MONTHLY
ECONOMIC
UPDATE
2013

DEC

2013
columbusregion.com

614-225-6063
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

PROJECTS DECEMBER 2013 AND YEAR-TO-DATE
DECEMBER 2013 PERFORMANCE

NUMBER OF...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

ACTIVE PROJECTS AS OF DECEMBER 31, 2013
TOTAL ACTIVE PROJECTS
(116 PROJECTS)...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES
DECEMBER 2013 COMPLETED ACTIVIT...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

BUSINESS RETENTION & EXPANSION | DECEMBER 2013
BUSINESS DEVELOPMENT

VISITS ...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

BUSINESS CREATION
NEW BUSINESS REGISTRATION*

BUSINESS DISSOLUTIONS,
SURREND...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

ECONOMIC DEVELOPMENT NEWS
COLUMBUS IN THE NEWS

WORKFORCE

POLICY & ADVOCACY...
COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013

REGIONAL ECONOMIC DATA
NUMBER EMPLOYED AND UNEMPLOYMENT RATE (November 2013)...
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Monthly Economic Update | December 2013

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The Columbus Region Monthly Economic Update reports on the job growth progress of Columbus 2020 and its local and regional partners. The update also features the successes of SK Food Group locating in the Columbus Region, Moriroku Technology North America expanding in Marysville and The Ohio State University partnering with TechColumbus and Ohio Third Frontier to create the Technology Concept Fund.

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Monthly Economic Update | December 2013

