Cleveland Plus Business Brochure


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Cleveland Plus Business Brochure

  1. 1. 16 counties 2 million talented workers $170 billion GRP It all adds up for business. cleveland plus
  2. 2. Ashtabula Lake Cleveland Geauga dynamic and diverse economy dynamic and diverse economy Cuyahoga Trumbull Lorain corporate-friendly tax structure Summit Portage Youngstown Medina Akron Mahoning low cost low cost of living Ashland Wayne Columbiana Canton Richland Stark Carroll When you add a rich heritage, plus an innovative spirit, plus a dynamic and diverse economy together with genuine people ready to get the job done, it all Canada adds up to Cleveland Plus™—one region that’s the right choice for business. From Toronto a corporate-friendly tax structure to a *300 mi low cost of living, the Cleveland Plus Detroit region features amenities and resources *180 mi Chicago New York City that add up to a smart business decision. *350 mi *450 mi Washington, D.C. *350 mi United States easy access easy access to U.S. and Canadian markets Atlanta *700 mi * Distance from Cleveland Plus 3
  3. 3. HEALTHY BUSINESS PROFILE + 2 million talented workers + significant ongoing investment more than 160,000 businesses er 160,000 businesses COMPANY: “As we have grown our business globally, Timken equals exponential opportunities The Timken Company has been proud to call Northeast Ohio home. equals exponential opportunities LOCATION: The consistent combination of a talented Canton, OH workforce, a commitment to innovation and INDUSTRY: a rewarding lifestyle make Northeast Ohio the Northeast Ohio’s economy is diverse and growing. Building from our proud and profitable heritage in Friction management and manufacturing, today our core expertise and opportunities include— place to turn for great business opportunities.” power transmission Biomedical: We are a leader in clinical trials and research commercialization with more than 60 hospitals, including the Cleveland Clinic, 450 bio companies with 230,000 employees, and medical and NUMBER OF EMPLOYEES: Tim Timken pharma education. 20 percent of all clinical studies conducted in the U.S. are done in Ohio. Chairman 25,000 Medical Devices: Close proximity to significant customers, suppliers and leading-edge research, coupled with a skilled manufacturing workforce makes this a prime growth sector. Professional Services (IT, Data and Call Center): A 100 percent fiber network means rapid design integration, and rich opportunity for data centers and back-office operations. The Cleveland Plus™ region has the Polymers: An international polymer hub, Northeast Ohio offers the top polymer science programs in the 7th largest concentration of Fortune 500 companies in the U.S., including— U.S., the nation’s highest concentration of polymer R&D and the largest concentration of plastics and Natural Rscs & Mining rubber product producers, machines and materials in North America. Construction $1.3 $5.2 Financial Services: Northeast Ohio is home to a Federal Reserve Bank, and is one of only three U.S. cities Other Services with more than one Money Center Bank headquarters. $3.4 Government Advanced Manufacturing: 61 percent of Northeast Ohio’s manufacturing sectors have outperformed Leisure & Hospitality $15.4 the U.S. average in these same sectors. $4.7 Aerospace: With the only NASA center in the northern U.S. along with top aerospace companies, the region is rich in technological, engineering, metalworking and advanced manufacturing capabilities. Manufacturing Advanced Energies: $37.5 Edu & Hlth Services Fuel Cell Expertise: Stark State Fuel Cell Prototyping Center and Wright Fuel Cell Group make $14.6 the region a hub for fuel cell research, development and production. Wind Potential: A recent Renewable Energy Policy Project study ranked Ohio 2nd among the 50 states in wind component manufacturing potential because of our region’s supply chain. Prof & Bus Services Our flat land and immense offshore potential with Lake Erie offers wind generation opportunity. $19.4 Our diversified economy is leading to growth in output and opportunity. In addition to these core industries, Trade, Trans, & Utils ® Northeast Ohio is home to 300 foreign-owned businesses, and to some of the nation’s largest law firms. The $31.9 region is a hub for food processing, where major brands such as Smucker’s, Nestlé, and Pierre Foods operate. Financial Activities In 2006, Ohio was recognized by Site Selection magazine as #1 for new and expanded business facilities. $32.4 Between 2003 and 2006, Cleveland Plus™ has seen more than 650 attraction and expansion projects, creating tens of thousands of new jobs and generating close to $4 billion in investment. Expansions include— • TeleTech Holdings, Inc. • Infocision Management Corp. • Progressive Insurance • FirstEnergy • Rolls-Royce • Ben Venue Laboratories • FedEx • Sterling Jewelers, Inc. Information Northeast Ohio: 2007 GRP by Industry Group $5.9 The Cleveland Plus gross regional product is more than $170 billion. Billions (2006 Dollars) Annually, Northeast Ohio attracts $450 million in technology and biomedical venture investment—the most in the Midwest. 4 5
