October 4, 20213 yr 4 hours ago, amped91 said: And follow that up with the remainder of the companies promising jobs based on tax credits, totaling more than 1300 jobs in the area. Bark will be adding 500 jobs to Central Ohio as well. As a side note, they had occupied the fourth and fifth floors of the Gravity office building. At some point during the pandemic, they expanded onto the third floor as well. Makes me wonder if they’ll eventually just take over the entire building. Also adding jobs in Central Ohio are NetJets with 154, Lululemon with 150 and, and Vargo with 24. Those are in addition to greater than 1000 other new jobs promised throughout Ohio. Growing again in Columbus: Upstart, Original Bark Co. to add 500 jobs apiece https://www.dispatch.com/story/business/2021/10/04/original-bank-co-and-upstart-expanding-again-columbus/5987993001/ I was really happy about the Upstart news - and then the news came out about Bark also adding 500 jobs(!) Upstart gets top billing because its a pure tech company. But Bark's growth, best known for their monthly toy and treat service called BarkBox, is really impressive. And being an office tenant in the Gravity 1.0 building is a great bonus. The Netjets and Lululemon news ain't bad either.
October 5, 20213 yr More exciting news on the financial jobs front, this one benefiting the CBD. Downtown office building lands San Francisco bitcoin firm “San Francisco-based River Financial is taking 13,600 feet in 80 on the Commons, filling the last available space in one of the most recent additions to downtown Columbus. The bitcoin firm selected the mixed-use property to house its operations hub and about 30 new employees. It joins Coastal Ridge Real Estate (also the building's owner and manager), BBI Logistics and Root Insurance in the building. The Ohio Tax Credit Authority in August approved a seven-year, 1.5% tax credit toward opening the office and creating 30 jobs over the next two and a half years. The credit would be worth a combined $235,000 over the life of the deal if River creates all the jobs and meets other terms, including staying in Columbus at least 10 years.“ I thought it was interesting they noted in the article that River Financial will be taking the last available spot in 80 on the Commons. This comes as we’ll likely be hearing news in the coming months as the city works to redevelop the former Greyhound site directly across the street from the Commons. https://www.bizjournals.com/columbus/news/2021/10/05/80-on-commons-river-financial.html Edited October 5, 20213 yr by amped91
October 7, 20213 yr Sarepta opens Columbus R&D center On the same day Sarepta Therapeutics Inc. welcomed politicians and patients to the grand opening of its Columbus research hub, the company started the final clinical trial before seeking approval of a potential treatment for a fatal form of muscular dystrophy. The therapy is one of several invented or co-invented at Nationwide Children's Hospital by Louise Rodino-Klapac, who today is Sarepta’s Columbus-based executive vice president and chief scientific officer. The hospital also led Sarepta's preparatory clinical trials. Since hiring her and licensing the technologies, the Boston-area company has concentrated its main research and development operation in Columbus – culminating in the new Genetic Therapies Center of Excellence at Easton. Researchers and equipment are being moved into the 85,000-square-foot lab building at 4201 Easton Commons. Eventually it could expand to adjoining buildings totaling 150,000 square feet. Now at 70 Central Ohio employees and expecting to double by the end of 2022, the company is keeping its lease for now on the Dublin office it opened two years ago. MORE: https://www.bizjournals.com/columbus/news/2021/10/06/sarepta-opens-columbus-r-d-center-gene-therapy.html
October 14, 20213 yr A couple of Ohio State related business-type news items: -- Ohio State president calls on Columbus businesses to hire more student interns, fuel city's growth -- Ohio State to hire 350 more faculty members over the next decade
October 14, 20213 yr Columbus esports venture raises $6M from investors including NFL star Odell Beckham Jr. A Columbus esports venture that bills itself as “LinkedIn for gamers” has raised $6 million in new funding and welcomed 500,000 new users to its platform. The company, eFuse, will use the new capital – which is from a group of esports and gaming influencers and professional athletes including Cleveland Browns wide receiver Odell Beckham Jr., NBA player Seth Curry and NFL players Denzel Ward, Ezekiel Elliot, and Chase Winovich – to “fuel product development, user acquisition, and make key hires as the startup progresses toward profitability in 2021.” MORE: https://www.bizjournals.com/columbus/news/2021/02/18/efuse-funding-round-esports-venture.html
October 14, 20213 yr How its Columbus office 'keeps the lights on' for fast-growing Klarna As Klarna Bank AB opens sales offices in New York, San Francisco and Los Angeles, its U.S. headquarters in Columbus remains the heart of “the operational infrastructure that keeps the lights on” for the buy-now-pay-later giant, said the U.S. chief. Columbus fuels the growth in Klarna's fast-growing national market, said David Sykes, an Australian who joined the Swedish company as top U.S. executive in December 2019. Just over half of Klarna's 310 employees in the country are in Columbus. ... The Columbus office that houses core finance, engineering and product design functions is growing rapidly – and soon will move to larger space in the Short North. The financial technology firm doubled its number of U.S. users to 15 million last year, five years after establishing the Columbus office. New users are joining at a clip of 1 million per month, and the company released its first Super Bowl ad. MORE: https://www.bizjournals.com/columbus/news/2021/02/21/klarna-growing-in-columbus-as-us-business-soars.html
October 21, 20213 yr Seamless.ai founder's goal: $100M sales and IPO in two years After tripling its staff in a year – and already nearing the job creation goal in a state incentive from July – Seamless.ai is growing so fast it could add hundreds more remote jobs around the country this year. And founder and CEO Brandon Bornancin wants to take the software startup public within two years. The automated sales lead platform, started in Columbus in 2015, had revenue between $20 million and $100 million in 2020 – in part because its sales staff use their own product to find users and convert them from the free product to premium, he said. ... It now has about 150,000 users of the free browser extension and tens of thousands of paid subscriptions with more features. Seamless is hiring so fast Bornancin can barely keep track on any given day. The company is at about 175 employees as of last week, about 80 of them in Central Ohio. To hit his goal of $100 million sales, he said, it would need 750 employees, including salespeople, engineers and customer support. MORE: https://www.bizjournals.com/columbus/news/2021/02/23/seamless-ai-startup-aims-for-ipo-by-2023.html
