Monthly Economic Update | October 2013

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Monthly Economic Update | October 2013

  1. 1. MONTHLY ECONOMIC UPDATE 2013 OCT 2013 columbusregion.com 614-225-6063
  2. 2. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 PROJECTS OCTOBER 2013 AND YEAR-TO-DATE OCTOBER 2013 PERFORMANCE NUMBER OF PROJECTS STARTED (2012 vs. 2013) FIRST-TIME VISITS (2012 vs. 2013) OCTOBER 2013 14 projects started 15 50 44 12 - 187 year to date 40 7 first time visits 27 27 24 30 25 25 2120 19 19 - 51 year to date 20 11 30 9 23 20 18 17 16 14 14 13 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 6 6 5 6 7 2012 10 9 28 10 11 3 6 4 4 8 7 5 4 2 3 6 6 5 4 7 4 2 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 PROJECT FLOW Existing business projects started since Jan 2013: 96 Closed: 33 Won: 16 Active: 59 New business projects started since Jan 2013: 92 Sales: 43 Lost: 17 Offer Made: 10 Under Negotiation: 6 Won: 55 Closed: 65 Active: 31 Lost: 10 Offer Made: 3 Under Negotiation: 19 Sales: 9 1
  3. 3. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 ACTIVE PROJECTS AS OF OCTOBER 31, 2013 TOTAL ACTIVE PROJECTS (134 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR 35 30 18% EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 27 20% 25 20 42% 12 15 18% 64% 58% 15 10 2 5 80% 0 Columbus 2020 New Existing Domestic Local ED partners International JobsOhio ATTRACTION PROJECTS: SUSPECTS AND PROSPECTS ATTRACTION PROJECTS: PROJECTS BY SOURCE ATTRACTION PROJECTS: PROJECTS BY SECTOR ATTRACTION PROJECTS: DOMESTIC/INTERNATIONAL 80 70 60 57 6% 50 8% 40 21 30 20 10 86% 0 Suspect Prospect Suspects = Projects identified and qualified via direct dialogue with the company or consultant representing the company. Columbus 2020 Local ED partners 45 40 35 30 25 20 15 10 5 0 39 21 36% 16 64% 2 Domestic International JobsOhio Prospects = Projects qualified, parameters defined and the company or consultant has visited the Region. 2
  4. 4. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES OCTOBER 2013 COMPLETED ACTIVITIES Los Angeles: The 2020 team attended the Silicon Beach Investor Conference and networked with leaders in digital media and emerging technologies from around the world. Las Vegas: The 2020 team attended the CBRE Americas Summit, participating in economic development sessions and meeting with site selection consultants. Atlanta & Indianapolis: The 2020 team traveled to Atlanta to hold meetings with site selection consultants and traveled to Indianapolis for an active project meeting. Chicago: The 2020 team attended the Women in Economic Development Forum and the DMA Annual Conference for data driven marketing. Cleveland & Buffalo: The 2020 team attended the Cleveland Clinic Annual Healthcare Conference in Cleveland and the Bright Venture Forum in Buffalo. Philadelphia & Washington, D.C.: The 2020 team attended two economic development conferences, the IEDC Conference in Philadelphia and the SelectUSA Conference in Washington, D.C. Toronto: The 2020 team met with Canadian manufacturers as well as service providers focused on cross-border investment. New York City: The 2020 team participated in a market visit along with JobsOhio to meet with site selection consultants and promote Ohio and the Columbus Region. NOVEMBER 2013 PLANNED ACTIVITIES BUSINESS DEVELOPMENT MISSIONS: Dallas, New York INTERNATIONAL ACTIVITIES: Germany, United Kingdom, Mexico 3
  5. 5. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 BUSINESS RETENTION & EXPANSION | OCTOBER 2013 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION OCTOBER 2013 Performance: VISITS CONDUCTED BY SECTOR 25 10 8 28 Visits in October (349 YTD) 20 8 15 6 Visits conducted by: 5 4 4 18% 39% 15 5 3 3 10 2 5 0 Columbus 2020 only 8 3 0 2 Local ED partner only 43% Both 2020 and LEDO CASE STUDY: CHERYL'S -based company now owned by the 1-800-Flowers Family of Brands, has announced it will double its production capacity in response to high customer demand. In addition to expanding its current facility by 42,000 square feet, the roster over the next three years. Jobs: 92 created Investment: $8.3 million Facilities: company will add 92 new jobs to its 160-employee Manufacturing Known for its freshfounded more than 30 years ago in the Columbus Region by Cheryl Krueger and her college roommate. -based retail stores, an e-commerce site and a catalog-driven Business Gift Division all from its headquarters in Westerville. 4
