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Ohio exports grew by 7 %, State ranks 7th in the country in terms of exports
24-Feb-2009
According to the U.S. Department of Commerce International Trade Administration officials, exports from the state of Ohio grew by nearly 7 % from 2007. Ohio's export total for 2008 grew to more than US$45 billion, up 6.87 percent.
According to the Department of Development, Ohio is the seventh-largest exporting state in the nation and is the only state to increase exports every year since 1998.
Small businesses come together to keep going in the struggling economy
23-Jan-2009
More than 80 representatives from small businesses in Central Ohio gathered together to get a shot at business in a struggling economy. Program named ‘Contacts to Contracts’ was organized as an effort by the Columbus Chamber to link small local businesses with large regional companies. The program started in July 2008 and is growing quickly due to the economy and the mystery behind getting involved with big business.
Columbus, Ohio headquarters 5 biggest retail brands in US
21-Jan-2009
A new study has revealed that Columbus, Ohio is the home to five of the 50 most valuable retail brands in the U.S. The state has become a hub for retail activity nationally. Columbus has always been known as a very strong, significant leader in retail and there are very few other cities similar in size and population to Columbus with the same kind of concentration of successful retail brands.
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Whirlpool Corporation announced a US$175 million investment
18-Feb-2009
Whirlpool Corporation announced a US$175 million investment in Ohio to integrate new energy-efficient automatic washer platforms. The investment will add nearly 100 new positions to a workforce of 2,500 at their division in the city of Clyde, Sandusky County.
Whirlpool Corporation’s Clyde Division is the largest automatic washer facility in the world and the largest producer of Whirlpool washing machines in North America.
State’s working to bring New York-based Teak furniture manufacturer to Ohio
28-Jan-2009
Furniture manufacturer Green Life LLC is considering leaving New York City and the state of Ohio is trying to secure a commitment from the high-end outdoor furniture maker to set up its office in southeast Ohio town of Nelsonville.
According to Mr. Brad Biggs, business development manager with the Ohio Department of Development, the company was looking for a better tax environment, so they decided on Ohio. Green Life was recently awarded a five-year, 40 % job creation tax credit by Ohio.
IntelliTrack selects Quest Integrated Solutions as Integration Partner
26-Jan-2009
IntelliTrack, Inc., North America's number one provider of small to medium business solutions for inventory and asset management has chosen Ohio Based partner Quest Integrated Solutions to expand its localized sales and implementation services for IntelliTrack Warehouse Management Systems (WMS).
Quest will support Sales, Analysis, Integration, Implementation and Modification services for IntelliTrack Installations in Ohio, Michigan, Western Pennsylvania and Kentucky.
Venture capitalists invested US$259 million in 73 Northeast Ohio companies
15-Jan-2009
A new report by the Venture Capital Advisory Task Force says that though the Northeast Ohio region's flow of venture capital declined in 2008, the number of new companies receiving cash infusions has increased. Seventy-three companies in various stages of growth drew US$259 million in venture capital last year.
Battelle Investing US$200 Million in Central Ohio
14-Jan-2009
Battelle, the world’s largest nonprofit research and development organization, announced to invest over US$200 million in central Ohio.
As part of the investment, Battelle will create more than 200 new science and research jobs.
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Record growth expected for solar energy
6-Feb-2009
Efforts are being taken across Ohio to promote and encourage solar companies and their development. First Solar Inc. and Xunlight Corp., two solar-panel makers have already set their plants in metro Toledo.
According to the U.S. Department of Energy's Solar Energy Technology Program for Energy Efficiency and Renewable Energy, Program manager, Mr. John Lushetsky solar energy industry - including manufacturers, suppliers, and distributors - could employ 4 million people.
But there are tremendous challenges involved and the public and private sectors need to work to incorporate solar energy into a national electrical grid.
Lorain County erects first turbine to generate electricity
3-Feb-2009
Lorain County installed its first wind turbine, a 70-foot-high turbine, with 16-foot-long wind blades, which is expected to produce 20 kilowatts energy used to generate electricity.
The installation of the turbine will allow the city to test the affect of turbines in the area and also provide a great incentive for more businesses to adopt renewable energy sources.
Green investments can revitalize Ohio's economy
3-Feb-2009
A report by Environment Ohio states that clean energy can protect the environment and rev our economic engine to generate a brighter future for Ohio. The report and its recommendations were well received by Ohio's local, state, and national leaders.
The report states that investment in green infrastructure can reduce dependence on foreign oil and create long-term economic growth.
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County Council members positive after India visit
26-Feb-2009
Ohio Summit County Councilwoman Ms. Ilene Shapiro is very optimistic about her India trip. Ms. Shapiro was among 20 people from Greater Akron to participate in an economic development mission planned by the Summit County Mayors Association (SCMA) to India that took place between 1 -13 Feb-09.
Ms. Shapiro said that the Mission participants hoped that the trip would open doors to bringing companies to Summit County. The mission representatives met with several chambers of commerce in the cities of Mumbai, Ahmadabad and New Delhi and met individually with different companies.
Ms. Shapiro said that India has many progressive companies that are working to upgrade and improve the economic conditions of the country. She was impressed with the chief minister of Ahmadabad, whose role is similar to a governor in the city of 4.5 million.
