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28 minutes ago, LlamaLawyer said:

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.


Well said. I think Cleveland benefits if we have the needed suppliers already in place here that are robust enough for Intel to tap into. What those are I'm not sure. Any new spin-off needed I would assume would be built in Columbus metro because it's closer. That's my thinking at least.

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    LlamaLawyer

    Y’know, the county as a whole isn’t growing either (at least not till recently). Downtown Cleveland and University Circle are growing as fast or faster than ANYWHERE else in the county. Cleveland co

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SeaWorld makes $3.4 billion takeover bid for Cedar Fair

 

"SeaWorld Entertainment Inc. (NYSE: SEAS) has offered to buy amusement park owner Cedar Fair (NYSE: FUN) for around $3.4 billion, people with knowledge of the matter said....Deliberations are ongoing, and it's unclear whether the approach will lead to a transaction, the people said. Cedar Fair confirmed in a statement issued Tuesday, Feb. 1, that it had received and was reviewing an "unsolicited, non-binding" proposal from SeaWorld. Perella Weinberg Partners LP and Weil Gotshal & Manges LLP are advising Cedar Fair....."

 

https://www.crainscleveland.com/arts-entertainment/seaworld-makes-34-billion-takeover-bid-cedar-fair

4 minutes ago, Pugu said:

SeaWorld makes $3.4 billion takeover bid for Cedar Fair

 

"SeaWorld Entertainment Inc. (NYSE: SEAS) has offered to buy amusement park owner Cedar Fair (NYSE: FUN) for around $3.4 billion, people with knowledge of the matter said....Deliberations are ongoing, and it's unclear whether the approach will lead to a transaction, the people said. Cedar Fair confirmed in a statement issued Tuesday, Feb. 1, that it had received and was reviewing an "unsolicited, non-binding" proposal from SeaWorld. Perella Weinberg Partners LP and Weil Gotshal & Manges LLP are advising Cedar Fair....."

 

https://www.crainscleveland.com/arts-entertainment/seaworld-makes-34-billion-takeover-bid-cedar-fair

 

Oh please no.   

11 minutes ago, Cleburger said:

 

Oh please no.   

 

Sea World about to avenge for what Cedar Fair did to Geauga Lake!!! 

IMO if this occurs it could spell the end of Cedar Fair's Sandusky hq. From articles l've read they are already moving some things/people out of Sandusky. Cedar Fair is a great asset for the region. Anything that jeopardizes the Sandusky hq. is not good.

3 minutes ago, cadmen said:

IMO if this occurs it could spell the end of Cedar Fair's Sandusky hq. From articles l've read they are already moving some things/people out of Sandusky. Cedar Fair is a great asset for the region. Anything that jeopardizes the Sandusky hq. is not good.

 

I agree. Plus look at what Sea World already did to Cleveland---they closed their park in Aurora. I hope this deal does not happen.

9 minutes ago, mrnyc said:

 

this was interesting:  "Cedar Fair rejected a takeover offer of $4 billion, or about $70 per share, from larger peer Six Flags Entertainment Corp in 2019, saying the bid was too low."  

 

Sea World's bid is even lower. Maybe Cedar Fair is struggling (covid?) and Sea World knows it? Otherwise why come in lower?

 

 

2 hours ago, Pugu said:

 

this was interesting:  "Cedar Fair rejected a takeover offer of $4 billion, or about $70 per share, from larger peer Six Flags Entertainment Corp in 2019, saying the bid was too low."  

 

Sea World's bid is even lower. Maybe Cedar Fair is struggling (covid?) and Sea World knows it? Otherwise why come in lower?

 

 

I would assume all amusement park operators are similarly struggling. The Crain's article also mentions that Sea World is bullish on post-COVID performance of amusement parks, I would think Cedar Fair has a similar outlook. So I hope you're right, and they turn down this offer. 

 

3 hours ago, Pugu said:

 

I agree. Plus look at what Sea World already did to Cleveland---they closed their park in Aurora. I hope this deal does not happen.

That park was struggling, I don't believe Cedar Point is (COVID not withstanding), I don't think Sea World closing the park is the greatest concern. 

 

Cedar Fair has been a good partner to Sandusky recently, partnering with the city to make capital improvements and investing in BG nearby to create a hospitality management program. I would think that those initiatives and programs go away overnight if this deal goes through. Along with the corporate salaries (though the corporate offices weren't that large). @cadmen, mentioned that there were hints that the HQ might be on the way out of Sandusky anyway. Their HQ was a small building on site and very outdate, I believe they planned on moving it recently. Given the commitments they had made in Sandusky and that the company views Cedar Point as their flagship park I'm not sure I buy that they're slowly moving out if the sale doesn't go through. 

