Sapper Daddy Posted October 22, 2019 Share Posted October 22, 2019 (edited) https://finance.yahoo.com/news/these-are-the-cities-with-the-highest-and-lowest-wage-growth-according-to-pay-scale-105250957.html Good to see wages going up in the Cleveland metro and planting our flag near the top mixed in with tech meccas. Edited October 22, 2019 by Sapper Daddy Link to comment Share on other sites More sharing options...
ML11 Posted October 22, 2019 Share Posted October 22, 2019 Now we sit back and wait for the local media to pick up this list with its positive story and promote it, right? (Maybe / hopefully I'll be pleasantly surprised.) 1 1 Link to comment Share on other sites More sharing options...
E Rocc Posted October 22, 2019 Share Posted October 22, 2019 On 10/3/2019 at 3:59 PM, KJP said: Cool. Buy 'em and move downtown! I worked in that industry, in fact I interviewed at PolyOne. You don't want the manufacturing plant downtown, and it's pretty much unheard of to have a separate headquarters facility that includes none. Link to comment Share on other sites More sharing options...
E Rocc Posted October 22, 2019 Share Posted October 22, 2019 8 hours ago, Htsguy said: This same topic came up in this thread about a month ago and people seemed not to be able to grasp the point then and it continues now, KJP is saying that only two companies packed up and left Greater Cleveland. He is not including companies that moved to the suburbs or those that moved due to mergers or acquisitions (for example Office Max). In my mind I think it is only one (Diamond) although KJP includes BP because the move happen well after the merger (although I think the move what clearly going to happen eventually). And like KJP said this discussion is better suited for the Cleveland economic thread as I can see this thread zipping far off topic again It is starting to get like the Cincinnati Street Car thread back in the day. One could also say Nestle USA, who moved because the new CEO was from Carnation and didn't want to move here from LA. But the irony there is the HQ moved here when a new CEO (BIggars) came from Stouffers and didn't want to move to NYC. Link to comment Share on other sites More sharing options...
mrnyc Posted October 23, 2019 Share Posted October 23, 2019 ^ i would not count subsidiary offices like nestle or bp as headquarters, that is cheating. its loosening the term, kind of like they do nowadays in retail with so-called flagship stores. that used to mean the original hometown store, but not anymore, now everyone gets one. Link to comment Share on other sites More sharing options...
KJP Posted October 23, 2019 Share Posted October 23, 2019 I would count them. Their jobs are numerous and they pay just as well. “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
mrnyc Posted October 23, 2019 Share Posted October 23, 2019 of course they are jobs and great to have. what they are not is hq's. Link to comment Share on other sites More sharing options...
MyTwoSense Posted October 24, 2019 Share Posted October 24, 2019 On 10/22/2019 at 9:45 AM, KJP said: I'm pretty sure BP America was. This article states that BP, after acquiring Sohio in 1986, kept its BP America president officed in Cleveland until 1997 when he moved to New York. The acquisition of Amoco came a year later. The decline of Sohio's HQ staffing under BP America fell from 5,500 in 1986 to 1,000 by the time the Amoco buy was announced in 1998. https://www.chicagotribune.com/news/ct-xpm-1998-08-16-9808160403-story.html On 10/22/2019 at 9:45 AM, KJP said: I'm pretty sure BP America was. This article states that BP, after acquiring Sohio in 1986, kept its BP America president officed in Cleveland until 1997 when he moved to New York. The acquisition of Amoco came a year later. The decline of Sohio's HQ staffing under BP America fell from 5,500 in 1986 to 1,000 by the time the Amoco buy was announced in 1998. https://www.chicagotribune.com/news/ct-xpm-1998-08-16-9808160403-story.html That is wrong. there were about 2500 people left and there was no way in hell we only had 10 floors. Now sending people to various other parts of the World did happen. I spent two years on London and if the merger didn't happen I would have been there longer. At the same time, there were a lot of Brits, Germans, Hungarian, Polish, Turk, Finnish, Australian (a majority of Clevelanders were sent there), Saudi, Iraqi, French, Italian, Russian, Kuwaiti, Canadian, Mexican, Venezuelan, Chinese (I knew people who had spouses at the Cleveland clinic) here in Cleveland. Link to comment Share on other sites More sharing options...
