Monthly Economic Update | April 2014

MONTHLY ECONOMIC

UPDATE

columbusregion.com 614-225-6063

APRIL 2014

Jobs: 185 retained

Investment:

Facilities: Business Services

1

PROJECTS APRIL 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)

COLUMBUS 2020 MONTHLY UPDATE | APRIL 2014

CASE STUDY: MERRILL CORPORATION

$834,000

87% 89% 100%

72% 76% 69%

77% 68% 65%

80% 81%

65% 85% 79%

70% 77%

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

4 5

0

4

8

12


2013 2014

23

28

17

25 29

16

22 19

17 20

16 20 20

24 20

30

0

10

20

30

40


2013 2014

Merrill Corporation, a global provider of technology-

enabled services for corporate markets, extended its lease

in Grove City. The decision includes an $834,000 capital

investment in the facility and retains the location's 185

employees. Investment to the 200,000 square foot facility

includes internal and external improvements.

The company evaluated other possible sites, but remained

committed to the Grove City location and cites the city

and the Columbus Region as a great place to grow its

business.

2

ACTIVE PROJECTS AS OF APRIL 30, 2014

TOTAL ACTIVE PROJECTS

(171 PROJECTS)

EXPANSION PROJECTS:

PROJECTS BY SOURCE

EXPANSION PROJECTS:

PROJECTS BY SECTOR

EXPANSION PROJECTS:

DOMESTIC/INTERNATIONAL


ATTRACTION PROJECTS:

PROJECTS BY SOURCE


DOMESTIC/INTERNATIONAL


SUSPECTS AND PROSPECTS


PROJECTS BY SECTOR

83

30

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.

66%

34%

New Existing

65%

3%

32%

Columbus 2020

Local ED partners

JobsOhio

60% 19%

21%

Columbus 2020

Local ED partners

JobsOhio

15

6

31

6

0

5

10

15

20

25

30

35

40

38

7

58

10

0

10

20

30

40

50

60

70

49% 51%

Domestic International

83%

17%

Domestic International

BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES

APRIL 2014 COMPLETED ACTIVITIES

MAY 2014 PLANNED ACTIVITIES

Atlanta

BABC Transatlantic Conference

BUSINESS DEVELOPMENT MISSIONS:

San Francisco, Seattle, Dallas

INTERNATIONAL ACTIVITIES:

Japan, Korea, UK, Sweden, Vancouver

3


Seattle: As part of the Global Cities Initiative the Columbus 2020 team attended a working session hosted by JPMorgan Chase and the Brookings Institution.

Phoenix: The Columbus 2020 team attended 2014 MRO Americas conference to network with aviation industry professionals and

Austin: The Columbus 2020 team held meetings with consultants as part of the Columbus Region's economic development strategy.

Pinehurst: The Columbus 2020 team attended the Industrial Asset Management Council (IAMC) Spring Professional Forum to network with real estate executives and attend business strategy sessions.

Boston/Hartford: The Columbus 2020 business development team conducted meetings with compaines and location advidors.

China: The Columbus 2020 team conducted an international mission to China, participating in the Pearl River Delta SelectUSA Roadshow and meeting with dozens of companies and consultants.

APRIL 2014 Performance:

37 visits in April (124 YTD)

Visits conducted by:

CASE STUDY: AMERISOURCEBERGEN

Jobs: 100 created

Investment:

Facilities: Distribution

4

BUSINESS RETENTION & EXPANSION | APRIL 2014

BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR


$14 Million

AmericsourceBergen will build a new 87,000 square foot

distribution center in Lockbourne. The company is a

national prescription drug supplier responsible for

distributing nearly one-third of all pharmaceuticals across

the U.S. AmerisourceBergen employs 500 within Central

Ohio and the expansion will create 100 new jobs in the

Lockbourne area including positions in supply chain,

management and data processing.

Local officials believe the move will help facilitate the

Columbus Region as a nationwide hub for the industry. The

new facility is planned to open this fall.

43%

38%

19% Columbus2020 only

Local EDpartner only

Both 2020and LEDO

11

3

6 5

3 3

6

0

2

4

6

8

10

12

12

2

19

4

0

5

10

15

20

25

Source: U.S. Patent and Trademark Office

CASE STUDY: 2CHECKOUT.COM

Jobs: Dozens created

Investment: $60 million

5


BUSINESS CREATION

BUSINESS DISSOLUTIONS,

SURRENDERS, WITHDRAWALS

PATENTS BY REGION INVENTORS

& ASSIGNEES

NEW BUSINESS REGISTRATION*

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.

Grandview Heights-based company, 2Checkout.com raised $60

million in venture capital for expansion in Columbus and Dublin,

Ireland. The payment processing company specializing in e-

commerce provides the technology behind the online checkout

process for more than 22,000 merchants. It is expected to

dominate the international scene because of a niche capability

to easily perform currency conversions between merchants and

customers.