  • 2 weeks later...

This is kind of non-news, to be honest.  The FT's top 100 worldwide B School list was published today; and in the whole of Ohio only Ohio State was on it, and fairly low ranking at that.  Cleveland really needs to be on this list in the top 50. 

 

https://rankings.ft.com/home/masters-in-business-administration

 

CWRU has other fish to fry. CSU and maybe John Carroll are candidates.  Carroll I'm not so sure about; their administration seems unfocused in what they're doing.  CSU is probably the horse to back.

Edited by Dougal

Remember: It's the Year of the Snake

AiPSO of Rhode Island is leasing 17.7K sq ft in Mayfield Heights to take over the joint venture of a subsidiary of Progressive that provides insurance to social security annuitants (in New Jersey only?).  AiPSO is a non-profit.  Progressive's actual goals in this deal are murky to me at least - trying for more Social Security related annuitant business? 

 

The upshot is it seems to mean a growing number of jobs (60 now, coming from Progressive, 20 later, ?? after that) in Mayfield Heights.

 

https://www.crainscleveland.com/finance/insurance-services-provider-aipso-secures-cleveland-market-office-space

 

 

Edited by Dougal

Remember: It's the Year of the Snake

On 2/14/2022 at 11:00 AM, Dougal said:

This is kind of non-news, to be honest.  The FT's top 100 worldwide B School list was published today; and in the whole of Ohio only Ohio State was on it, and fairly low ranking at that.  Cleveland really needs to be on this list in the top 50. 

 

https://rankings.ft.com/home/masters-in-business-administration

 

CWRU has other fish to fry. CSU and maybe John Carroll are candidates.  Carroll I'm not so sure about; their administration seems unfocused in what they're doing.  CSU is probably the horse to back.

From what I saw on the list...OSU is around 22nd in the US and 37th in the entire World. 37th out of 100 is hardly a "fairly low ranking" and more like "in the middle".  Just sayin'. 37th in the entire World is 'fairly low'? And on a list of 100 at that?  ???

Edited by Toddguy

  • taestell changed the title to Cleveland: General Business & Economic News
  • 1 month later...

Cleveland Magazine: How the Columbus Intel Plant Impacts Northeast Ohio

 

Quote

With a $20 billion Intel plant headed to Ohio, we ask experts to take stock of how the investment could pay off locally. 

 

When Intel announced in January they were building a $20 billion complex to manufacture computer chips near Columbus, Gov. Mike DeWine heralded it as “monumental news for the state of Ohio” and “transformative for our state.”

 

It’s estimated the facility will sit on 1,000 acres, potentially employing 7,000 people during construction and 3,000 Intel employees when completed. And, although it’s in Licking County, the effects will ripple statewide, including in Northeast Ohio. We talked to three area experts about what this might mean.

 

https://clevelandmagazine.com/in-the-cle/news/articles/how-the-columbus-intel-plant-impacts-northeast-ohio

Rocky River logistics and transportation company opens offices near Long Beach, Vietnam ports

Published: Apr. 18, 2022, 2:54 p.m.

By Sean McDonnell, cleveland.com

 

ROCKY RIVER, Ohio — United World Line, part of the Greater Cleveland-based shipping and logistics company World Group, is adding offices near two key ports in Long Beach, California, and Vietnam.

 

The company announced the new offices Monday, saying they were opened to respond to rising demand. The twin ports in Long Beach and Los Angeles area among the busiest in the U.S., and Ho Chi Minh City in Vietnam is one of the busiest ports in the world.

 

UWL said it set record-breaking container volume in 2021 and is in the top-20 of American-owned global logistics companies. The company specializes in industries like ocean transportation, air freight, road and rail transportation along with warehousing and distribution.

 

It’s parent company, World Group, is based in Rocky River and touches the supply chain from one end to the other with its businesses, including UWL, ContainerPort Group, World Distribution Services and World Shipping.

 

https://www.cleveland.com/business/2022/04/rocky-river-logistics-and-transportation-company-opens-offices-near-long-beach-vietnam-ports.html

Terry Coyne's chat on CrainsCleveland podcast is full of interesting stuff.  Perhaps the most controversial thing he said was that he feels real estate tax abatements might not be a good thing - that absent the abatements prices would adjust.  Second most interesting:  Youngstown will be the next boomtown (in Ohio terms). Third most interesting - just give the Global Center for Health away.  Don't spend a dime on it. Get some company to commit to jobs and renovation themselves and give them the building.

