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I'm assuming they are going to be taking an L? ūüėĄ

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Ohio's state income taxes are aggressively progressive, whereas in other states they might be more flat. How much are some other states funding their cities, especially ones that collect a lot of state income taxes. NOT Florida!

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25 Columbus Companies Make VentureOhio Watchlist

 

VentureOhio has released its annual list of the 50 seed- and growth-stage companies across the state most primed for success in 2019 and beyond.  Columbus-based companies comprise half of 2019’s list.  A couple of the names are already fairly well-known - Root Insurance and Beam Dental.

 

Root Insurance helped lift Columbus on the national stage for venture capital, raising $151 million in 2018 and earning a $1 billion valuation.  Earlier this year, Root and Beam Dental also made commitments to increase hiring in Columbus, expecting to bring on 400 and 140 new employees respectively.

 

Full list of the 25 Venture-Ohio listed companies:  https://themetropreneur.com/columbus/25-columbus-companies-make-ventureohio-watchlist/

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EP-190439770.jpg

 

Donatos founder Jim Grote opens Edge Innovation Hub in Gahanna

 

The Donatos Pizza founder has launched a new food technology innovation center in Gahanna.  Edge Innovation Hub at 1140 Gahanna Parkway will host industry events, support start-up businesses and provide a collaborative working space.

 

Edge Innovation Hub shares a 17,000-square-foot space with BeeHex, a Columbus-based startup, and a demo space for Grote Company, a food-processing equipment maker founded by Jim Grote in 1972.

 

BeeHex raised $1 million¬†to fund the development of a commercial prototype of its Chef 3D ‚ÄĒ a 3-D ‚Äúprinter‚ÄĚ that can build pizzas with dough, sauce and cheese in about a minute.¬† Grote was the lead investor for the 3-D printer.¬† BeeHex got its start in California in 2016 and relocated to Columbus in 2017.

 

MORE:  https://www.dispatch.com/business/20190430/donatos-founder-jim-grote-opens-edge-innovation-hub-in-gahanna

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Macy’s hiring for new distribution center near Rickenbacker Airport

 

Macy’s has started hiring workers for its new distribution center near Rickenbacker Airport, which will begin operations this summer.  The distribution center is expected to employ 400 workers year-round, and 400 additional workers for the holiday shopping season.

 

The center is geared toward Backstage, Macy’s off-price concept that operates inside the Cincinnati-based retailer’s stores.  Macy’s currently operates 180 Backstage store-within-store concepts and will continue to expand to more locations through 2019.

 

MORE:  https://www.dispatch.com/business/20190527/macys-hiring-for-new-distribution-center-near-rickerbacker-airport

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t-marzetti-co-51*600xx3888-2187-0-203.jp

 

I like discovering under-the-radar companies that are actually pretty big.  Here's another one that made some news today.  T. Marzetti, a Central Ohio-based maker of salad dressings, dips, breads and rolls.  T. Marzetti operates under its parent company Lancaster Colony Corp. - which despite its name is headquartered in Westerville.

 

The company's customer base is a 50/50 split.  One half are retail product lines, such as Marzetti salad dressings, New York Bakery garlic bread and Sister Schuberts rolls.  The other half are restaurants, such as Olive Garden and Buffalo Wild Wings, and food service companies who use Marzetti sauces and dressings in their menus.  According to the latest Columbus Business First listing of publicly traded companies, Lancaster Colony is 16th in Central Ohio for annual company revenue at $1.2 billion.  That's just below Wendy's at $1.22 billion annual company revenue!  That's a lot of salad dressing(!)

 

T. Marzetti opened a new 45,000 sq. ft. research, development and testing lab in Lewis Center (which is located in southern Delaware County not far from the Lancaster Colony HQ in Westerville).  Below are two Business First articles about this new facility:

 

https://www.bizjournals.com/columbus/news/2019/03/13/exclusive-marzetti-setting-up-new-r-d-facility-in.html

 

https://www.bizjournals.com/columbus/news/2019/08/27/photos-inside-columbus-new-secret-sauce-factory.html

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Mmmmm...Sister Schuberts rolls...