KJP Posted October 27, 2019 Share Posted October 27, 2019 Interesting lists of Cleveland-Mentor and Akron area's fastest growing companies. One of these is moving to downtown Cleveland. Any others possible? Cleveland-Mentor metro https://www.inc.com/inc5000/2019/top-private-companies-2019-inc5000.html?metro=cleveland&cid=profile500016-honorlist-metro Akron area https://www.inc.com/inc5000/2019/top-private-companies-2019-inc5000.html?metro=akron-oh BTW, I've heard Garland Co. is growing quickly. That's great to see that this 19th-century firm, which has been located on East 91st for about as long, has hit another gear thanks to its sale staff and is on its way to becoming possibly a billion-dollar business. As a Google review notes, there is no overnight parking at its East 91st headquarters! But the fastest growing company in Greater Cleveland, and the 9th-fastest growing in the USA at 12,595% revenue growth over three years, is Providence Healthcare Management of Woodmere, which operates skilled nursing facilities. That percentage growth is all the more impressive considering this is not a small company, with revenues of more than $225 million last year. Other fast-growing companies in Cleveland-Akron region that surpassed $100 million in revenue last year.... + WMK/Mobility Works of Richfield retrofits minivans and rents/leases/sells them to handicapped customers. It grew 115% in the last three years, reaching $514 million in revenue last year. It is now an 14-time Inc. top-5000 fast-growing honoree. + LeafFilter Gutter Protection of Hudson yielded $340 million in revenue last year and grew 287% in the last three years. It is now an eight-time Inc. top-5000 fast-growing honoree. + CrossCountry Mortgage, currently HQ'd in Brecksville but moving downtown soon, reached $333 million in revenues last year and grew 202% over the past three years. It has ranked in six of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + Park Place Technologies, an IT firm in Mayfield Hts that's now a $218.4 million firm and grown 149% in the past three years. It has now ranked in seven of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + ExactCare Pharmacy, located at Rockside and Canal roads in Valley View. They're a $203 million revenue company last year, and have grown 71% percent in the past three years. + Union Home Mortgage in Strongsville, with $155 million in revenue last year and 125% growth in revenues the past three years. + Echo Health of Westlake, with $148 million in revenue last year has grown 126% in the last three years and has ranked in seven of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + Universal Windows Direct of Bedford Hts grew 489% in the past three years to reach $106 million in revenue last year. + TalentLaunch, a human resources firm in Independence, achieved $105 million in revenues last year for an 85% growth rate in the past three years. It is a seven-time Inc. top-5000 fast-growing honoree. Greater Cleveland can try to lure employers here. But it became an industrial giant by organically growing its local businesses. These are some of the employers who could help achieve a renewed economic growth. 5 “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
Mov2Ohio Posted October 27, 2019 Share Posted October 27, 2019 ^These are the companies that should be getting incentives and Grant's from the City/County/State if they're not already! 2 Link to comment Share on other sites More sharing options...
Mov2Ohio Posted October 28, 2019 Share Posted October 28, 2019 COLUMBUS, Ohio — The London Stock Exchange has planted a flag in Cleveland, picking the city to host the North American headquarters for its international business-development initiative. The headquarters for the London Stock Exchange Group’s Elite initiative, which trains small and medium-sized companies to help them grow, is expected to open sometime early next year, officials announced Monday. https://www.cleveland.com/open/2019/10/cleveland-chosen-for-london-stock-exchange-programs-north-american-headquarters.html 6 Link to comment Share on other sites More sharing options...
YABO713 Posted October 28, 2019 Share Posted October 28, 2019 26 minutes ago, Mov2Ohio said: COLUMBUS, Ohio — The London Stock Exchange has planted a flag in Cleveland, picking the city to host the North American headquarters for its international business-development initiative. The headquarters for the London Stock Exchange Group’s Elite initiative, which trains small and medium-sized companies to help them grow, is expected to open sometime early next year, officials announced Monday. https://www.cleveland.com/open/2019/10/cleveland-chosen-for-london-stock-exchange-programs-north-american-headquarters.html Any finance guys/gals that can speak to if this is significant or primarily nominal? Link to comment Share on other sites More sharing options...
MuRrAy HiLL Posted October 28, 2019 Share Posted October 28, 2019 We demand a direct Cleveland to London flight !!! 5 1 Link to comment Share on other sites More sharing options...
simplythis Posted October 28, 2019 Share Posted October 28, 2019 40 jobs to be created with this headquarters. https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b Link to comment Share on other sites More sharing options...
simplythis Posted October 28, 2019 Share Posted October 28, 2019 Just now, simplythis said: 40 jobs to be created with this headquarters. https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b Link to comment Share on other sites More sharing options...