 

https://www.crainscleveland.com/landscape/podcast-commercial-real-estate-broker-terry-coyne-sees-recovering-market?utm_source=afternoon-report&utm_medium=email&utm_campaign=20220422&utm_content=article2-headline

Remember: It's the Year of the Snake

I don't agree in giving it away although I do agree that some price, albeit a reduced one, is worthwhile to keep the kooks and the flakes out who aren't going to do anything feasible with it.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

I thought the convention center was going to use it for meeting space? Is that not happening?

 

Edited by LibertyBlvd

25 minutes ago, LibertyBlvd said:

I thought the convention center was going to use it for meeting space? Is that not happening?

 

Seems like the best use to me. I’d also like to see Public Auditorium have scheduling integration with the convention center. PA is way underutilized. 

When is the last time I-71 turned a profit?

Rise of the robots: Lincoln Electric adds to its manufacturing skills

 

"In just three years, Lincoln Electric Co. has built in Euclid what may be the largest 3D printing factory of its kind anywhere. The operation, Lincoln Electric Additive Solutions (LAS), mates Lincoln’s core arc welding capability with robotics to give the 125-year-old company entry into additive manufacturing, a rapidly growing sector of the manufacturing industry.

 

3D printing puts down layers of material, using a computer-guided design, to create three-dimensional objects. LAS’s operation uses a kind of 3D printing called wire-arc additive manufacturing, or WAAM, that involves a process Lincoln has been working with for decades, arc welding. A robot-guided electric welder melts wire that is deposited layer upon layer in a process that uses multi-axis turntables to create a piece that may take days to build.Additive manufacturing contrasts with traditional component manufacturing, where blocks of material are stamped and then machined or cut to trim excess or where liquids are poured into molds and solidify when cooled. Additive manufacturing builds materials into a finished product, which may have channels or hollowed-out cores that traditional methods couldn’t create. In Lincoln’s case, that means melting welding wire in hundreds, even thousands of layers."

 

https://www.crainscleveland.com/manufacturing/lincoln-electric-adds-its-manufacturing-skills

Expanding the small baseball museum at the League Park development seems like a great idea, especially if it concentrates on minority participation in the sport.  Kansas City has a Negro Leagues Museum, but a different take on mission in Cleveland could produce a great little niche museum, another tourist draw, snother educational opportunity, another commercial spur for Hough/Midtown.

 

https://www.bizjournals.com/cleveland/news/2022/04/27/league-park-reveals-more-details-about-renovations.html

Remember: It's the Year of the Snake

13 hours ago, Dougal said:

Will Friedman of the Port Authority was on a "What the Truck" webcast, Nice presentation. He's looking forward to a good year and mentioned liquid bulk being a new category of cargo - oleo oil for a local food processor.

 

https://tv.freightwaves.com/player/31442/stream?assetType=episodes&playlist_id=26 

 

He said the port is building liquid storage facilities for trans-shipment of the oleo oil to a local large user.  Guessing: Great Lakes Cheese in Hiram, maybe? 

Remember: It's the Year of the Snake

More from Friedman:  "We are also working to add a feeder service connecting shippers with container lines calling Halifax or Montreal. We’re also seeking to start a cargo ferry across Lake Erie to better service the robust trade between Ohio and Ontario.

On the bulk cargo side, we are building a liquid bulk, ship-to-rail transload facility and will begin servicing tanker vessels carrying food-grade oleo products later this year."

 

https://nrf.com/blog/how-ports-can-untangle-supply-chain-snarl

 

Both Friedman at the port and Kennedy at the airport have been speaking up lately.  Has the Jackson-administration muzzle been retired?

 

 

 

 

Remember: It's the Year of the Snake

what was the jackson muzzle?

4 hours ago, Whipjacka said:

what was the jackson muzzle?

Department and agency heads were seldom heard from.

Remember: It's the Year of the Snake

6 hours ago, Dougal said:

 We’re also seeking to start a cargo ferry across Lake Erie to better service the robust trade between Ohio and Ontario.

 

 

This is interesting. I wonder what port they'd "ferry to"? There really aren't any substantial Canadian ports right on Lake Erie. 

On 5/5/2022 at 1:42 PM, Dougal said:

 

He said the port is building liquid storage facilities for trans-shipment of the oleo oil to a local large user.  Guessing: Great Lakes Cheese in Hiram, maybe? 

