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Cleveland Plus Business Brochure
1. 16 counties 2 million talented workers $170 billion GRP
It all adds up for business.
cleveland plus business.com
2. Ashtabula
Lake
Cleveland Geauga
Lorain
Cuyahoga
Summit Portage
Trumbull
dynamic
Medina Akron Youngstown
Mahoning
Richland
Ashland
Wayne
Stark
Canton Columbiana low cost
Carroll
easy access
*Distance from
Cleveland PlusTM
3. and diverse economy
corporate-friendly tax structure
of living
When you add a rich heritage, plus an
innovative spirit, plus a dynamic and
diverse economy together with genuine
people ready to get the job done, it all
adds up to Cleveland Plus®—one region
that’s the right choice for business. With
a commitment to diversity, a corporate-
friendly tax structure and a low cost of
living, the Cleveland Plus region features
amenities and resources that add up to a
smart business decision.
to U.S. and Canadian markets
3 clevelandplusbusiness.com
4. HEALTHY BUSINESS PROFILE
+ significant
more than 160,000 businesses
160,000 businesses
equals exponential opportunities
+ significant ongoing investment
equals exponentia
Northeast Ohio’s economy is diverse and growing. Building from our proud and profitable heritage in
manufacturing, today our core expertise and opportunities include—
Biomedical: We are a leader in clinical trials and research commercialization with more than 60
hospitals, including the Cleveland Clinic, 450 bio companies with 230,000 employees, and medical and
pharma education. 20 percent of all clinical studies conducted in the U.S. are done in Ohio.
Medical Devices: Close proximity to significant customers, suppliers and leading-edge research,
coupled with a skilled manufacturing workforce makes this a prime growth sector.
Professional Services (IT, Data and Call Center): A 100 percent fiber network means rapid design
integration, and rich opportunity for data centers and back-office operations.
Polymers: An international polymer hub, Northeast Ohio offers the top polymer science programs in the
U.S., the nation’s highest concentration of polymer R&D and the largest concentration of plastics and
rubber product producers, machines and materials in North America.
Financial Services: Northeast Ohio is home to a Federal Reserve Bank, and is one of only three U.S. cities
with more than one Money Center Bank headquarters.
Advanced Manufacturing: 61 percent of Northeast Ohio’s manufacturing sectors have outperformed
the U.S. average in these same sectors.
Aerospace: With the only NASA center in the northern U.S. along with top aerospace companies, the
region is rich in technological, engineering, metalworking and advanced manufacturing capabilities.
Advanced Energies:
Fuel Cell Expertise: Stark State Fuel Cell Prototyping Center and Wright Fuel Cell Group make
the region a hub for fuel cell research, development and production.
Wind Potential: A recent Renewable Energy Policy Project study ranked Ohio 2nd among the
50 states in wind component manufacturing potential because of our region’s supply chain.
Our flat land and immense offshore potential with Lake Erie offers wind generation opportunity.
Our diversified economy and culture are leading to growth in output and opportunity. In addition to these
core industries, Northeast Ohio is home to 300 foreign-owned businesses, a significant base of minority-owned
business and to some of the nation’s largest law firms. The region is a hub for food processing, where major
brands such as Smucker’s, Nestlé, and Pierre Foods operate.
In 2006 and 2007, Ohio was recognized by Site Selection magazine as #1 for new and expanded business
facilities. Between 2003 and 2006, Cleveland Plus® has seen more than 650 attraction and expansion projects,
creating tens of thousands of new jobs and generating close to $4 billion in investment. Expansions include—
• TeleTech Holdings, Inc. • Infocision Management Corp. • Progressive Insurance • FirstEnergy
• Rolls-Royce • Ben Venue Laboratories • FedEx • Sterling Jewelers, Inc.
The Cleveland Plus gross regional product is more than $170 billion.
Annually, Northeast Ohio attracts $450 million in technology and biomedical
venture investment—the most in the Midwest.
4
5. ongoing investment COMPANY:
The Timken Company
LOCATION:
Canton, OH
“As we have grown our business globally, Timken
has been proud to call Northeast Ohio home.
