Monthly Economic Update | May 2014

MONTHLY ECONOMIC

UPDATE

columbusregion.com 614-225-6063

MAY 2014

Jobs: 300 Created

Investment:

Facilities: Manufacturing

1

$20 Million

CASE STUDY: BOCCHI LABORATORIES

COLUMBUS 2020 MONTHLY UPDATE | MAY 2014

PROJECTS MAY 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%

70% 77%

50%

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

4

0

4

8

12


2013 2014

23

28

17

25 29

16

22 19

17 20

16 20 20

24 20

30

22

0

10

20

30

40


2013 2014

Bocchi Laboratories, a producer of health, beauty and

personal care products, is expanding to New Albany. The

California-based company will build a 130,000 square foot

facility in the New Albany International Beauty Campus

and bring 300 jobs to city. The project will generate

$148,000 in annual income taxes for New Albany. The

facility is expected to open by July 2015 and the company

has the option for a 57,000 square foot expansion.

According to CEO, Joe Pender, the second facility will give

the company improved access to the eastern U.S. Jobs will

include management, engineering, logistics and production

positions for a total annual payroll of $7.5 million.

**Balance of started projects sourced - managed by JobsOhio

2

ATTRACTION PROJECTS:

DOMESTIC/INTERNATIONAL


SUSPECTS AND PROSPECTS


PROJECTS BY SECTOR


PROJECTS BY SOURCE


ACTIVE PROJECTS AS OF MAY 31, 2014

TOTAL ACTIVE PROJECTS

(161 PROJECTS)

EXPANSION PROJECTS:

PROJECTS BY SOURCE

EXPANSION PROJECTS:

PROJECTS BY SECTOR

EXPANSION PROJECTS:

DOMESTIC/INTERNATIONAL

68

46

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.

71%

29%

New Existing

60%

5%

35%

Columbus 2020

Local ED partners

JobsOhio

62% 19%

19%

Columbus 2020

Local ED partners

JobsOhio

15

5

26

1

0

5

10

15

20

25

30

35

40

42

9

52

11

0

10

20

30

40

50

60

53%

47%

Domestic International

83%

17%

Domestic International

BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES

MAY 2014 COMPLETED ACTIVITIES

JUNE 2014 PLANNED ACTIVITIES

Columbus

Area Development Consultants Forum

Philadelphia

The World Forum for FDI

BUSINESS DEVELOPMENT MISSIONS:

New York, Atlanta, Greenville, Chicago

3


West Coast/Vancouver: The Columbus 2020 team visited the Los Angeles, San Diego, San Francisco, Seattle, and Vancouver markets to hold meetings with companies and consultants.

Dallas: The Columbus 2020 team participated in a market visit along with JobsOhio to meet with site selection consultants and promote Ohio and the Columbus Region.

Minneapolis: The Columbus 2020 team atteneded the 2014 IEDC Spring Conference to learn about the latest trends in existing and emerging industries and regional talent retention strategies.

Japan/Korea: The Columbus 2020 team met with companies in Japan considering investment in the U.S, and participated in the SelectUSA Conference in Korea.

UK/Sweden: The Columbus 2020 team conducted an international mission to the UK and Sweden, holding meetings with companies to discuss U.S. investment opportunities.

MAY 2014 Performance:

23 visits in May (147 YTD)

Visits conducted by:

CASE STUDY: HOMAGE

Jobs: 28 jobs created; 42 jobs retained

Investment:

Facilities: Headquarters; Distribution

4

$490,000


BUSINESS RETENTION & EXPANSION | MAY 2014

BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR

Homage, the Columbus-based maker and seller of vintage-

inspired apparel, is consolidating and expanding its

operations into a 30,000 square foot building near Port

Columbus International Airport. The new location will serve

as the headquarters and distribution facility for the

company that has been growing rapidly since 2007. The

nearly $500,000 investment will include upgrades to the

building, space, equipment and employee training.

Homage will retain its 42 existing jobs and add 28 new

jobs.

Pennsylvania and Michigan were competition for this

expansion project, but incentives approved by the Ohio

Tax Credit Authority assisted to retain the local company.

57% 26%

17% Columbus2020 only

Local EDpartner only

Both 2020and LEDO

11

6

3 2

1

0

2

4

6

8

10

12

7 5

8

1 2

0

5

10

15

20

25

Source: U.S. Patent and Trademark Office

CASE STUDY: HERITAGE COOPERATIVE

Jobs: 20 jobs created; 256 jobs retained

Investment: $38.5 million

Facilities: Logistics and distribution

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*


Heritage Cooperative has plans to build a $35 million facility in

Marysville along the U.S. 33 corridor and CSX rail line. The 277

acre agricultural campus and research farm expands upon the

Region's strong agbioscience industry and leverages a

strategically connected location. Rail access will allow the co-

op members opportunity to easily move products from fields

and decrease delivery time to markets where products are sold.

