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: Stanley Electric, an automotive supplier that is creating 150 new jobs; Sage Sustainable Electronics, which is creating 50 new jobs at its new headquarters and processing center; and Lubrication Specialties, which is creating 20 new jobs at its office, manufacturing, R&D and warehouse facility.
2. 100%
100%
80%
60%
40%
20%
Jobs: 150 created
Investment:
Facilities: Manufacturing
1
$82 million
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
PROJECTS OCTOBER 2014 AND YEAR-TO-DATE
NUMBER OF PROJECTS STARTED PERCENT OF PROJECTS STARTED - MANAGED
FIRST-TIME VISITS (2013 vs. 2014)
(2013 vs. 2014)
BY COLUMBUS 2020 (2013 vs. 2014)
20 20
40
30
20
10
CASE STUDY: STANLEY ELECTRIC
87% 89%
72%
76%
69%
77%
79% 80%
68%
65% 80%
81%
65%
85%
79%
70%
77%
50%
83%
68%
67%
0%
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
5
6
5
4 4
1
7
6
3
12
8
4
0
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
24
20
30
22
24
19
12 14
20
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2014
Stanley Electric US Co. Inc., which designs and
manufactures lighting systems, climate control units and
displays for the automotive and motorcycle industry, is
investing $82 million to expand in London, Ohio. The
investment includes construction of a new production
facility and new machinery, both of which will position the
company to reach its goal as the No. 1 source for exterior
lighting. The company currently employs more than 970
in the Columbus Region and expects to add 150 jobs at the
new facility, including advanced manufacturing positions.
in London and community and state support as factors in
selecting the Columbus Region for expansion.
**Balance of started projects sourced/managed by JobsOhio
3. 2
62%
28%
10%
Columbus 2020
Local ED partners
JobsOhio
ATTRACTION PROJECTS:
PROJECTS BY SOURCE
80%
20%
Domestic International
ATTRACTION PROJECTS:
DOMESTIC/INTERNATIONAL
40
35
30
25
20
15
10
5
ATTRACTION PROJECTS:
PROJECTS BY SECTOR
69%
31%
New Existing
ATTRACTION PROJECTS:
SUSPECTS AND PROSPECTS
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
ACTIVE PROJECTS AS OF OCTOBER 31, 2014
TOTAL ACTIVE PROJECTS
(130 PROJECTS)
EXPANSION PROJECTS:
PROJECTS BY SOURCE
EXPANSION PROJECTS:
PROJECTS BY SECTOR
EXPANSION PROJECTS:
DOMESTIC/INTERNATIONAL
48
42
100
80
60
40
20
0
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.
67%
4%
29%
Columbus 2020
Local ED partners
JobsOhio
17
3
19
1
0
37
12
33
8
40
35
30
25
20
15
10
5
0
44%
56%
Domestic International
4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES
OCTOBER 2014 COMPLETED ACTIVITIES
NOVEMBER 2014 PLANNED ACTIVITIES
Columbus
Consultant Connect NY Summit
BUSINESS DEVELOPMENT MISSIONS:
INTERNATIONAL ACTIVITIES:
Germany business development mission
3
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
Dallas: The Columbus 2020 team traveled to Dallas to participate
in the International Economic Development Council (IEDC) Annual
Conference.
Chicago: The Columbus 2020 team attended the Women in
Economic Development Consultants Forum in Chicago.
New York City: The Columbus 2020 team participated in
discussions with economic developers and site selection
consultants at the Consultant Connect Summit Series in New York.
Atlanta/Lexington: The Columbus 2020 team traveled to Atlanta
and Lexington to hold company meetings.
Japan/China: The Columbus 2020 team conducted an
international mission to Japan and China holding nearly 40
meetings with companies considering investment in the U.S.
5. BUSINESS RETENTION & EXPANSION | OCTOBER 2014
BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR
October 2014 Performance:
14 visits in October (282 YTD)
Visits conducted by:
21%
50%
29%
Columbus 2020
only
Local ED
partner only
Both Columbus
2020 and LEDO
CASE STUDY: SAGE SUSTAINABLE ELECTRONICS
10
8
6
4
2
Jobs: 50 created
Investment:
Facilities: Headquarters
4
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
$2.5 million
Sage Sustainable Electronics, a newly created sustainable
electronics company, is opening its headquarters and
processing center in Columbus. The investment of more
than $2.5 million includes facility improvements, systems
and application development, production equipment and
an estimated 50 new technology sector jobs.
Michael Keegan, CFO, cited the high quality workforce and
extensive logistics and distribution infrastructure as
headquarters and first operating facility. He also noted the
large number of Fortune 1000 companies and the ability to
build relationships with an abundance of businesses in the
Columbus Region.
2
4
2
4
2
0
5
8
1
10
8
6
4
2
0
6. COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
Source: U.S. Patent and Trademark Office
BUSINESS CREATION
1,226
1,106
1,261 1,223
1500
1250
1000
750
500
Jun Jul Aug Sep
CASE STUDY: LUBRICATION SPECIALTIES, INC.
BUSINESS DISSOLUTIONS,
SURRENDERS, WITHDRAWALS
300
250
200
150
100
50
Jobs: 20 created
Investment:
Facilities: Manufacturing
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.