KJP Posted October 28, 2019 Share Posted October 28, 2019 Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. 2 “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
freefourur Posted October 28, 2019 Share Posted October 28, 2019 Even the 40 jobs is nothing to sneeze at. These will be decent paying jobs and further development of finance. It seems the Cleveland region has a good amount of business lending employment. This will build on that. Link to comment Share on other sites More sharing options...
bjk Posted October 28, 2019 Share Posted October 28, 2019 I could see a lot of synergy if they are located in Tower City in the midst of all the startup activity 2 Link to comment Share on other sites More sharing options...
ethlaw Posted October 28, 2019 Share Posted October 28, 2019 Anyone know where they are going to be putting these new offices? I'm surprised that wasn't part of the new announcement. 1 Link to comment Share on other sites More sharing options...
YABO713 Posted October 28, 2019 Share Posted October 28, 2019 10 minutes ago, KJP said: Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. I just hope they transplant some people from London - those accents are quite lovely 3 Link to comment Share on other sites More sharing options...
KJP Posted October 28, 2019 Share Posted October 28, 2019 (edited) 7 minutes ago, YABO713 said: I just hope they transplant some people from London - those accents are quite lovely As long as they're from Yorkshire and not some Cockney from East London. Edited October 28, 2019 by KJP 1 1 “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
B767PILOT Posted October 28, 2019 Share Posted October 28, 2019 1 hour ago, MuRrAy HiLL said: We demand a direct Cleveland to London flight !!! Its interesting that they didnt choose a city with direct London flights. Maybe not as important as one is led to beleive 1 1 Link to comment Share on other sites More sharing options...
bjk Posted October 28, 2019 Share Posted October 28, 2019 19 minutes ago, B767PILOT said: Its interesting that they didnt choose a city with direct London flights. Maybe not as important as one is led to beleive Or they don't expect that much travel back and forth Link to comment Share on other sites More sharing options...
Pugu Posted October 28, 2019 Share Posted October 28, 2019 1 hour ago, KJP said: Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. I have no idea, how big has Alexander Mann gotten in Cleveland? Link to comment Share on other sites More sharing options...
Pugu Posted October 28, 2019 Share Posted October 28, 2019 The PD is so incompetent, they keep downgrading the news while thinking they're reporting something great. The LSE announcement is for the AMERICAS----that's North and South America---that's a really really really big deal. It means the LSE won't be opening up shop in Mexico City or Sao Paulo (the New York of south america), but instead do all those deals from Cleveland. But the PD keeps calling it "North America". I think they don't understand what "Americas" means or that they think "North America" is a bigger deal the full hemisphere. 2 Link to comment Share on other sites More sharing options...
MuRrAy HiLL Posted October 28, 2019 Share Posted October 28, 2019 28 minutes ago, Pugu said: I have no idea, how big has Alexander Mann gotten in Cleveland? I dunno know, but this map always males me smile, to see Cleveland on the list with some true Global cities. http://alexandermannsolutions.com/global-locations Same with Plug and Play: https://www.plugandplaytechcenter.com/locations/ Link to comment Share on other sites More sharing options...
mrclifton88 Posted October 28, 2019 Share Posted October 28, 2019 https://www.crainscleveland.com/breaking-news/london-based-company-picks-cleveland-north-american-headquarters The Crains article does not reveal the exact location but does say it will be downtown: "The London Stock Exchange Group's Elite, formed in 2012 and currently working with 1,200 businesses in 43 countries, will locate in downtown Cleveland in 2020. The subsidiary of the London Stock Exchange is an international business support and capital-raising company aimed at helping small and midsize enterprises (SME). It selected Cleveland as the headquarters site after a three-day visit in September 2019." 3 Link to comment Share on other sites More sharing options...