According to the CEO of Heritage Cooperative, Eric

Parthemore, the new site will allow the cooperative to deliver

cutting-edge efficiency, improved access to markets and

access to agricultural technologies that will position members

to remain competitive. The facility is expected to open in

September 2015 and will create 20 full-time and 15 part-time

jobs..

1,314 1,283

1,446 1,390

500

750

1000

1250

1500

Jan Feb Mar Apr

269

155

198 202

0

50

100

150

200

250

300

Jan Feb Mar Apr

60

21

96

26

60

19

113

31

Inventor Assignee

Jan Feb Mar Apr

6

ECONOMIC DEVELOPMENT NEWS


TRANSPORTATION & INFRASTRUCTURE POLICY & ADVOCACYCOLUMBUS REGION IN THE NEWS

Columbus ranked No. 6 most affordable housing

market for middle class

According to Trulia, 81 percent of homes for sale in

Columbus are affordable for middle class. Affordability

is based on whether the total monthly payment -

mortgage, insurance and property taxes - is less than 31

percent of the metro area's median household income.

http://on.trulia.com/1jpqGQK

Columbus ranks 8th among best cities for information

jobs in 2014

New Geography looked at MSAs that have at least

10,000 information jobs - which includes software,

publishing, broadcasting and telecommunications

services - and ranked them based on job growth in the

sector over the long-term (2002-13), mid-term (2008-

13) and the last two years, as well as recent momentum.

http://bit.ly/1pW8fM1

Columbus 2020 named a top economic development

organization

Columbus 2020 received Honorable Mention from Site

Selection magazine, making the organization one of the

top 20 in the U.S. The organizations were evaluated on a

variety of criteria, with four objective measurements

counting the most: jobs, capital investment, jobs per

capita and investment per capita. http://bit.ly/1hBIzSe

For all of the latest news, visit:

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

News.aspx

Incubator being created for nonprofits

A TechColumbus-like incubator and investment

fund is being created in Central Ohio to assist local

nonprofits. The Community Investment Network of

Central Ohio (CINCO Fund LLC) and Center for

Social Enterprise Development are designed to

assist nonprofits generate revenue and teach them

how to become more self-sustaining. The effort is

being led by three Central Ohio nonprofit advisors

who are working with the fund's advisory board to

introduce the business model and generate

investors.

For more information, visit: http://bit.ly/1mHGvo9

Cargolux expanding cargo service at Rickenbacker

Cargolux Airlines International is adding an extra

cargo flight per week between Columbus and Hong

Kong. Currently the company operates two flights

per week.

Cargolux has been operating in Columbus since June

2013 and delivered 1.1 million pounds of cargo in

March 2014. To compare, the new service by Cathay

Pacific delivered 236,000 pounds from Hong Kong in

the same month, and market leader FedEx moved

almost 8 million pounds from multiple locations.

David Whitaker, Columbus Regional Airport

Authority vice president of business development,

has expressed satisfaction that the operation is

working for Cargolux. The next goal is to align

international flights with exports from the Region.

For more information, visit: http://bit.ly/1tOUHzp

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

Source: Xceligent Source: Columbus REALTORS

7

$3.00

$9.39

Industrial

Retail

6.1%

9.0%

Source: Ohio Department of Job and Family Services

Direct

Asking Rent

(per sf)

Vacancy

RateUse

Office 14.5%

COMMERCIAL REAL ESTATE

(AS OF JUNE 2)

HOUSING SALES

$15.75


REGIONAL ECONOMIC DATA

NUMBER EMPLOYED AND UNEMPLOYMENT RATE (APRIL 2014) NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS

(WEEK ENDING 3/8/14 TO WEEK ENDING 5/31/14)

5.3% (-2.3)

Marion

26,807 (-406)

4.4% (-2.5)

Knox

29,160 (+693)

Unemployment

rate

(April 2014)

Number

employed

residents

(April 2014)

Change

from

April 2013 to

April 2014

3.7% (-1.3)

Delaware

92,401 (+1,628)

4.5% (-1.9)

Fairfield

71,894 (+1,416)

4.6% (-1.6)

Franklin

608,593 (+9,503)

4.3% (-2.4)

Licking

81,313 (+1,673)

4.8% (-1.2)

Madison

19,091 (+397)

4.7% (-2.9)

Morrow

16,579 (+407)

5.1% (-2.4)

Pickaway

23,316 (+470)

3.9% (-2.0)

Union

25,973 (+512)

4.4% (-2.3)

Logan

22,396 (+526)

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

3/8

3/1

5

3/2

2

3/2

9

4/5

4/1

2

4/1

9

4/2

6

5/3

5/1

0

5/1

7

5/2

4

5/3

1

Continuing New

3,991

3,820

2,508

$164K

3,706

3,383

2,195

$176K

NewListings

InContracts

ClosedSales

AverageSalesPrice

Apr 2013 Apr 2014

Monthly Economic Update | May 2014

Business

Transcript of Monthly Economic Update | May 2014