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Ohio leads in job growth in April 2010
May 21, 2010
The U.S. Bureau of Labor Statistics reported on May 21 that Ohio added 37,300 jobs in April, more than any other state. Pennsylvania was second, with 34,000 job gains over the March numbers.
The increase in jobs came as the April unemployment rate dipped slightly to 10.9 %, down from 11 % in March. There were job increases across the board, including a 12,300 job increase in manufacturing, according to the data.
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Team Northeast Ohio begins effort to attract businesses from across the globe
May 26, 2010
The Team Northeast Ohio has officially launched its proactive international business attraction effort in May 2010 with new funds, partners and staff to manage the program.
The Team NEO's international business attraction strategy program has been developed in partnership with The Cleveland Foundation to complement existing regional international business attraction efforts by adding focus on attracting new business investment from Europe, Asia and Canada.
The Cleveland Foundation awarded a US$1 million, two-year grant to Team NEO in December 2009 to launch this effort.
CODA automotive plans to open plant in Central Ohio
May 25, 2010
California-based Electric Car Manufacturer CODA Automotive has chosen central Ohio as the site for a planned battery plant. The company announced the opening of the new production facility in Central Ohio to build the lithium ion batteries for their automobiles. This new facility could bring about 1,000 jobs to central Ohio.
Dayton based manufacturer Composite Technologies boosting use of recycled plastics
May 17, 2010
Composite Technologies Co., which uses composite plastics to make consumer products, hopes to double its use of recycled plastic this year. The Dayton based Company uses at least 4.5 million pounds of recycled materials per month and wants to double that in 2010.
Ohio Governor, Mr. Strickland said that the expansion shows how a public-private partnership can create jobs and help Ohio recover from the recession. About 80 % of the plant’s manufacturing output uses recycled materials, keeping them out of landfills.
The Ohio Department of Development’s support for the US$3.2 million expansion included a US$1 million loan and US$52,000 job-creation tax credit. Grants from the State and Dayton totaled a US$175,000.
NuEarth Corp. acquires manufacturing facility in Ohio
May 3, 2010
NuEarth Corp., a Miramar Beach, Florida based manufacturer of green products, announced its entry into an agreement to purchase a 65,923-square-foot manufacturing facility in Alliance, Ohio. NuEarth plans to establish a permanent manufacturing and distributing facility at the site, which is located on approximately 5.6 acres of land.
The facility will provide NuEarth with easy access to major roads such as U.S. 62, I-76, I-77 and I-80, which are within 1 mile from the loading docks of the building, the company noted.
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Ohio Third Frontier approves grant for biomedical project
May 26, 2010
The Ohio Third Frontier Commission has approved an amount of US$20 million in Wright Project grants, including nearly US$9 million for three biomedical projects. The commissioners also approved a fiscal 2011 budget between US$125 million and US$143 million.
Third Frontier is the 10-year, US$1.35 billion program to re-energize Ohio’s economy by investing in projects in five industry clusters, including biomedical.
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Ohio Tourism’s performance data generates positive return on investment
May 20, 2010
According to research conducted by Tourism Economics and Longwoods International on behalf of the Ohio Tourism Division, Ohio grew its number of overnight leisure trips in 2009 by 6 % over 2008.
The research also revealed that as compared to US$12 return on investment in 2008, Ohio Tourism Division’s 2009 paid consumer marketing efforts generated approximately US$360 million in new visitor spending and brought Ohio a return on investment of US$13 in state and local taxes for every US$1 invested in tourism.
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Ohio Companies Vita-Mix Corp., and Rad-Con Inc. wins presidential exporting awards
May 19, 2010
Northeast Ohio based companies Vita-Mix Corp. in Olmsted Falls and Rad-Con Inc. in Cleveland received the President's “E” Award for Exports in recognition of their achievements in supporting export growth.
The award is the highest federal government acknowledgment any American firm or organization can be presented for export success.
Vita-Mix makes high-performance blending equipment for home and commercial use. The company's export sales have increased 80% since 2006. Rad-Con provides furnaces for processing steel. All its 19 employees are involved in exporting, which has grown more than 45% since 2006.
Ohio among top five fuel-cell states
May 2, 2010
According to a report released by Fuel Cells 2000, an organization that promotes fuel cell technology, Ohio is one of the top five fuel-cell states nationally. Ohio with its visionary strategies and financial incentives as well as its suppliers puts the state among the top five nationally for attention to the industry and the jobs it can bring.
The other four States in the top five include California, Connecticut, New York and South Carolina. In the year 2002, Ohio began a focused effort to attract fuel cell companies and since than it has invested over US$85 million in the fuel cell industry, including US$75 million from the state’s technology-supporting Third Frontier program.
Study says Ohio fares well in tech-job rankings
May 1, 2010
A recently released TechAmerica Foundation’s 13th annual report says that Ohio’s high-tech industry was in the top 10 among all states in gaining jobs for the fourth year in a row. Ohio was eighth-best in adding high-tech jobs between 2007 and 2008 and was ranked 14th nationally for total number of high-tech workers.
Ohio gained a net 4,100 jobs in 2008, the most recent year for which numbers are available at the state level, for an industry total of 170,400 jobs.
The largest job gains occurred in California (15,800) followed by Texas (14,600), Washington (9,300), Massachusetts (6,300) and Virginia (5,700). On a percentage basis, Delaware with 12.8 % had the fastest job growth in 2008.
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US$11 million awarded by Ohio Third Frontier to assist New Technology Projects
May 27, 2010
The Ohio Third Frontier Commission has approved more than US$11 million in Pre-Seed Fund Initiative and Entrepreneurial Signature Program funds to be awarded to six Ohio-based projects.
The funding will make sure that new technology companies does have access to early-stage capital to develop new products and technologies and bring them to market.
The Ohio Third Frontier Pre-Seed Initiative and Entrepreneurial Signature Program are designed to help fill the need for early-stage capital through the establishment of professionally managed, pre-seed capital investment funds to support promising Ohio start-up technology companies in the beginning stages of formation.
Tax credits announced to create and retain more than 1,324 jobs in Ohio
May 24, 2010
Ohio Governor, Mr. Ted Strickland and Director of the Ohio Department of Development, Ms. Lisa Patt-McDaniel announced that the Ohio Tax Credit Authority has approved Job Creation Tax Credits for 11 businesses involved in projects that, if expanded or located in Ohio, are expected to create 1,012 jobs and retain 312 positions for Ohioans.
Ohio announce projects to create and retain 6,851 jobs in the State
May 10, 2010
Ohio businesses and communities will receive more than US$1.5 million in economic development grants to aid business growth, leveraging capital investment of more than US$70 million. The State Controlling Board approved grants administered by the Ohio Department of Development that are expected to create 382 jobs and retain 6,469 positions.
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