April 21, 200718 yr And just an FYI, folks, here is the 2006 GMP list. As you can see, Cincinnati and Cleveland are essentially the same. 25. Cleveland-Elyria-Mentor, OH - $83.6 billion 26. Cincinnati-Middletown, OH - $78.2 billion 33. Columbus, OH - $69.1 billion 58. Dayton, OH - $32.2 billion 72. Akron, OH - $25.2 billion 74. Toledo, OH - $24.9 billion 93. Youngstown-Warren, OH - $18.9 billion 130. Canton-Massillon, OH - $13.6 billion 188. Huntington-Ashland-Ironton, OH - $8 billion 253. Parkersburg-Marietta, OH - $5.2 billion 276. Mansfield, OH - $4.6 billion 286. Wheeling-St. Clairsville, OH - $4.5 billion 292. Lima, OH - $4.3 billion 301. Springfield, OH - $4 billion 322. Weirton-Steubenville, OH - $3.6 billion 353. Sandusky, OH - $2.9 billion This also shows that the number of Fortune 500 HQs doesn't necessarily equate to who has the most powerful economy... as Dayton... with only 1 Fortune 500 is well ahead of Toledo... which has 3 Fortune 500s.
April 25, 200718 yr It also doesn't take into account the type of business influence as well. For example, all of Toledo's three Fortune 500 companies focus mostly on glass, which really isn't any different than Dayton's focus on NCR or Akron's focus on Goodyear/Firestone. Cincinnati's diversified economy is certainly more "influential" than having companies similar in nature. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
April 25, 200718 yr ^ I guarantee you that the average Cincinnatian can't even name half of the brands that are just under P&G alone ... Look at this shit ... Air Fresheners Febreze Air Fresheners Antiperspirants & Deodorants Old Spice Secret Baby & Child Care Charmin Children's Pepto Dreft Luvs Pampers Pampers Kandoo Puffs Batteries Duracell Body Wash & Soap Camay Ivory Noxzema Olay Old Spice Safeguard Zest Colognes Old Spice Commercial Products Cosmetics CoverGirl Max Factor Dish Washing Cascade Dawn Ivory Joy Feminine Care Always Tampax Hair Care Aussie Head & Shoulders Herbal Essences Infusium 23 Pantene Hair Color Clairol Health Care Align Braun Fibersure Metamucil Pepto-Bismol Prilosec OTC ThermaCare Vicks Household Cleaners Bounty Febreze Air Fresheners Mr. Clean Mr. Clean AutoDry Carwash Swiffer Laundry & Fabric Care Bounce Cheer Downy Dreft Era Febreze Air Fresheners Gain Ivory Tide Oral Care Braun Crest Crest Glide Crest Whitestrips Fixodent Gleem Scope Oral-B Paper Products Bounty Charmin Puffs Pet Nutrition Eukanuba Iams Prescription Drugs Actonel Asacol Dantrium Dantrium IV Didronel Enablex Macrobid Macrodantin Prestige Fragrances BALDESSARINI BOSS BOSS SKIN bruno banani ESCADA Ghost Giorgio Beverly Hills HUGO LACOSTE NAOMI CAMPBELL PUMA Valentino Shaving Braun Gillette Fusion Gillette M3Power Gillette SatinCare Gillette Venus Skin Care Braun Gillette Complete Skincare Noxzema Olay Small Appliances Braun Snacks & Coffee Folgers Home Café Millstone Pringles That list is just sick ...
April 25, 200718 yr I gurantee you probably no one on this planet knows all of P&G's subsidiaries because A) there's too many to remember unlike GM. and B) I don't think people care too much about who the owner of their brand of toothpaste (or whatever) is.
April 26, 200718 yr What no Smuckers?! They came in 39th on the best to work for list. I think that would be the best for Ohio.
April 26, 200718 yr Cincy-rise, Doesn't PG also own Murphy's Oil Soap? Murphy sold it back in the early 90s. He's donated over $50 million to my alma mater because of it (St Ignatius).
