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April 2012 Monthly Report


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Our April 2012 Monthly Report. Read about what happened in the Columbus Region in April, and all of our latest economic development news!

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April 2012 Monthly Report

  1. 1. Columbus 2020 Monthly Report | April 2012The Columbus 2020 April 2012 report covers the economic development activities and relatedinformation and data through the month of April.Business Attraction | April 2012 PerformanceBusiness Development Case Study: Closed Loop Refining & Recovery April 2012 Performance: 14 Projects (78 YTD) 5 First Time Visits (30 YTD) Projects entered into Salesforce by month Columbus 2020 has started 78 projects year to date, compared to 55 through April in 2011. In June, Phoenix-based Closed Loop Refining & Recovery Inc. will begin making improvements to a30 27 275,000-square-foot facility in southeast Columbus. 25 Closed Loop plans to open the facility in25 September. The facility is expected to create 55 full- 1920 17 18 16 time jobs, with $2 million invested in building 14 improvements and equipment purchases.15 12 13 11 11 12 10 Closed Loop selected the Columbus Region over 9 9 910 Kentucky, Pennsylvania, Tennessee and other areas 5 due to its market access, cost and quality of labor, favorable tax climate and logistics infrastructure. 0 Columbus will be the companys second U.S. plant Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec and serve as its Midwest hub. 2011 2012April 2012 Report 1
  2. 2. Active Projects | As of April 30, 2012Total Active Projects (98 projects) Attraction Projects: Suspects and Prospects 50 Suspects = Projects that 42 have been identified and 40 qualified via direct dialogue 40% with the company or 30 consultant representing the New Existing 17 company. 60% 20 Prospects = Projects that 10 have been qualified, parameters defined and the 0 company or consultant has Suspect Prospect visited the region.Expansion Projects: Projects by Source Attraction Projects: Projects by Source 7% 18% Columbus 2020 Columbus 2020 10% Local ED partners Local ED partners 72% JobsOhio JobsOhio 93%Expansion Projects: Projects by Industry Attraction Projects: Projects by Industry 20 30 16 24 14 25 15 19 20 10 15 11 6 5 3 10 5 5 0 0Major Project Announcements in April Attraction Projects: Domestic/International Jobs /Company Description Capital New precision navigationBoeing (Heath) $4M facility for the Navy 36% DomesticHFI LLC (Canal Retention and expansion of 205 jobs InternationalWinchester) Honda supplier 64% Expansion of transmissionsHonda Transmission production for Accord and 100 jobs(Russells Point) Acura Business website raises new $44M(Columbus) capital for growthApril 2012 Report 2
  3. 3. Business Attraction | Development ActivitiesApril 2012 Completed Activities Atlanta The 2020 team visited Atlanta and participated in the Area Development Consultants Forum, meeting with area consultants and companies. Houston The 2020 team attended the Offshore Technology Conference, one of the worlds largest events in the oil and gas industry, and met with dozens of prospective companies. Austin The 2020 team attended the Spring 2012 IAMC Forum to network with corporate real estate executives and location advisors. Orlando The 2020 team attended the 2012 International Plastics Exposition with JobsOhio and Polymer Ohio to meet with growing companies in the plastics industry. Germany In Germany, the 2020 team spent three days at the Hanover Messe fair visiting companies from around the world with an interest in locating a facility in the U.S., as well as companies with existing facilities in the Columbus Region.May - July 2012 Planned Activities Boston Bio International New York IMN Data Center Forum, Metro NY ED Chicago Black Enterprise Conf. & 3PL Summit Internet Retailer Conference Las Vegas Cosmoprof Personal Care & Beauty Conf. Business Development Missions: New York, Cleveland, Pittsburgh, St. Louis International Activities BioMed Israel with BioOhio, Columbus 2020 Toronto MissionApril 2012 Report 3
  4. 4. Business Retention & Expansion | April 2012Business Development Case Study: Quantum Health April 2012 Performance: 45 Visits in April (199 YTD) 26 by 2020 staff and 19 reported by local economic development partners Quantum Health, Inc. announced that it will expand its Columbus facility, investing more than 42% Columbus 2020 $3 million and adding 525 jobs to the company’s existing 230 employees in the region. The positions Local ED partners 58% will include Registered Nurses and Patient Service Representatives (PSRs), as well as information technology, marketing, customer engagement and other support positions. Founded in Columbus in 1999, Quantum Health isVisits Conducted by Location an award-winning care management and health improvement company serving approximately 30 300,000 members at 75 public and private sector 25 19 organizations across the U.S. Its real-time “virtual 20 medical home” concept saves employers 5-8% in 15 10 healthcare costs without reducing health benefits. 10 5 3 3 3 2 5 0 Case Study: Oxford Consulting Group Westerville-based IT consulting firm Oxford Consulting Group, Inc. announced that it will add more than 45 jobs to the company’s existing 55Visits Conducted by Industry positions based in the Columbus Region over the next three years. Oxford currently has a workforce 30 of nearly 200 nationwide. The company chose to 24 expand its Ohio presence over locations in 25 California, Georgia, and Canada, citing incentives 20 14 and its proximity to skilled workforce as 15 determining factors. 10 4 Oxford Consulting Group provides information 5 3 technology solutions and consulting services to 0 businesses across the U.S. and Canada. Through a strategic alliance with IBM, Oxford has developed and delivered B2B Integration and Commerce solutions for hundreds of Global 2000 and midmarket companies.April 2012 Report 4
