January 6, 20223 yr Eaton acquisition: "Power management company Eaton (NYSE: ETN) announced it has acquired Royal Power Solutions, an Illinois-based maker of electrical connectivity components used in the electric vehicle, energy management, industrial and mobility markets, for $600 million...." https://www.crainscleveland.com/manufacturing/eaton-buys-illinois-company-royal-power-solutions-600-million
January 9, 20223 yr Never heard of these people but they are promoting moving to Cleveland. https://livability.com/topics/where-to-live-now/looking-for-a-fresh-start-heres-where-to-move/?fbclid=IwAR1-LTXMp27mlxRh8dC2ko_tV41JuEoL0LEK1BCdTF1Cum21aRsD1umPNu4
January 9, 20223 yr SPAC Zanite to help urban air mobility company Eve take flight https://www.crainscleveland.com/finance/spac-zanite-help-urban-air-mobility-company-eve-take-flight The section most related to Cleveland business: "What’s next for Zanite? Zanite shareholders and founders will have a combined 10% stake in Eve as the merger closes. Ricci will join the Eve board at that time as well. Eve’s U.S. headquarters won’t be in Cleveland, Rosen said, but likely somewhere in Florida, possibly Melbourne. While this current iteration of Zanite morphs into Eve with the merger, Rosen already is thinking about a Zanite 2.0. “It has not been determined yet, but Zanite will continue building out in the SPAC marketplace,” Rosen said. “That will still be based in Cleveland and similar to Zanite one. We hope to build out a Zanite franchise going forward.” That means possible raising money for a second deal at some point in the future. In the meantime, Rosen is eager to see what plays out with Eve. “As someone who just absolutely appreciates smart, talented, innovative ideas that disrupt industries, this is as exciting as anything I’ve been involved in,” he said. “To think about being part of the future of aviation as it relates to this market is just an incredible opportunity.”"
January 11, 20223 yr Author This may have been overlooked, but is extremely important to the city and the region in repositioning itself. State brownfield program could spur development of many contaminated sites across Cuyahoga County Updated: Jan. 10, 2022, 9:01 a.m. | Published: Jan. 10, 2022, 9:00 a.m. By Peter Krouse, cleveland.com CLEVELAND, Ohio – Gov. Mike DeWine’s announcement in December that the state will provide $350 million for brownfield remediation has propelled several local developers into action. Roughly two dozen interested parties have contacted the Cuyahoga County Department of Development about the state’s Brownfield Remediation Program, and several have requested formal assistance in seeking a grant, said Paul Herdeg, director of development for the county. The brownfield program has the potential to kickstart a number of projects across the county that are in need of environmental remediation, whether it’s neutralizing PCBs in soil, removing asbestos and lead paint from buildings, or some other level of contamination. More at: https://www.cleveland.com/news/2022/01/state-brownfield-program-could-spur-development-of-many-contaminated-sites-across-cuyahoga-county.html
January 11, 20223 yr 1 hour ago, Oldmanladyluck said: This may have been overlooked, but is extremely important to the city and the region in repositioning itself. State brownfield program could spur development of many contaminated sites across Cuyahoga County Updated: Jan. 10, 2022, 9:01 a.m. | Published: Jan. 10, 2022, 9:00 a.m. By Peter Krouse, cleveland.com CLEVELAND, Ohio – Gov. Mike DeWine’s announcement in December that the state will provide $350 million for brownfield remediation has propelled several local developers into action. Roughly two dozen interested parties have contacted the Cuyahoga County Department of Development about the state’s Brownfield Remediation Program, and several have requested formal assistance in seeking a grant, said Paul Herdeg, director of development for the county. The brownfield program has the potential to kickstart a number of projects across the county that are in need of environmental remediation, whether it’s neutralizing PCBs in soil, removing asbestos and lead paint from buildings, or some other level of contamination. More at: https://www.cleveland.com/news/2022/01/state-brownfield-program-could-spur-development-of-many-contaminated-sites-across-cuyahoga-county.html If anything, extremely important is an understatement. More important is meeting commitments made. The state backing out of a similar commitment put Taylor Chair out of business after over 200 years.