  4. 4. BUSINESS-FRIENDLY CLIMATE COMPANY: “From our headquarters in Ohio, Invacare + business-friendly + bus Invacare Corporation has become the world leader in home attractive incentives tax structure LOCATION: medical products. The state’s new tax Elyria, OH attractive incentives laws will help us continue to grow.” INDUSTRY: Medical Equipment equals a better bottom line A. Malachi Mixon, III equals a bette NUMBER OF EMPLOYEES: Chairman and CEO 6,000 In the Cleveland Plus™ region, you get big city advantages without big city costs. Tax Incentives • Ohio Job Creation Tax Credit • Ohio Job Retention Tax Credit Ohio’s new tax model promises a reduction in tax burden of up to 63 percent. • Ohio Research and Development Investment Tax Credit The new tax reform— • Ohio Investment In Training Tax Credit • Phases out corporate income tax • Ohio Manufacturing Machinery & Equipment Investment Tax Credit • Eliminates tax on inventory, equipment and machinery investments • Technology Investment Tax Credit • Lowers personal income tax, reduced by 21 percent • Research and Development Sales Tax Exemption • Exempts sales outside the state from taxation • Manufacturing Machinery and Equipment Sales Tax Exemption • Exempts the first $1 million in annual gross receipts • Warehouse Machinery and Equipment Tax Exemption • Warehouse Inventory Tax Exemption • Enterprise Zones and Community Reinvestment Areas Ohio Tax Reform Grants Impact on Recent $150 Million Project • Wright Centers of Innovation • Ohio Third Frontier Program $6,000 • Brownfield Redevelopment Program $5,000 Port Authorities Real Property Tangible Personal Property 19 port authorities in the Cleveland Plus region offering: $4,000 State Corporate Franchise Tax • Fixed-rate financing programs State Commercial Activity Tax • Off-balance-sheet financing and leasing programs $3,000 • Infrastructure financing programs • Foreign trade zones $2,000 The new tax reform makes Ohio have the lowest taxes in the Midwest. $1,000 Northeast Ohio’s economic output is the 12th largest in the U.S. and ranks in the $0 top 50 worldwide. After Tax Reform Before Tax Reform Ohio’s tax reform generates substantial tax savings. 6 7
  5. 5. ROBUST TRANSPORTATION INFRASTRUCTURE + 33 Class I railroads airports international airports + Class I railroads + 2 international + 2 + “The area’s competitive business environment, 6 deepwater ports COMPANY: 5 interstate highways service focus and strong technical support TeleTech Holdings, Inc. skills make them a natural partner for TeleTech. LOCATION: Our global sourcing model supports multinational Amherst, OH uals fast-paced, low-cost logistics clients seeking various levels of business process equals fast-paced, low-cost logistics INDUSTRY: outsourcing support, allowing them to expand Professional Services and diversify in markets all over the world.” NUMBER OF EMPLOYEES: *The Lorain County facility is the first North American TeleTech 800 regionally operation to be opened in four years. 50,000 worldwide Northeast Ohio features one of the nation’s best logistics infrastructures. And the region reaches the largest number of consumers within a 250-mile radius of any metro market in the U.S. So no matter where business Brian Delaney gets done, Cleveland Plus™ will get you there faster and more efficiently. Executive Vice President of Global Service Delivery 2 airports keep costs competitive and add convenience • Cleveland Hopkins International Airport -400 flights daily to over 80 destinations Cleveland Plus™ Transportation -Major hub for Continental Airlines • Akron-Canton Airport -Second fastest growing U.S. airport 3 foreign trade zones keep businesses competitive in the global marketplace • FTZ 181 largest in U.S. • Ranked 2nd in employment • Ranked 3rd in exports • Ranked 12th in companies 2 intermodal terminals for fast, efficient shipping • CSX Intermodal Terminal • Neomodal Intermodal Terminal 2 international waterway connections • Lake Erie and St. Lawrence Seaway • Ohio-Mississippi River System Northeast Ohio features one of the nation’s best infrastructures according to Logistics Today magazine. Columbiana County features direct access to the Ohio River, which accounts for over one-third of the maritime cargo moving inland in the United States each year—more cargo per year than the Panama Canal. 8 9