  6. 6. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 BUSINESS CREATION NEW BUSINESS REGISTRATION* BUSINESS DISSOLUTIONS, SURRENDERS, WITHDRAWALS PATENTS BY REGION INVENTORS & ASSIGNEES 300 1500 80 84 83 72 250 1250 1,114 1,140 1,114 1,020 1000 200 180 199 176 170 150 30 100 28 20 750 20 50 500 0 Jun Jul Aug Sep Jun Jul Aug Sep Inventor June 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. Assignee July August September Source: U.S. Patent and Trademark Office CASE STUDY: PREVEDERE Prevedere, a Dublin-based predictive analytics startup, recently raised $1.2 million in seed round financing. The company provides software that can combine a business' proprietary data with external economic data to aid forecasting and planning. Customers in the Columbus Seed round investment: $1.2 million Region include Momentive Specialty Chemicals and Advanced Drainage Systems. With seed funding in place to support the current staff of six employees and four interns, Prevedere is looking toward Series A financing to bring staff to 30 employees over the next 18 months and 150 over the next five years. 5
  7. 7. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS TRANSPORTATION & INFRASTRUCTURE POLICY & ADVOCACY Ohio No. 4 in state business climate rankings New $120M state fund for locally owned bridges Ohio Medicaid expansion On October 31, Governor Kasich announced a first- On October 21, the state's General Assembly on the of-its-kind $120 million effort to repair and replace Controlling Board approved the spending of $2.56 county and municipality-owned bridges over the billion in federal funds to expand Medicaid next three years. Work is expected to begin on the coverage to about 275,000 low-income Ohioans. first 40 bridges next year, 11 of which are in the The expansion will take effect at the start of 2014. Site Selection ranks Ohio among the top states for business based on capital investments, taxes, competitiveness and a survey of executives. http://bit.ly/1efbwjZ Columbus a Smart21 city for the third year in a row The Intelligent Community Forum selected the city of Columbus Region. Columbus as one of the world's Smart21 communities of In January 2013, the Columbus Chamber was the The Ohio Department of Transportation will work first business organization in Ohio to express with local officials to identify the remaining bridges support for the expansion of Medicaid. Responsible Columbus in top 10 for affordable housing markets to repair or replace in the following years. Bridges Medicaid coverage moves individuals to more Trulia, the residential property listings web site, ranks will be selected based on a variety of factors appropriate, lower-cost healthcare, reducing the Columbus No. 9 among the 100 largest U.S. metro areas in including safety and importance to local job creation burdens currently borne by employers, hospitals the percent of homes available to the middle class. efforts. The state anticipates that more than 200 and the Region's citizens in the form of higher http://bit.ly/1c2eMeY bridges will be repaired or replaced over the course health insurance costs. 2014. http://bit.ly/1hnNAL7 of the program. For all of the latest news, visit: http://columbusregion.com/Media-center/Recent- News.aspx 6
  8. 8. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2013 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (August 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 8/3/13 TO WEEK ENDING 10/26/13) Continuing 6.5% (-0.3) Madison 18,916 (+225) 6.2% (-0.0) Franklin 593,931 (+6,880) 7.7% (+0.0) Pickaway 22,785 (+267) 1,400 12,000 1,200 11,000 1,000 7.1% (+0.5) Licking 80,154 (+971) 6.4% (-0.1) Fairfield 70,942 (+848) 10/26 10/19 10/12 10/5 0 9/28 200 9/21 400 7,000 9/14 600 8,000 9/7 800 9,000 6,000 7.2% (+0.3) Knox 27,249 (-516) 8/31 10,000 8/24 5.7% (+0.0) Union 25,796 (+313) 5.3% (+0.1) Delaware 91,655 (+1,118) 1,600 13,000 7.4% (+0.2) Morrow 16,045 (+195) 1,800 14,000 8/17 7.8% (+0.3) Marion 26,610 (-769) 2,000 15,000 6.7% (-0.2) Logan 21,517 (-15) Number employed residents (Aug 2013) New 16,000 8/10 Change from Aug 2012 to Aug 2013 8/3 Unemployment rate (Aug 2013) Source: Ohio Department of Job and Family Services COMMERCIAL REAL ESTATE (AS OF OCTOBER 31) Use Vacancy Rate Direct Asking Rent (per sf) Office 14.9% 7.5% 9.3% $9.88 1,968 2,226 $2.97 Retail $168K $175K 2,861 2,744 2,617 2,675 $15.48 Industrial HOUSING SALES Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted Note: The release of BLS data for September is delayed due to the federal government shutdown. New Listings In Contracts Sep 2012 Source: Xceligent Closed Sales Average Sales Price Sep 2013 Source: Columbus Board of Realtors 7

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