The Columbus Region Monthly Economic Update reports on the job growth progress of Columbus 2020 and its local and regional partners. This update also features the successes of: department store retailer Bon-Ton Stores, which is opening a new e-commerce fulfillment center in Madison County that will create 139 new jobs; Sumitomo Electric Wiring Systems, an automotive electric systems manufacturer that will consolidate four Union County operations into one new facility and create an additional 15 new jobs; and CrossChx, a Columbus startup that provides scanners and software that link a patient's fingerprint to their medical records.
2. Jobs: 139 created
Investment:
Facilities: Distribution center
1
$25 million
CASE STUDY: BON-TON STORES, INC.
COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014
PROJECTS FEBRUARY 2014 AND YEAR-TO-DATE
FIRST-TIME VISITS (2013 vs. 2014)NUMBER OF PROJECTS STARTED
(2013 vs. 2014)
PERCENT OF PROJECTS STARTED - MANAGED
BY COLUMBUS 2020 (2013 vs. 2014)
87%
89%100%
72%76%
69%
77%
68%65%
80% 81%
65%
85%
79%
0%
20%
40%
60%
80%
100%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2014
2
5
4 4
7
5
8
5
4
7
4
3
2
3
0
4
8
12
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2014
23
28
17
25
29
16
22
19
17
20
16
2020
24
0
10
20
30
40
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2014
York, PA- and Milwaukee-based Bon-Ton Stores
announced that it will open a 743,000-square foot
fulfillment center in West Jefferson, Madison County.
Adding 139 new jobs, the distribution facility will ship
women's apparel and accessories to online customers.
Bon-Ton has experienced significant growth in e-
commerce in recent years. The new facility will help
serve existing sales as well as further growth.
The company cited the Region's strategic location and
strong base of e-commerce fulfillment operations as
factors in its site selection decision.
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 | FEBRUARY 2014
ACTIVE PROJECTS AS OF FEBRUARY 28, 2014
TOTAL ACTIVE PROJECTS
(175 PROJECTS)
EXPANSION PROJECTS:
PROJECTS BY SOURCE
EXPANSION PROJECTS:
PROJECTS BY SECTOR
EXPANSION PROJECTS:
DOMESTIC/INTERNATIONAL
81
24
0
20
40
60
80
100
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.
60%
40%
New Existing
64%
2%
34%
Columbus 2020
Local ED partners
JobsOhio
60%14%
26%
Columbus 2020
Local ED partners
JobsOhio
23
5
36
6
0
5
10
15
20
25
30
35
40
36
7
55
7
0
10
20
30
40
50
60
49%
51%
Domestic International
83%
17%
Domestic International
4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES
FEBRUARY 2014 COMPLETED ACTIVITIES
MARCH 2014 PLANNED ACTIVITIES
Orlando
JLL Academy
Dallas
Consultant Connect Annual Conference
BUSINESS DEVELOPMENT MISSIONS:
Los Angeles, Atlanta
3
COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014
Chicago: The Columbus 2020 team attended the German American
Chamber of Commerce 2014 Economic Forum and held corporate
and consultant meetings.
Los Angeles: The Columbus 2020 team attended the Corporate
Venturing and Innovation Partnering Conference to promote the
Columbus Region to corporate investment and innovation partners.
Los Angeles: The Columbus 2020 team attended the International
Economic Development Council's Leadership Summit on the
economic development industry's position in the global economy.
Toronto: The 2020 team conducted a business development
mission and met with Canadian companies as well as service
providers focused on cross-border investment.
5. FEBRUARY 2014 Performance:
22 visits in February (59 YTD)
Visits conducted by:
CASE STUDY: SUMITOMO ELECTRIC WIRING SYSTEMS
Jobs: 15 created, 123 retained
Investment:
Facilities: Office, R&D
4
$10.2 million
COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014
BUSINESS RETENTION & EXPANSION | FEBRUARY 2014
BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR
Sumitomo Electric Wiring Systems, Inc., which designs and
manufactures electronic systems for the automotive
locations into one, brand new facility in Marysville. The
move will retain its existing 123 jobs and create 15 new jobs.
The 15 new jobs will add new testing capabilities to existing
operations in customer service, development and
repacking. The consolidation will provide for greater
efficiencies. In selecting the Columbus Region, the
company cited proximity to key automotive customers.