October 21, 20213 yr Fast-growing mobile medical startup SmileMD moves HQ to Columbus from Dublin Fast-growing SmileMD, which takes operating rooms on the road, has settled into a new Columbus home. The startup has leased an office in far north Columbus after outgrowing its space in Dublin, with room to grow for three to four years, CEO Saket Agrawal said. SmileMD started the hunt after closing a $5 million Series A venture capital round last month. SmileMD, the DBA of Offor Health Inc., is taking 10,000 square feet of the former corporate offices of Cloudbreak Health at 1103 Schrock Road. About 20 employees will move in, and that could double by year's end. The company grew by more than two-thirds in the second half of 2020. Besides the office staff, the company has a network of more than 100 doctors and support staff who bring mobile anesthesia and other equipment to dental practices so they can do outpatient surgery without waiting weeks or months for hospital or surgery center time. MORE: https://www.bizjournals.com/columbus/news/2021/02/26/fast-growing-smilemd-leases-north-columbus-office.html
October 21, 20213 yr Pandemic drew out 'resiliency and adaptability' for Beam Dental staff, clients Columbus' Beam Dental was one of many venture-backed technology companies that, when the coronavirus pandemic struck, found an unexpected advantage to building an entire business in the cloud from the start. Just a few months after opening a larger office in a historic warehouse district building north of downtown, the digital insurer, like other office-based companies, sent everyone home overnight. What emerged is a stronger company, co-founder and CEO Alex Frommeyer said. ( . . . ) Beam Technologies Inc. has grown to 250 employees, five times its size since spring 2019, when it was awarded a state tax credit. Not all of the jobs count toward the state deal, for which it pledged to grow to near 190 Ohio jobs by the end of 2022. As with many tech companies, the pandemic unlocked a shift to a blend of hiring both in Central Ohio and remotely out-of-state. Upon raising an $80 million round this week led by Utah-based Mercato Partners, Beam has the runway to expand product lines and grow into an even larger employer. ... Beam provides all-digital dental benefits, with pricing in part determined by dental hygiene habits as measured by its smart toothbrush, to businesses in 41 states. MORE: https://www.bizjournals.com/columbus/news/2021/03/03/how-beam-dental-adapted-to-pandemic.html
November 1, 20213 yr Inc. 5000: These Central Ohio companies are among the fastest growing in the Midwest Fifteen Central Ohio businesses have been ranked by Inc. as among the fastest-growing companies in the Midwest. Inc. released its Inc. 5000 Regionals: Midwest 2021 list for the second year, ranking 250 of the fastest-growing companies in a 12-state territory that includes Ohio, Indiana, Illinois, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wisconsin. The list considered revenue growth between 2017 and 2019: No. 12, Dash Technologies with 775% growth. The contract software company is located in Columbus. No. 42, Earthley Wellness with 274% growth. The manufacturer is located in Columbus. No. 60, Central Point Partners with 221% growth. The business products and services company is located in Westerville. No. 77, AdaptaLogix with 183% growth. The business products and services company is located in Dublin. No. 84, Proforma Strategic Promotions with 164% growth. The advertising and marketing company is located in Westerville. No. 95, Kay-Twelve with 146% growth. The education company is located in Columbus. No. 133, Fab Glass and Mirror with 102% growth. The manufacturer is located in Westerville. No. 144, Ease Logistics Services with 95% growth. The logistics and transportation company is located in Dublin. No. 145, Studio 8E8 with 95% growth. The advertising and marketing company is located in New Albany. No. 166, Steward Construction Services with 86% growth. The construction firm is located in Columbus. No. 175, Express Wash Concepts with 82% growth. The consumer products and services firm is located in Etna. No. 179, Updox with 76% growth. The software firm is located in Dublin. No, 184, Infoverity with 74% growth. The business products and services company is located in Dublin. No. 187, ForeFront Web with 73% growth. The advertising and marketing firm is located in Dublin. No. 213, Environmental Remediation Contractor with 61% growth. The environmental services company is located in Groveport. MORE: https://www.bizjournals.com/columbus/news/2021/03/17/inc-5000-central-ohio.html
November 3, 20213 yr Another Silicon Valley fintech opens HQ2 in Columbus, led by Root veteran Another Silicon Valley fintech startup has opened a second headquarters in Columbus, to be led by the former engineer lead at Root Inc. Huckleberry Insurance Services LLC has a "handful" of its 40 employees working remotely now in Columbus, said Bill Kaper, hired from the digital auto insurer as CTO to lead the new office. The commercial insurance platform for small businesses also is moving its main headquarters to New York City. ... Both cities are insurance industry hubs, Kaper said. "We think this next stage of growth will be better served on the East Coast. The talent pool in Columbus is really what attracted Huckleberry here. ... It's a burgeoning talent pool." Huckleberry expects to grow to 100 employees between New York and Columbus by early next year. Kaper said he still is scouting downtown locations for a home base that will open when indoor gathering is safe again. MORE: https://www.bizjournals.com/columbus/news/2021/03/23/silicon-valley-fintech-huckleberry-columbus-hq2.html
November 3, 20213 yr Fast-growing logistics buys second, larger headquarters in Dublin Ease Logistics has acquired a 20,000-square-foot office and warehouse on Avery Road in Dublin for its new headquarters as it expects to nearly double its workforce to 129 employees and stretch to $185 million in revenue over the next six years. The firm – a four-time Columbus Business First Fast 50 honoree as well as an Inc. 5000 member – provides shipment management and consulting services for customers that include Honda Motor Co., T. Marzetti Co. and Wendy's. MORE: https://www.bizjournals.com/columbus/news/2021/03/23/fast-50-winer-plans-bigger-hq-in-dublin.html