 

Unfortunately there's no rail to Hiram anymore, unless someone is going to spend major dollars restoring the former Erie Railroad line that hosted Ohio's last commuter train, between Cleveland and Youngstown via Solon and Aurora, ending in 1977.

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

4 minutes ago, LlamaLawyer said:

https://www.crainscleveland.com/manufacturing/intels-20b-plan-has-promise-northeast-ohio-suppliers

 

I don't have Crains anymore, so can't read the article, but the headline sounds great!

 

Quote

Officials say there are 140 existing Intel suppliers in Ohio

Quote

The heaviest concentration of them — approximately 40% — is in Northeast Ohio

 

It discusses Lubrizol + Park Place Technologies along with Jergens Inc.

 

Also discussed:

- Northeast Ohio may have expansions of existing suppliers or attract new suppliers who will want to be within the state.

- Our academic institutions should embrace the branding as a chip manufacturing region

- We should woo other chip makers as we get a critical mass of specialized talent, a la Wichita, KS being "The Air Capital of the World"

There was some talk up above about potential benefits to Cleveland from Intel moving to Ohio. I thought you guys might be interested to know I saw my first evidence of that today. I was visiting Swagelok Cleveland (compression fitting, valves, etc) and they said they are building a clean room for building up tubing assemblies to the necessary specs for the semiconductor industry. Nothing huge, but this isn't a readily available capability locally now, and it's really cool to see Intel starting to have an impact. 

 

Tldr: Intel is already making an impact. 

 

Copied over from the  Ohio: General Business & Economic News thread:

 

2 hours ago, amped91 said:

Ohio mentioned as a possible destination for a Twitter HQ relocation, post Musk acquisition. Although, at this point, all of it sounds like pure speculation, it is neat to think about Twitter setting up shop here. 
 

Why Ohio might be where Twitter’s headquarters lands

 

“Twitter could mark the first high-profile headquarters search in a post-Covid world, and that might spell good news for smaller cities not usually on the short list for trophy relocations.

 

Twitter’s headquarters is considered in play as Elon Musk works to complete his acquisition of the company, with many expecting the HQ to leave California. Musk himself has recently moved to Austin and taken Tesla’s headquarters with him.

 

“Site selectors joke that Musk has been the gift that keeps on giving,” John Boyd, a principal at The Boyd Co., told me in discussing his latest research on HQ relocations and what it could mean for Twitter's search. 
 

“We see small market locations in states with superior tax climates – Florida, Nevada, Texas and Ohio – being squarely in the mix,” Boyd wrote in a story for Site Selection magazine on the prospects of a Twitter HQ search.”

 

https://www.bizjournals.com/columbus/news/2022/05/11/why-everyone-might-be-surprised-where-twitter-s-he.html

 

 

If this article is accurate, it would be great if the city of Cleveland would actively pursue this instead of doing nothing as usual and letting it go to Columbus.

 

 

On 5/5/2022 at 1:42 PM, Dougal said:

 

He said the port is building liquid storage facilities for trans-shipment of the oleo oil to a local large user.  Guessing: Great Lakes Cheese in Hiram, maybe? 

Oleo oil is used to make margerine.  What margerine manufacturers are near the rail line?

1 hour ago, telefax said:

 

Copied over from the  Ohio: General Business & Economic News thread:

 

 

 

If this article is accurate, it would be great if the city of Cleveland would actively pursue this instead of doing nothing as usual and letting it go to Columbus.

 

 

I don’t doubt city hall will be courting them, and why wouldn’t they?  Thankfully we have a new administration and shouldn’t expect to see a boondoggle like the Jackson/Pixar one either.

28 minutes ago, Foraker said:

Oleo oil is used to make margerine.  What margerine manufacturers are near the rail line?

 

The rail line in Hiram has been gone for 40 years 

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

1 hour ago, Foraker said:

Oleo oil is used to make margerine.  What margerine manufacturers are near the rail line?

1 hour ago, KJP said:

 

The rail line in Hiram has been gone for 40 years 

 

That's unfortunate, but it doesn't answer the question.

 

What margerine manufacturers ARE near the rail line?  Is the oleo oil being shipped to another state?

Nestle in Solon has a rail spur.

My hovercraft is full of eels

12 minutes ago, Foraker said:

 

That's unfortunate, but it doesn't answer the question.

 

What margerine manufacturers ARE near the rail line?  Is the oleo oil being shipped to another state?