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Cleveland broadband provider starts 580-mile Columbus network for business connections, backbone for 5G

 

Cleveland-based Everstream has started construction of a 580-mile fiber-optic network in Central Ohio as part of a $300 million broadband expansion spanning seven Midwest states.  It's built the first 80 miles along I-270 in Columbus, one of the first two markets for the expansion financed by AMP Capital, an Australian private equity firm that acquired Everstream last year.  The up to $25 million network eventually will extend to Delaware, Marysville, Newark and Grove City, and more will be added with demand.  Everstream has opened a sales and engineering office on North 5th Street in downtown that will create more than 20 jobs.

( . . . )

In practical terms, Central Ohio gets teed up first because one of the big-three cellular carriers signed a lease on the network to increase bandwidth to towers that will be the backbone of future 5G service.  The next step is side connections to thousands of smaller antennae that make 5G possible.

( . . . )

The 100-gigabyte high-speed network will have capacity for several corporate clients.¬† The network links to three large Central Ohio data centers: Cologix in north Columbus and Expedient locations in Upper Arlington and Dublin.¬†¬†‚ÄúThe bandwidth consumption in Columbus is growing very significantly so there‚Äôs plenty of need in the market,‚ÄĚ CEO¬†Brett Lindsey¬†said.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/08/28/cleveland-broadband-provider-starts-580-mile.html

 

MAP FROM THE ARTICLE:

everstream-map-columbus-planned-network.

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One of Central Ohio's largest employers announces layoffs

 

One of Central Ohio's largest employers is downsizing a workforce that's already seen a significant reduction in the past year or so.

In a letter to the state, Vertiv Group Corp. announced it was reducing the headcount at its Columbus manufacturing facility at 1050 Dearborn Dr., cutting 120 hourly and 10 salaried employees in phases from Oct. 14 through next April.

 

https://www.bizjournals.com/columbus/news/2019/08/20/one-of-central-ohios-largest-employers-announces.html

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^ Well, 76th largest employer in Central Ohio.  But it is slightly larger (921 vs 892) than the Lancaster Colony Corp./T. Marzetti business that I posted about two days ago.

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For Hire: The Growth of Software Development, Tech Jobs in Columbus

 

In the fall of 2018, when a California-based software company held a grand opening of its second North American headquarters in Dublin, it wasn’t a surprise.  There are smart, talented people in Columbus, especially when it comes to the tech industry.

 

Whether the emergence of innovative new startups or large, multinational companies, there is a surge happening in Columbus, and job seekers are getting in on it.  Developers and tech professionals understand where the jobs are, simply based on the sheer amount of tech companies and startups that call Columbus home.  And those companies know where the talent is, given the city’s reputation as a great place to live, buy a home and raise a family.

 

The unemployment rate is also comparatively low, especially in the tech sector, which has led Columbus to be named the number one city for U.S. tech workers.  Workers are so in demand, in fact, Central Ohio tech companies are in need of more employees.

 

MORE:  https://www.columbusunderground.com/for-hire-the-growth-of-software-development-tech-jobs-in-columbus-tm1

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OhioHealth to raise its minimum wage to $15 per hour

 

More than 9,600 OhioHealth employees will see a bump in their paychecks starting in November.  The Columbus-based nonprofit health system, which has 30,000 employees and 12 hospitals, is raising its minimum wage from $12 to $15 per hour in what it says is an attempt to pay employees fairly.

 

The change comes on the heels of Nationwide Children’s Hospital announcement in April that it was raising its minimum wage, taking about one third of its employees from $10 to $15 an hour.  Mount Carmel Health System increased its minimum wage to $12 per hour last year, will take it to $13 by December, and plans to raise it to $15 in the next few years.

 

MORE:  https://www.dispatch.com/news/20190807/ohiohealth-to-raise-its-minimum-wage-to-15-per-hour

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Ohio State raising minimum wage to $15 per hour in 2020

 

Ohio State University will raise the minimum wage for non-union and Wexner Medical Center employees to $15 per hour next year.  About 3,800 employees will benefit from the pay raise to $15 per hour in 2020.  An additional 1,000 employees now making $15 per hour will get a $1-an-hour boost to $16 per hour.

