The summary provides an overview of economic activity and performance in the Columbus region for May 2013 based on the document:
- 22 new business development projects started in May, with 108 projects year-to-date, continuing strong project and investment activity. A case study highlights G-Tekt Corporation's plans for a new $28.6 million manufacturing facility creating 100 jobs.
- Business retention efforts included 42 business visits in May by regional economic development organizations. A case study covered Proform Industries expanding operations and adding 120 jobs with a $1.2 million investment.
- Other highlights included the launch of a new $300 million venture capital fund by Drive Capital and continued growth in regional patent activity. Unemployment claims declined
2. MAY 2013 PERFORMANCE
CASE STUDY: G-TEKT CORPORATION
Jobs: 100 created
Capital investment: $28.6 million
Facilities: Manufacturing, R&D
1
PROJECTS MAY 2013 AND YEAR-TO-DATE
NUMBER OF PROJECTS (2013 v. 2012) FIRST-TIME VISITS (2013 v. 2012)
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
MAY 2013
22 projects started
- 108 year to date
7 first time visits 25
11
27 24
20
44
16
30
20
23
28
7
19
25
19
23 22
0
10
20
30
40
50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2012 2013
11
6 6 6
9
4
3
6 6
10
4
22
5
4 4
7
0
3
6
9
12
15
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2012 2013
G-Tekt North American Corporation - a manufacturer and
vendor of auto body frame components, heavy gauge
precision stamped parts, and dies and welding equipment
- will invest $28.6 million in the Columbus Region.
G-Tekt will build a 173,000-square foot facility in Madison
County's West Jefferson to manufacture a hot stamping
product new to the U.S. market. In addition, an R&D
facility will be built in Jerome Township in Union County.
Working collaboratively with G-Tekt's six other North
American locations, this facility is expected to generate
77 new jobs.
G-Tekt said it chose the Columbus Region because of its
competitive workforce, central location and proximity to
climate.
3. 2
ACTIVE PROJECTS AS OF MAY 31, 2013
TOTAL ACTIVE PROJECTS
(141 PROJECTS)
EXPANSION PROJECTS:
PROJECTS BY SOURCE
EXPANSION PROJECTS:
PROJECTS BY SECTOR
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
ATTRACTION PROJECTS:
PROJECTS BY SOURCE
ATTRACTION PROJECTS:
DOMESTIC/INTERNATIONAL
ATTRACTION PROJECTS:
SUSPECTS AND PROSPECTS
ATTRACTION PROJECTS:
PROJECTS BY SECTOR
70
16
0
10
20
30
40
50
60
70
80
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.
61%
39%
New Existing
86%
6%
8%
Columbus 2020
Local ED partners
JobsOhio
73%
18%
9%
Columbus 2020
Local ED partners
JobsOhio
28
5
16
6
0
5
10
15
20
25
30
35
37
18
22
9
0
5
10
15
20
25
30
35
40
63%
37%
Domestic International
4. BUSINESS ATTRACTION | DEVELOPMENT ACTIVITIES
MAY 2013 COMPLETED ACTIVITIES
JUNE 2013 PLANNED ACTIVITIES
Minneapolis
MAEDC
New York
Intelligent Community Forum
Pittsburgh
Rapid 2013 - additive manufacturing conference
BUSINESS DEVELOPMENT MISSIONS:
Atlanta
3
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
St. Louis: The 2020 team conducted visits with the headquarters of
a company that has a significant presence in the Columbus Region
and with one of the nation's largest industrial development firms.
Sioux Falls: The 2020 team attended the Mid-America Economic
Development Council's Best Practices Conference.
Charlotte, Columbia, Greenville: The 2020 team met with location
advisors working on active projects. The trip also included
introductory meetings with several high-growth companies.
Washington, D.C.: The 2020 team met with site selection consulting
leads within several global corporate real estate and accounting
firms.
Dallas: The 2020 team met with location advisors and the
headquarters of a company that has a significant presence in the
Columbus Region with an impending project.
UK/France, Japan: In Europe, the 2020 team met with
companies considering investment in the U.S. In Japan, the
team conducted a series of company visits and participated in
SelectUSA seminars in Tokyo, Nagoya and Osaka.
Cincinnati and Pittsburgh: The 2020 team conducted visits with
venture capital firms and business incubators.
, D.C.
5. MAY 2013 Performance:
42 Visits in May (172 YTD)
Visits conducted by:
CASE STUDY: PROFORM INDUSTRIES
Jobs: 120 created
Capital investment: $1.2 million
Facility: Manufacturing
4
BUSINESS RETENTION & EXPANSION | MAY 2013
BUSINESS DEVELOPMENT VISITS CONDUCTED BY LOCATION VISITS CONDUCTED BY SECTOR
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
Proform Industries, an Oklahoma-based producer of fuel
tanks, battery boxes and other container assemblies for
trucks, will add 120 jobs to its Columbus Region facility. This
will triple the current headcount of 58 at the facility on
Georgesville Road. The company will invest $1.2 million to
expand its production facility.