2Checkout currently handles payments in 26 currencies and 15

languages with continuing build-out plans anticipated. The

company also expects to hire dozens of new employees in

Central Ohio.

1,078

1,314 1,283

1,446

500

750

1000

1250

1500

Dec Jan Feb Mar

246 269

155

198

0

50

100

150

200

250

300

Dec Jan Feb Mar

84

20

60

21

96

26

60

19

Inventor Assignee

Dec Jan Feb Mar

6

POLICY & ADVOCACYCOLUMBUS REGION IN THE NEWS

ECONOMIC DEVELOPMENT NEWS


TRANSPORTATION & INFRASTRUCTURE

Columbus Global Connect program launched to make

Region a top exporter

Columbus Global Connect is a global trade and

investment strategy for the Columbus Region. The

strategy complements Columbus 2020's existing 10-

year goals and international business development

efforts. http://bit.ly/1noGqIU

A focus on workforce is paying off in logistics

Columbus continues to develop its skilled workforce as

a competitive advantage in the logistics industry. Paired

with access to 46 percent of the U.S. population within a

10 hour drive, Columbus is an attractive and ideal hub

for distribution and logistics operations.

http://bit.ly/R4rjZu

Central Ohio jobless rate hits 6-year low

The unemployment rate fell to five percent in March

matching the pre-recession levels of 2008. Employers in

the region added 1,500 jobs and the unemployed count

fell by 2,600 during the past month. The Columbus

Region included three of eight counties with rates below

5 percent. http://bit.ly/1kFbb9R

For all of the latest news, visit:

http://columbusregion.com/Media-center/Recent-

News.aspx

Central Ohio preparing for influx of 500,000

new residents with insight2050

Mid-Ohio Regional Planning Commission (MORPC),

ULI Columbus and Columbus 2020 have retained

Calthorpe Associates to develop a set of analytical

tools to assist local decision makers in preparation

for the future growth and development in the

Region. Central Ohio is expected to add 500,000

residents by 2050 and the initiative will allow a

public and private sector committee to objectively

study several growth scenarios and the impact of

each on local municipalities and the Region.

For more information, go to: http://bit.ly/1neGKwf

Amerijet to set up cargo hub at Rickenbacker

Amerijet International plans to establish a new cargo

hub at Rickenbacker Airport, on the heels of

announcements from the airport's newest carriers

Cargolux Airlines International and Cathay Pacific

Cargo. Amerijet has signed a lease for a 20,000

square foot space and will run flights six days a

week beginning in July. Columbus and Reno, Nevada

will serve as its two U.S. air and truck system hubs.

According to David Whitaker, Columbus Regional

Airport Authority vice president of business

development, the growth positions Rickenbacker

with an opportunity to become a global gateway for

air cargo. Columbus is a growing market and airport

officials and local economic development leaders

hope the increase in cargo traffic will continue to

attract more cargo carriers, warehouse operators

and other businesses to the area.

For more information, go to: http://bit.ly/1jZw6UE

Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Seasonally Adjusted

Source: Xceligent Source: Columbus REALTORS

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NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS

(WEEK ENDING 2/8/14 TO WEEK ENDING 5/3/14)


REGIONAL ECONOMIC DATA

NUMBER EMPLOYED AND UNEMPLOYMENT RATE (MARCH 2014)

Source: Ohio Department of Job and Family Services

Direct

Asking Rent

(per sf)

Vacancy

RateUse

Office 14.9%

COMMERCIAL REAL ESTATE

(AS OF APRIL 30)

HOUSING SALES

$15.65

$2.99

$9.52

Industrial

Retail

6.0%

8.9%

6.6% (-1.5)

Marion

26,575 (-448)

5.4% (-1.6)

Knox

29,005 (+764)

Unemployment

rate

(Mar 2014)

Number

employed

residents

(Mar 2014)

Change

from

Mar 2013 to

Mar 2014

4.1% (-0.9)

Delaware

91.697 (+1,189)

5.1% (-1.4)

Fairfield

71,487 (+1,045)

5.2% (-1.2)

Franklin

605,693 (+6,983)

4.9% (-1.9)

Licking

80,838 (+,244)

5.0% (-0.6)

Madison

18,985 (+293)

5.8% (-2.0)

Morrow

16,477 (+280)

5.8% (-1.8)

Pickaway

23,184 (+345)

4.5% (-1.6)

Union

25,790 (+350)

4.8% (-2.2)

Logan

22,521 (+640)

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

2/8

2/15

2/2

2

3/1

3/8

3/1

5

3/2

2

3/2

9

4/5

4/1

2

4/1

9

4/2

6

5/3

Continuing New

3,501 3,245

2,007

$148K 3,428 3,067

1,796

$159K

NewListings

InContracts

ClosedSales

AverageSalesPrice

Mar 2013 Mar 2014

Monthly Economic Update | April 2014

Business

Transcript of Monthly Economic Update | April 2014