create 30 new jobs. Road limitations were an impediment to the Jobs: 30 created Investment: $9.3 million Facilities: Headquarters, R&D project. Columbus 2020 engaged the City of Columbus, JobsOhio and the Ohio Department of Transportation's Office of Jobs & Commerce to work with the company to resolve the issue. The committed solution will permit the project to proceed, resulting in a world-class corporate headquarters and R&D center. 4
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 BUSINESS CREATION NEW BUSINESS REGISTRATION* BUSINESS DISSOLUTIONS, SURRENDERS, WITHDRAWALS PATENTS BY REGION INVENTORS & ASSIGNEES 95 300 1500 85 246 250 1,207 1250 1,078 1,020 962 1000 200 84 72 176 165 151 150 38 100 39 20 750 20 50 500 0 Sep Oct Nov Dec Sep Oct Nov Dec Inventor September 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. October Assignee November December Source: U.S. Patent and Trademark Office 5 STARTUPS TO WATCH IN 2014 Columbus 2020 recently identified five local startup companies that have the potential for explosive growth in 2014.  CrossChx Inc.: fingerprint recognition technology for medical records access.  Duet Health LLC: mobile software to help patients monitor therapy, prescription and other outpatient care.  InfoMotion Sports Technologies Inc.: sensors and software tools to improve athletic performance.  NChannel Inc.: software to integrate information between in-store, online, wholesalers and other sales channels.  Print Syndicate LLC: design, marketing and technology company spun off of shirt-maker Skreened. For more information, go to: http://bit.ly/1jckdxS 5
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 ECONOMIC DEVELOPMENT NEWS COLUMBUS REGION IN THE NEWS TRANSPORTATION & INFRASTRUCTURE WORKFORCE Columbus named a Top7 Intelligent Community MORPC transportation funds application OSU to create Big Data research & training HQ The Mid-Ohio Regional Planning Commission The Ohio Higher Education Funding Commission (MORPC) has proposed revisions to improve the has recommended $53 million in state dollars to project selection process for its funds in 2014. This support The Ohio State University's data analytics process includes funds received directly from education and training programs. Two campus federal transportation programs as well as those buildings will be renovated to accomodate expert sub-allocated through the Ohio Department of faculty and state-of-the-art research space as a Transportation. data analytics headquarters. seeking a higher standard of living and better jobs. Eligible areas for projects include Franklin County, The project will help fulfill the commitment OSU http://yhoo.it/LYqBLw Delaware County, the City of Pataskala and Etna made to expand its data analytics programs when Township in Licking County, the City of IBM selected to locate its Client Center for Columbus proves only Ohio metro area to recover all Pickerington, the villages of Carroll and Lithopolis, Advanced Analytics in the Columbus Region in the jobs lost in recession and Bloom and Violet townships in Fairfield County. fall of 2012. OSU's facilities, along with their faculty For the second year in a row, the Intelligent Community Forum has included Columbus in its Top7 list of Intelligent Communities in the world. http://bit.ly/1mMjhQY Columbus ranked No. 9 new opportunity city Based on analysis by William Frey of the Brookings Institution, Columbus ranked No. 9 for attracting workers According to an IHS Global Insight Report, Columbus is the only metro area in Ohio to recover all jobs lost in the recession due to manufacturing gains. http://bit.ly/LhXC42 and students, will serve as a resource for IBM and Public comments on the proposed revisions are industry in general seeking data analytics services. currently being by MORPC through February 21. For more information, go to: http://www.morpc.org/transportation/funding grants/morpc-attributable-funding/index For all of the latest news, visit: http://columbusregion.com/Media-center/RecentNews.aspx 6
  • COLUMBUS 2020 MONTHLY UPDATE | JANUARY 2014 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (DECEMBER 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 11/2/13 TO WEEK ENDING 1/25/14) Continuing 6.9% (+1.1) Madison 18,714 (-24) 2,000 16,000 7.3% (+0.7) Morrow 16,395 (+11) 6.4% (+1.0) Franklin 588,105 (-812) 7.9% (+1.0) Pickaway 22,543 (-31) 1,200 12,000 6.8% (+0.8) Knox 28,036 (-16) 800 10,000 6.9% (+0.9) Licking 79,610 (-85) 6.6% (+0.8) Fairfield 70,486 (-90) 1/25 1/18 1/11 1/4 12/28 0 12/21 6,000 12/14 400 12/7 8,000 11/30 5.5% (+1.0) Delaware 92,133 (-64) 1,600 14,000 11/23 5.6% (+0.4) Union 25,990 (-26) 2,400 18,000 11/16 8.2% (+1.2) Marion 26,510 (-921) 6.4% (+0.4) Logan 22,122 (+358) Number employed residents (Dec 2013) New 20,000 11/9 Change from Dec 2012 to Dec 2013 11/2 Unemployment rate (Dec 2013) Source: Ohio Department of Job and Family Services COMMERCIAL REAL ESTATE (AS OF JANUARY 31) HOUSING SALES $176K Use Vacancy Rate $158K Direct Asking Rent (per sf) 1,518 Office 14.6% $15.65 Industrial 6.5% $3.84 Retail 9.6% $9.19 1,829 1,806 1,693 1,735 1,463 Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted New Listings In Contracts Dec 2012 Source: Xceligent Closed Sales Average Sales Price Dec 2013 Source: Columbus Board of Realtors 7