Ms. Shapiro also mentioned that the SCMA was helped greatly by the Ohio Department of Development, which has an office in India.
Trade mission to India deemed a success
19-feb-2009
Hudson Mayor, Mr. William Currin stated that the Summit County trade mission to India during 1st to 13th Feb ’09 was a grand success.
Summit County officials, including Mr. Currin, Stow Mayor Ms. Karen Fritschel, Twinsburg Economic Director, Mr. Larry Finch and Hudson economic development Director, Mr. Chuck Wiedie, visited three cities in India including Mumbai, Delhi and Ahmedabad.
Mr. Currin signed Memorandum of Understanding (MoUs) with president of the All India Association of Industries in Mumbai, Mr. Vijay G. Kalantri, and executive director of the World Trade Center in Mumbai, Mr. Y.R. Warerkar.
The memorandums established non-binding agreements to explore industrial and economic development partnerships.
Ohio in business talks with Indian Companies
9-Feb-2009
America is initiating discussions with India’s leading companies like Reliance Industries and Videocon for setting up business ventures in the US.
According to Mayor of Stow, Ohio, Ms. Karen Fritschel, Ohio has initiated talks with Indian companies including Videocon, Reliance Industries and Moser Baer and asked these Indian companies to come and invest in the US.
Ms. Fritschel further stated that Ohio mainly export plastics and polymers to India.
India&aposs merchandise exports to the US grew at about 10 % from US$ 21.83 billion in 2006 to US$ 24.02 billion in 2007, whereas the USA&aposs merchandise exports to India touched the figure of US$ 17.59 billion in 2007.
Besides, cut and polished diamonds and jewelry is another major item of India&aposs exports to the US, accounting for 25.81 % of overall trade.
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Economic development loans to create jobs in Ohio
23-Feb-2009
Ohio Governor, Mr. Ted Strickland and Ohio Department of Development, Interim Director Mr. Mark Barbash announced that loans valued at more than US$4.7 million have been recommended by the Development Financing Advisory Council to support eight economic development projects in Ohio that would create a number of jobs in the state.
Ohio announces more than US$12 million grants in clean Ohio to communities
Ohio Lieutenant Governor, Mr. Lee Fisher announced more than US$12.7 million in grants to be awarded to seven entities through the Clean Ohio Revitalization Fund program.
The Clean Ohio Revitalization Fund program is a statewide competitive program that provides grants of up to US$3 million to acquire property, demolish structures, conduct environmental cleanup, and improve infrastructure on or serving a brownfield property.
Ohio approves job creation and retention tax credits for business expansion
26-Jan-2009
Ohio Governor, Mr. Ted Strickland and Lieutenant Governor, Mr. Lee Fisher announced that the Ohio Tax Credit Authority has approved Job Creation and Job Retention Tax Credits for 13 businesses. Most of these businesses are involved in location or expansion projects and are expected to create 668 positions and retain 1,809 jobs in Ohio.
Some of these 13 businesses include J.M. Smucker Company, a leading marketer and manufacturer of a variety of branded food products, which has been awarded a 65 % job creation tax credit.
Other companies like Lance Manufacturing, LLC, and Archway Bakeries, LLC have been awarded a 55 % job creation tax credit, whereas TLT- Babcock, Inc. is awarded a 45 % and Green Life, LLC has been awarded a 40 % job creation tax credit respectively amongst others.
Joint Sound LLC to receive US$50,000 grant
22-Jan-2009
TechColumbus, a nonprofit organization that works to develop technology-based businesses in 15 counties in the Central Ohio region, announced to invest over US$1.6 million in nine local companies, including a New Albany business, through two different grants.
New Albany's Joint Sound Holdings LLC will receive up to US$50,000 to use to help it conduct market research, review intellectual property issues and enhance its prototype.
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Central Ohio Attracting and Retaining In-Demand Technology Professionals
26-Feb-2009
According to Columbus Chamber of Commerce, the trend of young, talented college graduates from Ohio moving to other cities for work is changing now as the Ohio's capita Columbus is transforming into a big city.
Columbus is the 15th largest city in the nation and one of the 10 best cities to do business in. Columbus has been home to The Ohio State University since 1870, which is currently the largest university by enrollment in the US. And the state's capital has been the largest city in Ohio since the early 1980s.
Medical technology flourishing in central Ohio
19-Jan-2009
TechColumbus recently supplied US$1.6 million in grants as part of its effort to promote technology-based businesses. Five of the nine companies that received these funds from TechColumbus produce medical devices. Medical technology is an emerging area of strength in central Ohio.
The funding comes from TechColumbus' US$22.5 million initiative to promote technology-based businesses.
Overall, the total economic output in the region stemming from Battelle’s investment is estimated to total more than US$450 million.
At its King Avenue campus, Battelle is modernizing and renovating its offices and laboratories, incorporating new energy efficient features, and other green technologies.
The capital investments in central Ohio will retain thousands of research jobs and lead to the creation of about 200 new science and research jobs.
Battelle estimates that its US$200 million in capital investments will result in a total of US$450 million during the course of construction. The resulting jobs will generate a total regional income of US$75.5 million.
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