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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 by cle_guy90
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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

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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 

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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

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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.

 

evil revenge of the sith GIF by Star Wars

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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.

...

 

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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."


"The boss rolls up in a new Lamborghini and tells his staff 'The greatest part about America is that hard work breeds wealth. So if you work hard and dedicate yourself tirelessly to the task at hand, I can get another new Lamborghini next year.'” -- Overheard in a Cleveland bar.

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@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 by YO to the CLE
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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


"The boss rolls up in a new Lamborghini and tells his staff 'The greatest part about America is that hard work breeds wealth. So if you work hard and dedicate yourself tirelessly to the task at hand, I can get another new Lamborghini next year.'” -- Overheard in a Cleveland bar.

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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

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And quite a few of them are fast growing. 


"The boss rolls up in a new Lamborghini and tells his staff 'The greatest part about America is that hard work breeds wealth. So if you work hard and dedicate yourself tirelessly to the task at hand, I can get another new Lamborghini next year.'” -- Overheard in a Cleveland bar.

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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.

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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.

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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?

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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.

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3 hours 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.

 

No, something is wrong with those numbers. Manufacturing DOES have a high multiplier effect compared to many other industries. For example for durable manufacturing for every 100 jobs created in that field, 289.1 supplier jobs are created and 454.9 induced jobs (dry cleaners, restaurants, etc.) for a total of 744.1 total indirect jobs. Retail trade brings in 122 jobs per 100. That 744 is an average for durable manufacturing. Its not logical that SUV production brings in 925 jobs per 100, but autos bring in only 73--lower than retail jobs. The SUV number may be accurate, but the auto number certainly isn't.

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11 minutes ago, roman totale XVII said:

Buffalonians putting a huge jolt into the Cleveland economy tonight. Downtown is absolutely full of them!

i think this happens with any football game or 2 or more series with the Indians. 

 

I commented in the browns thread that during the Jets game, I felt like Cleveland has overtaken, Manhattan.

 

I wish we still had an NHL hockey franchise, an WNBA and a MLS franchise to capitalize on tourist.

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It depends on the team.  Nearby teams like Buffalo, Pittsburgh, or Detroit always bring big weekends when they are visiting the Browns or Indians, or to a lesser extent the Cavs.  Otherwise it depends- Boston, NY, Chicago, Toronto- those city's sports fans always travel well.  I remember Raider's fans, surprisingly, being the same, but most west coast teams won't bring many fans with them all the way to Cleveland.  Some- not many.

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On 11/9/2019 at 10:38 PM, X said:

It depends on the team.  Nearby teams like Buffalo, Pittsburgh, or Detroit always bring big weekends when they are visiting the Browns or Indians, or to a lesser extent the Cavs.  Otherwise it depends- Boston, NY, Chicago, Toronto- those city's sports fans always travel well.  I remember Raider's fans, surprisingly, being the same, but most west coast teams won't bring many fans with them all the way to Cleveland.  Some- not many.

 

If you talk to Yankees fans, many travel to Cleveland to see their team because even with a flight and hotel, it's still cheaper than attending a game in the Bronx!   😃

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5 minutes ago, Cleburger said:

 

If you talk to Yankees fans, many travel to Cleveland to see their team because even with a flight and hotel, it's still cheaper than attending a game in the Bronx!   😃

 

There's a group of 54 of us (you heard that right lol) going to the game in Arizona... I booked airfare, ticket, a tailgate w/ food and booze, and hotel for a grand total of $480 for the weekend. 

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On 11/9/2019 at 8:44 PM, roman totale XVII said:

Buffalonians putting a huge jolt into the Cleveland economy tonight. Downtown is absolutely full of them!

I wish Buffalo was in the AFC North instead of Baltimore.  They would be a better geographical rival for the Browns, and probably for the Steelers as well.

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3 hours ago, skiwest said:

I wish Buffalo was in the AFC North instead of Baltimore.  They would be a better geographical rival for the Browns, and probably for the Steelers as well.

 

Yeah but we would lose the historical rivalry since that is our team... 

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3 hours ago, skiwest said:

I wish Buffalo was in the AFC North instead of Baltimore.  They would be a better geographical rival for the Browns, and probably for the Steelers as well.

