Originally Published: October 28, 2017 4:00 AM Updated: 8 hours ago

Wanted: Firms eyeing accelerated growth

By Timothy Magaw

 

Scalerator NEO, an intensive six-month bootcamp for established Northeast Ohio companies focused on rapidly increasing their growth rates, is accepting applicants for its second class — and it's not for the faint of heart.

 

"It's tough and challenging, and they don't let the companies get off easy," said Deborah Hoover, president and CEO of Burton D. Morgan Foundation, which along with the Richard J. Fasenmyer Foundation, covers the costs of the program. "It's like going back to school."

 

Hoover likens the program, which is geared toward a diverse set of companies with $5 million to $15 million in annual sales, to a "mini-MBA" that offers the "just-in time" learning business leaders need. Participants in the first cohort — a group that ranges from manufacturers, software companies to service providers — report coming away with detailed plans to achieve sales and profit growth, often in excess of 25% a year.

 

http://www.crainscleveland.com/article/20171028/news/140371/wanted-firms-eyeing-accelerated-growth

6th annual Female Entrepreneur Summit draws 300+ women, startups and businesses

Updated on October 27, 2017 at 4:59 PM Posted on October 26, 2017 at 5:40 PM

 

 

By Janet H. Cho, The Plain Dealer

 

[email protected]

 

MAYFIELD, Ohio - Convene 300 businesswomen from Northeast Ohio in a room, and many will likely rekindle friendships and reconnect with former coworkers. But when those 300 women are also established and aspiring entrepreneurs, they will also build business connections and actively expand their economic circles.

 

That's why Renee DeLuca Dolan, president and founder of Contempo Communications, not only invited women business owners to her 6th annual Female Entrepreneur Summit at the 700 Beta Banquet & Conference Center on Wednesday, she found ways to help them shine. During lunch, for example, three women chefs prepared fall harvest-themed dishes, with better-known male chefs acting as their sous chefs.

 

"Women make up 60 percent of all college graduates, 40 percent of all MBA graduates, and 52 percent of professional occupations," DeLuca Dolan said. And yet even though more than 50 percent of culinary school graduates are women, they make up less than 7 percent of the executive chef positions at leading culinary institutions.

 

http://www.cleveland.com/metro/index.ssf/2017/10/6th_annual_female_entrepreneur.html#incart_river_home

October 25, 2017 11:18 am

How Cleveland is harnessing the power of health tech innovation

By RAY LEACH

 

This week at the 2017 Medical Innovation Summit, Cleveland Clinic and JumpStart Inc.announced a three-year partnership with Silicon Valley's renowned Plug and Play Inc. to bring a new biotech and digital health innovation accelerator to downtown Cleveland.

 

Headquartered in Sunnyvale, Calif., Plug and Play is one of the world's best and largest accelerator programs. The operation has grown from the original Plug and Play Tech Center — the famous Palo Alto office space that once housed early tenants such as Google, Dropbox and PayPal — into an organization with a presence in 24 other locations across the globe.

 

Despite the overall size and scope of Plug and Play, this will be just their second U.S.-based accelerator program — putting Northeast Ohio in some rare company. And while we're extremely proud to be a partner in this effort, none of it could or would have happened without the leadership of the Cleveland Clinic — an organization that has become synonymous with our region's reputation as a growing hotbed of healthcare innovation.

 

http://www.crainscleveland.com/article/20171025/blogs05/139996/how-cleveland-harnessing-power-health-tech-innovation?CSAuthResp=1%3A%3A79879%3A24%3A24%3Asuccess%3A2C0672E9F681CD94F17ADB53AD3AE962

realestate.cleveland.com

Cleveland's bid for Amazon HQ2: Public, private players discuss process, but details are scarce

Michelle Jarboe, The Plain Dealer

8-11 minutes

 

CLEVELAND, Ohio - Twenty organizations and more than 90 people touched Northeast Ohio's bid to attract Amazon's second headquarters, a project that promises up to 50,000 jobs and a $5 billion investment over a decade, starting in 2019.

 

But nobody's saying much about the contents of that proposal, which was submitted to Seattle-based Amazon by Team NEO, a nonprofit economic-development group, last week.