 

President Michael V. Drake announced the pay increases Friday in a prepared release stating that they will be implemented in connection with Ohio State’s annual merit-compensation process in 2020.

 

MORE:  https://www.dispatch.com/news/20190830/ohio-state-raising-minimum-wage-to-15-per-hour-in-2020

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19 hours ago, Clefan98 said:

One of Central Ohio's largest employers announces layoffs

 

One of Central Ohio's largest employers is downsizing a workforce that's already seen a significant reduction in the past year or so.

In a letter to the state, Vertiv Group Corp. announced it was reducing the headcount at its Columbus manufacturing facility at 1050 Dearborn Dr., cutting 120 hourly and 10 salaried employees in phases from Oct. 14 through next April.

 

https://www.bizjournals.com/columbus/news/2019/08/20/one-of-central-ohios-largest-employers-announces.html

 

 

19 hours ago, Clefan98 said:

 

 

Oh no.....two posts like this within 24 hrs. Are these simply indicative of things at these two companies, reactions to fears of recession, or are things really already slowing down? Hopefully the first one....

 

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On 6/18/2019 at 1:40 PM, Columbo said:

With tasks mostly complete, Columbus economic development group looks ahead

 

With its goals basically complete, Columbus 2020 is determining what’s next for the economic development group, including a name change.  When Columbus 2020 launched in 2010 to lead economic development throughout 11 central Ohio counties, the region was hemorrhaging jobs and people were losing their homes to foreclosure during the worst recession since the Great Depression.

 

The group set seemingly ambitious goals back then: 150,000 new jobs, $8 billion in new capital investment and a 30% increase in per-person income by 2020.  The jobs and capital investment goals already have been hit, and per-person income is up 28.5% through 2017, the most recent data available.

 

For the past year, 2020 executives have been meeting with hundreds of interested parties, including CEOs, chambers of commerce and other leaders about the direction of the group going forward.  The group likely will release its next set of goals this summer.

 

MORE:  https://www.dispatch.com/business/20190603/with-tasks-mostly-complete-columbus-economic-development-group-looks-ahead

 

UPDATE:

 

Columbus 2020 no more; renamed economic group wants region to be the most prosperous in the U.S.

 

One Columbus has replaced Columbus 2020, the name of the economic development group that was created in 2010, when the country was emerging from the worst downturn since the Great Depression.  Back in 2010 when Columbus 2020 started, the region, like many other parts of the country, was hemorrhaging jobs, and homeowners were losing their homes to foreclosure.

 

Since then, the region has added nearly 200,000 jobs, and its job-growth rate has been the best among 10 large Midwestern cities.  Also, the region has led the Midwest in population and economic growth over that period.  Since 2011, Columbus 2020, which includes 11 central Ohio counties, has been involved in projects that have created 47,838 jobs with an annual payroll of $2.1 billion and total investment of $8.6 billion.  Now the region is starting the next decade with a low unemployment rate of 3.9% in July and record-high home prices.

 

Although prosperity is a term that can mean different things to different people, it can‚Äôt be achieved without economic growth, Kenny McDonald, One Columbus‚Äô chief economic officer said.¬† ‚ÄúYou can‚Äôt achieve your growth potential unless you deal with some of the other issues that are eating at our true prosperity ‚ÄĒ education, transportation, housing,‚ÄĚ he¬†said.¬†¬†The One Columbus name is meant to symbolize a region that has come together over the years in pursuit of economic development.¬†¬†‚ÄúWe just think economic development is a big tent. It‚Äôs a big place, a table where a lot of people can come together for a common purpose,‚ÄĚ he said.

