The Cincinnati metro continued its steady expansion by recently adding 14,400 payrolls, year-over-year, bringing total non-farm employment to 1.04 million. Meanwhile, unemployment fell 1.2 percent to 4.8 percent from the previous year.

1. Industrial employment trends (12-month change)
Cincinnati
Sources: Jones Lang LaSalle Research, Bureau of Labor Statistics
Industrial employment update
Metro Cincinnati . May 2015
Cincinnati’s industrial employment scene is marked by a number of recently
announced company expansions as explained on page 2 with construction,
manufacturing and distribution all adding to local payrolls or capital
investment. As a result, Cincinnati has posted positive industrial absorption
totals at levels since 2008.
Industrial space demand is improving slowly (but surely), thanks to a steady
recovery of the local – and regional - economy which added approximately
1,800 industrial jobs in the last two years. Another indicator moving in the right
direction in terms of sustained improvement, the warehouse market posted the
four consecutive quarters of positive net absorption for the first time since
2005. Now that vacancies have been tightening for some time, asking rents
are stabilizing and incremental increases in rents may soon begin to surface.
Industrial real estate implications
• The Cincinnati metro continued its steady expansion by recently
adding 14,400 payrolls, year-over-year, bringing total non-farm
employment to 1.04 million. Meanwhile, unemployment fell 1.2
percent to 4.8 percent from the previous year.
• Cincinnati’s industrial sector continued its run of aggressive
expansion by recently posting an annual gain of 11,100 jobs as
seen in the latest data from the BLS. Trade, transportation and
utilities fared best, adding 7,300 jobs annually. Meanwhile, other
services rebounded from negative growth from the previous month,
adding 400 jobs year-over-year.
• Total U.S. nonfarm employment increased by 223,000 jobs in April,
a healthy uptick after a disappointing March where job gains totaled
just 85,000. The strong April results will help lower concerns among
economists and Wall Street of a hiring slowdown.
• U.S. unemployment decreased 10 basis points to 5.4 percent, its
lowest mark since May 2008. Wages also continued to trend in the
right direction in April, increasing 2.2 percent year-over-year.
(4.0)
(2.0)
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011
2012
2013
2014
2015
Mining, Logging & Construction Trade, Transportation & Utilities Manufacturing Other Services
Job growth/loss by sector (12-month change)
Cincinnati
-2,100
-1,200
-1,000
100
400
1,600
1,700
1,700
5,900
7,300
-4000 -2000 0 2000 4000 6000 8000
Government
Educational & Health Services
Leisure & Hospitality
Information
Other Services
Financial Activities
Mining and Logging
Manufacturing
Professional & Business Services
Trade, Transportation & Utilities
Number of Jobs
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
900,000
920,000
940,000
960,000
980,000
1,000,000
1,020,000
1,040,000
1,060,000
1,080,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Peak: 1,069,054 jobs
Total jobs vs. Unemployment rate
Cincinnati
3.1%
Total Employment
Unemployment
4.8%Cincinnati unemployment
1.4%Cincinnati 12-month job growth
5.4%U.S. unemployment
2.2%U.S. 12-month job growth

2. © 2015 Jones Lang LaSalle IP, Inc. All rights reserved.
All information contained herein is from sources deemed
reliable; however, no representation or warranty is made
to the accuracy thereof.
JLL Americas Research • Cincinnati Industrial Employment Update 2
News on the street
Cincinnati businesses expanding, contracting, etc.
C.M. Paula Ι Plastic & Rubber Product Manufacturing: Expanding
C.M. Paula, a privately held holding company that purchases, grows and holds other businesses, was approved for a 40 percent, six-year tax credit as a result of the
company’s expansion in the city of Mason. The company’s subsidiaries include Up With Paper, GeoCentral, ART Technologies and Remtec Automation.
C.M. Paula expects to create 29 full-time jobs generating about $1.6 million in additional annual payroll as well as retain more than $5.6 million in payroll.
Emerge Technologies Ι Information Technology Services: Expanding
Emerge Technologies recently received preliminary approval for incentives from the Kentucky Economic Development Finance Authority to aid in its expansion. The
company was given wage assessment incentives to expand, meaning the company can keep a portion of its investment over the term of the agreement through
income tax credits and wage assessments if it meets job and investment targets. The company expects to spend $4.8 million to purchase a new building.
