Monthly Economic Update | June 2013

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Monthly Economic Update | June 2013

  1. 1. MONTHLY ECONOMIC UPDATE 2013 JUNE 2013 columbusregion.com 614-225-6063
  2. 2. JUNE 2013 PERFORMANCE CASE STUDY: COMPASS DATA CENTERS Jobs: 26 created Capital investment: $61.3 million Facilities: Data center 1 COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 PROJECTS JUNE 2013 AND YEAR-TO-DATE NUMBER OF PROJECTS (2013 v. 2012) FIRST-TIME VISITS (2013 v. 2012) JUNE 2013 12 projects started - 120 year to date 4 first time visits 25 11 27 24 20 44 16 30 20 23 28 7 19 25 19 21 24 12 0 10 20 30 40 50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 11 6 6 6 9 4 3 6 6 10 4 22 5 4 4 7 4 0 3 6 9 12 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 Compass Data Centers has committed to building the first of its five planned 21,000 square foot data centers in New Albany. At full completion, the project will include 26 full time jobs and $61.3 million of capital investment. Headquartered in Dallas, Compass Data Centers has existing data centers in Raleigh and Nashville. The company decided to enter the Columbus Region based on potential customer demand. The City of New Albany approved a 65 percent, 7-year property tax abatement to secure the investment.
  3. 3. 2 ATTRACTION PROJECTS: DOMESTIC/INTERNATIONAL ATTRACTION PROJECTS: SUSPECTS AND PROSPECTS ATTRACTION PROJECTS: PROJECTS BY SECTOR ATTRACTION PROJECTS: PROJECTS BY SOURCE COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 ACTIVE PROJECTS AS OF JUNE 30, 2013 TOTAL ACTIVE PROJECTS (132 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 61 14 0 10 20 30 40 50 60 70 80 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. 57% 43% New Existing 88% 9% 3% Columbus 2020 Local ED partners JobsOhio 74% 16% 10% Columbus 2020 Local ED partners JobsOhio 28 4 8 17 0 5 10 15 20 25 30 35 30 10 20 15 0 5 10 15 20 25 30 35 65% 35% Domestic International 86% 14% Domestic International
  4. 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES JUNE 2013 COMPLETED ACTIVITIES JULY 2013 PLANNED ACTIVITIES BUSINESS DEVELOPMENT MISSIONS: Detroit, Northern & Southern California 3 COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 Pittsburgh: The 2020 team attended the 2013 RAPID conference to meet with companies and learn about current trends and developments in the additive and 3D manufacturing industry. New York City: The 2020 team, along with the City of Columbus, participated in the Intelligent Community Forum (ICF) Summit, networking and learning from other Top7 ICF finalists and alumni. Minneapolis: The 2020 team attended the Area Development Consultants Forum to participate in manufacturing-focused economic development sessions and to meet with companies.
  5. 5. JUNE 2013 Performance: 19 Visits in June (191 YTD) Visits conducted by: CASE STUDY: ISS AMERICA CASE STUDY: ZIPLINE LOGISTICS Jobs: 20 created Capital investment: $3 million Facility: Manufacturing Jobs: 40 created Facility: Headquarters 4 COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 BUSINESS RETENTION & EXPANSION | JUNE 2013 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR ISS America, Inc., a manufacturer and distributor of automotive engine components, announced it will invest $3 million in the Columbus Region to expand its existing Bellefontaine facility. The expansion will over the next three years. ISS produces knock pins, dowel pins and joint pipes for automobile engines and transmissions. Opening its Logan County facility in 2010, ISS America serves as a tier-one supplier for Honda. In its decision to expand here, the company cited the Region's strategic location and base of automotive customers. 37% 53% 10% Columbus 2020 only Local ED partner only Both 2020 and LEDO 7 3 2 3 4 0 2 4 6 8 10 6 3 6 4 0 1 2 3 4 5 6 7 Zipline Logistics LLC plans to nearly triple its workforce over the next three years and invest approximately $200,000 in IT equipment and employee training. To accommodate its growth, the company will move from its existing Grandview Heights location to a larger, to-be-determined facility within the Columbus Region. A national transportation firm focused on customer service and using the highest quality carriers, Zipline Logistics has earned national praise, being recognized for the past two consecutive years as -growing private companies in the U.S.