 

In a meeting Monday, the private-sector representatives who shepherded the bid talked about the process and their reasons for holding back details. They wouldn't discuss sites, financial incentives, the full list of players involved or, even, the number of pages in the pitch.

 

http://realestate.cleveland.com/realestate-news/2017/10/clevelands_bid_for_amazon_hq2.html

How Cleveland is harnessing the power of health tech innovation

 

The Plug and Play joint venture seems especially promising, as is Biobank, the Clinic's NIH-funded specimen repository. Biobank should be a nice labor-intensive addition to UC/OC. The idea of another building like IBM's at E105th and Cedar is a good one.

 

http://www.crainscleveland.com/article/20171029/news/140321/cleveland-clinics-research-arm-gains-muscle

Saw that, but couldn't read or post any of the article.

I spoke with someone here in Cleveland over a week ago who had heard directly from Amazon that the Cleveland bid was more appealing than they anticipated. To me, this means one of two things:

 

1. Amazon expected us to send them a pierogi with handwritten blueprints of our proposal and were pleasantly surprised when a competent proposal arrived in Seattle, or

 

2. Cleveland really turned some heads with the mix of affordable housing, tech growth, business support, and access to land in the middle of a major metro.

 

I pray it's the latter of the two.

I spoke with someone here in Cleveland over a week ago who had heard directly from Amazon that the Cleveland bid was more appealing than they anticipated. To me, this means one of two things:

 

1. Amazon expected us to send them a pierogi with handwritten blueprints of our proposal and were pleasantly surprised when a competent proposal arrived in Seattle, or

 

2. Cleveland really turned some heads with the mix of affordable housing, tech growth, business support, and access to land in the middle of a major metro.

 

I pray it's the latter of the two.

 

Didn't Kasich say we "don't use tax incentives to buy deals"?  If so, let's be honest - 0% chance.  Negative % chance?

The state may not offer tax incentives, but the city and county certainly can and probably did.

The state may not offer tax incentives, but the city and county certainly can and probably did.

 

Oh gotcha, that makes sense. 

I spoke with someone here in Cleveland over a week ago who had heard directly from Amazon that the Cleveland bid was more appealing than they anticipated. To me, this means one of two things:

 

1. Amazon expected us to send them a pierogi with handwritten blueprints of our proposal and were pleasantly surprised when a competent proposal arrived in Seattle, or

 

2. Cleveland really turned some heads with the mix of affordable housing, tech growth, business support, and access to land in the middle of a major metro.

 

I pray it's the latter of the two.

 

My hope and expectation has been that, while Cleveland's submission may not win, it will be an attention-getter and lead to other things. Personally, I doubt Amazon's HQ2 will be anything like a co-equal headquarters; the 2 hqs model of management hasn't been too successful. There's Shell Oil and ...?

I spoke with someone here in Cleveland over a week ago who had heard directly from Amazon that the Cleveland bid was more appealing than they anticipated. To me, this means one of two things:

 

1. Amazon expected us to send them a pierogi with handwritten blueprints of our proposal and were pleasantly surprised when a competent proposal arrived in Seattle, or

 

2. Cleveland really turned some heads with the mix of affordable housing, tech growth, business support, and access to land in the middle of a major metro.

 

I pray it's the latter of the two.

 

Didn't Kasich say we "don't use tax incentives to buy deals"?  If so, let's be honest - 0% chance.  Negative % chance?

 

The "state" may not offer incentives, but Jobs Ohio (the states nonprofit economic development arm) offered an incentive package that reports said would be the same for all Ohio bids.  So I guess technically the state didn't, but yea I'm sure we did. 

I don't think Kasich was claiming that the state doesn't offer subsidies (which it clearly does), just that the state has some sort of "return on investment" standard that it won't blow through. Unlike, say, Wisconsin, apparently.

Kasich may have been suggesting that Jobs Ohio does not technically act on behalf of the state.  This notion is critical to privatizing the organization's meetings and records, which seems to be the main reason for its existence.

Progressive Insurance to create 900 new jobs in Highland Heights expansion

CLEVELAND, Ohio -- Progressive Corp. plans a $30 million expansion in Highland Heights, bringing 900 new jobs.