 

As part of the effort, One Columbus has created a monitor that will show how the region stacks up with 34 other metro areas in the U.S. that have 1 million to 3 million residents.¬† The report, to be updated monthly, will focus on the most current measurements, based on three categories: growth, prosperity and innovation.¬†¬†McDonald and his staff have been talking to groups about the new strategy, and the response has been consistent.¬†¬†‚ÄúWe‚Äôre really proud of this region,‚ÄĚ he said people tell him. ‚ÄúWe take great pride in it. We want it to grow, and yet we can do better.‚ÄĚ

 

MORE:  https://www.dispatch.com/business/20190903/columbus-2020-no-more-renamed-economic-group-wants-region-to-be-most-prosperous-in-us

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Columbus 2020 changes name, sets goals for second decade

 

Ahead of next year's obviation of its name, Columbus 2020 is rebranding ‚Äď and setting the goals and metrics for its second decade of economic development in Central Ohio.

 

Leaving behind a temporal deadline, the nonprofit economic development organization has renamed itself One Columbus.  The organization's new logo takes advantage of negative space in the typeface to make a nod to the 11 Central Ohio counties it represents.

 

Growth alone is not enough, CEO Kenny McDonald said.  The group recognizes that true prosperity also addresses affordable housing and disparities in wealth and income.  For example, the former 2020 is among several regional groups in the Rise Together initiative to combat poverty.

 

Columbus 2020 was formed in 2010 in the aftermath of the recession to attract and retain job-creating businesses.  It met its three broad 10-year goals early: add 150,000 new jobs to the region, attract $8 billion in capital investment and increase per-capita income by 30%.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/09/03/columbus-2020-changes-name-sets-goals-for-second.html

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Video games.  Video game tournaments.  eSports.


Whatever it's called, it's becoming big business.  According to a 2019 esports report from market research firm Newzoo, professional esports revenue totaled $875 million in 2018.  And it’s projected to surpass the billion-dollar mark this year.  The global audience for esports was about 395 million people in 2018 and is expected to grow to nearly 454 million in 2019.

 

Columbus has been a part of this eSports growth.  In 2014, I posted this eSports news in this thread:

On 9/25/2014 at 11:08 AM, Columbo said:

Major League Gaming is opening its second arena in the U.S. dedicated to video game tournaments in Columbus.  MLG announced it would locating to a 14,000 sq. ft. venue south of Easton and north of the airport at 2188 Citygate Drive.  The location, to be called MLG.tv Arena, will have bleacher seating, soundproof booths for players and the ability to host live commentary.  Officials said it will host year-round events geared towards livesteaming on MLG.tv.

 

http://www.bizjournals.com/columbus/news/2014/09/23/major-league-gaming-setting-up-e-sports-arena-in.html

 

http://www.columbusunderground.com/major-league-gaming-opening-columbus-arena

 

And in 2016 -  in the Columbus Events thread - there was this news:

On 3/31/2016 at 1:35 PM, Columbo said:

 

The above quote from 2014 in the Columbus General Business thread talked about the video-game/eSports company Major League Gaming installing a video gaming arena in Columbus.  Now, MLG is hosting a big video gaming tournament in Nationwide Arena this weekend:  http://www.majorleaguegaming.com/CSMajor?utm_source=EventSection&utm_medium=Button

 

According to https://reddit.com/r/Columbus?utm_content=subreddit&utm_medium=post_embed&utm_name=d2403eab14b24622a78b365eb1512d4d&utm_source=embedly&utm_term=4cq1mn this three-day event (April 1-3) is completely sold out.

 

Now, Ohio State is getting involved with eSports:

 

AR-190818564.jpg

 

Ohio State embraces esports with passion

 

Announced last year,¬†Ohio State‚Äôs esports program¬†is moving forward this school year with the opening of its esports ‚Äúarena‚ÄĚ in Lincoln Tower.¬† It‚Äôs just one part of a program that involves an esports curriculum, research and student life ‚ÄĒ all around competitive video gaming.

 

The arena holds an esports facility with more than 80 seats mixed among gaming computers, gaming consoles and virtual-reality systems.  It also will feature a broadcast booth for students interested in streaming or covering esports events.  The facility is open to all enrolled students.