April 26, 200718 yr I gurantee you probably no one on this planet knows all of P&G's subsidiaries because A) there's too many to remember unlike GM. and B) I don't think people care too much about who the owner of their brand of toothpaste (or whatever) is. I knew about 85% ONLY because most of those brands are advertisers. But like Mov states, the company is large, so the average consumer would never know all the brands. Its very similar to Time Warner, but all of our brands/companies (except things we co-own) have the "a time warner company" tag.
April 26, 200718 yr B) I don't think people care too much about who the owner of their brand of toothpaste (or whatever) is. Hmmm ... I beg to differ ... ;)
April 26, 200718 yr I think we all would want 10 Fortune 500 companies, and a bunch of new, growing companies. One thing that the big companies give you is other peripheral companies. Kroger is the reason the UK marketing company dunnhumby located their US headquarters downtown. And with companies like P&G, Federated, Kroger, and Chiquita, a lot of branding, packaging, and ad agencies have increased their employment over the past few years. There was an article about this cluster not too long ago, but this is a strength that should continue to be developed within smaller companies that serve the large ones. Ultimately, you would want companies that are growing and are positioned for growth in the future. That is what keeps the economy going - you hope to get a few relo's, but most growth comes internally and from the spin-off jobs. GM and Ford are huge, for example, but the outlook is not very bright. Thankfully, Toyota is picking up some slack in this area, but it would not be good to be too dependent on the wrong company.
April 26, 200718 yr Cincy1, I thought about the same thing considering Landor. A huge marketing and branding company like that, that shares locations in SanFran, Cincinnati, Manhattan, and Chicago.
April 26, 200718 yr Proctor and Gamble and the other large corporations are the reason many people chose to go to UC. People tend to want to work for a giant corporation, thinking they'll make more money.
April 26, 200718 yr My wife works in recruiting, especially in this area, and she has seen first-hand the growth in many of them. I think Landor is expanding again in the old Lazarus building, and when you look at the other cities they are in they do have an impressive presence here. Plus many of these are the creative type jobs we read so much about. Cincy1, I thought about the same thing considering Landor. A huge marketing and branding company like that, that shares locations in SanFran, Cincinnati, Manhattan, and Chicago.
April 26, 200718 yr ^ Yes, they've expanded and are still expanding (I used to live in the Shillito Lofts).
April 26, 200718 yr To really gauge the impact of having Fortune 500 HQs in a city/region (in the absence of a economic study telling you the GDP impact of the F500 company specifically in the home city/region), I think the next step would be to take the Ohio Fortune 500 companies and find out how many people they employee in their hometown/region. I think it would vary quite a bit. Not every Fortune 500 firm is going to be as central to the city's economy as the other. Speaking from a Cleveland standpoint for example, I would think that Progressive employs quite a few more employees within Cleveland than Parker Hannifin. This is because Progressive is a centralized firm focused on one core business that grew in Cleveland. On the other hand, Parker Hannifin is an extremely decentralized firm that has grown through hundreds (if not thousands - and I'm not joking) acquisitions and has something like 150 divisions with divisional HQs scattered throughout the world. It has its central HQ here, and some divisional HQs, but much of its economic impact is scattered. Therefore, having the Fortune 500 headquarters of Progressive would theoretically have much more of an impact on Cleveland's economy and would be much more indicative of the health of Cleveland's economy than having Parker's HQ. I would think this would be a more systematic way of judging the impact of an F500 firm on a home region. In other words, I really don't think the total number of F500 companies in a home/city region means a can of beans unless you look at it in more detail.
April 26, 200718 yr The only disappointing thing about the Ohio f500 list, for me, is the lack of "new economy" companies. There's no Dell, Google or Microsoft. It's basically grocery/department stores, paint, rubber, glass, steel, insurance, financial. It's a very diversified state in terms of "old economy". Maybe I'm wrong on this one, but this may be one of the reasons why Ohio's economy only goes so far.