The consistent combination of a talented
al opportunities
workforce, a commitment to innovation and
INDUSTRY: a rewarding lifestyle make Northeast Ohio the
Friction management and
power transmission place to turn for great business opportunities.”
NUMBER OF EMPLOYEES: Tim Timken
25,000 Chairman
The Cleveland Plus® region has the
7th largest concentration of Fortune
500 companies in the U.S., including—
Natural Rscs & Mining
$1.3 Construction
$5.2
Other Services
$3.4
Leisure & Hospitality Government
$4.7 $15.4
Manufacturing
$37.5
Edu & Hlth Services
$14.6
Prof & Bus Services ®
$19.4
Trade, Trans, & Utils
$31.9
Financial Activities
$32.4
Information
Northeast Ohio: 2007 GRP by Industry Group $5.9
Billions (2006 Dollars)
5 clevelandplusbusiness.com
6. COMPANY:
Invacare Corporation “From our headquarters in Ohio, Invacare
LOCATION: has become the world leader in home
Elyria, OH medical products. The state’s new tax
INDUSTRY: laws will help us continue to grow.”
Medical Equipment
A. Malachi Mixon, III
NUMBER OF EMPLOYEES: Chairman and CEO
6,000
Ohio’s new tax model promises a reduction in tax burden of up to 63 percent.
The new tax reform—
• Phases out corporate income tax
• Eliminates tax on inventory, equipment and machinery investments
• Lowers personal income tax, reduced by 21 percent
• Exempts sales outside the state from taxation
• Exempts the first $1 million in annual gross receipts
Ohio Tax Reform
Impact on Recent $150 Million Project
$6,000
$5,000 Real Property
Tangible Personal Property
$4,000 State Corporate Franchise Tax
State Commercial Activity Tax
$3,000
$2,000
$1,000
$0
Before Tax Reform After Tax Reform
Ohio’s tax reform generates substantial tax savings.
6
7. + business-friendly + bus
attractive incentives tax structure
attractive incentives
equals a better bottom line
equals a bette
In the Cleveland Plus® region, you get big city advantages without big city costs.
Tax Incentives
• Ohio Job Creation Tax Credit
• Ohio Job Retention Tax Credit
• Ohio Research and Development Investment Tax Credit
• Ohio Investment in Training Tax Credit
• Ohio Manufacturing Machinery & Equipment Investment Tax Credit
• Technology Investment Tax Credit
• Research and Development Sales Tax Exemption
• Manufacturing Machinery and Equipment Sales Tax Exemption
• Warehouse Machinery and Equipment Tax Exemption
• Warehouse Inventory Tax Exemption
• Enterprise Zones and Community Reinvestment Areas
Grants
• Wright Centers of Innovation
• Ohio Third Frontier Program
• Brownfield Redevelopment Program
Port Authorities
19 port authorities in the Cleveland Plus region offering:
• Fixed-rate financing programs
• Off-balance-sheet financing and leasing programs
• Infrastructure financing programs
• Foreign trade zones
The new tax reform makes Ohio have the lowest taxes in the Midwest.
Northeast Ohio’s economic output is the 12th largest in the U.S. and ranks in the
top 50 worldwide.
7 clevelandplusbusiness.com
8. ROBUST TRANSPORTATION INFRASTRUCTURE
R
+
+ 33 Class I railroads airports
+ Class I railroads + 2 international + 2
5 interstate highways 6 deepwater ports
quals fast-paced, l
equals fast-paced, low-cost logistics
Northeast Ohio features one of the nation’s best logistics infrastructures. And the region reaches the largest
number of consumers within a 250-mile radius of any metro market in the U.S. So no matter where business
gets done, Cleveland Plus® will get you there faster and more efficiently.
2 airports keep costs competitive and add convenience
• Cleveland Hopkins International Airport
-350 flights daily to over 90 destinations
-Major hub for Continental Airlines
• Akron-Canton Airport
-Second fastest growing U.S. airport
3 foreign trade zones keep businesses competitive in the global marketplace
• FTZ 181 largest in U.S.
