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QUARTERLY
ECONOMIC
UPDATE
Q1 2014
columbusregion.com 614-225-6063
TABLE OF CONTENTS
Employment, labor force and unemployment . . . . . . . . . . . .2
Employment by industry. . . . . . . . . . . . . . . . . . . . . . . . . 3
Current employment statistics revisions . . . . . . . . . . . .5
Commercial real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Airport passengers and cargo . . . . . . . . . . . . . . . . . . . . .7
Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
GDP and inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Columbus 2020 performance. . . . . . . . . . . . . . . . . . . . . .11
Notable expansions and locations . . . . . . . . . . . . . . . . . .13
1
QUARTERLY ECONOMIC UPDATE | Q1 2014
The Columbus 2020 economic update for the
first quarter of 2014 covers regional economic
data and economic development activities
from January to March. The analysis of the
regional economy (pages 1 to 9) was prepared
by Bill LaFayette, Ph.D., RegionomicsTM LLC.
FOREWORD
By Frank Wojcik
Senior Portfolio Manager, Fifth Third Private Bank
Despite a harsh winter that negatively impacted many parts of Ohio and
during the first quarter of 2014 with the unemployment rate declining to
4.9 percent in March from 5.8 percent in December. Because of a
diverse and sustainable economic base, the Central Ohio job
environment remains more constructive than the majority of Ohio and
the United States. With total payroll employment now approaching one
million, we are steadily increasing our importance as a metropolitan
area.
Employment increased in logistics, healthcare, leisure and government
services, while severe winter weather negatively impacted retail and
housing related activities. Expectations are that real estate construction
will resume in the coming months and job creation should accelerate in
these areas. Also being watched with curiosity is the potential impact of
the Utica Shale drilling in eastern Ohio. Several Central Ohio firms are
involved in the exploration and distribution of oil and natural gas. A
successful energy production outcome should result in further job
creation associated with these activities.
Several years ago Central Ohio leaders from government, business and
education formulated a plan to invest in job training, education,
infrastructure and redevelopment of neglected neighborhoods. We are
now beginning to reap the rewards of a collaborative effort by the
people in our community who did not wait for the local economy to
recover, but made the recovery happen. Congratulations and thanks to
all involved for their hard work and foresight. While many parts of the
U.S. and the world are striving to recover from the recession levels,
Central Ohio has exceeded prior peak levels of economic growth,
setting an example for other cities on how to structure sustainable
growth.
TOTAL PAYROLL EMPLOYMENT
Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Source: Local Area Unemployment Statistics, Bureau of Labor Statistics.
Seasonal adjustment of MSA employment by Regionomics LLC. Seasonal adjustment of regional rate by Regionomics LLC.
COLUMBUS REGION LABOR FORCE
Source: Local Area Unemployment Statistics, Bureau of Labor Statistics.
Seasonal adjustment of regional rate by Regionomics LLC.
2
QUARTERLY ECONOMIC UPDATE | Q1 2014
EMPLOYMENT, LABOR FORCE, UNEMPLOYMENT RATES
COLUMBUS REGION UNEMPLOYMENT
RATE
 Columbus MSA employment increases less than
average in the first quarter: Columbus MSA
employment in March was 982,800, which is 1,800
(0.2 percent) higher than in December. Ohio
employment increased 0.3 percent and U.S.
employment increased 0.4 percent. Employment
growth over the past 12 months was 11,800 (1.2
percent) for the MSA, 1.0 percent for Ohio, and 1.7
percent for the U.S.
 Regional unemployment rate declines: The 11-
-adjusted
unemployment rate fell from 5.8 percent in December
to 4.9 percent in March. The December rate was lower
than both the 6.1 percent Ohio unemployment rate
and the 6.7 percent U.S. rate.
 The decline in the Columbus Region unemployment
rate was driven both by a decline of 3,600 in the labor
force and an increase of 6,700 in the number of
employed residents.
 Gap between normal and actual labor force
growth increases: The difference between reported
labor force and the level assuming normal growth
increased from 47,000 in December to 54,000 in
March.
98
100
102
104
106
108
110
112
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
0%
2%
4%
6%
8%
10%
12%
1/08
5/08
9/08
1/09
5/09
9/09
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Columbus Region Ohio U.S.
900
950
1,000
1,050
1,100
1,150
1/08
5/08
9/08
1/09
5/09
9/09
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Thousands
Labor force
Labor force, normal growth
Resident employment
MANUFACTURING
*Excluding computer design and related services.
PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN & RELATED SERVICES FINANCE & INSURANCE
Source: Current Employment Statistics, U.S. Bureau of Labor Statistics.
Seasonal adjustment of MSA employment by Regionomics LLC.
3
QUARTERLY ECONOMIC UPDATE | Q1 2014
EMPLOYMENT BY INDUSTRY
LOGISTICS: TRANSPORTATION,
WAREHOUSING & WHOLESALE
MSA SHARE OF EMPLOYMENT BY INDUSTRY,
MARCH 2014
Logistics
8.9% Manufacturing
7.0%
Professional &
business svcs*
14.5%
Computer
design &
related svcs
1.8%
Finance &
insurance
6.2%Healthcare &
social
assistance
12.4%
Leisure &
hospitality
10.2%
Government
16.8%
Retail trade
10.0%
Other
12.2%
96
98
100
102
104
106
108
110
112
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0 Columbus MSA Ohio U.S.