April 26, 200718 yr The only disappointing thing about the Ohio f500 list, for me, is the lack of "new economy" companies. There's no Dell, Google or Microsoft. It's basically grocery/department stores, paint, rubber, glass, steel, insurance, financial. It's a very diversified state in terms of "old economy". Maybe I'm wrong on this one, but this may be one of the reasons why Ohio's economy only goes so far. Yeah but we live in an age of consumerism. Finance and consumer products are a big part of everyone's lives! :] For now, anyway.
April 26, 200718 yr It doesn't always work that way, but in general, most large corporations that are still headquarted in Ohio stayed here because they care about the livelihood of this great state. The big companies that are left tend to be good corporate citizens...granted, Ohio has lost A LOT, but we have mainly lost the companies strictly looking at profit margins/stock performance. :| I'm going to disagree because I think that's way too general of a statement. I would guess that more than half of all Fortune 500 HQs that have been lost are due to the company being bought by a larger company with a HQ in another city, not because they simply decide to pick up and move elsewhere. Could a company NOT agree to a sale because they know that it would hurt their home city/region to lose the HQ? Yes, but when the acquiring company is paying 30-40% premiums on the stock price, they would have to go a long way to be able to show why the sale is not the best option for their shareholders; otherwise, they wouldn't be following their fiduciary responsibilities to run the company in the shareholders' interests. Now, as for the HQs that just pick and move on their own, I agree with what you're saying.
April 26, 200718 yr The only disappointing thing about the Ohio f500 list, for me, is the lack of "new economy" companies. There's no Dell, Google or Microsoft. It's basically grocery/department stores, paint, rubber, glass, steel, insurance, financial. It's a very diversified state in terms of "old economy". Maybe I'm wrong on this one, but this may be one of the reasons why Ohio's economy only goes so far. That's a good point! I've thought about this as well. I mean, I'd rather have a P&G over Google, but the amount of 25-35 year olds that a company like Apple, MS, and Google bring to the table has to be amazing (versus other age groups). Although not "headquartered" in Cincy, Siemens, Xerox, and GE Aviation do have a large corporate presence that bring a lot of jobs to the area in the field of Technology.
April 26, 200718 yr The only disappointing thing about the Ohio f500 list, for me, is the lack of "new economy" companies. There's no Dell, Google or Microsoft. It's basically grocery/department stores, paint, rubber, glass, steel, insurance, financial. It's a very diversified state in terms of "old economy". Maybe I'm wrong on this one, but this may be one of the reasons why Ohio's economy only goes so far. That's a good point! I've thought about this as well. I mean, I'd rather have a P&G over Google, but the amount of 25-35 year olds that a company like Apple, MS, and Google bring to the table has to be amazing (versus other age groups). Although not "headquartered" in Cincy, Siemens, Xerox, and GE Aviation do have a large corporate presence that bring a lot of jobs to the area in the field of Technology. But see...this brings me back to my original point. Looking at companies you've listed along with f500 companies in the Cincinnati area...it's not suprising to me that Cincy floats around the national average in terms of unemployment and the area has a below average job and population average growth rate vs. the rest of the U.S. Is the economic picture rosier than Cleveland? Hell, yeah. Will it ever become an economic juggernaut like San Francisco, Washington or Atlanta? Hell, no. Ohio as a whole can do alot better, and that includes Cincinnati as well.
April 26, 200718 yr ^^Big Lots!...Jesus, that makes Value City look like Saks Fifth Avenue. Big Lots? Value City? What are these?