January 11, 20223 yr 2 hours ago, Oldmanladyluck said: State brownfield program could spur development of many contaminated sites across Cuyahoga County Updated: Jan. 10, 2022, 9:01 a.m. | Published: Jan. 10, 2022, 9:00 a.m. By Peter Krouse, cleveland.com CLEVELAND, Ohio – Gov. Mike DeWine’s announcement in December that the state will provide $350 million for brownfield remediation has propelled several local developers into action. Roughly two dozen interested parties have contacted the Cuyahoga County Department of Development about the state’s Brownfield Remediation Program, and several have requested formal assistance in seeking a grant, said Paul Herdeg, director of development for the county. The brownfield program has the potential to kickstart a number of projects across the county that are in need of environmental remediation, whether it’s neutralizing PCBs in soil, removing asbestos and lead paint from buildings, or some other level of contamination. More at: https://www.cleveland.com/news/2022/01/state-brownfield-program-could-spur-development-of-many-contaminated-sites-across-cuyahoga-county.html The Walton Hills Ford Plant redevelopment by the JV of Weston Inc., the DiGeronimo Cos. and Scannell Properties was named as one project and group seeking grant money from the state's Brownfield Remediation Program. https://www.crainscleveland.com/real-estate/developers-buy-former-ford-plant-walton-hills-plan-transformation Edited January 11, 20223 yr by infrafreak specify developer
January 11, 20223 yr 1 minute ago, infrafreak said: The Walton Hills Ford Plant redevelopment was named as one group seeking grant money from the state's Brownfield Remediation Program. https://www.crainscleveland.com/real-estate/developers-buy-former-ford-plant-walton-hills-plan-transformation I wish this money would be spent in the city of Cleveland, where there are plenty of brownfields and much better access to transit for new jobs.
January 11, 20223 yr 5 hours ago, E Rocc said: CWRU in particular has been at the forefront of semiconductor development for decades. With the OC opening up, I'm going to say someone dropped the ball. From the observation deck of Terminal Tower. https://www.cleveland.com/open/2022/01/ohio-in-the-running-to-land-major-semi-conductor-factory.html?fbclid=IwAR0B1CPnv-cpa1mGhMGWAPFGpBfxYC6kpbEByZjVmJUJnSxr2A_tvgTiGUA I am so ridiculously hopeful that the new Mayor's office is actively engaging opportunities like this. There's some rumors here on the forum that the old mayor's office ghosted pixar executives when they were exploring headquartering in Cleveland. Can you imagine what a different trajectory Cleveland would be on if we had been actively seeking new industries and employment opportunities over the last 16 years?
January 11, 20223 yr Yes, we might be #2 in available jobs among Midwest cities (behind only Chicago) rather than #4 (behind Chicago, Minneapolis and Detroit), according to Indeed.com. I wrote about it here.... https://neo-trans.blog/2021/11/23/cleveland-offers-more-jobs-than-some-sun-belt-powerhouses/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 11, 20223 yr Absolutely LlamaLawyer. Getting one of those quantum computers was a coup for Cleveland. For the moment we're ahead of the competition. Our research institutions should leverage it to bring in additional research dollars as well induce tech companies to open an office here. It may be a long shot because we still don't have a critical mass of people with the right skills but access to that computer needs to be exploited.
January 11, 20223 yr I think the quantum computer is awesome tech, but I'm skeptical of it's power as an economic development and jobs creation tool. In my understanding, quantum computers are mostly controlled from regular computers which can be anywhere in the world, with little benefit to being in physical proximity to them.
January 11, 20223 yr 1 hour ago, X said: I think the quantum computer is awesome tech, but I'm skeptical of it's power as an economic development and jobs creation tool. In my understanding, quantum computers are mostly controlled from regular computers which can be anywhere in the world, with little benefit to being in physical proximity to them. That’s fair, although physical proximity may become more important as the computational power scales up. The Cleveland Clinic apparently believes having one onsite is valuable, so that’s something.
January 12, 20223 yr Yes, but "onsite" and "nearby" are very different things. Onsite comes with a lot of control of the machine that nearby doesn't. I could be wrong about this, please tell me if anyone knows, but the main use case seems to be to send them some huge dataset, and your machine learning algorithms, and they crunch the results in a massive batch and you get back results- processing speed is key, but latency (caused by distance across a network) doesn't really matter. You're not really working on them in real time like you would a personal computer.