98
100
102
104
106
108
110
112
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
95
100
105
110
115
120
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
98
100
102
104
106
108
110
112
114
116
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
95
100
105
110
115
120
125
130
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
LEISURE & HOSPITALITY
QUARTERLY EMPLOYMENT CHANGE BY INDUSTRY GOVERNMENT RETAIL TRADE
Industry MSA empl. chg. OH US
% % %
Manufacturing +0.4 +0.5 +0.2
Retail trade 0.0 -1.5 0.0
Logistics -0.8 +0.3 +0.5
Finance & insurance -2.0 -0.7 -0.1
Professional & business services -1.9 +1.3 +1.0
Computer design & related svcs. 0 0.0 -0.7 +1.0
Healthcare & social assistance +2.5 +0.4 +0.4
Leisure & hospitality +1.1 +1.4 +0.6
Government +1.1 -0.5 -0.1
4
HEALTHCARE & SOCIAL ASSISTANCE
QUARTERLY ECONOMIC UPDATE | Q1 2014
EMPLOYMENT BY INDUSTRY (continued)
-3,200
-1,300
0
No.
-700
+300
+1,100
+1,800
+3,000
 Charts on pages 2 and 3 show Columbus MSA
employment growth compared to state and national
averages since the beginning of 2010.
 Above-average gains in healthcare, leisure and
government together accounted for an increase of
5,900 jobs during the first quarter.
 Of the 1,800-job gain in government, 1,400 was due to
state government, which has driven the above-
average growth of government employment since
2010.
 Within business services, administrative support lost
2,300 jobs, professional and technical services
(including computer services) lost 700, and corporate
administration lost 200.
95
100
105
110
115
120
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
95
100
105
110
115
120
125
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
94
96
98
100
102
104
106
108
110
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
98
100
102
104
106
108
110
1/10
5/10
9/10
1/11
5/11
9/11
1/12
5/12
9/12
1/13
5/13
9/13
1/14
Index:1/08=100.0
Columbus MSA Ohio U.S.
TOTAL PAYROLL EMPLOYMENT MONTHLY TOTAL PAYROLL EMPLOYMENT ANNUALLY
Seasonal adjustment by Regionomics LLC.
MANUFACTURING WHOLESALE TRADE RETAIL TRADE
Source: Current Employment Statistics, U.S. Bureau of Labor Statistics.
5
QUARTERLY ECONOMIC UPDATE | Q1 2014
CURRENT EMPLOYMENT STATISTICS REVISIONS
 The Bureau of Labor Statistics released its annual
revision of the monthly Current Employment Statistics
in March. As in recent years, Columbus MSA
employment was revised significantly upward.
Average 2012 employment was increased by 6,200
and 2013 employment was increased by 17,100 (1.8
percent).
 Employment estimates for 2013 were revised upward
for most sectors, especially retail trade (3,700),
financial activities (3,300), government (3,100) and
professional and business services (2,900).
 Employment totals for 2012 are final, while 2013 will be
revised again next year. Employment will be
comprehensively restated next March, however, to
reflect the addition of Hocking and Perry counties to
60.0
62.0
64.0
66.0
68.0
70.0
72.0
74.0
76.0
78.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
36.5
37.0
37.5
38.0
38.5
39.0
39.5
40.0
40.5
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
900.0
910.0
920.0
930.0
940.0
950.0
960.0
970.0
980.0
990.0
1/11
4/11
7/11
10/11
1/12
4/12
7/12
10/12
1/13
4/13
7/13
10/13
Thousands
Pre-rev. Post-rev.
880.0
900.0
920.0
940.0
960.0
980.0
1,000.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
92.0
94.0
96.0
98.0
100.0
102.0
104.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
TRANSPORTATION & UTILITIES FINANCIAL ACTIVITIES PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN SERVICES
EDUCATION & HEALTH SERVICES LEISURE & HOSPITALITY OTHER SERVICES GOVERNMENT
Source: Current Employment Statistics, U.S. Bureau of Labor Statistics.
6
QUARTERLY ECONOMIC UPDATE | Q1 2014
CURRENT EMPLOYMENT STATISTICS REVISIONS (continued)
40.0
42.0
44.0
46.0
48.0
50.0
52.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
68.0
69.0
70.0
71.0
72.0
73.0
74.0
75.0
76.0
77.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
142.0
147.0
152.0
157.0
162.0
167.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
14.0
14.5
15.0
15.5
16.0
16.5
17.0
17.5
18.0
18.5
19.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
105.0
110.0
115.0
120.0
125.0
130.0
135.0
140.0
145.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
84.0
86.0
88.0
90.0
92.0
94.0
96.0
98.0
100.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
35.0
35.5
36.0
36.5
37.0
37.5
38.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
148.0
150.0
152.0
154.0
156.0
158.0
160.0
162.0
164.0
166.0
2007
2008
2009
2010
2011
2012
2013
Thousands
Pre-rev. Post-rev.
INDUSTRIAL REAL ESTATE VACANCY RATES PORT COLUMBUS INTL. AIRPORT PASSENGERS
Source: CB Richard Ellis. Source: Columbus Regional Airport Authority.
OFFICE VACANCY RATES RICKENBACKER INTL. AIRPORT CARGO HANDLED
Source: CB Richard Ellis. Source: Columbus Regional Airport Authority.
7
AIRPORT PASSENGERS & CARGOCOMMERCIAL REAL ESTATE
QUARTERLY ECONOMIC UPDATE | Q1 2014
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
22.0
2007-Q1
2007-Q3
2008-Q1
2008-Q3
2009-Q1
2009-Q3
2010-Q1
2010-Q3
2011-Q1
2011-Q3
2012-Q1
2012-Q3
2013-Q1
2013-Q3
Percent
Columbus U.S.
1,250
1,300
1,350
1,400
1,450
1,500
1,550
1,600
1,650
1,700
1,750
Q1 Q2 Q3 Q4
ThousandsofPassengers
2010 2011 2012 2013 2014
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
Q1 Q2 Q3 Q4
ThousandsofPounds
2010 2011 2012 2013 2014
10.0
12.0
14.0
16.0
18.0
20.0
22.0
2007-Q1
2007-Q3
2008-Q1
2008-Q3
2009-Q1
2009-Q3
2010-Q1
2010-Q3
2011-Q1
2011-Q3
2012-Q1
2012-Q3
2013-Q1
2013-Q3
Percent
Columbus U.S.