KJP Posted October 28, 2019 Share Posted October 28, 2019 1 minute ago, mrclifton88 said: https://www.crainscleveland.com/breaking-news/london-based-company-picks-cleveland-north-american-headquarters The Crains article does not reveal the exact location but does say it will be downtown: "The London Stock Exchange Group's Elite, formed in 2012 and currently working with 1,200 businesses in 43 countries, will locate in downtown Cleveland in 2020. The subsidiary of the London Stock Exchange is an international business support and capital-raising company aimed at helping small and midsize enterprises (SME). It selected Cleveland as the headquarters site after a three-day visit in September 2019." My bet is CityBlock. No insider info. Just seems to fit. 2 “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
surfohio Posted October 28, 2019 Share Posted October 28, 2019 3 hours ago, KJP said: As long as they're from Yorkshire and not some Cockney from East London. What? You don't want to hear "Shoine ya shooze, guvnahhh?" whilst walking through Public Square? 2 1 1 Link to comment Share on other sites More sharing options...
simplythis Posted October 28, 2019 Share Posted October 28, 2019 Jack Casino Sale/Leaseback. https://www.wkyc.com/article/news/local/cleveland/jack-cleveland-casino-and-jack-thistledown-racino-sold-to-vici-properties-for-843-million/95-e52046b3-d53b-4e4a-aaa9-6ffda8f099c7 Link to comment Share on other sites More sharing options...
B767PILOT Posted October 28, 2019 Share Posted October 28, 2019 2 hours ago, bjk said: Or they don't expect that much travel back and forth But even some travel would indicate that a connection is of no problem to them Link to comment Share on other sites More sharing options...
MuRrAy HiLL Posted October 29, 2019 Share Posted October 29, 2019 (edited) Found them on Twitter: https://mobile.twitter.com/_ELITEGroup_/status/1188784972813000704 Edited November 4, 2019 by MuRrAy HiLL Link to comment Share on other sites More sharing options...
cle_guy90 Posted October 29, 2019 Share Posted October 29, 2019 (edited) I think what is encouraging about the job creation tax credit that three Cleveland companies received is not the number of jobs created (although 447 is great), but the total payroll the jobs will bring in (41.6 million or ~93k per job). https://www.crainscleveland.com/government/three-cleveland-companies-receive-state-tax-credits-new-projects Edited October 29, 2019 by cle_guy90 3 Link to comment Share on other sites More sharing options...
Mendo Posted October 29, 2019 Share Posted October 29, 2019 That's great news. These are technology companies so hopefully the positions are in software and R&D. Brightedge Technologies Inc - 9 year, 2.085% for 147 new full time employees eResearch Technology Inc. - 8 year 2.17% credit for 100 new full-time employees, generating $7 million in new annual payroll. OnShift Inc. - 7 year 1.289% credit for 200 new full time employees adding $19.5 million in annual payroll 1 Link to comment Share on other sites More sharing options...
YABO713 Posted October 29, 2019 Share Posted October 29, 2019 Cross-posting here... Hi guys and gals - I'll start off by making all necessary disclaimers. First, I will be speaking at the below event. Second, UrbanOhio isn't sponsoring or sanctioning it. Having said that - I thought it might at least be of interest to many of you. As I said, I'll be speaking to the Cleveland Engineering Society on November 19th regarding cyber threats currently facing the construction and manufacturing industries. I promise, I'm not trying to pimp myself out here, rather, just thought I would let everyone know, as I suspect there will be a decent cross-section of industries represented, which may present valuable networking in addition to whatever modest information I may bring to the table. If you want to or intend on coming, please let me know and I'll be sure to come talk to you before or after. Again, sorry if this comes off as shameless self-promotion, just figured some of the industry-relevant professionals on here may be interested. https://www.cesnet.org/EVENTS#id=165&cid=1275&wid=501&type=Cal 4 Link to comment Share on other sites More sharing options...
mrnyc Posted October 31, 2019 Share Posted October 31, 2019 On 10/29/2019 at 2:11 PM, YABO713 said: Cross-posting here... Hi guys and gals - I'll start off by making all necessary disclaimers. First, I will be speaking at the below event. Second, UrbanOhio isn't sponsoring or sanctioning it. Having said that - I thought it might at least be of interest to many of you. As I said, I'll be speaking to the Cleveland Engineering Society on November 19th regarding cyber threats currently facing the construction and manufacturing industries. I promise, I'm not trying to pimp myself out here, rather, just thought I would let everyone know, as I suspect there will be a decent cross-section of industries represented, which may present valuable networking in addition to whatever modest information I may bring to the table. If you want to or intend on coming, please let me know and I'll be sure to come talk to you before or after. Again, sorry if this comes off as shameless self-promotion, just figured some of the industry-relevant professionals on here may be interested. https://www.cesnet.org/EVENTS#id=165&cid=1275&wid=501&type=Cal interesting timing --- i just read the vanity fair sandworm article yesterday .... and i am mortified! i dk why trump cuddles up to these russians ... anyway, people might want to read it before they come to your talk ... but do so at your own mental health risk folks .... yikes! https://www.vanityfair.com/news/2019/10/the-discovery-of-sandworm-the-worlds-most-dangerous-hackers 1 Link to comment Share on other sites More sharing options...