January 12, 20223 yr Well, with quantum computing your proximty doesn't even have to be in the same galaxy to carry information.... Spooky interaction between entangled particles...and all that (or so I'm told 😉)
January 14, 20223 yr Why this paint maker is being forced to jack up prices by 12% on consumers 12% yikes!! Guess they have a building to pay for too lol https://finance.yahoo.com/news/why-sherman-williams-is-being-forced-to-jack-up-prices-by-12-on-consumers-182259476.html
January 19, 20223 yr Worth reading... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 19, 20223 yr Dept of Defense wants a refund AGAIN (last time was 2019) from TransDigm for excess profit: "The inspector general "found that TransDigm's business model is specifically designed to raise prices on defense contracts," House Oversight Committee chairwoman Carolyn Maloney said ahead of a Wednesday, Jan. 19, hearing on the topic." "An audit by the Pentagon's inspector general found the company's excess profit amounted to $20.8 million — or more than half of $38.3 million it collected on 153 sole-source contracts from 2017 through mid-2019 that the watchdog reviewed. A previous audit issued in 2019 found $16.1 million in excess profit on $29.7 million in contracts from 2015 to 2017, and the company eventually refunded that amount." https://www.crainscleveland.com/manufacturing/pentagon-seeks-refunds-pressure-piles-spare-parts-maker-transdigm-group-inc I don't know much about TransDigm if they're an upstanding company or not. Would love to hear anyone's insights here!
January 19, 20223 yr On 1/11/2022 at 7:43 PM, X said: Yes, but "onsite" and "nearby" are very different things. Onsite comes with a lot of control of the machine that nearby doesn't. I could be wrong about this, please tell me if anyone knows, but the main use case seems to be to send them some huge dataset, and your machine learning algorithms, and they crunch the results in a massive batch and you get back results- processing speed is key, but latency (caused by distance across a network) doesn't really matter. You're not really working on them in real time like you would a personal computer. It will be onsite. Probably located in the new building the Cleveland Clinic builds for its pathogen research center. I am by no means a computer expert, but the largest U.S. supercomputers are located at large research facilities like Oak Ridge or Lawrence Livermore, both of which have several thousand employees (although both of which do more than just operate one supercomputer of course). The fact that the biggest current supercomputers are located at research facilities instead of the middle of Montana where land is cheap leads me to conclude that there are some benefits to the location of a supercomputer. The reason may simply be staffing needs, but if this quantum computer needs a substantial number of highly trained staff, isn't that an economic benefit to having it onsite?
January 19, 20223 yr 13 hours ago, KJP said: Worth reading... Question for everyone -- Is there any good study, book, or other resource that deals with assessing what ideal economic development looks like? I obviously get excited about big developments coming to Cleveland since the region has been bleeding for so long, but I wonder how one judges the threshold or character of development that really helps the city rather than making it unrecognizable. A friend of mine from Seattle has talked about how he feels like Amazon ruined the city and it doesn't really have the same features he loved growing up. What does it look like to have positive development but avoid turning a city into a Manhattan clone or a San Francisco clone?
January 19, 20223 yr ^"ideal economic development" in the sense you're getting at is pretty subjective, no? Based on housing costs and population growth, Seattle seems anything but "ruined" even if you're friend hasn't liked the changes.
January 19, 20223 yr LlamaLawyer I'm not an expert on what elements make for ideal economic development other than the obvious ones. Those being access to a large university (which provides a steady stream of young/cheap graduates to fill the jobs created), local and state dollars, aggressive leadership in pursuing projects and of course lots of cheap, virgin land. But as to your concern about development potentially ruining Northeast Ohio... well let's just say that's not going to happen because we are not on anybody's radar as yet. Our number one asset is an abundance of clean fresh water and I don't see that being a gamechanger for at least another couple of decades. Make no mistake though. At some point that will be an incredibly valuable asset - its just that we're not there in 2022. So no need to worry about the problems that come with prosperity/growth.
January 19, 20223 yr 8 minutes ago, cadmen said: LlamaLawyer I'm not an expert on what elements make for ideal economic development other than the obvious ones. Those being access to a large university (which provides a steady stream of young/cheap graduates to fill the jobs created), local and state dollars, aggressive leadership in pursuing projects and of course lots of cheap, virgin land. But as to your concern about development potentially ruining Northeast Ohio... well let's just say that's not going to happen because we are not on anybody's radar as yet. Our number one asset is an abundance of clean fresh water and I don't see that being a gamechanger for at least another couple of decades. Make no mistake though. At some point that will be an incredibly valuable asset - its just that we're not there in 2022. So no need to worry about the problems that come with prosperity/growth. I appreciate the comment. For sure, I'm not worried about overdevelopment right now. My question was more theoretical.