November 3, 20213 yr Manufacturer ITC planning $14.2M expansion of Columbus plant A shelf and decking manufacturer is in line for city and state incentives for a $14.2 million expansion project. Phoenix-based International Technical Coatings plans to expand its facility at 845 E. Markison Avenue on the city's south side including adding 67 new jobs. Columbus City Council will consider a five-year Jobs Growth Initiative with an estimated value of up to $110,143 over its life. The Columbus incentive, as recommended by the Department of Development, would be a 25% break on Columbus income tax withheld on the payroll of the new employees, and 30% for those new employees who also are Columbus residents. MORE: https://www.bizjournals.com/columbus/news/2021/03/26/manufacturer-in-line-for-incentives-for-142-mill.html _______________________________________________________________________ South Columbus manufacturer gets $255,000 incentive from Ohio A Columbus manufacturer is getting a state tax incentive valued at as much as $255,000. The Ohio Tax Credit Authority approved a seven-year, 1.269% credit for International Technical Coatings, an Arizona-based maker of shelving and other wire mesh products that plans to expand its South Columbus operation. The company opened its facility in 2010 at 845 E. Markison Avenue. An expansion project is expected to create 67 new jobs and an additional $3.06 million in payroll at that site. MORE: https://www.bizjournals.com/columbus/news/2021/03/29/south-columbus-manufactuer-gets-255-000-incentive.html
November 5, 20213 yr On 6/30/2021 at 3:10 PM, Columbo said: Amgen to build $365M pharmaceutical plant in New Albany, creating 400 jobs Biotechnology giant Amgen Inc. plans to build a $365 million pharmaceutical manufacturing and packaging facility in New Albany, creating 400 jobs over the next six years. Construction is expected to begin this fall on the 270,000-square-foot facility in the city's International Business Park in Licking County. "The vibrant business environment, access to a growing talent pool, favorable operating costs and central location from a logistics perspective were all important reasons behind our decision to locate here," Amgen Senior Vice President of Manufacturing Arleen Paulino said in a news release. This is Amgen's first expansion to Ohio. About 14,000 of 25,000 global employees are in U.S. operations in California, Florida, Kentucky, Massachusetts, Puerto Rico and Rhode Island. Other Midwestern states were competing for this expansion, according to the state Development Services Agency. High-paying jobs for a total annual payroll of $41 million include engineers, technicians and quality assurance testers. ... The Ohio State University committed to develop an internship and other experiential education programs as part of the attraction effort. New Albany Co., the city, the state Development Services Agency, AEP Ohio and economic development organizations JobsOhio and One Columbus collaborated on the deal. MORE: https://www.bizjournals.com/columbus/news/2021/06/28/amgen-to-build-365m-pharma-plant-new-albany.html ^ Amgen breaking ground on this plant today: Amgen breaks ground on $365 million New Albany plant The California-based biotech firm Amgen plans to break ground Friday on a $365-million packaging plant in New Albany. For the firm's CEO, Bob Bradway, the move represents a homecoming. Although he is now based in Southern California, Bradway grew up in Upper Arlington and graduated from Columbus Academy in 1981. "I get to town any chance I get," said Bradway, 58. "Like anybody who grew up in Columbus, I'm a Buckeye through and through." Bradway will be on hand for the ceremonial start to Amgen's New Albany plant, near Route 161 and Beech Road, the first Ohio facility for the $26-billion-a-year medical company. When it opens in 2024, the 270,000-square-foot facility, which will be called Amgen Ohio, is expected to employ more than 400 workers packaging and assembling Amgen medicine. MORE: https://www.dispatch.com/story/business/2021/11/05/amgen-breaks-ground-365-million-medical-packaging-plant/6197093001/
November 9, 20213 yr Another tenant announced for the Peninsula office building: Deloitte moving to Daimler office building at The Peninsula “Deloitte plans to move from its downtown office into a new building under construction in the mixed-use project now taking shape on the Scioto Peninsula, the accounting giant confirmed in a statement. The firm plans to leave its current office at 180 E. Broad St. in the spring. Deloitte has 410 employees in Columbus, according to Columbus Business First research. It currently leases 35,000 square feet in the 34-story Continental Plaza, located at 180 E. Broad St., according to CoStar. The firm did not disclose how much square footage it is taking in the new building or how many employees would be making the move. With Deloitte's announcement, the office building is now 31% pre-leased, Daimler CEO Bob White Jr.told Columbus Business First.“ https://www.bizjournals.com/columbus/news/2021/11/09/deloitte-moving-to-scioto-peninsula.html
November 11, 20213 yr On 11/5/2021 at 9:56 AM, Columbo said: Amgen breaking ground on this plant today: Amgen breaks ground on $365 million New Albany plant The California-based biotech firm Amgen plans to break ground Friday on a $365-million packaging plant in New Albany. For the firm's CEO, Bob Bradway, the move represents a homecoming. Although he is now based in Southern California, Bradway grew up in Upper Arlington and graduated from Columbus Academy in 1981. "I get to town any chance I get," said Bradway, 58. "Like anybody who grew up in Columbus, I'm a Buckeye through and through." Bradway will be on hand for the ceremonial start to Amgen's New Albany plant, near Route 161 and Beech Road, the first Ohio facility for the $26-billion-a-year medical company. When it opens in 2024, the 270,000-square-foot facility, which will be called Amgen Ohio, is expected to employ more than 400 workers packaging and assembling Amgen medicine. MORE: https://www.dispatch.com/story/business/2021/11/05/amgen-breaks-ground-365-million-medical-packaging-plant/6197093001/ Follow-up story to the Amgen ground breaking from Business First about the potential for additional investments in Central Ohio by the company: Amgen's New Albany drug packaging plant could be just the beginning The 277,000-square-foot biotech manufacturing plant that just started construction in a New Albany farm field could be the seed for Amgen to grow more facilities and corporate functions in Central Ohio, CEO Bob Bradway told Columbus Business First. The Los Angeles company has plenty of room – 177 acres – to expand once its $365 million the high-tech pharmaceutical assembly and packaging plant comes online in 2024. Extra land gives the $25 billion corporation flexibility as it plans for the future, Bradway said following Friday's groundbreaking. Future expansion depends on the success of this first project, particularly the company's hunt for talent. "This will be a 30- or 40-year investment for us," Bradway said. "We're excited to do more. Not all communities … have been as supportive as this one." MORE: https://www.bizjournals.com/columbus/news/2021/11/08/amgen-ceo-new-albany-biotech-plant-could-expand.html