Source: U.S. Census Bureau. Source: Columbus Board of Realtors.
CHANGE IN RESIDENTIAL SALES FROM SAME QUARTER PREVIOUS YEAR
Source: Columbus Board of Realtors, National Association of Realtors.
8
RESIDENTIAL SALES, COLUMBUS MLS
AREA
RESIDENTIAL BUILDING PERMITS,
COLUMBUS MSA
QUARTERLY ECONOMIC UPDATE | Q1 2014
HOUSING
 Building permits down sharply from a year ago.
Building permits issued in the Columbus MSA were
down 31.5 percent from the same months of 2013,
compared to a 6.6 percent U.S. increase. The decline
was driven largely by a spike in units in the volatile
multi-unit category this time last year. Units in multi-
unit structures accounted for 46 percent of local
permits, compared to 39 percent of national permits.
For the year, permits were up 14 percent locally and 16
percent nationally.
 Single-unit permits issued during the first quarter
were down 2.1 percent from a year ago, compared
to a 0.2 percent drop nationwide.
 Home sales in Columbus during the first quarter off
7.0 percent from a year ago: Home sales in the
Columbus Multiple Listing Service (MLS) area (larger
than and somewhat different from the Region) totaled
4,577 during the first quarter, compared to 4,920 in
2013. Sales nationwide during the quarter were down
6.6 percent from last year, and were down 9.9 percent
in the Midwest.
 The dollar volume of home sales in the Columbus MLS
area totaled $740 million during the first quarter, down
2.8 percent from the same quarter last year.
0
500
1,000
1,500
2,000
2,500
3,000
Q1 Q2 Q3 Q4
NumbnerofPermits
2010 2011 2012 2013 2014
0
1,600
3,200
4,800
6,400
8,000
9,600
Q1 Q2 Q3 Q4
NumbnerofSales
2010 2011 2012 2013 2014
-30%
-20%
-10%
0%
10%
20%
30%
40%
2008-Q1
2008-Q2
2008-Q3
2008-Q4
2009-Q1
2009-Q2
2009-Q3
2009-Q4
2010-Q1
2010-Q2
2010-Q3
2010-Q4
2011-Q1
2011-Q2
2011-Q3
2011-Q4
2012-Q1
2012-Q2
2012-Q3
2012-Q4
2013-Q1
2013-Q2
2013-Q3
2013-Q4
2014-Q1
PercentChange
Columbus MLS
U.S.
MSA HOUSE PRICE CHANGE, 1ST QUARTER 2007 TO 4TH QUARTER 2013
MSA HOUSE PRICE CHANGE, 2ND QUARTER 2011 TO 4TH QUARTER 2013
Source: Federal Housing Finance Agency House Price Index.
9
QUARTERLY ECONOMIC UPDATE | Q1 2014
HOUSING (continued)
FHFA HOUSE PRICE INDEX, 1ST QUARTER 2007 -
4TH QUARTER 2013
 House prices in Columbus higher year-over-year:
Columbus MSA house prices in the third quarter were
up 8.8 percent from a year earlier, compared to gains
of 5.3 percent in Ohio and 7.6 percent at the national
level. The local change ranked 33rd among the 64
million-plus regions in the U.S.
 Columbus MSA house prices above pre-recession
peak: As shown in the chart to the right, the Federal
Housing Finance Agency (FHFA) index for Columbus
showed a 0.9 percent net gain for from the pre-
recession house price peak in the first quarter of 2007.
Of the 64 major MSAs nationwide, 17 others have
surpassed their previous peak.
-8.7%
0.9%
-40% -30% -20% -10% 0% 10% 20% 30%
Jacksonville
Chicago
Detroit
San Diego
Minneapolis
Milwaukee
Cleveland
St. Louis
Kansas City
United States
Cincinnati
Raleigh
Columbus
Nashville
Indianapolis
Charlotte
Oklahoma City
Pittsburgh
Austin
12.2%
13.0%
0% 5% 10% 15% 20% 25% 30% 35% 40%
Milwaukee
Cincinnati
Oklahoma City
Cleveland
Raleigh
Pittsburgh
St. Louis
Chicago
Columbus
Indianapolis
United States
Kansas City
Jacksonville
Nashville
Charlotte
Minneapolis
Austin
San Diego
Detroit
75
80
85
90
95
100
105
2007-Q1
2007-Q3
2008-Q1
2008-Q3
2009-Q1
2009-Q3
2010-Q1
2010-Q3
2011-Q1
2011-Q3
2012-Q1
2012-Q3
2013-Q1
2013-Q3
Index:1stQtr.2007=100.0
Columbus MSA Ohio U.S
HISTORIC AND FORECAST U.S. GDP; HISTORIC PERSONAL CONSUMPTION
Source: U.S. Bureau of Economic Analysis, Wall Street Journal Economic Forecasting Survey.
CPI INFLATION, LARGE MIDWEST CITIES
Source: Consumer Price Index (CPI-U), U.S. Bureau of Labor Statistics
10
QUARTERLY ECONOMIC UPDATE | Q1 2014
GDP AND INFLATION
 U.S. GDP growth slows to a crawl in the first
quarter. Gross domestic product (GDP) grew at a 0.1
percent annual pace in the first quarter, weaker than
expected and its slowest pace in more than a year.
Major reasons for the weakness were a drawdown in
inventories and a decline in exports, which together
subtracted 1.7 percentage points from growth. Personal
consumption, however, was stable with growth of 3.0
percent.
 Economists expect economic strength into early
2015: The April Wall Street Journal economic
forecasting survey expected GDP growth to remain at
around a three percent pace through the second
quarter of 2015. Three-quarters of the economists
polled continued to believe that their forecast is more
likely to be too low than too high.
 Consumer sentiment improving: The Thomson
Reuters/University of Michigan Index of Consumer
Sentiment increased in April to 84.2, its highest level
since July. The index was 81.2 in January.