 

The Steelers-Ravens rivalry is huge. I don't think Buffalo would be a more attractive match-up for them

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Another company, Chinese injection press manufacturer Tederic Machinery Co. Ltd., is placing its US headquarters in Cleveland.

 

Tederic Machinery establishing US headquarters near Cleveland

 

"...This fall, the company hired machinery veteran Tony Firth as vice president of sales and marketing for Tederic North America Inc. One of his first tasks: Find a suitable building in the 20,000- to 30,000-square-foot range in a good central location in the Midwest, the main U.S. region for injection press sales...."

 

https://www.plasticsnews.com/news/tederic-machinery-establishing-us-headquarters-near-cleveland

Edited by Pugu
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19 minutes ago, musky said:

I wonder where "near Cleveland" is

article says they are looking at Twinsburg and Cleveland.  I assume they want NE Ohio but narrowing their sites. This is good news for the region.

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The article says "near Twinsburg and Cleveland." So the bigger question is, what does near-Twinsburg mean? 🙂

 

BTW, that square footage could mean up to 200 office employees. And it would also fill a couple of floors in a downtown office tower. 😎

 

Although, by its description, it sounds more like a warehouse/showroom with some offices.

Edited by KJP
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"The boss rolls up in a new Lamborghini and tells his staff 'The greatest part about America is that hard work breeds wealth. So if you work hard and dedicate yourself tirelessly to the task at hand, I can get another new Lamborghini next year.'” -- Overheard in a Cleveland bar.

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Another article, this time from across the pond:

 

London Stock Exchange opens North-American headquarters in Cleveland, Ohio

By Dilara Kucuk - 05/11/2019

 

London Stock Exchange Group announced that it will open its North American headquarters for the Elite initiative in Cleveland, Ohio.

 

London Stock Exchange Group will start operating its Cleveland headquarters by the start of next year. 

 

Cleveland is one of the investment hubs of the United States. It is home to important cultural, educational and financial institutions.  

 

Elite initiative will hire an additional 40 employees with an annual payroll of $5 million.


https://ukinvestormagazine.co.uk/london-stock-exchange-opens-north-american-headquarters-in-cleveland-ohio/

 

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^This was a good sentence:  "Elite initiative will build a global connection between Cleveland and the rest of the world by facilitating Cleveland’s access to capital."

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Columbus Dispatch says Cleveland has the lowest unemployment rate among Ohio cities for October.  But, without reporting the actual numbers, they credit it to a drop in the employment pool.  This seems like a number waiting for revision.

 

https://www.dispatch.com/business/20191119/cleveland-has-lowest-unemployment-rate-among-states-metros-in-october

 

After further digging, I guess the numbers are from the BLS monthly. The drop of 35,000 in the workforce seems high compared to prior years.

 

Date/WorkForce/Employed/Unemployed/Rate

2019Jul 1069025 1014318 54707 5.1

2019Aug 1048726 1005740 42986 4.1

2019Sep 1042674 1000481 42193 4.0

2019Oct 1034543(P) 1001023(P) 33520(P) 3.2(P)

 

(P) for preliminary.

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12 minutes ago, Dougal said:

Columbus Dispatch says Cleveland has the lowest unemployment rate among Ohio cities for October.  But, without reporting the actual numbers, they credit it to a drop in the employment pool.  This seems like a number waiting for revision.

 

https://www.dispatch.com/business/20191119/cleveland-has-lowest-unemployment-rate-among-states-metros-in-october

 

Just looked at the bls numbers. 3.2% unemployment is pretty incredible. The labor force did drop by 700 people. But employment was up 13k YoY which is only a little bit higher to what it’s been doing recently (around 10-11k YOY). So to say the shrinking labor force is the main reason is misleading. Hopefully the labor force will start growing but at least employment is thriving.

Edited by cle_guy90

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Yes, but why is the labor force dropping, even if its only down 700 YOY? Is there a net loss of people entering/leaving the metro area? Is there a net loss of people in the workforce (ie: retiring boomers)?

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"The boss rolls up in a new Lamborghini and tells his staff 'The greatest part about America is that hard work breeds wealth. So if you work hard and dedicate yourself tirelessly to the task at hand, I can get another new Lamborghini next year.'” -- Overheard in a Cleveland bar.

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