November 12, 20213 yr ‘Columbus Promise’ program to grant free Columbus State tuition to Columbus City Schools graduates Columbus City Schools graduates for at least the next three years will be able to attend Columbus State Community College tuition-free through a new Columbus Promise program announced Wednesday by city officials. The three-year pilot program, estimated to cost $9.5 million, is aimed at addressing the community’s skilled workforce shortage, while making sure that college is accessible to a diverse set of Columbus students. “We promise that we have their backs and our students and their families won’t face the peril of student-loan debt if they get a certificate or associate’s degree at Columbus State,” said City Council President Shannon Hardin. The program, which will initially operate as a three-year pilot program, is designed to be open to all Columbus City Schools graduates with at least a 2.0 GPA. Students have to apply for the Federal Student Aid program, and the Columbus Promise program will cover whatever Pell Grants and state aid don’t cover. MORE: https://www.bizjournals.com/columbus/news/2021/11/10/columbus-promise-tuition-columbus-city-schools.html
November 15, 20213 yr On 10/4/2021 at 2:49 PM, amped91 said: And follow that up with the remainder of the companies promising jobs based on tax credits, totaling more than 1300 jobs in the area. Bark will be adding 500 jobs to Central Ohio as well. As a side note, they had occupied the fourth and fifth floors of the Gravity office building. At some point during the pandemic, they expanded onto the third floor as well. Makes me wonder if they’ll eventually just take over the entire building. Also adding jobs in Central Ohio are NetJets with 154, Lululemon with 150 and, and Vargo with 24. Those are in addition to greater than 1000 other new jobs promised throughout Ohio. Growing again in Columbus: Upstart, Original Bark Co. to add 500 jobs apiece https://www.dispatch.com/story/business/2021/10/04/original-bank-co-and-upstart-expanding-again-columbus/5987993001/ Some of the above tax incentives are before City Council today, in addition to a couple others I don’t believe have been posted here yet: - SK Food: The company will invest $18 million to renovate and equip the 144,000-square-foot warehouse at 2955-3035 Charter St., creating 305 new jobs with annual payroll of $12.4 million. The five-year incentive of 30%, or 30% for in-Columbus hires, would save the company $465,000 to $542,000 if it creates all the pledged jobs, depending on the mix of employee residency, and net the city more than $1 million in new income tax. - Hollingsworth Logistics Group LLC: The Detroit-area third-party trucking and logistics group will invest $850,000 on additional equipment for its warehouse at 2450 Spiegel Dr. near Rickenbacker International Airport, adding 95 new jobs to a staff of 16 for a total annual payroll of $4 million. The five-year 25% or 30% incentive would save the company $103,000 to $124,000 and net the city $289,000 to $310,000. More details are available from CBF: https://www.bizjournals.com/columbus/news/2021/11/15/barkbox-netjets-sk-food-logistics-job-incentives.html
November 19, 20213 yr On 11/15/2021 at 1:49 PM, amped91 said: Some of the above tax incentives are before City Council today, in addition to a couple others I don’t believe have been posted here yet: - SK Food: The company will invest $18 million to renovate and equip the 144,000-square-foot warehouse at 2955-3035 Charter St., creating 305 new jobs with annual payroll of $12.4 million. The five-year incentive of 30%, or 30% for in-Columbus hires, would save the company $465,000 to $542,000 if it creates all the pledged jobs, depending on the mix of employee residency, and net the city more than $1 million in new income tax. - Hollingsworth Logistics Group LLC: The Detroit-area third-party trucking and logistics group will invest $850,000 on additional equipment for its warehouse at 2450 Spiegel Dr. near Rickenbacker International Airport, adding 95 new jobs to a staff of 16 for a total annual payroll of $4 million. The five-year 25% or 30% incentive would save the company $103,000 to $124,000 and net the city $289,000 to $310,000. More details are available from CBF: https://www.bizjournals.com/columbus/news/2021/11/15/barkbox-netjets-sk-food-logistics-job-incentives.html A little more about that SK Food Group expansion from Business First: How Columbus won a second facility from Seattle-based SK Food Group Columbus beat out cities like Phoenix, Arizona, and Reno, Nevada, for a manufacturing facility for a sandwich and wrap-making company, which city leaders say is no surprise given what the region offers. SK Food Group plans to lease a 144,000-square-foot facility at 2955-3035 Charter Street in Columbus, in addition to retaining its existing manufacturing plant in Groveport. The Groveport location has about 600 employees with $25 million worth of payroll. Columbus leaders say the city is able to beat out other places when it comes to attracting jobs because of the public-private partnerships the city has, the city's location, the existing talent and the talent pipeline. And incentives don't hurt. Columbus City Council approved on Monday a five-year incentive of 30%, or 30% for in-Columbus hires, for SK Food Group. The incentive will save the company $465,000 to $542,000 if it creates all 305 pledged jobs, depending on the mix of employee residency. MORE: https://www.bizjournals.com/columbus/news/2021/11/18/how-columbus-wins-competitive-projects.html
