Monthly Economic Update | February 2014

MONTHLY ECONOMIC

UPDATE

columbusregion.com 614-225-6063

FEBRUARY 2014

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


2013 2014

23

28

17

25 29

16

22 19

17 20

16

20 20 24

0

10

20

30

40


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.

2

ATTRACTION PROJECTS:

DOMESTIC/INTERNATIONAL


SUSPECTS AND PROSPECTS


PROJECTS BY SECTOR


PROJECTS BY SOURCE


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

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


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.

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


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% Columbus2020 only

Local EDpartner only

Both 2020and LEDO

9

2 2

1

8

0

2

4

6

8

10

2 2

16

2

0

5

10

15

20

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 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

POLICY & ADVOCACY

6

ECONOMIC DEVELOPMENT NEWS

COLUMBUS IN THE NEWS


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

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

RateUse

Office 14.8%

COMMERCIAL REAL ESTATE

(AS OF FEBRUARY 28)

HOUSING SALES

$15.29


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

12/1

4

12/2

1

12/2

8

1/4

1/11

1/18

1/25

2/1

2/8

2/1

5

2/2

2

3/1

Continuing New

2,610 2,332

1,458

$148K

2,175

1,143 1,337

$159K

NewListings

InContracts

ClosedSales

AverageSales Price

Jan 2013 Jan 2014

Monthly Economic Update | February 2014

Business

Transcript of Monthly Economic Update | February 2014