April 26, 200718 yr Although not "headquartered" in Cincy, Siemens, Xerox, and GE Aviation do have a large corporate presence that bring a lot of jobs to the area in the field of Technology. Great point. GE Aviation alone probably employs as many people as some of the other Fortune 500 companies in Cincinnati. That's why the Fortune 500 list isn't a great indicator of economic health/strength. A different city may have 20 examples of a GE Aviation -- a large business unit with a significant economic presence equal to that of other Fortune 500 HQs -- without having any of its own Fortune 500 HQs. And this city may be just as economic healthy & vibrant (or not) as any city in Ohio.
April 26, 200718 yr ^^Big Lots!...Jesus, that makes Value City look like Saks Fifth Avenue. Big Lots? Value City? What are these? Only white people from Parma shop at these places. Don't worry about it. :)
April 26, 200718 yr Only white people from Parma shop at these places. Don't worry about it. :) Oh thank goodness! Theres nothing wrong with Value City you yuppie bastards I'm officially to old to be a "yuppie" :-P
April 26, 200718 yr Well, on the topic where someone said that Ohio's fortune 500's are made up of mostly retail, banking, etc (old economy) have you forgot that the LARGEST is columbus (actually Dublin's) Cardinal Healthy? a company that does perscription drugs, and health care, thats a pretty techy/research based company. Also, Columbus has Hexion Chemical which was formed out of a merger with Columbus based Borden and a Texas company, then they relocated the larger company to Columbus. The company does research and owns labs. That is one of the fastest growing larger companies in the state (cosidering they weren't even on the fortune list a few years ago), and they are headquarted in downtown columbus on Broad St.
April 26, 200718 yr Well, on the topic where someone said that Ohio's fortune 500's are made up of mostly retail, banking, etc (old economy) have you forgot that the LARGEST is columbus (actually Dublin's) Cardinal Healthy? a company that does perscription drugs, and health care, thats a pretty techy/research based company. Also, Columbus has Hexion Chemical which was formed out of a merger with Columbus based Borden and a Texas company, then they relocated the larger company to Columbus. The company does research and owns labs. That is one of the fastest growing larger companies in the state (cosidering they weren't even on the fortune list a few years ago), and they are headquarted in downtown columbus on Broad St. I agree with ya. Columbus is more high tech than the other 2 C's.
April 26, 200718 yr ... Will it ever become an economic juggernaut like San Francisco, Washington or Atlanta? Hell, no. "Hell, no"??? I'm not sure I'd put it that way ... I mean they aren't doing that well compared to cities like Birmingham, etc ... And the same can be said for California VS. Ohio, or Georgia VS. Ohio ...
April 26, 200718 yr Ohio’s High-Tech Industry Adds 1,200 Jobs High-Tech Services Sectors Drive First Year of Job Growth Since 2000 Oakbrook Terrace, IL (April 24, 2007) – AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, today released its 10th anniversary Cyberstates report detailing national and state trends in high-tech employment, wages, and other key economic factors. The report, Cyberstates 2007: A Complete State-by-State Overview of the High-Technology Industry, covers all 50 states, the District of Columbia, and Puerto Rico. Ohio's high-tech industry gained 1,200 jobs in 2005, the most current state data available. Driven by significant gains in high-tech services such as computer systems design and related services (+2,800) and R&D and testing labs (+1,400), Ohio is starting to make up for job losses resulting from the consolidation of the telecommunications industry and a shrinking tech manufacturing base. "After several years of job losses in the high-tech industry, Ohio is finally turning the corner and adding jobs,” said Ed Longanecker, Executive Director, AeA’s Midwest Council. "Tech manufacturing continues to struggle, but Ohio experienced growth in the services sectors, including software services and engineering and tech services.” “To promote long-term growth of technology jobs in Ohio,” continued Longanecker, “state and local policymakers need to sharpen their focus on the math and science education of our children and the skills of our workforce. If Ohioans do not have the skills and education to fill these high paying jobs, companies