• Ranked 2nd in employment
• Ranked 3rd in exports
• Ranked 12th in companies
2 intermodal terminals for fast, efficient shipping
• CSX Intermodal Terminal
• Neomodal Intermodal Terminal
2 international waterway connections
• Lake Erie and St. Lawrence Seaway
• Ohio-Mississippi River System
Northeast Ohio features one of the nation’s best infrastructures according to Logistics
Today magazine.
Columbiana County features direct access to the Ohio River, which accounts for over
one-third of the maritime cargo moving inland in the United States each year—more
cargo per year than the Panama Canal.
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9. COMPANY: “As a technology company, we could operate anywhere
2 international airports
Turning Technologies, LLC in the country, but we chose Northeast Ohio because of
the highly skilled available workforce, the large number
LOCATION: of strong colleges and universities, the comparatively
Youngstown, OH reasonable cost of operating a business, the central
INDUSTRY: location in respect to our national population, and the
low-cost logistics
Software—Audience quality of life available in this area for our employees and
Response Technology families. Likewise, the cooperation among government,
education, nonprofits and business has been very
NUMBER OF EMPLOYEES: valuable in facilitating that growth.”
145
Mike Broderick
CEO, Turning Technologies, LLC
Major City Cleveland Plus Transportation ®
Airport Ashtabula
Lake/River Port
Interstate Highway Lake Erie
U.S. Highway
Mentor
State Highway Lake Ashtabula
Class 1 Railroad
County Boundary
Cleveland Geauga
Lorain
Elyria
Trumbull
Cuyahoge
Cuyahoga
Lorain
Kent Warren
Medina Summit
Youngstown
Medina Portage
Akron
Mahoning
Richland Ashland
Wooster Canton
Columbiana
Ashland Wayne
Mansfield Stark
East Liverpool
Carroll
0 12.5 25 50 Miles
Ohio
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10. TALENTED, DEDICATED WORKFORCE
COMPANY:
Aleris International, Inc. “The Cleveland-Akron area affords us
LOCATION:
Beachwood, OH
access to a sophisticated financial
and professional community, as well
27 univ
INDUSTRY:
Aluminum Manufacturing as a high-quality workforce.”
NUMBER OF EMPLOYEES: Steven J. Demetriou
6,000 Chairman and Chief Executive Officer
Colleges and universities located in
the Cleveland Plus® region—
University of Akron
Ashland University
Baldwin-Wallace College
Colleges & Universities Toronto Bryant & Stratton College
Case Western Reserve University
Cleveland Institute of Art
College/University
Cleveland Institute of Music
150-Mile Radius
Cleveland State University
Northeast Ohio Buffalo
Canada Cuyahoga Community College
Hiram College
ITT Educational Services, Inc.
Detroit
Michigan John Carroll University
Erie New York
Kent State University
Lake Erie College
Lakeland Community College
Toledo Lorain County Community
Cleveland College District
Malone College
Akron Youngstown Mount Union College
Pennsylvania
Myers University
Canton North Central State College
Northeastern Ohio Universities
Pittsburgh Colleges of Medicine
Notre Dame College of Ohio
Ohio Oberlin College
Columbus
Siegal College of Judaic Studies
Dayton Stark State College of Technology
Ursuline College
Virginia Marti College
Walsh University
Cincinnati Source: IPEDS The College of Wooster
Youngstown State University
Plus, you’re only a short drive away
from other esteemed universities—
University of Cincinnati
University of Michigan
The Ohio State University
University of Pittsburgh
10
11. versities universities2
29 colleges and
+ + million tale
2 million talented workers
equals a smar
equals a smart, productive,
multicultural workforce
Northeast Ohio features an educated talent base with degrees and Ph.D.s from world-renowned colleges
and universities offering nationally ranked programs.