November 19, 20213 yr And some more clearing out of the older saved articles vault: App developer and digital agency adding 50 jobs in Columbus more than a year after acquisition A digital agency and app developer is expanding its Columbus office by 50% just over a year since acquiring its former competitor. WillowTree LLC plans to start hiring 50 software engineers, designers and product managers in the second half of the year, economic development organization One Columbus said. The Charlottesville, Virginia, company acquired the former Dynamit in the Arena District in November 2019. The office at 274 Marconi Blvd. has 108 full-time employees today, which is down slightly from 125 at the time of the merger. MORE: https://www.bizjournals.com/columbus/news/2021/03/29/willowtree-former-dynamit-adding-50-jobs-columbus.html
November 19, 20213 yr Fast-growing Texas insurance agency opening national sales office in Easton, creating 100 jobs A fast-growing, publicly traded Texas insurance agency is opening a national sales office in Columbus with plans to create 100 jobs within five years. Goosehead Insurance Agency Inc. expects to start hiring this summer for the office at 4131 Worth Ave. in Easton, according to One Columbus and the city Department of Development. ... Goosehead uses proprietary technology to help consumers shop for home, auto, flood and other personal property insurance from more than 140 carriers. MORE: https://www.bizjournals.com/columbus/news/2021/03/29/texas-goosehead-insurance-agency-expand-columbus.html
November 19, 20213 yr Three logistics companies commit to 400 new jobs in Central Ohio Three retail logistics operations are expanding in Columbus, promising to create 400 new jobs. The Ohio Tax Credit Authority on Monday approved tax incentives for each in exchange for new jobs to be created in the next three years. The firms are: Furniture and appliance retailer American Freight, which will expand its Delaware headquarters, creating 37 new jobs in marketing, executive, accounting, legal and IT jobs. In addition to $3.7 million in new payroll, it will retain 62 jobs and $6.2 million in payroll. It received a 1.822%, 8-year tax credit valued at $495,000 if it creates the jobs promised and maintains its operations 11 years under the deal. Retailer HomeGoods Inc., which will build a new distribution facility in Obetz with 250 employees and $9 million in payroll. It received a 1.363%, eight-year tax credit valued at $1 million in exchange for maintaining the local operation at least 11 years. E-commerce, shipping and fulfillment company Pitney Bowes Global Logistics LLC, which will open a distribution center in Canal Winchester and create 115 jobs and $4.26 million in payroll. It received an 1.477%, seven-year tax credit worth $425,000 as long as it retains its jobs for 10 years. MORE: https://www.bizjournals.com/columbus/news/2021/04/26/three-logistics-companies-commit-to-400-new-jobs.html
November 22, 20213 yr Still clearing out the older saved articles vault: Amazon is adding three more delivery stations in Columbus to help speed deliveries to customers. The new delivery stations join eight existing Amazon operations sites in the Columbus area: https://www.dispatch.com/story/business/2021/04/05/amazon-create-hundreds-jobs-columbus/7090455002/ Kohl's is hiring more than 400 workers to staff its new 1.2 million-square-foot e-commerce distribution center in Etna: https://www.dispatch.com/story/business/2021/04/09/kohls-and-other-companies-looking-hire-hundreds-central-ohio/7156300002/
November 22, 20213 yr CoverMyMeds brand grows as owner McKesson unites four health IT units CoverMyMeds just grew even bigger: Parent McKesson Corp. has merged its four prescription software divisions under the Columbus unit's brand. The healthcare distribution giant had prepared for the move in the fall by reorganizing the four subsidiaries into a segment called Prescription Technology Solutions, or RxTS. That umbrella is now CoverMyMeds, operating as a single unit and poised for growth, the company said. The new combined CoverMyMeds has more than 5,000 employees, including 1,500 in the formerly standalone CoverMyMeds. Together, the four divisions had $395 million operating profit on $2.89 billion revenue in the year ended March 31. MORE: https://www.bizjournals.com/columbus/news/2021/05/26/mckesson-merges-health-it-units-led-by-covermymeds.html
November 22, 20213 yr Central Ohio's third startup bank in 2 years opens in Worthington led by industry veterans Instead of putting his feet up for the holiday weekend, John Smiley can't wait to roll up his sleeves and dig into "real banking." First Bank of Central Ohio, the industry veteran's latest startup, already has made $7.5 million in loans since opening last month in Worthington, said Smiley, founder and CEO. Conceived early in the coronavirus pandemic and launched one year later, the rare de novo bank raised $28 million in just eight weeks – demonstrating a regional hunger for locally owned financial services that focus on small business, he said. ... This is the third community bank to open in the region in two years, following a 12-year lull in new charters. Riverside Bank of Dublin opened in March and Ohio State Bank in April 2019 in Bexley. MORE: https://www.bizjournals.com/columbus/news/2021/05/27/first-bank-of-central-ohio-opens-in-worthington.html
November 22, 20213 yr Upstart's Columbus 'HQ2' is now bigger than its Silicon Valley office The Columbus HQ2 of newly public Upstart Holdings Inc. is now larger than its Silicon Valley office, and it's still hiring. At some point in recent weeks, Columbus surpassed the San Mateo home – both are about 450 employees – and is growing faster on a path to 500 jobs, said Grant Schneider, data scientist who leads the second headquarters. ... The company had projected Columbus would be larger – it's just happening faster. Upstart has leased the three floors below its original 15,000 square feet in 711 N. High St., for a total of 55,000 square feet. The floors were formerly occupied by the Spaces coworking chain. MORE: https://www.bizjournals.com/columbus/news/2021/05/28/upstart-columbus-office-passes-siliconn-valley.html
November 30, 20213 yr https://www.bizjournals.com/columbus/news/2021/06/04/zoco-design-turns-the-old-brazenhead-into-its-new.html Design agency ZoCo Design turned the former Brazenhead tavern (which closed last fall after 21 years of business) at 1027 W. 5th Avenue in Columbus near Grandview Heights into its new home. This new 9,000 square foot space for ZoCo Design replaces their last offices along Grandview Avenue which were 2,500 square feet.