  1. 1. MONTHLY ECONOMIC UPDATE 2013 DEC 2013 columbusregion.com 614-225-6063
  2. 2. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 PROJECTS DECEMBER 2013 AND YEAR-TO-DATE DECEMBER 2013 PERFORMANCE NUMBER OF PROJECTS STARTED (2012 vs. 2013) FIRST-TIME VISITS (2012 vs. 2013) DECEMBER 2013 17 projects started 15 50 44 12 - 215 year in 2013 40 3 first time visits 27 27 24 30 25 25 2120 20 18 - 58 year in 2013 20 30 12 11 18 17 16 13 9 23 15 17 7 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 6 6 5 6 12 10 10 9 28 20 11 3 6 4 4 8 7 5 4 2 3 6 6 5 4 7 44 3 2 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2012 2013 CASE STUDY: SK FOOD GROUP SK Food Group, a Seattle-based food products company, will invest $13 million to establish a food manufacturing facility in the Columbus Region. The company expects to create 253 jobs during the next three years. Jobs: 253 created From its new facility, SK Food Group will prepare, Investment: $13.2 million package and distribute sandwiches and entrées to retail Facilities: Manufacturing, distribution outlets, convenience stores and vending machine companies throughout North America. The company selected the Columbus Region because of its reputation in the manufacturing sector, including food manufacturing, and its strategic location for logistics and distribution. 1
  3. 3. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 ACTIVE PROJECTS AS OF DECEMBER 31, 2013 TOTAL ACTIVE PROJECTS (116 PROJECTS) EXPANSION PROJECTS: PROJECTS BY SOURCE EXPANSION PROJECTS: PROJECTS BY SECTOR EXPANSION PROJECTS: DOMESTIC/INTERNATIONAL 35 30 17% 25 23 13% 19 20 47% 15 19% 53% 64% 7 10 5 5 87% 0 Columbus 2020 New Existing Domestic Local ED partners International JobsOhio ATTRACTION PROJECTS: SUSPECTS AND PROSPECTS ATTRACTION PROJECTS: PROJECTS BY SOURCE ATTRACTION PROJECTS: PROJECTS BY SECTOR ATTRACTION PROJECTS: DOMESTIC/INTERNATIONAL 80 70 60 3% 52 7% 25 40 15 30 10 44% 56% 10 90% 0 5 0 Prospect Suspects = Projects identified and qualified via direct dialogue with the company or consultant representing the company. 11 10 10 Suspect 19 20 50 20 22 Columbus 2020 Local ED partners Domestic International JobsOhio Prospects = Projects qualified, parameters defined and the company or consultant has visited the Region. 2
  4. 4. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES DECEMBER 2013 COMPLETED ACTIVITIES Houston: The 2020 team attended the Reinvesting in American Manufacturing conference, a two day event for global manufacturers making new capital investments in America. Charleston: The 2020 team attended the Area Development Consultants Forum, participating in presentations and discussions on strategy and best practices for the site selection process in 2014. Washington, D.C.: The 2020 team traveled to Washington to continue to build the Columbus Region's Global Trade and Investment Strategy with the Brookings Institution. New York: The 2020 team visited the New York market to hold meetings with consultants and visit the headquarters of an existing Columbus Region company. JANUARY 2014 PLANNED ACTIVITIES New York National Retail Federation Annual Conference BUSINESS DEVELOPMENT MISSIONS: Washington, D.C., Atlanta, Indianapolis 3
  5. 5. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 BUSINESS RETENTION & EXPANSION | DECEMBER 2013 BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION DECEMBER 2013 Performance: VISITS CONDUCTED BY SECTOR 8 8 7 visits in December (381 in 2013) 6 6 5 4 Visits conducted by: 4 4 2 2 29% 1 0 43% 2 1 0 0 Franklin County Local ED partner only 28% 1 Columbus 2020 only Delaware County Licking County Both 2020 and LEDO CASE STUDY: MORIROKU TECHNOLOGY Moriroku Technology North America, an automotive parts manufacturer, will build a new facility in Marysville to accommodate rapid growth of its existing sales operations and serve as its research and development center. The expansion project will add 50 employees to its current Jobs: 50 created Investment: $550,000 Facilities: workforce of 32 in the Columbus Region. Office, R&D The new facility will be located on Industrial Parkway in Marysville and will replace the company's current facility on Allenby Drive. Moriroku decided to stay and expand in Marysville for its proximity to key automotive customers. 4
  6. 6. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 BUSINESS CREATION NEW BUSINESS REGISTRATION* BUSINESS DISSOLUTIONS, SURRENDERS, WITHDRAWALS 95 300 1500 1250 PATENTS BY REGION INVENTORS & ASSIGNEES 1,207 176 200 1,020 962 1000 72 199 1,114 85 83 250 165 151 150 38 39 28 100 20 750 50 500 0 Aug Sep Oct Nov Aug Sep Oct Nov Inventor August 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. September Assignee October November Source: U.S. Patent and Trademark Office CASE STUDY: TECHNOLOGY CONCEPT FUND Innovations with ties to The Ohio State University will get a financial boost from the new Technology Concept Fund, LLC. The million-dollar fund includes investments from OSU and Ohio Third Frontier. TechColumbus and OSU's Technology Commercialization Office are working to identify investment opportunities. TechColumbus will manage the fund. Companies eligible for investment will have a fully executed license or an option to license the technology from OSU and will be clients of TechColumbus. Industry focus includes advanced materials, alternative energy, information technology and life sciences. Successful investments by the Concept Fund will replenish its available capital for future rounds of investment. 5
  7. 7. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 ECONOMIC DEVELOPMENT NEWS COLUMBUS IN THE NEWS WORKFORCE POLICY & ADVOCACY Columbus in top 40 of Best Performing Cities Index Columbus State introduces insurance courses Columbus Chamber hosts government leaders Columbus State Community College has introduced On December 18, the Columbus Chamber, along a new Foundations of Insurance certificate, a six - with other chambers from around Ohio, hosted course program intended to help students gain Governor Kasich, Senate President Faber and entry-level positions in the Columbus Region's Speaker of the House Batchelder for their annual insurance industry. Year in Review event. The American Institute for Economic Research ranks The program also addresses a critical need for The three leaders came together to discuss the Columbus No. 10 among mid-size metros in the U.S. employers. According to Columbus State, 17,000 http://bit.ly/1c8Nuka jobs will open up in Ohio's insurance industry over store for next year. More than 150 business leaders the next five years as companies grow and workers had the opportunity to ask questions and give retire. feedback on the economic climate in Ohio. Foundations of Insurance is part of Columbus On the same day, the Columbus Chamber State's larger efforts in partnering with the insurance facilitated a discussion with U.S. Representative industry to raise awareness of career opportunities Joyce Beatty. The small gathering gave Chamber through the Insuring Ohio Futures program. members the chance to discuss with Rep. Beatty Based on job, wage and high-tech growth, Columbus ranked No. 37 among 200 metro areas in the Milken Institute's annual Best Performing Cities index, up 16 spots from 2012. http://bit.ly/18hjRC1 Columbus ranked a top 10 metro for college students Columbus ranked No. 3 happiest city in America based on Instagram analysis Startup company Jetpac analyzed millions of Instagram photos to determine how happy people appeared. http://read.bi/1bjJcKw business issues on the federal level. For all of the latest news, visit: http://columbusregion.com/Media-center/RecentNews.aspx 6
  8. 8. COLUMBUS 2020 MONTHLY UPDATE | DECEMBER 2013 REGIONAL ECONOMIC DATA NUMBER EMPLOYED AND UNEMPLOYMENT RATE (November 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS (WEEK ENDING 10/5/13 TO WEEK ENDING 12/28/13) Continuing 7.0% (+1.0) Madison 18,656 (-102) 6.4% (+0.8) Franklin 586,557 (-2,724) 7.8% (+0.7) Pickaway 22,482 (-112) 1,400 12,000 1,200 11,000 1,000 7.2% (+1.1) Licking 79,224 (-502) 6.8% (+0.8) Fairfield 70,187 (-394) 12/28 12/21 12/14 12/7 0 11/30 200 11/23 400 7,000 11/16 600 8,000 11/9 800 9,000 6,000 7.0% (+1.0) Knox 27,608 (-460) 11/2 10,000 10/26 5.7% (+0.3) Union 25,774 (-165) 5.4% (+0.7) Delaware 91,366 (-632) 1,600 13,000 7.0% (+0.4) Morrow 16,129 (-133) 1,800 14,000 10/19 8.0% (+0.8) Marion 26,698 (-788) 2,000 15,000 6.6% (+0.5) Logan 21,616 (-133) Number employed residents (Nov 2013) New 16,000 10/12 Change from Nov 2012 to Nov 2013 10/5 Unemployment rate (Nov 2013) Source: Ohio Department of Job and Family Services COMMERCIAL REAL ESTATE (AS OF DECEMBER 31) Vacancy Rate Direct Asking Rent (per sf) Office 15.0% 7.2% $3.74 Retail 9.1% $9.33 $165K $170K $15.85 Industrial HOUSING SALES Use 2,297 2,291 2,208 2,021 2,065 1,812 Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted New Listings In Contracts Nov 2012 Source: Xceligent Closed Sales Average Sales Price Nov 2013 Source: Columbus Board of Realtors 7

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