Monthly Economic Update | October 2014

MONTHLY ECONOMIC

UPDATE

columbusregion.com 614-225-6063

OCTOBER 2014

Jobs: 150 created

Investment:

Facilities: Manufacturing

1

$82 million

COLUMBUS 2020 MONTHLY UPDATE | OCTOBER 2014

PROJECTS OCTOBER 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)

CASE STUDY: STANLEY ELECTRIC

87% 89%

100%

72%

76%

69%

77%

68%

65% 80%

81%

65%

85%

79%

70% 77%

50%

83%

68%

67% 79% 80%

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

5 6

5 4 4

1

7 6

3

0

4

8

12


2013 2014

23

28

17

25 29

16

22 19 17

20 16

20 20 24

20

30

22 24

19

12 14

20

0

10

20

30

40


2013 2014

Stanley Electric US Co. Inc., which designs and

manufactures lighting systems, climate control units and

displays for the automotive and motorcycle industry, is

investing $82 million to expand in London, Ohio. The

investment includes construction of a new production

facility and new machinery, both of which will position the

company to reach its goal as the No. 1 source for exterior

lighting. The company currently employs more than 970

in the Columbus Region and expects to add 150 jobs at the

new facility, including advanced manufacturing positions.

in London and community and state support as factors in

selecting the Columbus Region for expansion.

**Balance of started projects sourced/managed by JobsOhio

2

ATTRACTION PROJECTS:

PROJECTS BY SOURCE


DOMESTIC/INTERNATIONAL


PROJECTS BY SECTOR


SUSPECTS AND PROSPECTS


ACTIVE PROJECTS AS OF OCTOBER 31, 2014

TOTAL ACTIVE PROJECTS

(130 PROJECTS)

EXPANSION PROJECTS:

PROJECTS BY SOURCE

EXPANSION PROJECTS:

PROJECTS BY SECTOR

EXPANSION PROJECTS:

DOMESTIC/INTERNATIONAL

48 42

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.

69%

31%

New Existing

67% 4%

29%

Columbus 2020

Local ED partners

JobsOhio

62% 28%

10%

Columbus 2020

Local ED partners

JobsOhio

17

3

19

1

0

5

10

15

20

25

30

35

40

37

12

33

8

0

5

10

15

20

25

30

35

40

44% 56%

Domestic International

80%

20%

Domestic International

BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES

OCTOBER 2014 COMPLETED ACTIVITIES

NOVEMBER 2014 PLANNED ACTIVITIES

Columbus

Consultant Connect NY Summit

BUSINESS DEVELOPMENT MISSIONS:

INTERNATIONAL ACTIVITIES:

Germany business development mission

3


Dallas: The Columbus 2020 team traveled to Dallas to participate in the International Economic Development Council (IEDC) Annual Conference.

Chicago: The Columbus 2020 team attended the Women in Economic Development Consultants Forum in Chicago.

New York City: The Columbus 2020 team participated in discussions with economic developers and site selection consultants at the Consultant Connect Summit Series in New York.

Atlanta/Lexington: The Columbus 2020 team traveled to Atlanta and Lexington to hold company meetings.

Japan/China: The Columbus 2020 team conducted an international mission to Japan and China holding nearly 40 meetings with companies considering investment in the U.S.

October 2014 Performance:

14 visits in October (282 YTD)

Visits conducted by:

CASE STUDY: SAGE SUSTAINABLE ELECTRONICS

Jobs: 50 created

Investment:

Facilities: Headquarters

4


$2.5 million

BUSINESS RETENTION & EXPANSION | OCTOBER 2014

BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR

Sage Sustainable Electronics, a newly created sustainable

electronics company, is opening its headquarters and

processing center in Columbus. The investment of more

than $2.5 million includes facility improvements, systems

and application development, production equipment and

an estimated 50 new technology sector jobs.

Michael Keegan, CFO, cited the high quality workforce and

extensive logistics and distribution infrastructure as

headquarters and first operating facility. He also noted the

large number of Fortune 1000 companies and the ability to

build relationships with an abundance of businesses in the

Columbus Region.

21%

50%

29% Columbus 2020only

Local EDpartner only

Both Columbus2020 and LEDO

2

4

2

4

2

0

2

4

6

8

10

5

8

1

0

2

4

6

8

10

Source: U.S. Patent and Trademark Office

CASE STUDY: LUBRICATION SPECIALTIES, INC.

Jobs: 20 created

Investment:

Facilities: Manufacturing

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*

$1.9 million

Lubrication Specialties, Inc. (LSI), specializing in hard-to-handle

automotive lubrication areas, is investing $1.9 million to build a

new facility in Morrow County. The new facility in Morrow

Meadows Industrial Park will include office, manufacturing, R&D

recognized brand led to the investment and creation of 20 new

jobs.

Chris Gabrelcik, founder and president of LSI, cited the

automotive customers as reasons the company chose to

expand locally.