January 19, 20223 yr 14 hours ago, KJP said: Worth reading... I agree with most of that. Cleveland lacks the developable land near the core and comparable colleges for a project of this scale. Most of the vacant land in a 25 mile radius is either brownfield or parkland. Some though sounds a bit like sour grapes. These aren't typical manufacturing jobs. They are better paying and require specialized skills. And it's not like we are winning a bunch of small scale manufacturing projects either. Most of what's being built is low density and low pay warehousing.
January 19, 20223 yr ^ I took several grad classes in CSU's Urban Affair's department (didn't finish because I saw it as more of a hobby than a career) but I know there is an abundance of books on best practices of urban development. The thing is, in the real world all that theory gets muddled up with competing interests. Even the best project is not built in a vacuum. And because developments happen over time the whole (city) is never a finished product. You do the best that you can all the while knowing you're going to end up with a camel rather than a horse (if you get my reference).
January 19, 20223 yr Author I could agree with the premise that ten projects which total 5,000 jobs would have somewhat of the same impact as one major center with 5,000 jobs. The obvious problem is the lack of readily available land which isn’t brownfield within the core of the region. Funding the cleaning of these fields would instantly make the region more competitive for smaller projects which could fit into the existing grid. I wish a portion of the ARPA funds which were allocated could be used for brownfield reclaiming. That along with an automatic lien placed on the land so the parcels could be eventually placed in the city land bank after court action. I don’t know if that would be an allowed use of the ARPA funds but it could help the region SO much if there was more of a push towards regional brownfield remediation.
January 20, 20223 yr i was guessing arhaus was doing well just based on that they seem to get the most foot traffic out here in nyc in the meatpacking district arhaus shop in our neighborhood. i see that indeed they are doing well -- in fact looking to double: https://www.bizjournals.com/cleveland/news/2021/12/09/arhaus-expected-to-double-in-size-in-few-years.html
January 21, 20223 yr I'd sure like to know if IBM's sale of a portion of Watson Health includes the former Explorys and Cleveland Clinic efforts. The buyer is a Silicon Valley equity fund. https://www.hcinnovationgroup.com/finance-revenue-cycle/health-it-market/news/21253978/ibm-sells-off-watson-health-assets Remember: It's the Year of the Snake
January 21, 20223 yr This can't be accurate re the amount of VC that cleveland gets is it? Cleveland - Venture capital funding: $19 million Columbus, Ohio - Venture capital funding: $573 million Austin - Venture capital funding:$799 million Denver - Venture capital funding: $709 million Nice we made this list of "10 best cities for entrepreneurs in 2022" but that $19M just looks atrocious. https://www.thezebra.com/resources/research/best-cities-for-entrepreneurs/
January 21, 20223 yr 1 hour ago, Dougal said: I'd sure like to know if IBM's sale of a portion of Watson Health includes the former Explorys and Cleveland Clinic efforts. The buyer is a Silicon Valley equity fund. https://www.hcinnovationgroup.com/finance-revenue-cycle/health-it-market/news/21253978/ibm-sells-off-watson-health-assets IBM was exploring the sale of Watson Healthcare BEFORE it announced its newest partnership with the Clinic on AI and quantum computing issues. https://www.wsj.com/articles/ibm-explores-sale-of-ibm-watson-health-11613696770?mod=article_inline You'll also notice the announcement of the Clinic-IBM Discovery Accelerator partnership doesn't mention Watson at all. That leads me to wonder if the partnership and sale of Watson are interconnected. I would assume IBM is starting fresh with the Cleveland Clinic and they don't want to leave the healthcare industry, they just decided Watson isn't the right way to do it. EDIT: I just have to add, this could make a lot of sense since IBM is currently the industry leader in quantum computing with its Eagle, but tails competitors in every other area. If IBM wants to reboot, placing a significant quantum investment is a good way to do this b/c quantum enhanced AI (as soon as it's practical) will absolutely leave other AI in the dust. Edited January 21, 20223 yr by LlamaLawyer