 

The arena also will include spaces for Ohio State‚Äôs new esports teams, run through the Office of Student Life.¬†¬†Brandon Smith, esports director in Ohio State‚Äôs Office of Student Life,¬†said the university expects to start three to four teams this school year ‚ÄĒ most likely for Overwatch, League of Legends, Rocket League and Hearthstone games, which are some of the more popular in collegiate esports.

 

Ohio State’s esports program also will include an undergraduate major in game studies and esports.  The curriculum is still undergoing an approval process, with official enrollment for the major planned for fall 2020.  Becky Bradshaw, program manager in the Office of Business Advancement, who has been helping to launch the esports program said that Ohio State is working with partners in the gaming industry to create the curriculum, which will have three specialization tracks: esports and game creation, esports management and the application of games in health and medicine.

 

MORE:  https://www.dispatch.com/news/20190818/ohio-state-embraces-esports-with-passion

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This is all about getting kids to go to OSU's video game design school. These schools graduate 10X as many students as there are job openings in the field -- a field that can move overseas at any time just as it did after the Video Game Crash of 1983. When game design moved back to the States in the early 2000s, schools went nuts with these programs since it was a field with growth that wasn't healthcare or trucking.

 

eSports is a bubble. Luckily, OSU will have no trouble when it bursts since they are diversified and well-funded.

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I'm a bit surprised that a Central Ohioan didn't post this before I did....

 

JPMorgan Weighs Shifting Thousands of Jobs Out of New York Area
Company is reining in costs ahead of possible economic slump
Executives are deciding what roles could be relocated to lower-cost hubs such as Plano, TX; Columbus, OH; and Wilmington, DE.

 

https://www.bloomberg.com/news/articles/2019-10-28/jpmorgan-weighs-shifting-thousands-of-jobs-out-of-new-york-area

Edited by KJP
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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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11 minutes ago, KJP said:

I feel a bit surprised that you Central Ohioans aren't jumping all over this....

 

I just came here to "jump all over it" but you beat me by a few minutes. 

 

I'm wondering how many thousands of jobs they could be moving, and how many of those could we land in Columbus. We've been talking a lot about how the CDDC thinks they will fill 2 million sq ft of office space on the Scioto Peninsula. Perhaps this could assist in filling that, although they could also spread out some of this positions in their preexisting locations here in Columbus. Regardless, the jobs would be great for the area!

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19 minutes ago, cbussoccer said:

 

I just came here to "jump all over it" but you beat me by a few minutes. 

 

I'm wondering how many thousands of jobs they could be moving, and how many of those could we land in Columbus. We've been talking a lot about how the CDDC thinks they will fill 2 million sq ft of office space on the Scioto Peninsula. Perhaps this could assist in filling that, although they could also spread out some of this positions in their preexisting locations here in Columbus. Regardless, the jobs would be great for the area!

Right now Chase has ~2 million square feet in Columbus with ~18,400 jobs. It would take a huge number to make even a dent in 2 million square feet on the Peninsula. As I said in the Capitol Square thread, perhaps Chase is interested in that development like Bank One originally.

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4 minutes ago, aderwent said:

Right now Chase has ~2 million square feet in Columbus with ~18,400 jobs. It would take a huge number to make even a dent in 2 million square feet on the Peninsula. As I said in the Capitol Square thread, perhaps Chase is interested in that development like Bank One originally.

 

Chase is in a skyscraper mood right now it seems with them looking at building a supertall in NYC. *crosses fingers*

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Columbus' humming economy poised for growth, Federal Reserve predicts

 

 

Columbus' unemployment rate notably hit an 18-year low of 3.3% in June and has been below 4% for more than two years even as its workforce has grown. The city's per capita GDP is almost $6,000 higher today than it was in 2007, the researchers found, and it's seen faster GDP growth than the national average since the Great Recession.

 

"The Columbus metro area’s unemployment rate is low and falling even as the labor force expands," the researchers said. "The labor force in the Columbus metro area has grown by about 10,000 people this year, as people continue to be attracted to the area by the strong job prospects, driven by growth in the government, construction and transportation sectors."

Steady growth brought 12,400 jobs to the region in the 12 months through March, on par with the national growth rate, with construction surging 5.3% and government and financial services offsetting slower numbers in education and health services.