November 30, 20213 yr Here's why Drive Capital and Huntington are investing in Rev1 Ventures Huntington National Bank and venture capital firm Drive Capital LLC have vastly different approaches to investing, but the same reasons to become first-time limited partners in the latest Rev1 Ventures fund. Fostering the next generation of technology startups is good for Central Ohio – which is good for business, leaders of both said. "The better Columbus does, the healthier we are as a hometown bank," said Steve Steinour, CEO of Huntington Bancshares Inc. The Columbus firms were joined by U.S. Bank and the University of Dayton as first-time investors in Rev1's $20 million Fund II launched this week for investing in early-stage technology startups. The all-private fund has no money this time from the state-backed Ohio Third Frontier, which allows for a more flexible strategy. With more than $1 billion under management, Drive Capital is the largest active venture capital firm in the Midwest. Investing in a seed-stage fund like Rev1 is a vote of confidence in the pipeline from the Columbus entrepreneurial development organization. MORE: https://www.bizjournals.com/columbus/news/2021/06/10/why-drive-capital-huntington-invest-in-rev1.html
December 8, 20213 yr Industrial warehouse construction for e-commerce and the logistics industry continue to be hot hot hot in Central Ohio: -- Columbus remains one of the most active industrial real estate markets nationwide -- Columbus industrial market named one of three to watch nationwide in new JLL report
December 8, 20213 yr ^ And to back that up, a report about one of the biggest warehouses to break ground this year in Central Ohio. The Pizzuti Companies are building a 1.09-million-square-foot speculative warehouse development at the West Jefferson Logistics Center industrial park west of Columbus in Madison County: https://www.bizjournals.com/columbus/news/2021/07/15/pizzuti-breaks-ground-109-million-speculative.html
December 20, 20213 yr On 12/8/2021 at 10:48 AM, Columbo said: Industrial warehouse construction for e-commerce and the logistics industry continue to be hot hot hot in Central Ohio: -- Columbus remains one of the most active industrial real estate markets nationwide -- Columbus industrial market named one of three to watch nationwide in new JLL report ^ Despite warehouses being built in Central Ohio at a record pace, it seems that every new warehouse project gets filled as soon as it opens. So much so that despite all the additional square footage flooding the market, the industrial vacancy rate for warehouses has just hit another record low of 2.1%(!) Industrial vacancy rate falls to another all-time low in Central Ohio After three consecutive quarters of setting records, industrial vacancy rates in Central Ohio hit another all-time low in the last quarter of 2021. And it shows no signs of slowing down. Dan Wendorf, senior managing director at JLL Columbus, said the area's vacancy rate hit 2.1%, the lowest it has ever been. This is down from Q3's 3.1%. "Securing space has gotten exponentially more difficult," Wendorf said. He and others said the vacancy rate reflects the area's economic health and its strategic place in distribution circles. “Columbus is right square on the national map right now,” said Jeff Lyons, executive vice president at CBRE. “This market is going to grow over the next five years, maybe more so than any other market in the Midwest.” During the pandemic, consumers rethought their purchasing habits, Lyons said, resulting in a surge in e-commerce, which boosted the need for distribution facilities. MORE: https://www.bizjournals.com/columbus/news/2021/12/16/industrial-vacancy-rate-reaches-record-low-again.html
December 21, 20213 yr I'm having flashbacks to the Banc One sale in the late 90s: Columbus-based Hexion to be acquired by New York private equity firm Jim Weiker The Columbus Dispatch The Columbus-based chemical company Hexion Holdings has agreed to be acquired by the New York private equity firm American Securities. American Securities will pay $30 a share for Hexion. The company did not say how many shares were outstanding, or the total value of the deal. https://www.dispatch.com/story/business/2021/12/21/columbus-company-hexion-acquired-new-york-firm/8973914002/ It remains to be seen what will happen to the local workforce and office space, but it doesn't sound all too promising. From the article: Hexion said the spinoff and sale would impact Columbus employees, but did not provide details. "As part of the sale of our epoxy business to Westlake, we would expect some associates to be part of the transaction. Hexion Holdings expects to remain a large Columbus-based employer," a company spokesperson said in an email.
December 21, 20213 yr 2 hours ago, CMHOhio said: I'm having flashbacks to the Banc One sale in the late 90s: Columbus-based Hexion to be acquired by New York private equity firm Jim Weiker The Columbus Dispatch The Columbus-based chemical company Hexion Holdings has agreed to be acquired by the New York private equity firm American Securities. American Securities will pay $30 a share for Hexion. The company did not say how many shares were outstanding, or the total value of the deal. https://www.dispatch.com/story/business/2021/12/21/columbus-company-hexion-acquired-new-york-firm/8973914002/ It remains to be seen what will happen to the local workforce and office space, but it doesn't sound all too promising. From the article: Hexion said the spinoff and sale would impact Columbus employees, but did not provide details. "As part of the sale of our epoxy business to Westlake, we would expect some associates to be part of the transaction. Hexion Holdings expects to remain a large Columbus-based employer," a company spokesperson said in an email. We'll see what happens next year, but it wouldn't be surprising if Hexion moved its HQ from Columbus. According to the article, Hexion, which traces its roots to the former Borden Chemical Co., employs 325 workers at its Downtown office (formerly the Borden Building) and is its only Ohio operation. But you never know. The Bank One sale you referenced lost Columbus the HQ office - but also gained a ton of new employees at the McCoy Center in Polaris.
December 22, 20213 yr https://www.bizjournals.com/columbus/news/2021/12/21/hexion-holdings-to-be-acquired-by-private-equity-f.html A little more about the Hexion acquisition from Business First. This was the only bit about the existing HQ from the article: "Hexion said it expects to remain a large Columbus employer, but did say it expects some employees with the epoxy business to move to Westlake Chemical."
December 23, 20213 yr Still clearing out some older saved articles. This one is a Business First analysis of recent Columbus City Council job creation incentive deals from July 2021: https://www.bizjournals.com/columbus/news/2021/07/26/columbus-employer-tax-incentive-performance-2021.html The deals approved by City Council are based on job creation performance under two separate incentive programs, one for downtown offices and another for everywhere else in the city. Companies are paid based on the net new jobs they create, not those retained from before the deal. Payments equal a percentage of the new jobs income tax withholding, 50% for downtown jobs and 25% to 35% for projects elsewhere. Job creation numbers reported are those created to the end of 2020. Downtown Incentives: City-wide Incentives:
December 23, 20213 yr Another July 2021 article from Business First - this one is about a report from the City Auditor about city tax revenue: City of Columbus revenue higher than expected despite pandemic The city of Columbus is performing better than expected when it comes to finances despite the coronavirus pandemic, according to a new estimate from the city auditor. The city’s 2021 official revenue estimate is now $63 million higher than expected, bringing the total amount of available resources to slightly more than $1 billion. This is the first time in the city’s history its resources have reached that threshold. The increase is driven primarily by higher-than-expected income tax revenue. Auditor Megan Kilgore said in a letter to Mayor Andrew Ginther and other city officials that personal income “soared” by nearly 15% in the first quarter of 2021 due to federal stimulus payments. Kilgore said the city’s financial position and local economy “greatly benefited” from federal stimulus programs related to Covid-19. ... In addition, higher unemployment rates during the pandemic were concentrated among low-income workers. High-income workers were “largely unaffected,” according to her letter. “Looking ahead to 2022, we anticipate that the pace of expansion will normalize, but the local economy will remain strong,” Kilgore said. “The outsized income tax growth percentages are, in part, a function of the unique nature of this stimulus-driven recovery period. As post-pandemic normalization runs its course, the broad income tax growth rate should normalize as well.” MORE: https://www.bizjournals.com/columbus/news/2021/07/26/columbus-revenue-higher-despite-pandemic.html
January 5, 20223 yr FlightSafety International, a pilot training company and maker of flight simulators is making Columbus its headquarters. The company is part of the Berkshire Hathaway portfolio of companies alongside Columbus-based NetJets. FlightSafety International already employs 174 people at its local operation. With the announced expansion, the company plans to add 113 employees in administrative, finance, human resources, legal, sales and marketing as it turns Columbus into its home base. https://www.bizjournals.com/columbus/news/2021/07/27/flightsafety-moving-headquarters-to-columbus.html https://www.dispatch.com/story/business/2021/07/26/flightsafety-expansion-add-113-jobs-columbus/8091543002/
January 5, 20223 yr Columbus cybersecurity startup raises $30M A Columbus cybersecurity startup that looks for hackers' backdoors into internet of things devices has raised $30 million in venture capital from investors including a top customer. Finite State Inc. has now raised a cumulative $49.5 million since Battelle veteran Matt Wyckhouse founded it. ... The company is using the funding toward quickly expanding its presence in the IoT market, which is projected to top $1.4 trillion in the next six years. It is hiring in engineering, security expertise and sales and marketing. https://www.bizjournals.com/columbus/news/2021/08/02/finite-state-iot-cybersecurity-startup-raises-30m.html
January 12, 20223 yr Marysville-based Scotts Miracle-Gro Co. continues to ride supplying the cannabis industry to record sales, revenue and profits: -- New gardeners and new cannabis states drive 32% Q2 sales increase for Scotts Miracle-Gro -- Scotts Miracle-Gro acquires water filtration supplier for cannabis industry -- Scotts Miracle-Gro to invest in cannabis industry through Canadian firm
January 14, 20223 yr Seems all but confirmed that New Albany will get one of the world's very, very few semiconductor fabs. This is enormous news for the Columbus area, and has the potential to really propel the area forward. https://www.cleveland.com/news/2022/01/intell-planning-to-build-massive-new-semiconductor-factory-in-ohio.html
January 14, 20223 yr 54 minutes ago, jonoh81 said: Seems all but confirmed that New Albany will get one of the world's very, very few semiconductor fabs. This is enormous news for the Columbus area, and has the potential to really propel the area forward. https://www.cleveland.com/news/2022/01/intell-planning-to-build-massive-new-semiconductor-factory-in-ohio.html According to a few reports, it is confirmed! "Jersey Township trustee Ben Pieper confirmed to NBC4 Thursday afternoon that a nearly 3,200-acre area northeast of Columbus in Licking County will become a massive computer chip factory." https://www.nbc4i.com/news/local-news/new-albany/massive-computer-chip-factory-coming-to-new-albany-township-trustee-confirms/
January 14, 20223 yr A separate thread has been created for this semiconductor plant project: https://forum.urbanohio.com/topic/17401-new-albany-intel-semiconductor-factory-related-development For those who haven't been following this news in the general New Albany thread, I posted this a couple months ago. It was a follow-up article about the groundbreaking of the $365 million Amgen pharmaceutical plant. In it, officials hinted that there were going to be even bigger projects in the future. This semiconductor plant location is part of a newer eastward expansion of New Albany's burgeoning business park, which now extends into Licking County. This business park expansion is where the Amgen plant is being built, and where data centers for Amazon, Google and Facebook are locating. On 11/13/2021 at 2:02 PM, Columbo said: New Albany development has been known for its Georgian residential architecture and its white three-board horse fencing. It has since broadened out into the more urban architecture with its village center development. But one thing not associated with New Albany has been big business-type development. That probably should change. https://www.bizjournals.com/columbus/news/2021/11/08/amgen-ceo-new-albany-biotech-plant-could-expand.html In the above linked article about the $365 million Amgen plant breaking ground was this paragraph: "Landing giants such as Amgen up the road from data farms for Facebook, Google and Amazon, and in sight of an Amazon fulfillment center, validates the city's strategy to expand dramatically into Licking County over the last decade, New Albany Mayor Sloan Spalding said. To date the industrial park has attracted $6 billion in capital development, 14 million square feet of facilities and 16,000 jobs. "This small business park is no longer a well-kept secret," Spalding said in an interview." The website for the New Albany Company, who controls much of the development in New Albany, shows the extent of their business park developments: https://newalbanycompany.com/business/new-albany-business-park/ From left to right on the above map is the following: Hamilton Quarter, located in Columbus but on land controlled by the New Albany Company, which has the Big Lots corporate HQ offices. An older business park located north of the New Albany village center which includes offices for AEP, Aetna, Discover and Nationwide. And a newer eastward expansion of the business park which now extends into Licking County. This newer business park is where the Amgen plant is being built, along with data centers for Amazon, Google and Facebook. A larger version of the map is available at http://newalbanycompany.com/wp-content/uploads/2018/03/New-Albany-International-Business-Park.pdf Also @Pablo posted this map of the New Albany annexation in Licking County where the semiconductor plant is said to be locating:
January 18, 20223 yr Now that a separate thread has been created for the Intel semiconductor plant project in the Central Ohio projects & construction section (see link below), please confine any future updates and discussion to that thread. Otherwise it would get buried among all the other news items in this General Business thread. https://forum.urbanohio.com/topic/17401-new-albany-intel-semiconductor-factory-related-development For documentary purposes, I might cross-post some milestone Intel semiconductor factory news in this thread - like the official announcement, groundbreaking and completion/opening - but otherwise, look to the projects & construction link above for more up-to-date progress on this project.