• 26,000 degrees awarded annually
• 175,000 degree-seeking students
• 28,000 faculty and staff
• Case Western Reserve Weatherhead School of Management is ranked the world’s best place
to study organizational behavior
• University of Akron Polymer Science and Polymer Engineering Program is ranked the #2
polymer science program in the country
• Oberlin College boasts the highest rate of graduates to earn Ph.D.s
Natural Rscs & Mining Construction
1% 4%
Total Employment by NAICS Industry Group (2007)
The Cleveland Plus® workforce is comprised
of genuine people with an innovative spirit, Government
Other Services
willing to roll up their sleeves and get the 4% 14%
job done. Manufacturing
15%
Northeast Ohio features one of the world’s
largest financial sectors and one of the Leisure & Hospitality
nation’s largest legal communities, along 9% Trade, Trans, & Utils
with growing professional and technical 18%
services, skilled laborers and a diverse, Edu & Hlth Services
multilingual talent base. Our extensive 15%
background in advanced manufacturing,
innovative research and design,
engineering and maximized productivity
is an ideal combination for growth. Information
2%
Prof & Bus Services Financial Activities
12% 6%
11 clevelandplusbusiness.com
12. 3 major sports teams
+ world-renowned arts, culture and
UNEQUALED QUALITY OF LIFE
+ a low cost of living
equals a rich,
3 major league sports teams
+ world-renowned arts, culture and health care
yet affordable, life
+ a low cost of living
equals a rich,
yet affordable, lifestyle
It all adds up to a unique quality of life in Northeast Ohio.
• Average commute is 24 minutes
• 120 ethnic communities
• Median home sale price is $138,500
• U.S.News and World Report top-ranked hospitals, including Cleveland Clinic, University Hospitals
Case Medical Center and Rainbow Babies & Children’s Hospital and Summa Health System;
also known for Akron General Medical Center and Akron Children’s Hospital
Plus, our region features professional networks and human capital development that connect civic-minded
individuals with business and community enhancement opportunities.
• Regional leadership opportunities for the emerging, current and experienced professional
• Professionals of all ages and experience levels can engage in and lead community groups
• One of the nation’s most philanthropic communities
• More than 25 young professional groups
Cost of living is more than 10% below the national average.
Cleveland was ranked the most livable city in the U.S. in 2005 by The Economist.
The largest performing arts center in the country outside of New York City.
The Cleveland Orchestra is ranked one of the top three orchestras in the world.
RTA public transportation voted the best in the U.S. in 2007.
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13. d health care
COMPANY: “The quality of life offered by Northeast Ohio
Ben Venue Laboratories, Inc. couldn’t be better for our employees. Housing is
LOCATION: very affordable with many different community
Bedford, OH options. The region supports the arts, history,
estyle INDUSTRY:
Pharmaceutical
Manufacturing
NUMBER OF EMPLOYEES:
1,118
culture, entertainment, sports and so much
more, giving many choices to our employees.”
Thomas J. Murphy
President and COO
Plus, there’s something for everyone—
The Arts Attractions
Akron Art Museum Alpine Valley Ski Resort
Akron Symphony Amish Country
The Butler Institute of American Art Blossom Music Center
Canton Symphony Boston Mills/Brandywine Ski Resort
Cleveland Museum of Art Cedar Point
Cleveland Museum of Natural History Cuyahoga Valley National Park
Cleveland Orchestra Firestone Country Club
Playhouse Square Lake Erie
Stan Hywett Hall and Garden National Inventors Hall of Fame
Youngstown Symphony Orchestra Pro Football Hall of Fame
Rock and Roll Hall of Fame
and Museum
Snow Trails Ski Resort
Thistledown Thoroughbred Racing
Wine Country
Events Professional Sports
Cleveland Grand Prix Akron Aeros
Cleveland National Air Show Cleveland Browns
Honda Indy 200 and Supercycle Weekend Cleveland Cavaliers
at Mid–Ohio Sports Car Course Cleveland Indians
Ingenuity Fest Lake County Captains
National City Home and Garden Show Lake Erie Monsters
Pro Football Hall of Fame Festival
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