 Overall inflation rose to 1.2 percent from 0.9 percent in
the fourth quarter, driven by higher food prices. Core
inflation, which excludes both food and energy, fell
from 1.5 percent to 1.3 percent.
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
2010-Q1
2010-Q2
2010-Q3
2010-Q4
2011-Q1
2011-Q2
2011-Q3
2011-Q4
2012-Q1
2012-Q2
2012-Q3
2012-Q4
2013-Q1
2013-Q2
2013-Q3
2013-Q4
2014-Q1
2014-Q2
2014-Q3
2014-Q4
2015-Q1
2015-Q2
AnnualizedChange(Percent)
GDP
Personal Cons.
Exp.
0%
1%
1%
2%
2%
3%
3%
4%
4%
2010-Q1
2010-
Q2
2010-
Q3
2010-
Q4
2011-Q1
2011-Q2
2011-Q3
2011-Q4
2012-Q1
2012-Q2
2012-Q3
2012-Q4
2013-Q1
2013-Q2
2013-Q3
2013-Q4
2014-Q1
AnnualizedChange(Percent)
All items
Excl. food &
energy (core)
PROJECTS ACTIVE AT END OF EACH MONTH
11
NUMBER OF PROJECTS STARTED
(2013 v. 2014)
FIRST-TIME VISITS (2013 v. 2014)
QUARTERLY ECONOMIC UPDATE | Q1 2014
COLUMBUS 2020 PERFORMANCE | PROJECTS JAN-MAR 2014
PROJECTS ACTIVE AT END OF EACH MONTH
BY SECTOR
In the first quarter of 2014, Columbus 2020 added 64 new
projects to the pipeline and hosted nine first-time visits
from companies and/or their location consultants.
Columbus 2020 had 154 active projects at the end of
March 2014. Headquarters and business services
represented 48 percent of projects at the end of March,
followed by manufacturing with 36 percent.
67 70
51
98
105 103
0
20
40
60
80
100
120
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Existing New
0
20
40
60
80
100
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Manufacturing HQ & Business Services
Logistics Science & Technology
23
28
17
25
29
16
22
19
17
20
16
2020
24
20
0
10
20
30
40
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
0
4
8
12
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2013 2014
2014 Q2 PLANNED ACTIVITIES
12
QUARTERLY ECONOMIC UPDATE | Q1 2014
2014 Q1 COMPLETED ACTIVITIES
COLUMBUS 2020 PERFORMANCE | DEVELOPMENT ACTIVITIES JAN-MAR 2014
EXISTING BUSINESS VISITS CONDUCTED BY
SECTOR
EXISTING BUSINESS VISITS CONDUCTED BY
PLACE
In the first quarter of 2014, the Columbus 2020 team
visited nine U.S. cities and Canada. Visits included business
development missions, industry conferences, existing
headquarter visits and consultant and active project calls.
In the second quarter of 2014, the Columbus 2020 team
will visit 12 U.S. cities, as well as international trips to China,
Japan, Korea, Sweden and the UK.
Larger share of retention visits to manufacturers
The Columbus 2020 team and our local economic
development partners conducted a combined total of 87
visits to businesses in the Region during the first quarter of
2014.
In the first quarter of 2014, 47 manufacturing companies
received the most visits, more than half the total count.
This is a significantly higher share than previous years.
0
5
10
15
20
25
Columbus
Dublin
Delaware
Westerville
Worthington
RestofFranklinCounty
RestofDelawareCounty
KnoxCounty
RestofRegion
Columbus 2020 Local ED Partner Both
44%
47%
56%
28%
23%
23%
12%
15%
11%
16%
15%
11%
2012
2013
Q1 2014
Manufacturing HQ & Business Services
Logistics Science & Technology
13
ED PROJECT ANNOUNCEMENTS, COUNT
BY MUNICIPALITY
ED PROJECT ANNOUNCEMENTS, COUNT
BY PLACE
ED PROJECT ANNOUNCEMENTS - JOB
CREATION
QUARTERLY ECONOMIC UPDATE | Q1 2014
ED PROJECT ANNOUNCEMENTS BY
SECTOR
NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014
Columbus 2020 tracks economic development project
announcements in the Columbus Region. In the first quarter of 2014,
there were 23 project announcements yielding 2,363 jobs created or
retained.
Manufacturing and logistics projects represented 43 and 26 percent
of projects, respectively, in the first quarter. These figures are higher
than previous years, reducing the share of office and technology
projects.
