Monthly Economic Update | September 2013

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Monthly Economic Update | September 2013

  1. 1. MONTHLY ECONOMIC UPDATE 2013 SEPT 2013 columbusregion.com 614-225-6063
  2. 2. SEPTEMBER 2013 PERFORMANCE CASE STUDY: PERSISTENT SYSTEMS, INC. Jobs: 30 created Payroll: Facilities: Office 1 $1.9 million COLUMBUS 2020 MONTHLY UPDATE | SEPTEMBER 2013 PROJECTS SEPTEMBER 2013 AND YEAR-TO-DATE NUMBER OF PROJECTS STARTED (2013 v. 2012) FIRST-TIME VISITS (2013 v. 2012) SEPTEMBER 2013 15 projects started - 174 year to date 4 first time visits 25 11 27 24 20 44 16 30 20 23 28 7 19 25 19 21 27 13 18 17 15 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 5 8 5 4 0 3 6 9 12 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 India-based software company, Persistent Systems, will open an office of 30 workers, with the potential to hire more depending on sales growth. Staff will include software developers, data scientists and other IT experts. The average salary is anticipated to exceed $60,000 per year. The company chose the Columbus Region for its workforce and concentration of colleges and universities. The new office will be located in the Tuttle Crossing area of Dublin, close to IBM's analytics center and to Cardinal Health, a major client. The Dublin office will focus mainly on data management and analytics.
  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 | SEPTEMBER 2013 ACTIVE PROJECTS AS OF SEPTEMBER 30, 2013 TOTAL ACTIVE PROJECTS (128 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 56 13 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. 54% 46% New Existing 89% 7% 4% Columbus 2020 Local ED partners JobsOhio 68% 15% 17% Columbus 2020 Local ED partners JobsOhio 29 6 17 7 0 5 10 15 20 25 30 35 28 14 18 9 0 5 10 15 20 25 30 67% 33% Domestic International 86% 14% Domestic International
  4. 4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES SEPTEMBER 2013 COMPLETED ACTIVITIES OCTOBER 2013 PLANNED ACTIVITIES Los Angeles Buffalo Silicon Beach Investor Conference Bright Venture Forum Las Vegas Philadelphia CBRE Summit IEDC Conference Chicago Washington DC Women in Economic Development SelectUSA Summit Cleveland Medical Innovation Conference BUSINESS DEVELOPMENT MISSIONS: New York INTERNATIONAL ACTIVITIES: Columbus 2020 Toronto Mission 3 COLUMBUS 2020 MONTHLY UPDATE | SEPTEMBER 2013 San Francisco: The 2020 team traveled to the Bay Area to participate in meetings with several prominent companies in the information technology sector. Portland: The 2020 team attended the SSTI's annual conference and participated in sessions focused on how economic growth occurs through science, technology, and the innovation ecosystem. Los Angeles: The 2020 team visited Santa Monica to meet with companies and an investment bank. Salt Lake City: The 2020 team attended the Industrial Asset Management Council's Fall Professional Forum to participate in sessions and network with the industrial real estate community. Houston: The 2020 team traveled to Houston to meet with company heads of digital and direct marketing to discuss Columbus-based apps and technology solutions. Chicago: The 2020 team participated in consultant meetings for an active project in the Columbus Region. Japan: The 2020 team, along with several local economic development practitioners and elected officials, conducted a two week mission to Japan, meeting with more than 40 companies and attending the Midwest US-Japan Association Annual Meeting.
  5. 5. SEPTEMBER 2013 Performance: 53 Visits in September (321 YTD) Visits conducted by: CASE STUDY: AMERICAN HOWA Jobs: 60 created Capital investment: Facility: Manufacturing 4 $4.3 million COLUMBUS 2020 MONTHLY UPDATE | SEPTEMBER 2013 BUSINESS RETENTION & EXPANSION | SEPTEMBER 2013 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR American Howa, a Honda supplier, will add 60 jobs to its existing base of 76 jobs in the City of Delaware. The expansion will also result in $1.8 million in additional annual payroll and $4.3 million in capital investment. American Howa initially located to the Columbus Region in 2012, opening a roof liner production plant in Delaware's industrial area on Route 42 and London Road to supply Honda's Marysville operations. The expansion will allow the company to produce roof liners and other interior parts for Honda operations in Indiana and Canada. 72% 15% 13% Columbus 2020 only Local ED partner only Both 2020 and LEDO 20 5 3 3 7 15 0 5 10 15 20 25 14 9 24 6 0 5 10 15 20 25