 

The Fed researchers highlighted the region's housing market too. The median home value, at $195,400, rose 6.9% year-over-year in August and has outpaced both state and national averages. Home prices here, the Fed economists noted, are affordable relative to the national average, but expensive for Ohio.

 

https://www.bizjournals.com/columbus/news/2019/11/04/columbus-humming-economy-poised-for-growth-federal.html?iana=hpmvp_colum_news_headline

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WeWork opens in the Short North

 

img6202*750xx5184-2916-0-270.jpg

 

Even as the company's financial woes continue, coworking giant WeWork's first Ohio location is now open for business.

 

More below:

https://www.bizjournals.com/columbus/news/2019/12/03/photos-wework-opens-in-the-short-north.html


"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Here's a pretty cool article about Upstart(California tech company that moved their second HQ here and is in the Lincoln building for anybody that wasn't aware).  It talks about how they plan on growing this office bigger than the San Mateo one and that the CEO is also scouting for more office space.  It also mentions that Columbus has a ton of talent here(one of the other developers on my team actually just took a position with them) and that they also haven't had any trouble convincing people to come here from places like NYC.  There are also some cool pictures of the office and the views they have of downtown and the Short North.

 

CBF Cool Offices: Upstart's Columbus HQ2 could grow bigger than Silicon Valley home base

Upstart Network Inc. picked Columbus for its second headquarters 13 months ago and set a stretch goal of 100 employees by the end of 2019.

 

It's already hired 120, including data scientists, software engineers and customer support staff.

 

The Columbus office realistically could grow larger than the San Francisco-area headquarters within a year, CEO Dave Girouard said. The e-lending company has 220 employees in the San Mateo, California, home office today. Columbus could top 500, he said.

 

"We're incredibly confident the talent is here," Girouard said. "Our business is really strong right now, and there's no reason to think it won't be in the future."

Girouard was in Columbus Tuesday for an open house for vendors, fellow tech companies and public officials. He's also scouting Central Ohio real estate just months after moving into 15,000 square feet at 711 N. High St. in the Short North.

 

...

 

Columbus also has proven to be "an amazing place" for recruiting out-of-towners to move, he said. The office has hires who moved from New York City and Albuquerque.

 

More here: https://www.bizjournals.com/columbus/news/2019/12/04/cbf-cool-offices-upstarts-columbus-hq2-could-grow.html?iana=hpmvp_colum_news_headline

 

 

upstart1.PNG

upstart2.PNG

upstart3.PNG

Edited by TH3BUDDHA
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Central Ohio to add another publicly traded company after $5.3B deal

vertivlogotmvrtrgbgry*1024xx833-469-0-85

Vertiv Holdings LLC, the data center and IT infrastructure spinout from Emerson Electric Co., will go public after a merger that values the company at $5.3. billion.

 

An affiliate of Goldman Sachs Group Inc. and David Cote, former CEO and executive chairman of Honeywell, created a holding company that Vertiv has agreed to join. Once the transaction closes in early 2020, the new company, renamed Vertiv Holdings Co., will trade on the New York Stock Exchange under the ticker VRT.

 

Rob Johnson remains CEO and the operations aren't affected at the company's 1050 Dearborn Dr. office. Cote will become executive chairman.

 

"We've built a great foundation over the past three years and I truly believe now is the right time to bring this company to the public market," Johnson said Tuesday in a call with investors.

 

More below:

https://www.bizjournals.com/columbus/news/2019/12/10/central-ohio-to-add-another-publicly-traded.html

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Catching up on some older articles/news:

 


https://www.dispatch.com/news/20190727/columbus-to-study-ways-to-boost-economic-vitality-of-route-161-corridor

 

Columbus city officials are taking a closer look at the Northland area in an effort to attract more businesses and customers to boost the neighborhood’s economy.  City Council voted to enter into a  Monday to enter into a contract with Arch City Development to provide a market analysis of a roughly four-mile stretch of the Route 161 corridor, from the I-71 exits on the west to the I-270 exits on the east.