International projects comprise 17 percent of announcements in 2014
537
1,113
713
0
300
600
900
1,200
1,500
Attract Expand Retain
5
3 3 3
9
0
3
6
9
12
Columbus Groveport Marysville Rest of
Franklin
Rest of
Region
33%
38%
43%
35%
32%
22%
20%
19%
26%
12%
11%
9%
2012
2013
Q1 2014
Manufacturing HQ & Business Services
Logistics Science & Technology
COMPANY DESCRIPTION CITY CTY. NO. JOBS
Bradley Corporation Partitions, lockers Marion Marion
Daifuku America Corporation Material handling and automation solutions Reynoldsburg Franklin
Divelbiss Corporation Programmable logic controllers Fredericktown Knox
Exel, Inc Supply chain management services Westerville Delaware
Famous Enterprises Building products Columbus Franklin
Gandee & Associates Engineering services Westerville Franklin
Gwynnie Bee Fulfillment center of high fashion, plus-size apparel Groveport Franklin
Handgards Food service and handling products Groveport Franklin
Heritage Cooperative Member-owned agriculture cooperative Marysville Union
Honda of America Mfg., Inc. Technical training center and leadership office Marysville Union
The Kroger Co. Bakery Columbus Franklin
L Brands Inc. Personal care and beauty products, accessories New Albany Licking
Liberty Casting Castings of steel, aluminum, iron Delaware Delaware
NBBJ Architecture and urban design firm Columbus Franklin
Ohio Metal Technologies Components for transportation industry Hebron Licking
Owens Corning Manufacturer of thermal and acoustical insulation Newark Licking
PeopleToMySite.com LLC (The Shipyard) Information services and software Columbus Franklin
Petsmart Pet supplies Groveport Franklin
Scientific Expert Analysis Provider of scientific research, testimony, other services Columbus Franklin
Sumitomo Electric Wiring Systems, Inc. Wiring harness, terminals and connectors Marysville Union
West Ohio Tool Co. Drill bits Russells Point Logan
Wyandot Inc. Snack foods Marion Marion
Zulily Inc. E-commerce fulfillment center Obetz Franklin
14
Expansion
Retention/Expansion
Expansion
11
Retention
28
50
100
624 Expansion
20
Expansion
QUARTERLY ECONOMIC UPDATE | Q1 2014
NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014
TYPE
80 Expansion
80 Expansion
3
Attraction
Expansion
25
9 Expansion
52 Expansion
16 Expansion
66 Attraction
401
Expansion
Expansion
Attraction
Attraction
Expansion
0
30
0
100
500 Expansion
20
10 Expansion
Expansion
138 Retention/Expansion

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Quarterly Economic Update | Q1 2014

  • 2. TABLE OF CONTENTS Employment, labor force and unemployment . . . . . . . . . . . .2 Employment by industry. . . . . . . . . . . . . . . . . . . . . . . . . 3 Current employment statistics revisions . . . . . . . . . . . .5 Commercial real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Airport passengers and cargo . . . . . . . . . . . . . . . . . . . . .7 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 GDP and inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Columbus 2020 performance. . . . . . . . . . . . . . . . . . . . . .11 Notable expansions and locations . . . . . . . . . . . . . . . . . .13 1 QUARTERLY ECONOMIC UPDATE | Q1 2014 The Columbus 2020 economic update for the first quarter of 2014 covers regional economic data and economic development activities from January to March. The analysis of the regional economy (pages 1 to 9) was prepared by Bill LaFayette, Ph.D., RegionomicsTM LLC. FOREWORD By Frank Wojcik Senior Portfolio Manager, Fifth Third Private Bank Despite a harsh winter that negatively impacted many parts of Ohio and during the first quarter of 2014 with the unemployment rate declining to 4.9 percent in March from 5.8 percent in December. Because of a diverse and sustainable economic base, the Central Ohio job environment remains more constructive than the majority of Ohio and the United States. With total payroll employment now approaching one million, we are steadily increasing our importance as a metropolitan area. Employment increased in logistics, healthcare, leisure and government services, while severe winter weather negatively impacted retail and housing related activities. Expectations are that real estate construction will resume in the coming months and job creation should accelerate in these areas. Also being watched with curiosity is the potential impact of the Utica Shale drilling in eastern Ohio. Several Central Ohio firms are involved in the exploration and distribution of oil and natural gas. A successful energy production outcome should result in further job creation associated with these activities. Several years ago Central Ohio leaders from government, business and education formulated a plan to invest in job training, education, infrastructure and redevelopment of neglected neighborhoods. We are now beginning to reap the rewards of a collaborative effort by the people in our community who did not wait for the local economy to recover, but made the recovery happen. Congratulations and thanks to all involved for their hard work and foresight. While many parts of the U.S. and the world are striving to recover from the recession levels, Central Ohio has exceeded prior peak levels of economic growth, setting an example for other cities on how to structure sustainable growth.
  • 3. TOTAL PAYROLL EMPLOYMENT Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Source: Local Area Unemployment Statistics, Bureau of Labor Statistics. Seasonal adjustment of MSA employment by Regionomics LLC. Seasonal adjustment of regional rate by Regionomics LLC. COLUMBUS REGION LABOR FORCE Source: Local Area Unemployment Statistics, Bureau of Labor Statistics. Seasonal adjustment of regional rate by Regionomics LLC. 2 QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT, LABOR FORCE, UNEMPLOYMENT RATES COLUMBUS REGION UNEMPLOYMENT RATE  Columbus MSA employment increases less than average in the first quarter: Columbus MSA employment in March was 982,800, which is 1,800 (0.2 percent) higher than in December. Ohio employment increased 0.3 percent and U.S. employment increased 0.4 percent. Employment growth over the past 12 months was 11,800 (1.2 percent) for the MSA, 1.0 percent for Ohio, and 1.7 percent for the U.S.  Regional unemployment rate declines: The 11- -adjusted unemployment rate fell from 5.8 percent in December to 4.9 percent in March. The December rate was lower than both the 6.1 percent Ohio unemployment rate and the 6.7 percent U.S. rate.  The decline in the Columbus Region unemployment rate was driven both by a decline of 3,600 in the labor force and an increase of 6,700 in the number of employed residents.  Gap between normal and actual labor force growth increases: The difference between reported labor force and the level assuming normal growth increased from 47,000 in December to 54,000 in March. 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 0% 2% 4% 6% 8% 10% 12% 1/08 5/08 9/08 1/09 5/09 9/09 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Columbus Region Ohio U.S. 900 950 1,000 1,050 1,100 1,150 1/08 5/08 9/08 1/09 5/09 9/09 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Thousands Labor force Labor force, normal growth Resident employment
  • 4. MANUFACTURING *Excluding computer design and related services. PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN & RELATED SERVICES FINANCE & INSURANCE Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. Seasonal adjustment of MSA employment by Regionomics LLC. 3 QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT BY INDUSTRY LOGISTICS: TRANSPORTATION, WAREHOUSING & WHOLESALE MSA SHARE OF EMPLOYMENT BY INDUSTRY, MARCH 2014 Logistics 8.9% Manufacturing 7.0% Professional & business svcs* 14.5% Computer design & related svcs 1.8% Finance & insurance 6.2%Healthcare & social assistance 12.4% Leisure & hospitality 10.2% Government 16.8% Retail trade 10.0% Other 12.2% 96 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 112 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 112 114 116 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 125 130 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S.