January 21, 20223 yr 21 minutes ago, LlamaLawyer said: IBM was exploring the sale of Watson Healthcare BEFORE it announced its newest partnership with the Clinic on AI and quantum computing issues. https://www.wsj.com/articles/ibm-explores-sale-of-ibm-watson-health-11613696770?mod=article_inline You'll also notice the announcement of the Clinic-IBM Discovery Accelerator partnership doesn't mention Watson at all. That leads me to wonder if the partnership and sale of Watson are interconnected. I would assume IBM is starting fresh with the Cleveland Clinic and they don't want to leave the healthcare industry, they just decided Watson isn't the right way to do it. There is always the possibility that the Clinic agreement could be a more important part of the new "Watson" than it was of the old IBM. I guess we just wait to find out. Remember: It's the Year of the Snake
January 21, 20223 yr 1 hour ago, Pugu said: This can't be accurate re the amount of VC that cleveland gets is it? Cleveland - Venture capital funding: $19 million Columbus, Ohio - Venture capital funding: $573 million Austin - Venture capital funding:$799 million Denver - Venture capital funding: $709 million Nice we made this list of "10 best cities for entrepreneurs in 2022" but that $19M just looks atrocious. https://www.thezebra.com/resources/research/best-cities-for-entrepreneurs/ Not sure how Cleveland makes this list if that’s how much VC funding there was. Thinking a number was left off either the beginning or end of that. Edit: It also seems to mention most cities VC funding for 2020. Boxcast had $20 million of VC funding in Q4 2020 alone. Edited January 21, 20223 yr by Sapper Daddy
January 21, 20223 yr Thanks for the link Pugu. I'm always interested in lists/rankings showing economic activity even though they seem to show conflicting data. I can't make any sense of how we're doing as a state or region. On one hand Ohio is dropping nationally in per capita income and has been for decades. I think we're now in the bottom 25 states and still falling. Anecdotally, whenever I read about a large investment being made invariably it's not in Ohio, albeit the news of a massive new chip factory is phenomenal even if it is Columbus and not Cleveland. But whenever I read an article about Venture Capital investment its always the same half dozen states on the coasts so it appears Ohio is not doing so well. On the other hand Site magazine always seems to list Ohio as one of the top states for new business investment. And now this link showing we have two of the top ten cities for entrepreneurs. How does that equate? Maybe the truth is somewhere in the middle and we're doing just ok at best.
January 24, 20223 yr I liked the admission in this article that Diebold Nixdorf moved to Hudson to be closer to the Cleveland airport. Time to start calling Hudson a Cleveland suburb. https://www.crainscleveland.com/real-estate/diebold-nixdorfs-move-hudson-nearly-complete Remember: It's the Year of the Snake
January 24, 20223 yr 1 minute ago, Dougal said: I liked the admission in this article that Diebold Nixdorf moved to Hudson to be closer to the Cleveland airport. Time to start calling Hudson a Cleveland suburb. https://www.crainscleveland.com/real-estate/diebold-nixdorfs-move-hudson-nearly-complete I know several "Clevelanders" who reside in Hudson.
January 24, 20223 yr ^^It’s a bit of a sop to their former HQ to say that now their customers can visit them more easily by flying into either airport. I’d bet dollars to donuts that 90%+ of those visitors came and will continue to come via CLE and the remaining few % ain’t gonna stop doing business with them because now they have to fly through CLE. My hovercraft is full of eels
January 25, 20223 yr Some CBIZ news from Kansas City: "CBIZ Inc., a Cleveland-based financial, benefits and insurance services provider (NYSE: CBZ), and Kansas City-based Mayer Hoffman McCann PC, an independent CPA firm led by President Andy Burczyk that is closely affiliated with CBIZ, have brought one of the nation's biggest accounting firms into their ranks. At the start of 2022, CBIZ and MHM acquired New York-based Marks Paneth LLP in pieces. CBIZ acquired the non-attest assets, and MHM acquired the attest assets. According to a filing with the Securities and Exchange Commission, CBIZ will pay a minimum of $81.25 million and a maximum of $156.5 million, depending on the firm's future performance...." https://www.bizjournals.com/kansascity/news/2022/01/24/cbiz-mayer-hoffman-mccann-buy-marks-paneth-cpa.html What are "attest assets" vs "non-attest assets"? Edited January 25, 20223 yr by Pugu