will look elsewhere to set up operations." Nationally, Cyberstates 2007 shows that the high-tech industry is picking up. High-tech employment was up by 146,600 out of 5.8 million workers in 2006, the second year in a row that the U.S. tech industry has added jobs. This 10th edition of Cyberstates provides a comprehensive review of the high-tech industry nationally and state-by-state in terms of high-tech employment, wages, payroll, and establishments. Cyberstates also offers data on venture capital investments and R&D expenditures. A national and state-by-state analysis of the technology industry and international trade will appear in a forthcoming AeA report entitled Trade in the Cyberstates 2007: A State-by-State Overview of High-Tech International Trade. AeA members can purchase Cyberstates 2007 for $125; non-members for $250. Visit www.aeanet.org/cyberstates to download the report, or call 408.987.4200. What Does High Tech Mean for Ohio? 152,400 high-tech workers (15th ranked cyberstate) 1,200 jobs added between 2004 and 2005 High-tech firms employed 33 of every 1,000 private sector workers in 2005, ranked 36th nationwide High-tech workers earned an average wage of $60,900 (31st ranked), or 65 percent more than Ohio's average private sector wage A high-tech payroll of $9.3 billion in 2005, ranked 16th nationwide 10,400 high-tech establishments in 2005, ranked 12th nationwide Venture capital investments of $43.5 million in 2006, ranked 28th R&D expenditures of $8 billion in 2004, ranked 12th nationwide Ohio’s National Industry Sector Rankings: 9th in measuring and control instruments manufacturing employment with 7,900 jobs 11th in R&D and testing labs employment with 19,500 jobs 12th in computer systems design and related services employment with 41,800 jobs Source: Cyberstates 2007 Data are for 2005 unless otherwise noted. 2005 state data are the most current available for employment, wages, payroll, establishments, and industry sector jobs. Published by AeA, Advancing the Business of Technology (www.aeanet.org) - # # # - About AeA AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs. For more information, please visit http://www.aeanet.org. This page was last updated on 04/23/07. http://www.aeanet.org/pressroom/prjj_cs2007_ohio.asp
July 11, 200717 yr Ohio comes in at an impressive 5th place with the most headquarters of Fortune 500 companies (after New York, Texas, California and Illinois): http://money.cnn.com/magazines/fortune/fortune500/2007/states/OH.html The dominance of Cincinnati, Cleveland and Columbus shows in these rankings, but Ohio has a good amount of these corporate headquarters distributed throughout the state, particularly when compared with states like New York, Illinois or Georgia.
July 11, 200717 yr Procter and Gamble made 8 billion in profit last year. That means, that's cash after paying all it bills besides taxes.
July 12, 200717 yr so #30 marathon oil is no longer in findlay? shameful. #280 office max? grumble. :|
March 11, 200817 yr Biggest firms enhance region BY KEITH T. REED | CINCINNATI ENQUIRER March 11, 2008 The Cincinnati area gets a greater community benefit from the presence of its 10 Fortune 500 companies than many metropolitan areas its size, according to an updated University of Cincinnati report. Researchers at the university's Economics Center for Education and Research gave Cincinnati a 183.3 on its "Fortune 500 HQ's Benefits Index" - ranking the city ninth among metropolitan areas of 2 million to 4 million people. That was behind cities such as Baltimore, Minneapolis-St. Paul and Denver, but higher than other cities in Ohio including Akron and Columbus. ... More at: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080311/BIZ01/803110331/1076/BIZ
March 11, 200817 yr I seem to remember a while back getting into an argument with some forumers who said that the local fortune 500's don't do as much for the city as they should. I think Columbus/Nationwide was used as an argument, as well as some company in Indy...so much for that!
March 11, 200817 yr I remember that discussion as well...and to be honest I kind of went along with it, but it might just be a case of the Cincinnati companies doing things that aren't quite as noticable as spearheading an arena district or monorail thingee per se. The arts in Cincinnati are very well-funded and compete with the big-dogs when there is very little else that Cincy can even remotely compete in with those same top-tier cities. That should not be overlooked.