  • 5. LEISURE & HOSPITALITY QUARTERLY EMPLOYMENT CHANGE BY INDUSTRY GOVERNMENT RETAIL TRADE Industry MSA empl. chg. OH US % % % Manufacturing +0.4 +0.5 +0.2 Retail trade 0.0 -1.5 0.0 Logistics -0.8 +0.3 +0.5 Finance & insurance -2.0 -0.7 -0.1 Professional & business services -1.9 +1.3 +1.0 Computer design & related svcs. 0 0.0 -0.7 +1.0 Healthcare & social assistance +2.5 +0.4 +0.4 Leisure & hospitality +1.1 +1.4 +0.6 Government +1.1 -0.5 -0.1 4 HEALTHCARE & SOCIAL ASSISTANCE QUARTERLY ECONOMIC UPDATE | Q1 2014 EMPLOYMENT BY INDUSTRY (continued) -3,200 -1,300 0 No. -700 +300 +1,100 +1,800 +3,000  Charts on pages 2 and 3 show Columbus MSA employment growth compared to state and national averages since the beginning of 2010.  Above-average gains in healthcare, leisure and government together accounted for an increase of 5,900 jobs during the first quarter.  Of the 1,800-job gain in government, 1,400 was due to state government, which has driven the above- average growth of government employment since 2010.  Within business services, administrative support lost 2,300 jobs, professional and technical services (including computer services) lost 700, and corporate administration lost 200. 95 100 105 110 115 120 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 95 100 105 110 115 120 125 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 94 96 98 100 102 104 106 108 110 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S. 98 100 102 104 106 108 110 1/10 5/10 9/10 1/11 5/11 9/11 1/12 5/12 9/12 1/13 5/13 9/13 1/14 Index:1/08=100.0 Columbus MSA Ohio U.S.
  • 6. TOTAL PAYROLL EMPLOYMENT MONTHLY TOTAL PAYROLL EMPLOYMENT ANNUALLY Seasonal adjustment by Regionomics LLC. MANUFACTURING WHOLESALE TRADE RETAIL TRADE Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. 5 QUARTERLY ECONOMIC UPDATE | Q1 2014 CURRENT EMPLOYMENT STATISTICS REVISIONS  The Bureau of Labor Statistics released its annual revision of the monthly Current Employment Statistics in March. As in recent years, Columbus MSA employment was revised significantly upward. Average 2012 employment was increased by 6,200 and 2013 employment was increased by 17,100 (1.8 percent).  Employment estimates for 2013 were revised upward for most sectors, especially retail trade (3,700), financial activities (3,300), government (3,100) and professional and business services (2,900).  Employment totals for 2012 are final, while 2013 will be revised again next year. Employment will be comprehensively restated next March, however, to reflect the addition of Hocking and Perry counties to 60.0 62.0 64.0 66.0 68.0 70.0 72.0 74.0 76.0 78.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 36.5 37.0 37.5 38.0 38.5 39.0 39.5 40.0 40.5 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 900.0 910.0 920.0 930.0 940.0 950.0 960.0 970.0 980.0 990.0 1/11 4/11 7/11 10/11 1/12 4/12 7/12 10/12 1/13 4/13 7/13 10/13 Thousands Pre-rev. Post-rev. 880.0 900.0 920.0 940.0 960.0 980.0 1,000.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 92.0 94.0 96.0 98.0 100.0 102.0 104.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev.
  • 7. TRANSPORTATION & UTILITIES FINANCIAL ACTIVITIES PROFESSIONAL & BUSINESS SERVICES COMPUTER DESIGN SERVICES EDUCATION & HEALTH SERVICES LEISURE & HOSPITALITY OTHER SERVICES GOVERNMENT Source: Current Employment Statistics, U.S. Bureau of Labor Statistics. 6 QUARTERLY ECONOMIC UPDATE | Q1 2014 CURRENT EMPLOYMENT STATISTICS REVISIONS (continued) 40.0 42.0 44.0 46.0 48.0 50.0 52.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 68.0 69.0 70.0 71.0 72.0 73.0 74.0 75.0 76.0 77.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 142.0 147.0 152.0 157.0 162.0 167.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 14.0 14.5 15.0 15.5 16.0 16.5 17.0 17.5 18.0 18.5 19.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 105.0 110.0 115.0 120.0 125.0 130.0 135.0 140.0 145.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 84.0 86.0 88.0 90.0 92.0 94.0 96.0 98.0 100.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 35.0 35.5 36.0 36.5 37.0 37.5 38.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev. 148.0 150.0 152.0 154.0 156.0 158.0 160.0 162.0 164.0 166.0 2007 2008 2009 2010 2011 2012 2013 Thousands Pre-rev. Post-rev.
  • 8. INDUSTRIAL REAL ESTATE VACANCY RATES PORT COLUMBUS INTL. AIRPORT PASSENGERS Source: CB Richard Ellis. Source: Columbus Regional Airport Authority. OFFICE VACANCY RATES RICKENBACKER INTL. AIRPORT CARGO HANDLED Source: CB Richard Ellis. Source: Columbus Regional Airport Authority. 7 AIRPORT PASSENGERS & CARGOCOMMERCIAL REAL ESTATE QUARTERLY ECONOMIC UPDATE | Q1 2014 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Percent Columbus U.S. 1,250 1,300 1,350 1,400 1,450 1,500 1,550 1,600 1,650 1,700 1,750 Q1 Q2 Q3 Q4 ThousandsofPassengers 2010 2011 2012 2013 2014 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 Q1 Q2 Q3 Q4 ThousandsofPounds 2010 2011 2012 2013 2014 10.0 12.0 14.0 16.0 18.0 20.0 22.0 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Percent Columbus U.S.