 

Officials say the study will review current and expansion opportunities for businesses, evaluate land-use patterns and make recommendations that address market constraints, real estate development opportunities and potential programming to help businesses in the area thrive.

 

Brian Higgins, the principal for Arch City Development, said he will be analyzing the conditions along the corridor and talking to landowners, merchants and residents.¬†¬†‚ÄúIt‚Äôs declined from its heyday, but that‚Äôs created opportunities for small ethnic businesses,‚ÄĚ Higgins said.¬† Higgins said he‚Äôll also be looking at housing needs.

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Columbus-Cincinnati-Louisville corridor becoming 'the heart of e-commerce' ‚Äď how that's heating up the city's real estate market

 

Joe Kimener can hardly start a tour of a new warehouse site when the phone rings again.  This afternoon, he's trying to tour the gargantuan, 1.2-million-square-foot warehouse now framed off I-70 in Etna that is coming together quickly as acres of concrete are poured and tons of dirt smoothed out.  When it's done, Kohl's Department Stores will ramp up an e-commerce distribution hub slated to employ 700.

 

It's part of the 155-acre The Cubes at Etna 70 development, where Kimener and Jeff Lyons of CBRE have been retained as listing agent for what will be 4 million square feet of new warehouses in eight buildings.  Kohl's immediately took one of the largest available plots, and brokers have been scrambling to make deals happen even in spaces of this scale.  "E-commerce is really driving things," Kimener said.

 

Columbus has seen 14 million square feet of activity for e-commerce operations since 2014 ‚Äď 38% of all warehouse leasing activity.¬† In a recent research report, JLL dubbed the Columbus-Cincinnati-Louisville I-71 corridor as "the heart of e-commerce," noting 44% of all warehouse leasing activity across the three cities' 439 million square feet of warehouse inventory was for e-commerce.¬†¬†The corridor has grown in prominence at a time that e-commerce sales have jumped 49.2% since 2012 and now account for 9.8% of all retail sales - and is projected to¬†grow to 17.4% of all retail sales by 2022.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/08/16/i-71-through-columbus-becoming-the-heart-of-e.html

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Columbus Business First profiles the 2019 JLL Columbus Skyline Report - which looks at downtown office vacancy and lease rates - and includes a slideshow of 14 downtown properties.  Business First also included a slideshow of 13 announced downtown (and downtown adjacent) projects that will add to the existing office space inventory:

 

https://www.bizjournals.com/columbus/news/2019/08/25/skyline-report-these-columbus-towers-have-the.html

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industrious-the-sutton-1.jpg

 

Photos: Inside the Short North's latest coworking addition

 

New York-based coworking company Industrious has officially opened its second Short North location, a significant expansion of the national brand's Columbus presence.

 

The 30,000-square-foot location includes 96 office suites and room for up to 381 members on the third and fourth floors of the newly constructed 875 N. High Street building.  The building is part of The Sutton, a multi-phase mixed-use project from Columbus-based Pizzuti Cos. that will also include a neighboring six-story apartment building.

 

Pizzuti is also Industrious' landlord at its first Short North location, a 30-office coworking space in the Offices at the Joseph at 629 N. High Street.  That site will remain open.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/09/03/photos-inside-the-short-norths-latest-coworking.html

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Columbus 2020's biggest accomplishment ‚Äď and how to repeat it, according to CEO Kenny McDonald

 

Columbus 2020 hit its targets for growth of jobs, private investment and per capita income in its first decade, but CEO Kenny McDonald doesn't think those were its most important accomplishment.  The economic development organization was formed in 2010 in the aftermath of the recession to attract and retain job-creating businesses for the 11-county region.  "We weren't the only community saying we've got to do something," McDonald said.  But Central Ohio kept beating that drum.  Also, what started as a loose confederation of local governments is truly acting as a unified region.

 

Renamed One Columbus as it faces the next 10 years and beyond, it will continue to make progress only if it keeps a long-term strategy instead of getting distracted by quarterly or annual statistics, he said.  "As soon as you start thinking long term, you make greater strides in the short term," McDonald said.  "When you're stuck in the everyday and you're just trying to put out flames, you get nowhere."