  6. 6. Source: U.S. Patent and Trademark Office CASE STUDY: UPDOX LLC Jobs: 25 created Payroll: Facility: Office 5 $2.8 million 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 | SEPTEMBER 2013 Dublin-based startup Updox will add 25 jobs as it begins to commercialize its healthcare software products and services. Updox provides secure communications platforms for sharing medical record information. The company is planning to expand from early stage development to manage the growth of business for inside sales and product managment. Their customers include hospitals, other medical practices and labs, and service providers for electronic health records, medical billing and practice management. 1,074 1,114 1,140 1,114 500 750 1000 1250 1500 May Jun Jul Aug 191 180 170 199 0 50 100 150 200 250 300 May Jun Jul Aug 99 27 80 20 84 30 83 28 Inventor Assignee May June July August
  7. 7. POLICY & ADVOCACY 6 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS COLUMBUS 2020 MONTHLY UPDATE | SEPTEMBER 2013 TRANSPORTATION & INFRASTRUCTURE Columbus Region growth passes 50,000-job milestone Since the Columbus 2020 regional growth strategy launched three years ago, the Region has added 58,000 net new jobs. http://bit.ly/1eHFqOH Ohio among top states for doing business Site selection consultants surveyed by Area Development rank Ohio in the top 10 for both Overall Labor Climate and Overall Infrastructure and Global Access. http://bit.ly/165okUI OSU and Kenyon lead Region in U.S. college rankings U.S. News & World Reports ranks The Ohio State University no. 16 among public universities. Kenyon College, Denison University and Ohio Wesleyan University rank among the nation's top 100 liberal arts colleges. http://bit.ly/17ZzkV For all of the latest news, visit: http://columbusregion.com/news-events-reports/in-the- media Municipal Tax Uniformity The Columbus Chamber and the Municipal Income Tax Uniformity Coalition met with state legislators to discuss the importance of bringing House Bill 5 to a vote in committee and ultimately on the House floor. The Coalition has worked on this issue for the last 18 months and is pushing for reforms that will reduce administrative burdens on businesses that are providing goods or services to multiple jurisdictions in Ohio. If you would like to connect with your legislator regarding this issue, please contact Nicole Piscitani at nicole_piscitani@columbus.org. TRAC approves key road projects in Region On September 25, the state's Transportation Review Advisory Council voted to fund $2.9 billion for major projects across Ohio, including more than a dozen in the Columbus Region. The funding accelerates some projects by as much as 12 years. Projects in the Region supported by the TRAC funding include: - I-270/SR 33 interchange redesign in Dublin - New interchange at SR 33 and Winchester Road north of the Lancaster bypass - Next phases of the I-70/I-71 redesign - Upgrades of the I-270 interchanges with SR 315 and SR 23.
  8. 8. Source: Ohio Labor Market Information, Not Seasonally Adjusted Source: Xceligent Source: Columbus Board of Realtors 7 Note: Columbus 2020 normally uses and seasonally adjusts data from the U.S. Bureau of Labor Statistics. Due to the current suspension of federal government services, this month's report uses Ohio LMI data. $2.99 $9.89 Industrial Retail 6.6% 9.5% Source: Ohio Department of Job and Family Services Direct Asking Rent (per sf) Vacancy Rate Use Office 15.0% COMMERCIAL REAL ESTATE (AS OF SEPTEMBER 30) HOUSING SALES $15.46 COLUMBUS 2020 MONTHLY UPDATE | SEPTEMBER 2013 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (August 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 7/6/13 TO WEEK ENDING 9/28/13) 7.4% (+0.0) Marion 26,900 (-800) 6.5% (+0.1) Knox 27,900 (-300) Unemployment rate (Aug 2013) Number employed residents (Aug 2013) Change from Aug 2012 to Aug 2013 5.1% (+0.2) Delaware 92,100 (+900) 5.9% (-0.1) Fairfield 71,400 (+700) 6.1% (+0.0) Franklin 597,600 (+5,500) 6.6% (+0.5) Licking 80,700 (+800) 6.4% (+0.0) Madison 19,000 (+100) 6.4% (+0.0) Morrow 16,400 (+200) 7.1% (+0.0) Pickaway 22,900 (+200) 5.5% (+0.1) Union 26,600 (+200) 6.2% (-0.2) Logan 21,800 (-100) 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 7/6 7/13 7/20 7/27 8/3 8/10 8/17 8/24 8/31 9/7 9/14 9/21 9/28 Continuing New 3,114 2,978 2,456 $177K 3,343 3,253 2,729 $182K New Listings In Contracts Closed Sales Average Sales Price Aug 2012 Aug 2013

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