  6. 6. Source: U.S. Patent and Trademark Office 10X PROGRAM 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. BUSINESS CREATION BUSINESS DISSOLUTIONS, SURRENDERS, WITHDRAWALS PATENTS BY REGION INVENTORS & ASSIGNEES NEW BUSINESS REGISTRATION* COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 The 10xelerator program is once again open to applications for entrepreneurs to particate in a mentorship-driven investment program managed by Founders Factory, with support from Columbus 2020 and other community organizations. 10X is an innovative business accelerator focused on maximizing the probability of creating scalable businesses. Since its inception 18 months ago, 10X has helped 27 startup companies, including Acceptd, Acclaimd and Resition. In this round, while 10X remains open to any technology startup, the program will seek to focus on big data, education technology, cybersecurity, and logistics and retail. Applications are due July 14. For more information, go to http://10xelerator.com/. 1,127 1,363 1,319 1,074 500 750 1000 1250 1500 Feb Mar Apr May 199 186 238 191 0 50 100 150 200 250 300 Feb Mar Apr May 98 22 91 18 85 24 99 27 Inventor Assignee Feb Mar Apr May
  7. 7. WORKFORCE 6 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 TRANSPORTATION & INFRASTRUCTURE Ohio earns A's in manufacturing, logistics and global reach Conexus Indiana's 2013 Manufacturing and Logistics National Report gives Ohio top marks for industry health and market access. http://bit.ly/11RE2N1 Columbus no. 7 best city for new college graduates to live Financial literacy website NerdWallet puts Columbus in the top ten based on population ages 18-24, bars per 1,000 residents, walkability, cost of living and unemployment rate. http://bit.ly/11YnuZz Fort Worth has Columbus envy In a pitch to local companies to fund economic development, Fort Worth officials look to Columbus as a model. http://bit.ly/19nkUga Columbus no. 11 military-friendly city Columbus is listed among the top cities in the U.S. based on presence of military-friendly employers and schools, veteran- owned businesses, and low cost of living and unemployment. http://militaryfriendly.com/city For all of the latest news, visit: http://columbusregion.com/news-events-reports/in-the- media Columbus Region Logistics Council job fair On August 8, the Columbus Region Logistics Council and the Columbus Chamber of Commerce, in cooperation with Columbus State Community College, will hold the next semi-annual logistics job fair. The event brings together logistics employers and job seekers, helping to fill industry needs in operations, business development, transportation, warehousing, office administration and other functions. For more information, go to: http://bit.ly/12pJnvc. Rickenbacker adds cargo flights to Hong Kong Luxembourg-based Cargolux Airlines International will start a twice-weekly service from Rickenbacker Airport to Hong Kong with cargo flights on Sundays and Thursdays. This doubles the current number of cargo flights between Rickenbacker and Hong Kong. Kalitta Air, a Michigan-based cargo airline, currently operates two weekly flights on the route. The Columbus Region's fashion industry is a key demand factor for the addition of flights.
  8. 8. Source: Xceligent Source: Columbus Board of Realtors 7 HOUSING SALES $15.43 $2.96 $9.25 Industrial Retail 7.2% 9.9% Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted Source: Ohio Department of Job and Family Services Direct Asking Rent (per sf) Vacancy Rate Use Office 16.1% COMMERCIAL REAL ESTATE (AS OF JULY 3) COLUMBUS 2020 MONTHLY UPDATE | JUNE 2013 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (May 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 4/6/13 TO WEEK ENDING 6/29/13) 7.2% (-0.4) Marion 27,048 (-521) 6.6% (-0.4) Knox 27,710 (+44) Unemployment rate (May 2013) Number employed residents (May 2013) Change from May 2012 to May 2013 4.7% (-0.3) Delaware 90,107 (+502) 5.9% (-0.2) Fairfield 70,448 (+359) 5.8% (-0.4) Franklin 591,314 (+2,808) 6.3% (-0.1) Licking 79,713 (+425) 6.3% (-0.1) Madison 18,864 (+96) 7.4% (+0.0) Morrow 16,121 (+101) 7.1% (-0.1) Pickaway 22,710 (+110) 5.3% (+0.1) Union 25,558 (+136) 6.3% (-0.2) Logan 21,484 (-190) 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 4/6 4/13 4/20 4/27 5/4 5/11 5/18 5/25 6/1 6/8 6/15 6/22 6/29 Continuing New 3,522 3,214 2,170 $167K 4,213 3,927 2,756 $177K New Listings In Contracts Closed Sales Average Sales Price May 2012 May 2013
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