Columbus Region has been important to our success and
growth since we built our first facility there 12 years ago. We
are excited to continue to grow and be a part of that
demand is a key driver for this expansion.
38%
41%
21% Columbus
2020 only
Local ED
partner only
Both 2020
and LEDO
15
6
3
2 2 2
12
0
2
4
6
8
10
12
14
16
8
10
19
5
0
2
4
6
8
10
12
14
16
18
20
6. Source: U.S. Patent and Trademark Office
CASE STUDY: DRIVE CAPITAL
5
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
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.
New venture capital firm Drive Capital, launched by Sequoia
Capital alums Mark Kvamme and Chris Olsen, is reaching out to
limited partners to raise a $300 million fund. Based in Columbus,
the firm will look for deals in the Midwest which, according to
Kvamme, is often underappreciated by firms on the East and
West Coasts. Drive Capital's new fund would be one of the larger
funds in the Midwest, where the average size is $54.5 million.
1,326
1,127
1,363
1,319
500
750
1000
1250
1500
Jan Feb Mar Apr
313
199 186
238
0
50
100
150
200
250
300
350
400
Jan Feb Mar Apr
90
33
98
22
91
18
85
24
Inventor Assignee
Jan Feb Mar Apr
7. 6
TRANSPORTATION & INFRASTRUCTURE
ECONOMIC DEVELOPMENT NEWS
COLUMBUS IN THE NEWS POLICY & ADVOCACY
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
Columbus ranked no. 13 for job growth
Newgeography.com ranks Columbus no. 13 among 66 large
metro areas based on an index of both recent and longer
term job growth. http://bit.ly/143hCty
CEOs rank Ohio business climate most improved in U.S.
Ohio's business climate was the most improved in the nation
in 2012, according to a survey of CEOs around the country
by Chief Executive magazine. http://on.wsj.com/11eoOWn
Ohio a top 10 state for site selection competitiveness
Site Selection magazine ranks Ohio no. 6 based on an index
of announced projects, jobs, capital investment, executive
surveys and workforce data. http://bit.ly/10Zk61l
For all of the latest news, visit:
http://columbusregion.com/news-events-reports/in-the-
media
Industrial Tax Credit Bill
On May 28, the Columbus Chamber provided
testimony to the Ohio House of Representatives'
Economic Development and Regulatory Reform
Committee on the recently introduced House Bill
135. This bill seeks to create a tax credit for the
recovery of unused industrial sites, spurring
renewed manufacturing or other commercial
activity.
Counties and municipalities will have the ability to
apply to the Development Services Agency for
designation of a vacant facility as an "industrial
I-270/Route 33 TIGER grant application
The Columbus Chamber team provided staff
resources to the City of Dublin and Union County on
a TIGER V grant application to receive federal
funding for the Interstate 270 and U.S. Route 33
interchange. The Chamber secured letters of
support from public and private partners for the
application and analyzed data on the economic
impacts of the project. The I-270/Route 33
interchange is vital to the efficiency and health of
the Columbus Region's transportation network and
continued economic growth.
8. Source: Xceligent Source: Columbus Board of Realtors
7
NUMBER OF WEEKLY UNEMPLOYMENT CLAIMS
(WEEK ENDING 3/2/13 TO WEEK ENDING 5/25/13)
COLUMBUS 2020 MONTHLY UPDATE | MAY 2013
REGIONAL ECONOMIC DATA
NUMBER EMPLOYED AND UNEMPLOYMENT RATE (April 2013)
Source: Ohio Department of Job and Family Services
Direct
Asking Rent
(per sf)
Vacancy
Rate
Use
Office 16.7%
COMMERCIAL REAL ESTATE
(AS OF MAY 31)
HOUSING SALES
$15.43
$2.90
$9.28
Industrial
Retail
7.7%
10.0%
Source: U.S. Bureau of Labor Statistics, Local Area Unemployment
Statistics, Seasonally Adjusted
7.4% (-0.2)
Marion
27,056 (-680)
6.8% (-0.7)
Knox
27,626 (+25)
Unemployment
rate
(Apr 2013)
Number
employed
residents
(Apr 2013)
Change from
Apr 2012 to
Apr 2013
4.7% (-0.2)
Delaware
89,373 (+273)
6.1% (-0.1)
Fairfield
70,236 (+220)
6.1% (-0.4)
Franklin
590,229 (+1,862)
6.4% (-0.2)
Licking
79,479 (+247)
6.8% (-0.2)
Madison
18,833 (+60)
7.3% (-0.2)
Morrow
16,151 (+47)
7.2% (-0.4)
Pickaway
22,673 (+71)
5.6% (+0.3)
Union
25,482 (+78)
6.6% (-0.2)
Logan
21,441 (-46)
0
500
1,000
1,500
2,000
2,500
3,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
3/2
3/9
3/16
3/23
3/30
4/6
4/13
4/20
4/27
5/4
5/11
5/18
5/25
Continuing New
3,640
3,068
1,834
$166K
3,965 3,820
2,390
$163K
New
Listings
In
Contracts
Closed
Sales
Average
Sales Price
Apr 2012 Apr 2013