  5. 5. Business CreationNew Business Registrations* Business Dissolutions, Surrenders, Withdrawals* 1500 1,392 350 312 332 300 1250 1,178 1,202 250 204 1,029 195 200 1000 150 750 100 50 500 0 Dec Jan Feb Mar Dec Jan Feb MarSource: Ohio Secretary of State*Note: Registrations are only an indicator of business formation and do not represent actual new businesses. For example, a registration maybe filed to reserve a business name or for other reasons in advance of a potential business. Dissolutions, surrenders and withdrawals do notinclude mergers, consolidations, reinstatements and other changes that may lead to a loss of a business. In addition, not all businesses thatclose make a filing.Patents by Region Inventors & Assignees Case Study: One Exchange Street 65 63 64 57 30 19 21 19 On April 12, TechColumbus announced its Inventor Assignee commitment to invest $300,000 from its Pre-Seed Fund into One Exchange Street, Inc., an early stage Dec Jan Feb Mar technology company that offers an onlineSource: U.S. Patent and Trademark Office exchange for trading bankruptcy claims. The exchange will introduce transparency and real-time prices and trading in an aggregated marketplace. The Pre-Seed investment is part of a larger capital infusion that has enabled One Exchange Street to commence development of its trading platform and begin promoting its services to market participants in anticipation of the company’s launch in May. The company is a graduate of the most recent class of companies to complete the 10x New Venture Accelerator program at The Ohio State University, where it received ten weeks of business mentoring along with a $20,000 grant from the State of Ohio’s New Entrepreneurs Fund.April 2012 Report 5
  6. 6. Economic Development NewsColumbus In the News Legislation and AdvocacyColumbus 2020 and Ohio ED recognized JobsOhio II. The Ohio legislature is consideringSite Selection magazine gives 2020 honorable solidifying JobsOhio as the primary independentmention and ranks Ohio 3rd for competitiveness. entity in charge of the states economic development (Senate Bill No. 314, House Bill No.Columbus attractive for small business 489). The JobsOhio II bill provides further clarity toAnalysis ranks Columbus no. 4 in small business both JobsOhio and the Ohio Department ofclimate among Midwest markets. Development, including matters of organizational structure and roles, finances, and state commission responsbilities. Kenny McDonald recently testifiedFirst Customer links more startups to buyers on behalf of Columbus 2020.FC program has connected local medical startupsLinebacker, Nanofiber Solutions and others to Mid-Biennium Review Education & Workforcemajor hospitals. Plan. Senate Bill 316 proposes revisions to numerous state education and workforceWorkforce development policies, programs and procedures. In particular, the bill seeks to provide educators,The Columbus Chamber recently assisted Ariel parents, and the public a clearer and moreCorporation, a family-owned company that designs accurate understanding of how well Ohio’s schoolsand produces gas compressors. Ariel is hiring for are doing in preparing students for college and thepositions ranging from engineers and graphic workforce.designers to maintenance technicians and CNC Andrea Applegate, the Columbus Chambersmachinists. However, the company has Director of Workforce, testified to the Senateexperienced some difficulty finding qualified Education Committee. Her comments focused oncandidates in their local geography. The Chamber’s the workforce-related elements of the bill,workforce department connected Ariel to an especially the importance of accurate informationextended network of individuals and organizations on workforce needs and having an effectivethat provide support to job seekers, including workforce system to service business career services offices across the ColumbusRegion.Columbus Big BoardThe Big Board comprises 50 publiclytraded companies in the ColumbusRegion including: Fortune 1000companies that have headquarters ora major presence, major foreigncompanies and members of TheColumbus Partnership. The price ofeach companys stock is weightedequally in value at the start of thequarter, as calculated by GoogleFinance. In March and April of 2012,the Big Board continued tooutperform the Dow Jones IndustrialAverage.April 2012 Report 6
  7. 7. Regional Economic Data Regional Employment Number employed and unemployment rates Number of weekly unemployment claims Change from March 2012 Week ending 2/4/12 to week ending 4/28/12 Mar2011 toUnemployment Mar 2012 rate 8.5% (-1.4) Continuing New (Mar 2012) Marion 7.9% (-2.3) Morrow 19,000 1,800 27,029 (-662) 16,144 (-30) 18,000 1,600 7.2% (-1.5) 7.3% (-2.3) 5.5% (-2.0) Knox Logan Union 17,000 1,400 5.2% (-1.0) 27,159 (-452) 20,966 (-541) 25,485 (+1,783) Delaware 16,000 1,200 87,231 (+2,524) 15,000 1,000 Number 6.8% (-1.5) employed 6.8% (-1.0) Licking 14,000 800 residents 7.2% (-1.4) Franklin 79,580 (+3,961) (Mar 2012) 579,944 (+1,061) 13,000 600 Madison 18,802 (+258) 12,000 400 6.2% (-1.6) 8.3% (-1.7) Fairfield 11,000 200 Pickaway 69,556 (+638) 22,472 (+204) 10,000 0 2/4 3/3 4/7 2/11 2/18 2/25 3/10 3/17 3/24 3/31 4/14 4/21 4/28 Source: U.S. Bureau of Labor Statistics, Local Area Source: Ohio Department of Job and Family Services Unemployment Statistic, Seasonally Adjusted Commercial Real Estate (as of May 1) Housing Sales Vacancy Direct Asking Use Rate Rent (per sf) 3,869 3,466 Office 16.3% $14.97 2,705 $144K $154K Industrial 9.5% $3.16 1,839 1,558 1,653 Retail 10.6% $10.38 Source: Xceligent New Listings In Contracts Closed Sales Average Sales Price Mar 2011 Mar 2012 Source: Columbus Board of Realtors April 2012 Report 7