 

The Mayfield-based insurer, which employs about 9,000 locally, was approved for a 12-year tax credit for nearly $63 million in new annual payroll. The Ohio Tax Credit Authority today said it approved a 2.35 percent job creation tax credit. In exchange, Progressive agrees to maintain the operations for at least 15 years.

The expansion will also help retain nearly 10,000 jobs, according to Team NEO, the economic development organization focused on creating local jobs. Those retained jobs have a total payroll of about $819 million

http://www.cleveland.com/business/index.ssf/2017/10/progressive_insurance_to_creat.html#incart_m-rpt-1

NE Ohio keeps adding jobs in transit-inaccessible locations as funding for GCRTA continues to fall & urban poverty continues to rise. Perhaps we shouldn't be using public funds to put jobs in transit inaccessible sites?

I have a question: I know it varies according to a number of factors, but generally speaking how many office jobs fit into a building the size of Key Tower? And--how many total gross square feet of leasable office space does Key Tower have (gross sf, not available sf)?

The average amount of space per office worker in North America dropped to 176 square feet in 2012, from 225 in 2010, according to CoreNet Global, a commercial real estate association.

 

Key Tower leasable floor area: 1.25 million square feet. Gross square feet is 1.5 million. (Wikipedia)

Progressive, Amazon, MCPcinc, owner of United Express, land tax credits that could create 2,100+ jobs in NE Ohio.

http://www.crainscleveland.com/article/20171030/news/140501/progressive-others-mull-expansions-could-add-more-2100-jobs-ne-ohio

If Progressive put these 900 jobs downtown, it would need about 160,000 square feet. I believe several buildings that aren't being converted to non-office uses have that much space available although it may not be on contiguous floors.

If Progressive put these 900 jobs downtown, it would need about 160,000 square feet. I believe several buildings that aren't being converted to non-office uses have that much space available although it may not be on contiguous floors.

 

They announced it would be added to Highland Heights, no?

Yes. They also said they wanted to attract talented people to these jobs. So I'm having difficulty reconciling those two facts...

.@CLEKRAUT preps expansion after securing $1 million in financing.

http://www.crainscleveland.com/article/20171030/news/140496/cleveland-kraut-preps-expansion-after-securing-1-million-financing

Richey Piiparinen‏ @richeypipes

 

Another new all-time high for eds and meds jobs in Cleveland Bureau of Labor Statistics Data

 

https://data.bls.gov/timeseries/SMU39174606500000001?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true

 

https://twitter.com/richeypipes

Wow, an increase of 8,000 jobs vs the same time last year. That's the greatest year-over-year increase I can find in that chart.

^

Supersector:  Education and Health Services

Industry:    Education and Health Services

 

Does this include biotech and the biotech innovation that is going on or just educational institutions (pre-school to university) and health care providers?

If Progressive put these 900 jobs downtown, it would need about 160,000 square feet. I believe several buildings that aren't being converted to non-office uses have that much space available although it may not be on contiguous floors.

 

They aren't going to spread themselves all over the place.  Their corporate culture is very insular and that's on purpose.  This is a company that actually encourages office romances.

 

The only way they would go downtown was the way they discussed.  Their own skyscraper, with integral employees-only parking and perhaps even apartments. 

 

Had they done this, advocates of a "vibrant" downtown would be lamenting the occupation of prime space by "Fort Progressive".

Had they done this, advocates of a "vibrant" downtown would be lamenting the occupation of prime space by "Fort Progressive".[/color]

 

Maybe. But even if they had, who cares? It's better than having Progressive lining the Outer Belt.

Had they done this, advocates of a "vibrant" downtown would be lamenting the occupation of prime space by "Fort Progressive".

 

Maybe. But even if they had, who cares? It's better than having Progressive lining the Outer Belt.

 

It would be a matter of opinion.

 

But outside of CEO ego, there's very little benefit to being downtown for a company like Progressive, and in return they provide very little benefit.

 

There aren't too many secondary businesses (shops, restaurants, etc) around their HQ because their people are encouraged to stay within the campi.

Personally, I doubt Amazon's HQ2 will be anything like a co-equal headquarters; the 2 hqs model of management hasn't been too successful. There's Shell Oil and ...?

 

If anyone can make it work, it's Amazon.  Their entire business model is based on rapid transfer and distribution of information.