  • 9. Source: U.S. Census Bureau. Source: Columbus Board of Realtors. CHANGE IN RESIDENTIAL SALES FROM SAME QUARTER PREVIOUS YEAR Source: Columbus Board of Realtors, National Association of Realtors. 8 RESIDENTIAL SALES, COLUMBUS MLS AREA RESIDENTIAL BUILDING PERMITS, COLUMBUS MSA QUARTERLY ECONOMIC UPDATE | Q1 2014 HOUSING  Building permits down sharply from a year ago. Building permits issued in the Columbus MSA were down 31.5 percent from the same months of 2013, compared to a 6.6 percent U.S. increase. The decline was driven largely by a spike in units in the volatile multi-unit category this time last year. Units in multi- unit structures accounted for 46 percent of local permits, compared to 39 percent of national permits. For the year, permits were up 14 percent locally and 16 percent nationally.  Single-unit permits issued during the first quarter were down 2.1 percent from a year ago, compared to a 0.2 percent drop nationwide.  Home sales in Columbus during the first quarter off 7.0 percent from a year ago: Home sales in the Columbus Multiple Listing Service (MLS) area (larger than and somewhat different from the Region) totaled 4,577 during the first quarter, compared to 4,920 in 2013. Sales nationwide during the quarter were down 6.6 percent from last year, and were down 9.9 percent in the Midwest.  The dollar volume of home sales in the Columbus MLS area totaled $740 million during the first quarter, down 2.8 percent from the same quarter last year. 0 500 1,000 1,500 2,000 2,500 3,000 Q1 Q2 Q3 Q4 NumbnerofPermits 2010 2011 2012 2013 2014 0 1,600 3,200 4,800 6,400 8,000 9,600 Q1 Q2 Q3 Q4 NumbnerofSales 2010 2011 2012 2013 2014 -30% -20% -10% 0% 10% 20% 30% 40% 2008-Q1 2008-Q2 2008-Q3 2008-Q4 2009-Q1 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 PercentChange Columbus MLS U.S.
  • 10. MSA HOUSE PRICE CHANGE, 1ST QUARTER 2007 TO 4TH QUARTER 2013 MSA HOUSE PRICE CHANGE, 2ND QUARTER 2011 TO 4TH QUARTER 2013 Source: Federal Housing Finance Agency House Price Index. 9 QUARTERLY ECONOMIC UPDATE | Q1 2014 HOUSING (continued) FHFA HOUSE PRICE INDEX, 1ST QUARTER 2007 - 4TH QUARTER 2013  House prices in Columbus higher year-over-year: Columbus MSA house prices in the third quarter were up 8.8 percent from a year earlier, compared to gains of 5.3 percent in Ohio and 7.6 percent at the national level. The local change ranked 33rd among the 64 million-plus regions in the U.S.  Columbus MSA house prices above pre-recession peak: As shown in the chart to the right, the Federal Housing Finance Agency (FHFA) index for Columbus showed a 0.9 percent net gain for from the pre- recession house price peak in the first quarter of 2007. Of the 64 major MSAs nationwide, 17 others have surpassed their previous peak. -8.7% 0.9% -40% -30% -20% -10% 0% 10% 20% 30% Jacksonville Chicago Detroit San Diego Minneapolis Milwaukee Cleveland St. Louis Kansas City United States Cincinnati Raleigh Columbus Nashville Indianapolis Charlotte Oklahoma City Pittsburgh Austin 12.2% 13.0% 0% 5% 10% 15% 20% 25% 30% 35% 40% Milwaukee Cincinnati Oklahoma City Cleveland Raleigh Pittsburgh St. Louis Chicago Columbus Indianapolis United States Kansas City Jacksonville Nashville Charlotte Minneapolis Austin San Diego Detroit 75 80 85 90 95 100 105 2007-Q1 2007-Q3 2008-Q1 2008-Q3 2009-Q1 2009-Q3 2010-Q1 2010-Q3 2011-Q1 2011-Q3 2012-Q1 2012-Q3 2013-Q1 2013-Q3 Index:1stQtr.2007=100.0 Columbus MSA Ohio U.S
  • 11. HISTORIC AND FORECAST U.S. GDP; HISTORIC PERSONAL CONSUMPTION Source: U.S. Bureau of Economic Analysis, Wall Street Journal Economic Forecasting Survey. CPI INFLATION, LARGE MIDWEST CITIES Source: Consumer Price Index (CPI-U), U.S. Bureau of Labor Statistics 10 QUARTERLY ECONOMIC UPDATE | Q1 2014 GDP AND INFLATION  U.S. GDP growth slows to a crawl in the first quarter. Gross domestic product (GDP) grew at a 0.1 percent annual pace in the first quarter, weaker than expected and its slowest pace in more than a year. Major reasons for the weakness were a drawdown in inventories and a decline in exports, which together subtracted 1.7 percentage points from growth. Personal consumption, however, was stable with growth of 3.0 percent.  Economists expect economic strength into early 2015: The April Wall Street Journal economic forecasting survey expected GDP growth to remain at around a three percent pace through the second quarter of 2015. Three-quarters of the economists polled continued to believe that their forecast is more likely to be too low than too high.  Consumer sentiment improving: The Thomson Reuters/University of Michigan Index of Consumer Sentiment increased in April to 84.2, its highest level since July. The index was 81.2 in January.  Overall inflation rose to 1.2 percent from 0.9 percent in the fourth quarter, driven by higher food prices. Core inflation, which excludes both food and energy, fell from 1.5 percent to 1.3 percent. -2% -1% 0% 1% 2% 3% 4% 5% 6% 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 2014-Q2 2014-Q3 2014-Q4 2015-Q1 2015-Q2 AnnualizedChange(Percent) GDP Personal Cons. Exp. 0% 1% 1% 2% 2% 3% 3% 4% 4% 2010-Q1 2010- Q2 2010- Q3 2010- Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012-Q2 2012-Q3 2012-Q4 2013-Q1 2013-Q2 2013-Q3 2013-Q4 2014-Q1 AnnualizedChange(Percent) All items Excl. food & energy (core)