Friedman said the oil will be for a "local" producer.  His version of local is probably northern Ohio.  FWIW, I asked on twitter for some more news on the transfer facility and he promised to tweet a story and pix. Maybe he'll tell us who the user is. 

Remember: It's the Year of the Snake

46 minutes ago, Foraker said:

 

That's unfortunate, but it doesn't answer the question.

 

What margerine manufacturers ARE near the rail line?  Is the oleo oil being shipped to another state?

 

Which rail line? You said THE rail line or do you mean ALL rail lines??

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

On 5/5/2022 at 1:42 PM, Dougal said:

 

He said the port is building liquid storage facilities for trans-shipment of the oleo oil to a local large user.  Guessing: Great Lakes Cheese in Hiram, maybe? 

 

On 5/6/2022 at 7:21 PM, KJP said:

 

Unfortunately there's no rail to Hiram anymore, unless someone is going to spend major dollars restoring the former Erie Railroad line that hosted Ohio's last commuter train, between Cleveland and Youngstown via Solon and Aurora, ending in 1977.

 

7 hours ago, Foraker said:

Oleo oil is used to make margerine.  What margerine manufacturers are near the rail line?

 

6 hours ago, KJP said:

 

The rail line in Hiram has been gone for 40 years 

 

5 hours ago, Foraker said:

 

That's unfortunate, but it doesn't answer the question.

 

What margerine manufacturers ARE near the rail line?  Is the oleo oil being shipped to another state?

 

5 hours ago, roman totale XVII said:

Nestle in Solon has a rail spur.

 

4 hours ago, KJP said:

 

Which rail line? You said THE rail line or do you mean ALL rail lines??

Ha, let’s resolve this. It was suggested that Great Lakes Cheese might be the user of the oil. They are in Hiram.  Ken said it’s too bad the old commuter rail that went just south of Hiram to Youngstown isn’t there any more, because it could serve GL Cheese (was there a spur that went north? - they are North of Hiram close to La Due reservoir). This is the same line that goes through Solon and Aurora that was proposed to be commuter rail in the ‘00s. This is also the same line that actively serves Nestle in Solon with freight rail services, and then the active tracks dead end at Harper Rd (but the RoW continues southeast). There has been recent discussion of converting east of Harper in a rails-to-trails project, which would put a big damper on my regional rail dream. 

When is the last time I-71 turned a profit?

On 10/21/2021 at 11:07 AM, Pugu said:

I haven't seen any updates either, except for this article from Oct 2020:

 

"In October 2019, Elite announced that Cleveland would be the the home of its Americas headquarters. But due to travel restrictions as a result of the Covid-19 pandemic, the group has postponed the opening of the Cleveland office and the Elite Global Conference until 2021."

 

https://www.bizjournals.com/cleveland/news/2020/10/01/cleveland-firms-join-london-business-program.html

Apparently, the Cleveland office has not opened yet. 

  • 2 weeks later...

 

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

https://finance.yahoo.com/news/intel-selects-diverse-ohio-based-222300202.html
 

Mentioned in Columbus threads, but hasn’t gotten attention here. Of the four primary contractors selected for Intel construction in New Albany, one (Northstar) is Cleveland based. Pretty good sign that the Cleveland economy will be substantially benefitted by Intel’s presence, as many here have projected.

I know it has been posted in two other threads but also wanted to post it here because it is a bigger deal for Cleveland's economy.

 

https://www.cleveland.com/business/2022/06/ford-to-build-electric-vehicle-at-ohio-assembly-plant-in-lorain-county-invest-15-billion-in-plant.html

 

If I remember right these kind of jobs usually add at least 2 additional jobs in the region for every 1 job, so this could potentially provide 5400 much needed jobs for the region.

1 hour ago, cle_guy90 said:

I know it has been posted in two other threads but also wanted to post it here because it is a bigger deal for Cleveland's economy.

 

https://www.cleveland.com/business/2022/06/ford-to-build-electric-vehicle-at-ohio-assembly-plant-in-lorain-county-invest-15-billion-in-plant.html

 

If I remember right these kind of jobs usually add at least 2 additional jobs in the region for every 1 job, so this could potentially provide 5400 much needed jobs for the region.

 

This is great to see because automotiveexpansions over the past couple years had been going to right-to-work states, except for Jeep in Toledo.  With KY, IN, and MI all seeing big jobs growth, I wondered if Ohio was "red-lined" out of the running.

Remember: It's the Year of the Snake

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