January 27, 20223 yr Of the top 10 cities for new businesses in 2021, all were in the South, except one: Cleveland. "The number of individuals filing paperwork to start a business rose 25% from 2019 to 2020, according to new data from LendingTree. The data excludes those who decided to freelance or do other work that did not require filing for an Employer Identification Number. The increase continued through 2021, with 600,000 people filing for an EIN through November 2021.... Among the 100 metro areas with the most new formations, Memphis had the strongest growth in business applications, according to a new study by LendingTree. Mobile, Ala.; Shreveport, La.; Baton Rouge, La.; and Augusta, Ga.; rounded out the top five. Of the 10 metro areas with the biggest growth in new business formations, only one was not located in the South. That honor belongs to Cleveland, Ohio, which ranked at No. 8, according to LendingTree." https://www.bizjournals.com/cincinnati/news/2022/01/26/pandemic-entrepreneurship-boom.html
January 27, 20223 yr 2 hours ago, Pugu said: Of the top 10 cities for new businesses in 2021, all were in the South, except one: Cleveland. "The number of individuals filing paperwork to start a business rose 25% from 2019 to 2020, according to new data from LendingTree. The data excludes those who decided to freelance or do other work that did not require filing for an Employer Identification Number. The increase continued through 2021, with 600,000 people filing for an EIN through November 2021.... Among the 100 metro areas with the most new formations, Memphis had the strongest growth in business applications, according to a new study by LendingTree. Mobile, Ala.; Shreveport, La.; Baton Rouge, La.; and Augusta, Ga.; rounded out the top five. Of the 10 metro areas with the biggest growth in new business formations, only one was not located in the South. That honor belongs to Cleveland, Ohio, which ranked at No. 8, according to LendingTree." https://www.bizjournals.com/cincinnati/news/2022/01/26/pandemic-entrepreneurship-boom.html Really excellent news. Does the article give any indication of what sort of businesses were generally being started? I can't read it.
January 28, 20223 yr Uh...I came in this thread to see business updates about Cleveland. Why on earth are there two pages of Columbus stuff...in a Cleveland thread? Back to Cleveland business talk, folks. "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
January 29, 20223 yr https://www.wsj.com/articles/goodbye-to-the-days-of-the-rust-belt-11643302840?mod=Searchresults_pos1&page=1 Coauthored by Urbanist-in-Chief Richard Florida and David Adams, this piece is mostly a "Rustbelt" booster inspired by the big Intel investment in Ohio. Cleveland does get a few favorable specific call-outs, one for having a major research university and another for having sufficient business-friendly attributes to make just about any new business happy. It's not a killer story, but it adds to the Midwest's brief. Remember: It's the Year of the Snake
January 31, 20223 yr I can't believe I haven't seen this posted yet. Also, not quite sure where it should go, but Naval shipyards, thousands of jobs could be coming to Lorain and Lordstown (news5cleveland.com). This is could be huge. https://www.news5cleveland.com/news/local-news/oh-lorain/naval-shipyards-thousands-of-jobs-could-be-coming-to-lorain-and-lordstown Edited January 31, 20223 yr by STRIVE2THRIVE
January 31, 20223 yr 4 minutes ago, STRIVE2THRIVE said: I can't believe I haven't seen this posted yet. Also, not quite sure where it should go, but Naval shipyards, thousands of jobs could be coming to Lorain and Lordstown (news5cleveland.com). This is could be huge. https://www.news5cleveland.com/news/local-news/oh-lorain/naval-shipyards-thousands-of-jobs-could-be-coming-to-lorain-and-lordstown It has actually been posted a while ago and discussed at length I believe in the Lorain thread
January 31, 20223 yr 2 hours ago, STRIVE2THRIVE said: I can't believe I haven't seen this posted yet. Also, not quite sure where it should go, but Naval shipyards, thousands of jobs could be coming to Lorain and Lordstown (news5cleveland.com). This is could be huge. https://www.news5cleveland.com/news/local-news/oh-lorain/naval-shipyards-thousands-of-jobs-could-be-coming-to-lorain-and-lordstown The surface draft of a Virginia class SSN is 30.5 feet while the navigable depth of the Seaway is 27. Off-loading weapons and stores might get the boat up to 27 feet, but would the Navy want to run it light for about 1600 miles (Groton to Lorain)? I don't want to quash the Captain's blue-sky plans for Lorain, but looking at a smaller vessel like the LCS's now being built in Wisconsin might be a better idea. Remember: It's the Year of the Snake
January 31, 20223 yr I keep seeing talk of spin off development in Cleveland from Intel. I guess I am just wondering what businesses would benefit all the way up here? Wouldn’t the spin-offs be more in Columbus?