1,226

1,106

1,261 1,223

500

750

1000

1250

1500

Jun Jul Aug Sep

142 137 147 173

0

50

100

150

200

250

300

Jun Jul Aug Sep

83

25

104

28

77

19

81

22

Inventor Assignee

June July August September

6

POLICY & ADVOCACYIN THE NEWS

ECONOMIC DEVELOPMENT NEWS


TRANSPORTATION & INFRASTRUCTURE

Columbus identified as hot spot for entrepreneurs

Kiplinger ranked Columbus No. 10 city for starting a

business due to a low cost of living, a well-educated

workforce, a low unemployment rate and a blend of large

and small businesses. Columbus has resources including

Ryan Schick, Small Business Concierge, and the Small

Business Builder to help entrepreneurs get settled.

http://bit.ly/10Yswaz

Columbus No. 4 in per capita GDP growth

Data released by the Bureau of Economic Analysis (BEA)

ranked the Columbus metropolitan area No. 4 among the

52 largest MSAs in the U.S., with a real per capita GDP

growth of 8.19 percent from 2010 to 2013.

http://bit.ly/1zy8php

development

A survey of U.S. site selection consultants conducted by

Development Counsellors International ranked Columbus

regional economic development organizations. The award

was presented at the International Economic Development

Council (IEDC) Annual Conference where Columbus 2020

also won an additional six awards for various marketing

projects and campaigns.

http://bit.ly/1tgPlM8

For all of the latest news, visit:

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

News.aspx

Ohio Export Internship Program

The Ohio Export Internship Program is available for

Ohio businesses to take advantage of increased

export sales and new business opportunities. The

program was started in 2012 through a partnership

between the Ohio Development Services Agency

and The Ohio State University Fisher College of

Business and provides companies a means to

leverage the interns and begin to grow exports. The

program is mutually beneficial for interns and

companies by allowing students work experience

and businesses access to specifically trained

students. To date, 60 students have participated in

the program. So far companies have reported

about $180,000 in actual sales and more than $4

The internship program complements the

strategy, Columbus Global Connect. Columbus

Global Connect comprises the Metropolitan Export

Initiative which serves to connect export-ready

firms with export services and global markets; and

the Foreign Direct Investment Pilot Program which

includes a Columbus Region market assessment

and a foreign direct investment plan and policy.

For more information, visit: http://bit.ly/1zyc4vO

$91M capital investment proposed for

Rickenbacker

The Columbus Regional Airport Authority has a

created a $91 million, 10-year capital improvement

program to upgrade infrastructure and facilities

surrounding Rickenbacker Airport. Rickenbacker has

received recent logistics and export attention for its

partnerships with Cargolux, Cathay Pacific and

Consolidated Aviation Services that provide shippers

and freight forwarders increased export services.

The capital program includes proposals for a new air

traffic control tower and a fifth air cargo terminal to

satisfy expected demand for international cargo

shipments.

For more information, visit: http://bit.ly/1tM6liE

11-County Columbus Region = 4.3%

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

Source: Xceligent Source: Columbus REALTORS

7

$3.16

$10.15

Industrial

Retail

5.4%

9.2%

Source: Ohio Department of Job and Family Services

Direct

Asking Rent

(per sf)

Vacancy

RateUse

Office 13.4%

COMMERCIAL REAL ESTATE

(AS OF OCTOBER 31)

HOUSING SALES

$16.43

NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS

(WEEK ENDING 8/2/14 TO WEEK ENDING 11/1/14)


REGIONAL ECONOMIC DATA

NUMBER EMPLOYED AND UNEMPLOYMENT RATE

(SEPTEMBER 2014)

5.2% (-2.8)

Marion

26,644 (+211)

5.3% (-1.5)

Knox

28,161 (-69)

Unemployment

rate

(September

2014)

Number

employed

residents

(September 2014)

Change from

September 2013 to

September 2014

4.4% (-1.1)

Delaware

93,198 (-140)

5.1% (-1.3)

Fairfield

71,283 (+165)

3.8% (-2.4)

Franklin

607,878 (+5,788)

5.3% (-2.0)

Licking

80,386 (+106)

5.8% (-0.4)

Madison

18,801 (+66)

5.9% (-1.1)

Morrow

16,109 (-107)

6.0% (-1.9)

Pickaway

23,007 (+91)

4.7% (-1.3)

Union

25,836 (-20)

5.4% (-1.1)

Logan

22,110 (-157)

0

400

800

1,200

1,600

6,000

8,000

10,000

12,000

8/2

8/9

8/1

6

8/2

3

8/3

0

9/6

9/13

9/2

0

9/2

7

10/4

10/11

10/18

10/2

5

11/1

Continuing New

2,843 2,675

2,318

$175k

3,035 2,834

2,349

$179k

NewListings

InContracts

ClosedSales

AverageSalesPrice

September 2013 September 2014

Economy & Finance

Monthly Economic Update | October 2014