PATENTS BY REGION INVENTORS
& ASSIGNEES
NEW BUSINESS REGISTRATION*
$1.9 million
Lubrication Specialties, Inc. (LSI), specializing in hard-to-handle
automotive lubrication areas, is investing $1.9 million to build a
new facility in Morrow County. The new facility in Morrow
Meadows Industrial Park will include office, manufacturing, R&D
recognized brand led to the investment and creation of 20 new
jobs.
Chris Gabrelcik, founder and president of LSI, cited the
automotive customers as reasons the company chose to
expand locally.
142 137 147
173
0
Jun Jul Aug Sep
83
25
104
28
77
19
81
22
Inventor Assignee
June July August September
7. 6
ECONOMIC DEVELOPMENT NEWS
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
IN THE NEWS TRANSPORTATION & INFRASTRUCTURE
POLICY & ADVOCACY
Columbus identified as hot spot for entrepreneurs
Kiplinger ranked Columbus No. 10 city for starting a
business due to a low cost of living, a well-educated
workforce, a low unemployment rate and a blend of large
and small businesses. Columbus has resources including
Ryan Schick, Small Business Concierge, and the Small
Business Builder to help entrepreneurs get settled.
http://bit.ly/10Yswaz
Columbus No. 4 in per capita GDP growth
Data released by the Bureau of Economic Analysis (BEA)
ranked the Columbus metropolitan area No. 4 among the
52 largest MSAs in the U.S., with a real per capita GDP
growth of 8.19 percent from 2010 to 2013.
http://bit.ly/1zy8php
development
A survey of U.S. site selection consultants conducted by
Development Counsellors International ranked Columbus
regional economic development organizations. The award
was presented at the International Economic Development
Council (IEDC) Annual Conference where Columbus 2020
also won an additional six awards for various marketing
projects and campaigns.
http://bit.ly/1tgPlM8
For all of the latest news, visit:
http://columbusregion.com/Media-center/Recent-
News.aspx
Ohio Export Internship Program
The Ohio Export Internship Program is available for
Ohio businesses to take advantage of increased
export sales and new business opportunities. The
program was started in 2012 through a partnership
between the Ohio Development Services Agency
and The Ohio State University Fisher College of
Business and provides companies a means to
leverage the interns and begin to grow exports. The
program is mutually beneficial for interns and
companies by allowing students work experience
and businesses access to specifically trained
students. To date, 60 students have participated in
the program. So far companies have reported
about $180,000 in actual sales and more than $4
The internship program complements the
strategy, Columbus Global Connect. Columbus
Global Connect comprises the Metropolitan Export
Initiative which serves to connect export-ready
firms with export services and global markets; and
the Foreign Direct Investment Pilot Program which
includes a Columbus Region market assessment
and a foreign direct investment plan and policy.
For more information, visit: http://bit.ly/1zyc4vO
$91M capital investment proposed for
Rickenbacker
The Columbus Regional Airport Authority has a
created a $91 million, 10-year capital improvement
program to upgrade infrastructure and facilities
surrounding Rickenbacker Airport. Rickenbacker has
received recent logistics and export attention for its
partnerships with Cargolux, Cathay Pacific and
Consolidated Aviation Services that provide shippers
and freight forwarders increased export services.
The capital program includes proposals for a new air
traffic control tower and a fifth air cargo terminal to
satisfy expected demand for international cargo
shipments.
For more information, visit: http://bit.ly/1tM6liE
8. Change from
September 2013 to
September 2014
11-County Columbus Region = 4.3%
Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted
COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014
NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS
(WEEK ENDING 8/2/14 TO WEEK ENDING 11/1/14)
12,000
10,000
8,000
Source: Ohio Department of Job and Family Services
COMMERCIAL REAL ESTATE
(AS OF OCTOBER 31)
Source: Xceligent Source: Columbus REALTORS
7
$3.16
$10.15
Industrial
Retail
5.4%
9.2%
Direct
Asking Rent
(per sf)
Vacancy
Rate
Use
Office 13.4%
HOUSING SALES
$16.43
REGIONAL ECONOMIC DATA
NUMBER EMPLOYED AND UNEMPLOYMENT RATE
(SEPTEMBER 2014)
5.2% (-2.8)
Marion
26,644 (+211)
5.3% (-1.5)
Knox
28,161 (-69)
Unemployment
rate
(September
2014)
Number
employed
residents
(September 2014)
4.4% (-1.1)
Delaware
93,198 (-140)
5.1% (-1.3)
Fairfield
71,283 (+165)
3.8% (-2.4)
Franklin
607,878 (+5,788)
5.3% (-2.0)
Licking
80,386 (+106)
5.8% (-0.4)
Madison
18,801 (+66)
5.9% (-1.1)
Morrow
16,109 (-107)
6.0% (-1.9)
Pickaway
23,007 (+91)
4.7% (-1.3)
Union
25,836 (-20)
5.4% (-1.1)
Logan
22,110 (-157)
1,600
1,200
800
400
0
6,000
8/2
8/9
8/16
8/23
8/30
9/6
9/13
9/20
9/27
10/4
10/11
10/18
10/25
11/1
Continuing New
2,843
2,675
2,318
$175k
3,035 2,834
2,349
$179k
New
Listings
In
Contracts
Closed
Sales
Average
Sales
Price
September 2013 September 2014