January 31, 20223 yr Of course Columbus will get the biggest chunk of any spin-off work. But because this development is so large (projected to be anywhere from two to ten billion) there will be contracts let around the state. So yes, northeast Ohio will get some of that. In a perfect economic world not only will existing firms will get orders but new companies will be created to also fill a need.
January 31, 20223 yr 17 minutes ago, cadmen said: Of course Columbus will get the biggest chunk of any spin-off work. But because this development is so large (projected to be anywhere from two to ten billion) there will be contracts let around the state. So yes, northeast Ohio will get some of that. In a perfect economic world not only will existing firms will get orders but new companies will be created to also fill a need. Is there something that binds Intel to the State so that some contracts necessarily will go to CLE (and Cinci)? or it just assumed (correctly) that Columbus can't support Intel alone so that other suppliers and contracts will be needed. If the latter, these could come from anywhere--Pittsburgh, Austin, NYC, Boston, etc--nothing guaranteeing any benefit to CLE at all unless there is something specific in the deal.
January 31, 20223 yr Not a giant acquisition, but every little piece helps. "The Austin Co, the big Mayfield Heights-headquartered design-build contractor, has just acquired Gala & Associates, a Detroit-based architecture and engineering firm active in automotive and other markets....Gala also has offices in South Carolina, Mexico and India. Its portfolio includes automobile assembly plants, stamping plants, other industrial buildings and government buildings. Pierce said the automotive sector is growing, with new plants in the U.S. and anticipated electric vehicle plants. The LinkedIn website indicates Gala has about 50 associates...." https://www.crainscleveland.com/real-estate/austin-adds-michigan-design-engineering-firm-building-empire
January 31, 20223 yr 1 hour ago, cadmen said: Of course Columbus will get the biggest chunk of any spin-off work. But because this development is so large (projected to be anywhere from two to ten billion) there will be contracts let around the state. So yes, northeast Ohio will get some of that. In a perfect economic world not only will existing firms will get orders but new companies will be created to also fill a need. I think it is a minimum of 20 billion committed and up to 100 billion eventually-not counting the billions in spin off development, jobs, ancillary industry growth, etc. etc. but yes it is so big the wealth will have to be spread around the state and Cleveland and NEO should be doing whatever it can starting yesterday to make sure it gets as much of that as it can instead of letting it go to some backwater like Indiana or Western Pa, the state up north, etc. Why should any other state benefit-Ohio should try to get it all! What other states look out for us?
January 31, 20223 yr 1 hour ago, Pugu said: Is there something that binds Intel to the State so that some contracts necessarily will go to CLE (and Cinci)? or it just assumed (correctly) that Columbus can't support Intel alone so that other suppliers and contracts will be needed. If the latter, these could come from anywhere--Pittsburgh, Austin, NYC, Boston, etc--nothing guaranteeing any benefit to CLE at all unless there is something specific in the deal. It's not about the state, it's about proximity. Intel engineers will want to inspect facilities where suppliers are producing parts, and may need to make relatively frequent trips back and forth depending on what is being made. Service companies will probably do some of the more specialized equipment maintenance, and their employees would have to actually physically go to Intel to do repair work. Raw material suppliers have to actually ship materials to the site. These and many other activities require people or things to physically go to Intel's production location. That's why Cleveland stands to benefit a lot more than Austin. Intel can call up a Cleveland based service company at 10 AM and expect a service person onsite that day. If the service company was based in Austin, everything would have to be schedule a week in advance and would require a plane ride. Obviously some suppliers have to be from far away--certain minerals only come from certain parts of the world, and some types of specialists only exist in New York or silicon valley. Given my knowledge of how supplier relationships developed around Honda (I used to work for a contractor that does shipping for Honda), I would expect the majority of spinoff businesses to develop within a 45-minute driving radius of Intel, with a decent number but less than half falling in a 1-3 hour driving radius, and very few being more than three hours away. So I would anticipate some spinoff development as far as Toledo or Pittsburgh. Beyond that, the locations of suppliers will be determined by factors known only to Intel or silicon specialists.
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