54%32%
14% Columbus
2020 only
Local ED
partner only
Both 2020
and LEDO
9
2 2
1
8
0
2
4
6
8
10
2 2
16
2
0
5
10
15
20
6. Source: U.S. Patent and Trademark Office
CASE STUDY: CROSSCHX
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 | FEBRUARY 2014
Columbus software startup CrossChx Inc. has more than
doubled its staff to 28 in the past three months, continuing to
grow as it adds clients and develops its revenue model.
CrossChx provides fingerprint scanners and software that link a
patient's fingerprint to their medical records. In February,
CrossChx added Counteract, a paid feature that analyzes a
vulnerabilities.
CrossChx is a portfolio company of VC firm Drive Capital and
was recently identified by Columbus 2020 as one of five local
startups to watch for 2014.
1,207
962
1,078
1,314
500
750
1000
1250
1500
Oct Nov Dec Jan
165
151
246
269
0
50
100
150
200
250
300
Oct Nov Dec Jan
85
38
95
39
84
20
60
21
Inventor Assignee
Oct Nov Dec Jan
7. POLICY & ADVOCACY
6
ECONOMIC DEVELOPMENT NEWS
COLUMBUS IN THE NEWS
COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014
TRANSPORTATION & INFRASTRUCTURE
Columbus ranked No. 8 metro for projects
Site Selection again ranked Columbus among the top ten
metro areas with more than 1 million population. Ohio
ranked No. 2 among states for both number of projects
and projects per capita. http://bit.ly/1hTY3yq
Columbus among cities with most brainpower
Business Journals ranked Columbus No. 27 among 102
U.S. metro areas with 500,000 or more population,
based on educational attainment. http://bit.ly/1c0XClA
Columbus among 8 finalist cities for RNC convention
The Republican National Committee named eight
finalists for its 2016 national convention.
http://wapo.st/1pzH73E
For all of the latest news, visit:
http://columbusregion.com/Media-center/Recent-
News.aspx
Cutting taxes and growing Ohio small business
On March 18, the Columbus Chamber will host an
event for its members to learn more about how
Ohio is reducing small business taxes, red tape and
other costs. Attendees will hear directly from top
executive officers of four state agencies: the
Department of Taxation, Bureau of Workers'
Compensation, Development Services Agency and
information, go to: http://bit.ly/1eVMGkn
New Rickenbacker-Hong Kong air cargo service
On March 21, Cathay Pacific Airways will launch
twice-a-week cargo deliveries on a route that
includes Hong Kong, Anchorage, Columbus, New
York and Vancouver.
RCS Logistics Inc. will support operations with its
48,000-square-foot warehouse at Rickenbacker
International Airport.
North America. For more information, go to:
http://bit.ly/1qfDbFx
8. Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted
Source: Xceligent Source: Columbus Board of Realtors
7
Note: County employment data has not been updated from the
previous month due to the delayed release of data from BLS this
month.
$3.08
$9.20
Industrial
Retail
6.3%
9.5%
Source: Ohio Department of Job and Family Services
Direct
Asking Rent
(per sf)
Vacancy
Rate
Use
Office 14.8%
COMMERCIAL REAL ESTATE
(AS OF FEBRUARY 28)
HOUSING SALES
$15.29
COLUMBUS 2020 MONTHLY UPDATE | FEBRUARY 2014
REGIONAL ECONOMIC DATA
NUMBER EMPLOYED AND UNEMPLOYMENT RATE (DECEMBER 2013) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS
(WEEK ENDING 12/7/13 TO WEEK ENDING 3/1/14)
8.2% (+1.2)
Marion
26,510 (-921)
6.8% (+0.8)
Knox
28,036 (-16)
Unemployment
rate
(Dec 2013)
Number
employed
residents
(Dec 2013)
Change
from
Dec 2012 to
Dec 2013
5.5% (+1.0)
Delaware
92,133 (-64)
6.6% (+0.8)
Fairfield
70,486 (-90)
6.4% (+1.0)
Franklin
588,105 (-812)
6.9% (+0.9)
Licking
79,610 (-85)
6.9% (+1.1)
Madison
18,714 (-24)
7.3% (+0.7)
Morrow
16,395 (+11)
7.9% (+1.0)
Pickaway
22,543 (-31)
5.6% (+0.4)
Union
25,990 (-26)
6.4% (+0.4)
Logan
22,122 (+358)
0
400
800
1,200
1,600
2,000
2,400
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
12/7
12/14
12/21
12/28
1/4
1/11
1/18
1/25
2/1
2/8
2/15
2/22
3/1
Continuing New
2,610 2,332
1,458
$148K
2,175
1,143 1,337
$159K
New
Listings
In
Contracts
Closed
Sales
Average
Sales Price
Jan 2013 Jan 2014