 

As¬†One Columbus, the organization has revamped its monitoring of progress and set new concrete goals for jobs and investment, but¬†added a new emphasis on true prosperity¬†that's shared more equally.¬†¬†"We want to talk about growth and prosperity in the same breath," McDonald said.¬† "It isn't growth for growth's sake anymore ‚Äď which was perfectly rational in 2010."¬† That means emphasizing the economic development effects of affordable housing, income inequality, smart mobility and environmental sustainability.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/09/04/columbus-2020s-biggest-accomplishment-and-how-to.html

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Two Japanese auto suppliers expanding in Central Ohio:

 

https://www.bizjournals.com/columbus/news/2019/09/09/auto-parts-maker-investing-10-7m-in-grove-city.html -- Tigerpoly Manufacturing is investing $10.7 million and expects to add 40 new jobs at its Central Ohio facility.  The Osaka, Japan-based manufacturer makes rubber and plastic parts for the automotive industry.  The company already employs 395 people in the area and plans to add 105,000 square feet to its nearly 200,000 square feet of operations at 6231 Enterprise Pkwy. in Grove City.

 

https://www.dispatch.com/business/20190911/jefferson-industries-to-add-150-jobs-as-part-of-west-jefferson-expansion -- Jefferson Industries will create 150 jobs and invest $10.8 million as part of its plan to expand its West Jefferson operations.  The company’s West Jefferson facility has been in operation for 30 years and has more than 600 employees.  Jefferson Industries will expand its existing building by 77,000 square feet, bringing its total size to nearly 1.2 million square feet.  The company is a global manufacturer of automotive body frames.

 

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A few months ago I made fun off Motorists Insurance rebranding itself as Encova.  But after seeing the new market valuation for Columbus-based insurance tech startup Root Insurance, I can see why they rebranded.  In today's market, being a "tech company that sells insurance" more valuable than just being an insurance company.

 


Supersized unicorn: Root Insurance leaps to $3.65B valuation with $350M round

 

Root Insurance is now valued at $3.65 billion after a $350 million funding round ‚Äď the largest single venture capital round ever in the state.¬† The fast-growing Columbus startup was previously the first "unicorn" ‚Äď a company valued at more than $1 billion ‚Äď among more than 2,000 insurance technology startups, according to a report from Deloitte.

 

The Wall Street Journal, citing sources close to the deal, recently reported a new funding round has shot the auto insurer's value up to $3.65 billion.  That's more than twice the market capitalization of Columbus-based State Auto Insurance.

 

Meanwhile, less than five years after its founding, parent company Root Inc. is closing in on the ranks of the 100 largest employers in Central Ohio, with more than 700 local employees in Columbus, split between its downtown headquarters and an Easton support office.  That's almost as big as Grange Insurance, and a significant jump from the 140 employees the company had at this time last year.

 

MORE:  https://www.bizjournals.com/columbus/news/2019/09/09/supersized-unicorn-root-insurance-leaps-to-3-65b.html

 

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Some more about Root Insurance:

 

How Columbus-based Root Inc. is disrupting the $250 billion auto insurance industry with its all-digital, data-driven approach

-- https://www.bizjournals.com/columbus/news/2019/09/05/root-shoots-up-how-this-fast-growing-startup-is.html

 

A look at Root's new headquarters inside the recently completed 80 on the Commons

-- https://www.bizjournals.com/columbus/news/2019/09/05/slideshow-root-insurances-basks-in-bold-colors.html

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And still more about Root.  It joins other local startup companies CoverMyMeds and Beam Dental in a documentary on Columbus startups called 'Test City, USA'.  CoverMyMeds founding CEO Matt Scantland, Beam Dental CEO Alex Frommeyer and Drive Capital co-founder Mark Kvamme join Root co-founders Alex Timm and Dan Manges in featured interviews:

 

https://www.bizjournals.com/columbus/news/2019/09/11/test-city-usa-root-covermymeds-beam-dental.html

 

 

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