 

But as for the "co-equal" part, word has it unless Seattle puts some serious wear on the proverbial kneepads, HQ2 will not only be co-equal but in line to take on the pre-eminent role.  Bezos is not happy with them, to say the least.

 

I suspect Austin is in the lead, though being a state capital may be a drawback.  JB will want to go somewhere that he immediately becomes one of the town's top dogs.   

 

Cleveland has a chance.  More of one if Akron-Canton joins forces with us.

It would be a matter of opinion.

 

But outside of CEO ego, there's very little benefit to being downtown for a company like Progressive, and in return they provide very little benefit.

 

There aren't too many secondary businesses (shops, restaurants, etc) around their HQ because their people are encouraged to stay within the campi.

 

Progressive has complained about being able to find enough qualified people to work here at their HQ/campus. They have to engage in a marketing campaign to get people to come here. Considering their marketing campaign shows a lot of urban sites/amenities in it, I would have to think that a downtown location would be at least as persuasive.

From what I saw when I lived downtown (mind you this was 12 years ago), there are plenty of residents who don't mind the reverse commute.  Of course they probably wouldn't mind walking to work either....

From what I saw when I lived downtown (mind you this was 12 years ago), there are plenty of residents who don't mind the reverse commute.  Of course they probably wouldn't mind walking to work either....

 

My commute's reverse (to Mentor) and it's not bad at all when I go straight home instead of to Sagamore.  Heading south on 271 instead of east on 90 would be the same.

 

I wouldn't be surprised to see Progressive build a satellite "creative" office in a downtown, but there's no guarantee that it will be in Cleveland.  It may not even be one central location.  There's no need to do that anymore. 

 

I would be shocked if they ever move significant space into the downtown area, or for that matter any other property they don't control.

I am all for moving workers downtown. But other than "attracting talent", I honestly don't know what concrete motivation Progressive would have for doing so

Cleveland companies use downtown locations as recruiting tool

 

Downtown Cleveland is attracting an increasing number of businesses, and those businesses are using their location in downtown Cleveland to attract new employees.

 

A 2016 study completed by Smart Growth America in partnership with Cushman & Wakefield illustrated that companies throughout the country are abandoning suburban locations and moving into vibrant downtowns.

 

https://www.bizjournals.com/pittsburgh/news/2017/11/01/cleveland-companies-use-downtown-locations-as.html

What an embarrassing mayor we have, eclipsed in his buffoonery by his challenger...

 

Cleveland's claim to Amazon's HQ2

https://www.cnbc.com/video/2017/11/03/clevelands-claim-to-amazons-hq2.html

Ouch. That was painful to watch. He sounds like the mayor of some small town in Mississippi.

What an embarrassing mayor we have, eclipsed in his buffoonery by his challenger...

 

Cleveland's claim to Amazon's HQ2

https://www.cnbc.com/video/2017/11/03/clevelands-claim-to-amazons-hq2.html

 

I’m unsure why you say this... this is actually the most impressed I’ve been with him in a national interview, and in the face of constant “you really think you have a chance” and “we graded you an F in two categories.”

 

He represented Cleveland with a “well **** you sir, we’re going to succeed” attitude to somewhat loaded, negativity implied questions.

Edale got it.

I am not sure what the purpose of this interview was.  Obviously the reporter was doubting any bid from Ohio as unlikely. Between The Plain Dealer and CNBC asking why the privacy to their bid, I believe this turns off Amazon from seeing Cleveland as it's potential HQ2.  I hope I am wrong and that Cleveland is awarded the prize.

So Frank Jackson is an embarrassment to the city because his accent? Small town in Mississippi?C'mon guys, step back and think about what you are saying here.

So Frank Jackson is an embarrassment to the city because his accent? Small town in Mississippi?C'mon guys, step back and think about what you are saying here.

 

No because he couldn't tout some of the city's tech and stability attributes. Ironically, one of the stability attributes is himself, serving as mayor for 12 years as probably for another four. He couldn't even tout himself, let alone that the city has a number of new and growing technology companies that are spinoffs from Cleveland Clinic as well as numerous growing software firms in the metro area, some of which have moved downtown to foster a more collaborative tech setting. How hard was it for him to say that? I wanted him to give me a glimpse of why Amazon should come to Cleveland. Instead he told me why it shouldn't. And yes, he sounds more like my backwoods uncle than an energetic leader from a low-cost, amenities-laden, turnaround metropolis that deserves a tech Goliath like Amazon.