  • 12. PROJECTS ACTIVE AT END OF EACH MONTH 11 NUMBER OF PROJECTS STARTED (2013 v. 2014) FIRST-TIME VISITS (2013 v. 2014) QUARTERLY ECONOMIC UPDATE | Q1 2014 COLUMBUS 2020 PERFORMANCE | PROJECTS JAN-MAR 2014 PROJECTS ACTIVE AT END OF EACH MONTH BY SECTOR In the first quarter of 2014, Columbus 2020 added 64 new projects to the pipeline and hosted nine first-time visits from companies and/or their location consultants. Columbus 2020 had 154 active projects at the end of March 2014. Headquarters and business services represented 48 percent of projects at the end of March, followed by manufacturing with 36 percent. 67 70 51 98 105 103 0 20 40 60 80 100 120 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Existing New 0 20 40 60 80 100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Manufacturing HQ & Business Services Logistics Science & Technology 23 28 17 25 29 16 22 19 17 20 16 2020 24 20 0 10 20 30 40 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 0 4 8 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014
  • 13. 2014 Q2 PLANNED ACTIVITIES 12 QUARTERLY ECONOMIC UPDATE | Q1 2014 2014 Q1 COMPLETED ACTIVITIES COLUMBUS 2020 PERFORMANCE | DEVELOPMENT ACTIVITIES JAN-MAR 2014 EXISTING BUSINESS VISITS CONDUCTED BY SECTOR EXISTING BUSINESS VISITS CONDUCTED BY PLACE In the first quarter of 2014, the Columbus 2020 team visited nine U.S. cities and Canada. Visits included business development missions, industry conferences, existing headquarter visits and consultant and active project calls. In the second quarter of 2014, the Columbus 2020 team will visit 12 U.S. cities, as well as international trips to China, Japan, Korea, Sweden and the UK. Larger share of retention visits to manufacturers The Columbus 2020 team and our local economic development partners conducted a combined total of 87 visits to businesses in the Region during the first quarter of 2014. In the first quarter of 2014, 47 manufacturing companies received the most visits, more than half the total count. This is a significantly higher share than previous years. 0 5 10 15 20 25 Columbus Dublin Delaware Westerville Worthington RestofFranklinCounty RestofDelawareCounty KnoxCounty RestofRegion Columbus 2020 Local ED Partner Both 44% 47% 56% 28% 23% 23% 12% 15% 11% 16% 15% 11% 2012 2013 Q1 2014 Manufacturing HQ & Business Services Logistics Science & Technology
  • 14. 13 ED PROJECT ANNOUNCEMENTS, COUNT BY MUNICIPALITY ED PROJECT ANNOUNCEMENTS, COUNT BY PLACE ED PROJECT ANNOUNCEMENTS - JOB CREATION QUARTERLY ECONOMIC UPDATE | Q1 2014 ED PROJECT ANNOUNCEMENTS BY SECTOR NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014 Columbus 2020 tracks economic development project announcements in the Columbus Region. In the first quarter of 2014, there were 23 project announcements yielding 2,363 jobs created or retained. Manufacturing and logistics projects represented 43 and 26 percent of projects, respectively, in the first quarter. These figures are higher than previous years, reducing the share of office and technology projects. International projects comprise 17 percent of announcements in 2014 537 1,113 713 0 300 600 900 1,200 1,500 Attract Expand Retain 5 3 3 3 9 0 3 6 9 12 Columbus Groveport Marysville Rest of Franklin Rest of Region 33% 38% 43% 35% 32% 22% 20% 19% 26% 12% 11% 9% 2012 2013 Q1 2014 Manufacturing HQ & Business Services Logistics Science & Technology
  • 15. COMPANY DESCRIPTION CITY CTY. NO. JOBS Bradley Corporation Partitions, lockers Marion Marion Daifuku America Corporation Material handling and automation solutions Reynoldsburg Franklin Divelbiss Corporation Programmable logic controllers Fredericktown Knox Exel, Inc Supply chain management services Westerville Delaware Famous Enterprises Building products Columbus Franklin Gandee & Associates Engineering services Westerville Franklin Gwynnie Bee Fulfillment center of high fashion, plus-size apparel Groveport Franklin Handgards Food service and handling products Groveport Franklin Heritage Cooperative Member-owned agriculture cooperative Marysville Union Honda of America Mfg., Inc. Technical training center and leadership office Marysville Union The Kroger Co. Bakery Columbus Franklin L Brands Inc. Personal care and beauty products, accessories New Albany Licking Liberty Casting Castings of steel, aluminum, iron Delaware Delaware NBBJ Architecture and urban design firm Columbus Franklin Ohio Metal Technologies Components for transportation industry Hebron Licking Owens Corning Manufacturer of thermal and acoustical insulation Newark Licking PeopleToMySite.com LLC (The Shipyard) Information services and software Columbus Franklin Petsmart Pet supplies Groveport Franklin Scientific Expert Analysis Provider of scientific research, testimony, other services Columbus Franklin Sumitomo Electric Wiring Systems, Inc. Wiring harness, terminals and connectors Marysville Union West Ohio Tool Co. Drill bits Russells Point Logan Wyandot Inc. Snack foods Marion Marion Zulily Inc. E-commerce fulfillment center Obetz Franklin 14 Expansion Retention/Expansion Expansion 11 Retention 28 50 100 624 Expansion 20 Expansion QUARTERLY ECONOMIC UPDATE | Q1 2014 NOTABLE EXPANSIONS & LOCATIONS | JAN-MAR 2014 TYPE 80 Expansion 80 Expansion 3 Attraction Expansion 25 9 Expansion 52 Expansion 16 Expansion 66 Attraction 401 Expansion Expansion Attraction Attraction Expansion 0 30 0 100 500 Expansion 20 10 Expansion Expansion 138 Retention/Expansion