YABO713 Posted October 31, 2019 Share Posted October 31, 2019 ^Lol and my wife wonders why I won’t let us get Roombas or Amazon Echo 2 1 Link to comment Share on other sites More sharing options...
freefourur Posted October 31, 2019 Share Posted October 31, 2019 ^ Alexa, could you please record everything that goes on in the house....Thanks. 2 Link to comment Share on other sites More sharing options...
MyTwoSense Posted November 2, 2019 Share Posted November 2, 2019 On 10/31/2019 at 2:03 PM, YABO713 said: ^Lol and my wife wonders why I won’t let us get Roombas or Amazon Echo WHAT? You're living like cave people! I love my powerbot. Well, I did. I'm currently morning the loss of my Darth Vader powerbot. I think my nephew and the whippersnapper conspired against Darth. Link to comment Share on other sites More sharing options...
Mendo Posted November 4, 2019 Share Posted November 4, 2019 Some speculation about the future product at the Ford Avon plant. An electric vehicle that was slated for assembly at the Mustang plant in Flat Rock, MI, may instead go to Avon. Interesting to see how that ties into the closed Ford plants in Brookpark and Walton Hills. The name thrown around earlier this year was Rivian as a potential buyer, which Ford is a large investor in. https://www.crainscleveland.com/manufacturing/ford-said-shift-plans-again-underused-mustang-plant Quote Ford is said to shift plans again for underused Mustang plant STAN BULLARD Ford Motor Co. is changing course a third time in as many years with its Mustang assembly plant in Michigan, nixing plans to make a new model there and tentatively shifting production to a factory in Ohio, according to people familiar with the matter. Ford no longer intends to build electric vehicles alongside Mustangs at its plant in Flat Rock, south of Detroit, according to the people, who asked not to be identified. The product now appears to be heading to the automaker's plant in Avon Lake, where it's investing $900 million to build an unspecified new product in 2023. ... 1 Link to comment Share on other sites More sharing options...
KJP Posted November 4, 2019 Share Posted November 4, 2019 Wow, that's very interesting (and potentially huge!) considering that Rivian is supposed to build the frames for the a Mustang-inspired crossover EV. That change of plans by Ford could be a very significant "tell." “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
YO to the CLE Posted November 4, 2019 Share Posted November 4, 2019 (edited) @KJPyou will appreciate this...I am oddly obsessed with logistics as I feel, in general, there is a lot of potential streamlining to be done...With that being said, I just looked on google maps and realized something AWESOME. Ford Motor's former plants in Walton Hills and Avon as well as the half operating engine plant in Brook Park are all directly along or just off of Norfolk Southern's mainline. Ford could theoretically stamp out frames for new electric vehicles in Walton Hills, build the engines in Brook Park, and assemble everything at Avon. Ohh and move everything by local rail service along the entire way. This could be huge and a very large win for the region. **Edit** I should say that they would partner with Rivan while doing this. Who would own and mange which production at which factory is hopefully being discussed Edited November 4, 2019 by YO to the CLE 2 Link to comment Share on other sites More sharing options...
KJP Posted November 4, 2019 Share Posted November 4, 2019 6 minutes ago, YO to the CLE said: @KJPyou will appreciate this...I am oddly obsessed with logistics as I feel, in general, there is a lot of potential streamlining to be done...With that being said, I just looked on google maps and realized something AWESOME. Ford Motor's former plants in Walton Hills and Avon as well as the half operating engine plant in Brook Park are all directly along or just off of Norfolk Southern's mainline. Ford could theoretically stamp out frames for new electric vehicles in Walton Hills, build the engines in Brook Park, and assemble everything at Avon. Ohh and move everything by local rail service along the entire way. This could be huge and a very large win for the region. And, as I noted in my Sept. 23 blog, the Rivian factory in Illinois is also on Norfolk Southern -- https://neo-trans.blogspot.com/2019/09/future-of-two-idled-cleveland-area-ford.html “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
cle_guy90 Posted November 4, 2019 Share Posted November 4, 2019 Right on topic. 1500 new jobs going to the Avon Lake plant! Huge get for the local economy! https://www.cleveland.com/business/2019/11/fords-900-million-investment-in-avon-lake-plant-will-create-1500-jobs-mayor-says.html 6 Link to comment Share on other sites More sharing options...