 

 

November 09, 2017 12:13 pm      UPDATED 4 HOURS AGO

CoverMyMeds plans 'hundreds' of hires, including some in its Highland Hills office

By SCOTT SUTTELL

 

Health care technology company CoverMyMeds, which was acquired this year for $1.1 billion by San Francisco-based McKesson Corp., is entering a growth spurt.

 

CoverMyMeds is hiring "hundreds" of people to add to its offices in Columbus and Cleveland, said Brian Rutkowski, director of talent acquisition for the company. Doctors and other prescribers use the company's software to electronically ask insurance companies whether a patient's medication is covered.

 

Rutkowski didn't put a specific number to the planned hires, nor did he break down how many will be in Columbus — the company's main base of operation — and how many will be at the Cleveland-area office in Highland Hills.

 

MORE:

http://www.crainscleveland.com/article/20171109/news/141786/covermymeds-plans-hundreds-hires-including-some-its-highland-hills

The Bureau of Labor Statistics nuggets:

 

The BLS said for the first quarter of 2017, Cuyahoga County employment, year over year, was up slightly (0.1%) but average weekly earnings were up 6.7%  to $1,114, slightly exceeding the national average increase.  It's not earth-shattering, but it's progress. Other Ohio counties exceeded Cuyahoga's earnings growth rate, but only Hamilton exceeded the dollar amount. 

 

For the year through September, county employment is up 1.1%, which is less than half the rate of the other two C's but better than it sounds since Cuyahoga is still supposed to be losing population.

Plug and Play's biotech bet on Cleveland affirms city's innovation status: editorial

Updated 12:15 AM;

Posted 5:58 AM

By Editorial Board

 

The Cleveland Clinic and JumpStart's recently announced three-year biotech partnership with Plug and Play, one of the world's biggest startup accelerators, is a smart way to entice up-and-coming biotech and digital health companies to our biotech-rich region -- along with the venture capitalists and corporations who love them.

 

Silicon Valley's Plug and Play Tech Center is already in 22 locations and four countries -- yet the company picked Cleveland for its first biotech bid. That should make our sweet spot sweeter. Plug and Play has created an enviable business model for how to match emerging businesses nationally and internationally to venture capitalists, and enrich both. In this case, they're aiming at established biotech companies hungry for innovations to keep their competitive edge.

 

MORE:

http://www.cleveland.com/opinion/index.ssf/2017/11/biotech_accelerator_could_put.html

Bank of the West sees region as growth 'zone'

 

As San Francisco-based Bank of the West looks to fill in some of the Midwest gaps in its U.S. footprint, it sees opportunities to lead that charge through its new Cleveland commercial banking hub.

 

"There is much more diversity of industry than there was before. Health care was hardly even on the radar 25 years ago. Industrial is doing as well as it's done in the last two decades," Dannemiller said. "The specialty sectors in transportation and the growing service economy and the remake of downtown and investments there ... I think it's as healthy here as it's ever been."

 

That's why the bank has planted itself in Northeast Ohio today.

 

http://www.crainscleveland.com/article/2017-west-sees-region-growth-zone

Healthy as it's EVER been? Someone needs a history lesson.

I probably should have posted this for context.

 

"Economically speaking, Dannemiller said the Cleveland region is doing better than he has seen since 1992, when he became ingrained in this market."

Per my source in Seattle, whom I saw over the Holiday weekend -

 

About 1/3 of the cities that sent in their information to Amazon will be considered in the second round. This will likely include visits from Amazon staff. Cleveland is likely to make the cut to the second round.

 

If this is true, and I am fairly confident in my cousin (my "source" lol), then this is big for Cleveland. I've often said, the hardest part about getting people to love Cleveland is simply getting them to see it.

Sale price on Residence Inn Cleveland Downtown: $39.6 million. Per Crain's,  "Noble, which held the property through NF II Cleveland LLC, paid $15.4 million for it in February 2014." Not sure $15M represents the full compensation, but if so.....

 

If the value went up from $15M to $40M in less than 4 years, then Cleveland must be really hot!