  6. 6. TALENTED, DEDICATED WORKFORCE 27 universities universities2 ++ million tale COMPANY: “The Cleveland-Akron area affords us Aleris International, Inc. 2 million talented workers equals a smar 29 colleges and access to a sophisticated financial LOCATION: Beachwood, OH and professional community, as well equals a smart, INDUSTRY: as a high-quality workforce.” Aluminum Manufacturing productive workforce NUMBER OF EMPLOYEES: Steven J. Demetriou 6,000 Chairman and Chief Executive Officer Northeast Ohio features an educated talent base with degrees and Ph.D.s from world-renowned colleges Colleges and universities located in and universities offering nationally ranked programs. the Cleveland Plus™ region— University of Akron • 26,000 degrees awarded annually Ashland University • 175,000 degree-seeking students Baldwin-Wallace College Colleges and Universities • 28,000 faculty and staff Bryant & Stratton College • Case Western Reserve Weatherhead School of Management is ranked the world’s best place Case Western Reserve University to study organizational behavior Cleveland Institute of Art Cleveland Institute of Music • University of Akron Polymer Science and Polymer Engineering Program is ranked the #2 Cleveland State University polymer science program in the country Cuyahoga Community College • Oberlin College boasts the highest rate of graduates to earn Ph.D.s Hiram College ITT Educational Services, Inc. John Carroll University Natural Rscs & Mining Kent State University Construction 1% Lake Erie College Total Employment by NAICS Industry Group (2007) 4% Lakeland Community College Lorain County Community The Cleveland Plus™ workforce is comprised College District of genuine people with an innovative spirit, Malone College Government Other Services willing to roll up their sleeves and get the Mount Union College 14% 4% Myers University job done. Manufacturing Northeastern Ohio Universities 15% Colleges of Medicine Northeast Ohio features one of the world’s Notre Dame College of Ohio largest financial sectors and one of the Leisure & Hospitality Oberlin College nation’s largest legal communities, along 9% Siegal College of Judaic Studies Trade, Trans, & Utils with growing professional and technical Stark State College of Technology 18% services, skilled laborers and a diverse, Ursuline College Edu & Hlth Services multilingual talent base. Our extensive Virginia Marti College 15% Walsh University background in advanced manufacturing, The College of Wooster innovative research and design, Youngstown State University engineering and maximized productivity is an ideal combination for growth. Plus, you’re only a short drive away Information 2% from other esteemed universities— University of Cincinnati Prof & Bus Services Financial Activities University of Michigan 12% 6% The Ohio State University University of Pittsburgh 10 11
  7. 7. 3 major sports teams + world-renowned arts, culture and health care UNEQUALED QUALITY OF LIFE + a low cost of living equals a rich, “The quality of life offered by Northeast Ohio COMPANY: couldn’t be better for our employees. Housing is Ben Venue Laboratories, Inc. 3 major league sports teams very affordable with many different community + world-renowned arts, culture and health care LOCATION: yet affordable, lifestyle options. The region supports the arts, history, Bedford, OH + a low cost of living culture, entertainment, sports and so much INDUSTRY: more, giving many choices to our employees.” Pharmaceutical Manufacturing equals a rich, Thomas J. Murphy NUMBER OF EMPLOYEES: President and COO 1,118 yet affordable, lifestyle Plus, there’s something for everyone— It all adds up to a unique quality of life in Northeast Ohio. • Average commute is 24 minutes Attractions The Arts • 120 ethnic communities • Median home sale price is $138,500 Alpine Valley Ski Resort Akron Art Museum • U.S.News and World Report top-ranked hospitals, including Cleveland Clinic, University Hospitals Amish Country Akron Symphony Case Medical Center and Rainbow Babies & Children’s Hospital and Summa Health System; Blossom Music Center The Butler Institute of American Art also known for Akron General Medical Center and Akron Children’s Hospital Boston Mills/Brandywine Ski Resort Canton Symphony Cedar Point Cleveland Museum of Art Plus, our region features professional networks and human capital development that connect civic-minded Cuyahoga Valley National Park Cleveland Museum of Natural History individuals with business and community enhancement opportunities. Firestone Country Club Cleveland Orchestra • Regional leadership opportunities for the emerging, current and experienced professional Lake Erie Stan Hywett Hall and Garden • Professionals of all ages and experience levels can engage in and lead community groups National Inventors Hall of Fame Youngstown Symphony Orchestra • One of the nation’s most philanthropic communities Pro Football Hall of Fame • More than 25 young professional groups Rock and Roll Hall of Fame and Museum Thistledown Thoroughbred Racing Wine Country Cost of living is 12–20% below the national average. Events Professional Sports Cleveland was ranked the most livable city in the U.S. in 2005 by The Economist. Cleveland Grand Prix Akron Aeros Second largest performing arts center in the country behind Lincoln Center in New Cleveland National Air Show Cleveland Browns York City. Ingenuity Fest Cleveland Cavaliers National City Home and Garden Show Cleveland Indians The Cleveland Orchestra is ranked one of the top 3 orchestras in the world. Pro Football Hall of Fame Festival Lake County Captains Lake Erie Monsters RTA public transportation voted the best in the U.S. in 2007. 12 13
  8. 8. Bienvenue Welcome Willkommen Bienvenido 14 Cert no. SW-COC-002546
  9. 9. cleveland plus