Dougal Posted November 7, 2019 Share Posted November 7, 2019 The recent list of privately-held companies published by Crain's is revealing. More extensive than ever it shows 117 area firms of which 35 make the print-version cut off. 18 of them are billion-dollar size in sales. Ok, #18 is only $995 million, but that's close enough. That's a lot of business activity that doesn't show up in the Fortune 1000 world. https://www.crainscleveland.com/data-lists/10573/privately-held-companies-2019 2 Es war ein heisser Nacht in Apalachicola als die asbest Vorhang gefällt. Link to comment Share on other sites More sharing options...
KJP Posted November 8, 2019 Share Posted November 8, 2019 And quite a few of them are fast growing. “What is the meaning of this city? Do you huddle close together because you love each other?” Or “We all dwell together to make money from each other”? -- TS Eliot’s The Rock Link to comment Share on other sites More sharing options...
cle_guy90 Posted November 9, 2019 Share Posted November 9, 2019 This article talks about the multiplying affect the 1500 jobs in Avon Lake will have on the economy. https://www.cleveland.com/business/2019/11/fords-1-billion-investment-in-avon-lake-and-brook-park-plants-could-boost-greater-cleveland-economy.html Could someone tell me what is trying to be said in these two paragraphs? Is the first paragraph talking about additional jobs that would be created directly related to auto manufacturing and the second group of jobs is related to retail, government jobs, and so forth by people spending their paycheck and paying their taxes? For every 100 jobs created in light-truck and utility vehicle manufacturing, 925 additional jobs could be created, Duritsky said. The economic activity generated from the investment and creation of these jobs could bring in an additional $7.8 million annually in state and local taxes. For every 100 jobs created in auto manufacturing, an additional 73 jobs could be created, generating an additional $506,000 in state and local taxes, he said. Link to comment Share on other sites More sharing options...
MyTwoSense Posted November 9, 2019 Share Posted November 9, 2019 47 minutes ago, cle_guy90 said: This article talks about the multiplying affect the 1500 jobs in Avon Lake will have on the economy. https://www.cleveland.com/business/2019/11/fords-1-billion-investment-in-avon-lake-and-brook-park-plants-could-boost-greater-cleveland-economy.html Could someone tell me what is trying to be said in these two paragraphs? Is the first paragraph talking about additional jobs that would be created directly related to auto manufacturing and the second group of jobs is related to retail, government jobs, and so forth by people spending their paycheck and paying their taxes? For every 100 jobs created in light-truck and utility vehicle manufacturing, 925 additional jobs could be created, Duritsky said. The economic activity generated from the investment and creation of these jobs could bring in an additional $7.8 million annually in state and local taxes. For every 100 jobs created in auto manufacturing, an additional 73 jobs could be created, generating an additional $506,000 in state and local taxes, he said. When you make more money you spend more. For instance, if you're working at a job paying X $$ you may dine out more. You may grocery shop twice a month. You may shop at retail once a month. If you have a job paying X $$$$ you may dine out more and at higher scale locations. You may shop and at high scale locations. You may live in a home where you employ a Lawyer, maid, Gardner, and renovate the home, creating X number of jobs. Link to comment Share on other sites More sharing options...
cle_guy90 Posted November 9, 2019 Share Posted November 9, 2019 5 minutes ago, MyTwoSense said: When you make more money you spend more. For instance, if you're working at a job paying X $$ you may dine out more. You may grocery shop twice a month. You may shop at retail once a month. If you have a job paying X $$$$ you may dine out more and at higher scale locations. You may shop and at high scale locations. You may live in a home where you employ a Lawyer, maid, Gardner, and renovate the home, creating X number of jobs. Okay so my understanding is right then I believe. The first paragraph is talking about additional jobs actually related to the vehicle manufacturing and the second paragraph is related to those people spending their money? Link to comment Share on other sites More sharing options...
MyTwoSense Posted November 9, 2019 Share Posted November 9, 2019 13 minutes ago, cle_guy90 said: Okay so my understanding is right then I believe. The first paragraph is talking about additional jobs actually related to the vehicle manufacturing and the second paragraph is related to those people spending their money? that is how I interpreted that passage. 1 Link to comment Share on other sites More sharing options...
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