Intelligrated Inc. Ι Material Handling Equipment Manufacturing: Expanding
Intelligrated Inc., one of the region’s largest private companies, is expanding its Mason headquarters and hiring hundreds of additional employees. Intelligrated,
which designs, manufactures and installs material handling automation services, is hiring about 238 additional employees, primarily for jobs in the engineering field.
In addition, the company is expanding its headquarters, located at 7901 Innovation Way, by 83,000 square feet.
Nitto Denko Avecia Ι Pharmaceutical Manufacturing: Expanding
Nitto Denko Avecia, a contract manufacturer of active pharmaceutical ingredients for the pharma industry, was recently approved for a 40 percent five-year tax credit
as a result of the company’s expansion in the city of Reading. The company would invest in expanding an existing building and new machinery and equipment.
Avecia expects to create 15 full-time jobs generating $1.1 million in additional annual payroll as well as retain more than $5.6 million in payroll by Dec. 31, 2017.
Peter Cremer North America LP Ι Soap & Other Detergent Manufacturing: Expanding
Peter Cremer North America LP, an international oleochemicals company, is planning a large expansion in the city of Cincinnati. The company wants to purchase
more than 6 acres of city-owned land along River Road in Sedamsville to build a 78,000-square-foot manufacturing and warehouse facility. Peter Cremer also plans
to create 120 new full-time jobs and another 30 part-time jobs within three years after completion of construction.
Zotefoams Ι Plastic & Rubber Product Manufacturing: Expanding
Zotefoams (LON: ZTF) is expected to invest nearly $22 million in a 53,000-square-foot expansion of its Walton headquarters, which will create 25 new jobs. The
expansion is being built by Paul Hemmer Co. Zotefoams produces cross-linked block foams that are used in sports and leisure, packaging, transport, health care,
toys, building, marine and the military. The company was given a total tax incentive of $700,000 for the expansion from KEDFA.
Cody Brooks
Research Analyst
Great Lakes Region
tel +1 513 297 2509
Cody.Brooks@am.jll.com
312 Walnut St,
Suite 3030
Cincinnati, OH 45202
www.jll.com/cincinnati
March 2013 March 2014 March 2015
Total Non-farm
Employment
1,006,900
1.0%
1,027,600
2.1%
1,042,000
1.4%
Unemployment Rate 7.4% 6.0% 4.8%
Cincinnati Supersectors March 2013 March 2014 March 2015
Mining, Logging and Construction 35,400 -1.9% 38,000 7.3% 39,700 4.5%
Manufacturing 103,900 -0.7% 108,500 4.4% 110,200 1.6%
Trade, Transportation, & Utilities 198,000 0.6% 199,600 0.8% 206,900 3.7%
Information 14,100 2.2% 13,400 -5.0% 13,500 0.7%
Financial Activities 64,900 2.4% 65,800 1.4% 67,400 2.4%
Professional & Business Services 159,000 1.0% 163,400 2.8% 169,300 3.6%
Educational & Health Services 154,700 2.0% 159,200 2.9% 158,000 -0.8%
Leisure & Hospitality 105,200 3.4% 108,800 3.4% 107,800 -0.9%
Other Services 39,700 4.7% 38,700 -2.5% 39,100 1.0%
Government 132,000 -1.0% 132,200 0.2% 130,100 -1.6%
Employment statistics
Cincinnati
Industry employment stratification
Cincinnati
Trade, transportation
and Utilities,
206,900, 20%
Professional and
Business Services,
169,300, 16%
Educational and Health
Services,
158,000, 15%
Government,
130,100, 13%
Manufacturing,
110,200, 11%
Leisure and Hospitality,
107,800, 10%
Financial Activities,
67,400, 6%
Mining, Logging and
construction,
39,700, 4%
Other Services,
39,100, 4% Information,
13,500, 1%
Andrew Batson
Senior Research Analyst
Great Lakes Region
tel +1 216 937 4374
Andrew.Batson@am.jll.com
127 Public Square,
Suite 2410
Cleveland, OH 44114
www.jll.com/cleveland