January 18, 20223 yr On 3/24/2021 at 11:45 PM, Columbo said: Some news about Alliance Data Systems Corporation - a publicly traded company that provides private label credit card services. Alliance Data was formed from the 1996 merger of J.C. Penney's credit card processing unit and The Limited's credit card bank operation. It was headquartered in Columbus until being acquired by a private equity firm that moved it to Plano, Texas in 2011. In 2019, a new company acquired Alliance and moved the headquarters back to Columbus - into a newly built three-building 550,000 sq. ft. office complex just south of Easton Town Center. By 2020, Alliance Data had 8,500 employees, with 3,500 of those in Central Ohio. When a new CEO was named in 2020, the question of would the HQ move back to Texas or stay in Columbus was asked. In Sept. 2020, the new CEO said the HQ would be staying in Columbus at the Easton location: https://www.bizjournals.com/columbus/news/2020/09/02/alliance-data-ceo-columbus-to-stay-hq.html In November 2020, Alliance Data announced a $450 million acquisition of Bread, a digital buy-now-pay-later payments processor, to add to its e-commerce offerings as retailers shift in response to the coronavirus pandemic. Bread is a NYC-based competitor to Klarna, the Swedish company with its U.S. headquarters located in Columbus: https://www.bizjournals.com/columbus/news/2020/11/03/alliance-data-acquires-klarna-competitor-bread.html In January 2021, Alliance Data gave its 2020 revenue announcement: https://www.bizjournals.com/columbus/news/2021/01/29/alliance-data-profited-in-2020-as-revenue-dropped.html Here's an update about Alliance Data that I thought I had posted last year, but it turns out I didn't. The company is splitting into two separate companies: Alliance Data breaking up: Loyalty programs to be separate company Alliance Data Systems Corp. is breaking its alliance, planning to spin out its loyalty rewards business as a separate publicly traded company by year's end. ... "Our plan to spin off our LoyaltyOne segment is a logical next step in our transformation journey and will position both entities for future growth," CEO Ralph Andretta said in the release. Charles Horn, executive vice president and senior advisor, will become CEO of the spinoff company, which operates programs such as airline miles in Canada and consumer brand loyalty rewards. ... Alliance Data streamlines to the larger business operating branded credit cards for retailers and will keep a 19% non-controlling interest in the LoyaltyOne spinoff, eventually selling the stock to pay down debt. Basics on the two companies: Alliance Data - Card Services segment: $3.8 billion revenue on $24.7 billion in credit card transactions at more than 630 merchants and 6,450 employees with headquarters in Columbus at Easton Town Center. LoyaltyOne segment: $765 million revenue and 1,400 employees operating in 50 countries with main offices in Toronto, the Netherlands, and Plano, Texas. MORE: https://www.bizjournals.com/columbus/news/2021/05/12/alliance-data-breaking-up-loyalty-cards-to-spin-o.html
January 21, 20223 yr Root Insurance laid off 20% of its workforce today. https://www.bizjournals.com/columbus/inno/stories/news/2022/01/20/root-insurance-330-jobs-cut-covid-19.html Very Stable Genius
January 21, 20223 yr 2 minutes ago, DarkandStormy said: Root Insurance laid off 20% of its workforce today. https://www.bizjournals.com/columbus/inno/stories/news/2022/01/20/root-insurance-330-jobs-cut-covid-19.html It has all been up, up, up for Root until this news. Hopefully this will be just a bump in the road for them.
January 21, 20223 yr 19 minutes ago, Columbo said: It has all been up, up, up for Root until this news. Hopefully this will be just a bump in the road for them. Their stock price is down 87% in the last year. Their earnings will be very interesting next month. Very Stable Genius
January 21, 20223 yr Other auto insurance companies were very profitable during 2020. Now 2021 may be a different story. How are the other auto insurance companies weathering the issues Root cites in the story? I mean, they sound real.
January 21, 20223 yr 1 hour ago, DarkandStormy said: Their stock price is down 87% in the last year. Their earnings will be very interesting next month. Didn't know about that. Even accounting for the sometimes IPO effect on stock price, that's quite a drop. Hopefully Root can weather whatever it is they are going through. Otherwise, this would be a massive comedown from the highest-valued market debut in Ohio history in 2020. The below reddit discussion about the Root layoffs was interesting. A number of posters purporting to be with other local insurance companies are asking the laid off Root employees to contact them because they have open positions to fill: https://www.reddit.com/r/Columbus/comments/s8reiy/did_root_ins_do_a_large_amount_of_layoffs/
January 21, 20223 yr 10 hours ago, Columbo said: Didn't know about that. Even accounting for the sometimes IPO effect on stock price, that's quite a drop. Hopefully Root can weather whatever it is they are going through. Otherwise, this would be a massive comedown from the highest-valued market debut in Ohio history in 2020. The below reddit discussion about the Root layoffs was interesting. A number of posters purporting to be with other local insurance companies are asking the laid off Root employees to contact them because they have open positions to fill: https://www.reddit.com/r/Columbus/comments/s8reiy/did_root_ins_do_a_large_amount_of_layoffs/ I'm not sure what's proprietary or new about Root's model...which they claim comes from tracking one's driving via an app and then assigning you a premium based on your driving habits. Almost all of the big companies in the industry offer this, whether it's through an app or a device you plug in your car. There's nothing new - from what I can tell - about what Root is offering. On top of that, there were plenty of anecdotes from people who had an "introductory" rate for 3 or 6 months, only to have their premiums rise without notice after that. If that's their model, alienating your customer base is not a good way to sustain your insured base. 12 hours ago, GCrites80s said: Other auto insurance companies were very profitable during 2020. Now 2021 may be a different story. How are the other auto insurance companies weathering the issues Root cites in the story? I mean, they sound real. I'm not entirely sure. Root could have overestimated the "work from home" effect in March-May 2020. That is, there were not very many miles driven in that time, so they likely lowered premiums based on risk dropping. But pretty quickly thereafter, miles driven rebounded to more "normal" levels and I believe 2021 ended up very near where 2019 was. Root wouldn't have been the only ones to have done this if they did. As for the results of other companies, most 2021 financials won't be out until next month. I'm also not sure which insurers break out auto insurance and which ones don't (to my knowledge, Root only offers auto insurance, most other insurance companies add on life, home, etc.). All State: 2020 - ~$45bn revenue, $5.5bn net income / TTM (so 9/30/20-9/30/21) - ~$51bn revenue, $3.3bn net income Progressive: 2020 - ~$43bn revenue, $5.7bn net income / TTM - ~$46bn revenue, $4bn net income Just for a couple examples. But again, without knowing the breakout of auto, home, life, etc. it's hard to get an apples to apples comparison to Root. If All State, Progressive, and others have seen an uptick in life insurance payouts (due to covid - and we know excess deaths are up about 1m in the last two years), then it's possible their auto business stayed steady. Other factors might be over estimating the "work from home" effect in early 2020, supply chain issues for repairs increasing the cost of claims, and probably others I'm missing. Very Stable Genius
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