March 11, 200817 yr Regarding that argument, it was in regards to downtown redevelopment (re: Nationwide and the Arena District; Schottenstein and the Brewery District; etc). But as you say, it's about the visible speerheading instead of the behind-the-scenes stuff. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
March 12, 200817 yr What's great are the numerous support companies that exist across the region to serve these companies. The problem I see is that our local company could be a little more diverse.
April 21, 200817 yr New York NY 43 Houston TX 25 Dallas TX 12 Chicago IL 12 Atlanta GA 9 St. Louis MO 8 Charlotte NC 7 Columbus OH 7 Minneapolis MN 7 Philadelphia PA 7 Cincinnati OH 6 Los Angeles CA 6 Milwaukee WI 6 Pittsburgh PA 6 Richmond VA 6 San Francisco CA 6 Seattle WA 6 Cleveland OH 5 San Antonio TX 5 http://money.cnn.com/magazines/fortune/fortune500/2008/cities/
April 21, 200817 yr The list should be ranked by DMA. Then they could include companies like Progressive in Mayfield Heights and First Energy in Akron. Also, companies like Lubrizol #505, NACCO Industries #591, RPM International #619, are on the cusp, all of which would push Cleveland's list way up.
April 21, 200817 yr This list is for city limits only. Cincinnati has a total of 9 in the metro area. One dropped out from last year. Cincinnati has a total of 3 that can make the list at anytime.
April 21, 200817 yr The list should be ranked by DMA. Then they could include companies like Progressive in Mayfield Heights and First Energy in Akron. Also, companies like Lubrizol #505, NACCO Industries #591, RPM International #619, are on the cusp, all of which would push Cleveland's list way up. This list only contains businesses with a Corporate address within the mother city limits. I've been trying to see if this can be change or a "regional" list added, however, it's out my realm of power. :whip: :roll::whip: Some "city's" and or "metro regions" suffer because of the "city" listing, Cleveland being a prime example. However, the area needs to work to move those HQ's downtown, but that is a personal position and not related to the topic at hand. If we included the burbs, Cleveland would get 5 more, not including the Akron-Canton area. Note: Mods, we already have a fortune 500 thread, can this be merged in to it? http://www.urbanohio.com/forum2/index.php/topic,15571.0.html
April 22, 200817 yr Nine Greater Cincinnati firms make Fortune 500 April 21, 2008 | CINCINNATI BUSINESS COURIER Cincinnati and Northern Kentucky can count nine Fortune 500 headquarters, with seven more in the Fortune 1000, according to the magazine's 2008 rankings. Among the top 100 companies, Procter & Gamble Co. (NYSE: PG) ranked 23rd, with $76.5 billion in revenues, followed by Kroger Co. (NYSE: KR) at No. 26, with $70.2 billion, and Macy's Inc. (NYSE: M), at No. 91, with $26.3 billion. The other local Fortune 500 firms include: Fifth Third Bancorp (NASDAQ: FITB) at 307; Ashland Inc. (NYSE: ASH), 322; AK Steel Holdings (NYSE: AKS), 351; Omnicare Inc. (NYSE: OCR), 386; Western Southern Financial Corp., the only local private company in the ranking, 480; and Chiquita Brands International Inc. (NYSE: CQB), 491. ... More at: http://cincinnati.bizjournals.com/cincinnati/stories/2008/04/21/daily7.html
April 22, 200817 yr 11 NE Ohio companies make Fortune 500 list Northeast Ohio fared well on this year's Fortune 500 list, with 11 local companies making the annual ranking of America's corporations with the most revenue, some despite ongoing struggles. Westlake-based TravelCenters of America LLC, which operates convenience stations catering to truckers and travelers, debuted at No. 395 after going public last year, when the 500 list included 10 local businesses. TravelCenters spokesmen did not return several requests for comment Monday. ... More at: http://blog.cleveland.com/business/2008/04/11_ne_ohio_companies_make_fort.html
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