August 27, 20186 yr Cleveland in a nutshell. "Apathy among the wealthy and powerful" is kind of a surprise, since one the the good things about Cleveland (agreed upon by the City Club panel) was the enormous philanthropic support that city causes receive. Remember: It's the Year of the Snake
August 27, 20186 yr Why is the assumption that "city leadership" is a political matter? Leadership isn't relegated to political leadership but business leadership as well. One can argue that the business community, namely the Greater Cleveland Partnership but other groups as well, are as much to blame for a stagnant economy as anyone. Perhaps we all need to broaden our definitions. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
August 28, 20186 yr An index tied to house prices in the #CLE metro area is approaching its pre-recession peak after 12 years of lagging, according to this morning's Case-Shiller report. http://realestate.cleveland.com/realestate-news/2018/08/house-price_growth_accelerates.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 5, 20186 yr See home values by neighborhood in your town: Cuyahoga County reappraisal 2018 https://www.cleveland.com/expo/news/erry-2018/09/39f428cbca3965/see-home-values-by-neighborhoo.html#incart_2box "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 5, 20186 yr Directional Aviation, Kenn Ricci's $2.5 billion private company based at the county airport, has acquired PrivateFly of the UK and is combining its biz charter operations inder the name OneSky. http://www.crainscleveland.com/transportation/directional-aviation-cleveland-buys-uk-firm-privatefly Remember: It's the Year of the Snake
September 6, 20186 yr The staff editorial discusses more than just Cleveland Clinic's impact.... Beyond the Cleveland Clinic's No. 2 ranking is health care's growing importance for NE Ohio: editorial https://www.cleveland.com/opinion/index.ssf/2018/09/beyond_cleveland_clinics_no_2.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 6, 20186 yr Does anyone if this Cleveland-headquartered company invests in Cleveland? If so, what are some of their projects? N.Y. Affordable Housing Developments Receive Financing Bellwether Enterprise provides $34 million to three deals. https://www.housingfinance.com/finance/n-y-affordable-housing-developments-receive-financing_o "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 6, 20186 yr Does anyone if this Cleveland-headquartered company invests in Cleveland? If so, what are some of their projects? There is a Cleveland connection with Bellwether's parent organization mentioned in this: https://www.cleveland.com/metro/index.ssf/2017/12/housing_first_announces_coalit.html Remember: It's the Year of the Snake
September 6, 20186 yr Enterprise is one of two big national "intermediaries" which funnel capital into affordable housing and community development projects around the country, including in Cleveland. I didn't know about Bellweather, but it's good to hear Enterprise has some of its servicing team stationed in Cleveland. There's a bit of an affordable housing industry cluster in Cleveland.
September 8, 20186 yr There's a good interview in Crain's Cleveland with Lisa Vo, evp of the I-X Center. She mentioned that I-X produces its own shows aimed at the general public to fill (profitably) the gaps between more traditional conventions and expositions. I was wondering why the county facilities downtown couldn't do this to eliminate their smallish operating losses. Is there a legal prohibition against the Huntington Center/Global Center for etc. doing this, i.e. competing with private business? http://www.crainscleveland.com/real-estate/qa-lisa-vo-executive-vice-president-international-exposition-i-x-center Remember: It's the Year of the Snake
September 10, 20186 yr See home values by neighborhood in your town: Cuyahoga County reappraisal 2018 https://www.cleveland.com/expo/news/erry-2018/09/39f428cbca3965/see-home-values-by-neighborhoo.html#incart_2box I guessed right, that little stretch in Maple near Walton Hills is Longvale, the houses there were built in the 80s or 90s. Everything else is from the 50s. But what the bleep on the design of that page? Loading the whole thing instead of hyperlinking each town? Not only is it cumbersome they get fewer hits.
September 10, 20186 yr An economic indicator? September 09, 2018 04:00 AM UPDATED 2 HOURS AGO CBRE Group adds jobs to keep up with growth STAN BULLARD CBRE Group Inc. is in expansion mode in Northeast Ohio. When it comes to a company that already dominates the region's commercial real estate brokerage and real estate services marketplace by any measure, according to data from the CoStar online real estate reporting service, it makes waves. CBRE's Cleveland and Akron offices have added a total of more than a dozen professionals so far this year, according to David Browning, the CBRE managing director who oversees both offices. "These are all additional positions due to the growth of our practice," Browning said in an interview. MORE: http://www.crainscleveland.com/real-estate/cbre-group-adds-jobs-keep-growth "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 11, 20186 yr Jakprints leaving CLE for the burbs. http://www.news-herald.com/general-news/20180907/jakprints-moving-into-former-eastlake-walmart
September 11, 20186 yr I'm surprised they didn't mention the address of their Cleveland location.... 3133 Chester Ave. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 11, 20186 yr ^^Without knowing the details (although reading between the lines I would imagine they are going to be paying practically nothing in rent) I am surprised a company like this would be looking to relocate in the burbs. I used them once for a pretty large job (they do great work) and they gave off such a hip urban vibe that I felt uncomfortable sitting in the reception area. I note in the article they are holding a job fair in conjunction with their relocation. I wonder if they lost a fair number of employees who had no interest in relocating to Eastlake or even actually know where it is.
September 11, 20186 yr Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building. We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.
September 11, 20186 yr Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building. We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world. It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away.
September 11, 20186 yr Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building. We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world. It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away. Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there. My hovercraft is full of eels
September 11, 20186 yr Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building. We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world. It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away. Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there. Standard practice for them.
September 11, 20186 yr I've used Jakprints a few times; I'll probably never use them again given this move out of the city. Hot Cards is at 24th & Superior. I'll go there from now on.
September 11, 20186 yr I note in the article they are holding a job fair in conjunction with their relocation. I wonder if they lost a fair number of employees who had no interest in relocating to Eastlake or even actually know where it is. I suspect you're right on this.
September 11, 20186 yr Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building. We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world. It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away. Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there. Standard practice for them. I actually grew up in Eastlake and can provide a little history on this. The building that Jakprints is moving into is actually the second Walmart building in that approximate location. Originally, there was a smaller Walmart in the same lot that was perpendicular to the building there now and more aligned with the other shops in that plaza. Some time in the 2000s I believe they tore down the old building and built the one that sits empty now. The big building that is 30 yards away used to be a K-Mart, and my dad was convinced that Walmart built their new building that way in order to "choke off" K-Mart from the rest of the plaza because Walmart had designs on the building. I think that's a little silly considering you can still easily get to the other building without leaving the plaza, but evidently they did have designs on the building because as soon as the K-Mart went under they bought the building and converted it into an even bigger Walmart Supercenter and just left their old building sitting empty for years.
September 11, 20186 yr September 11, 2018 01:26 PM 3 HOURS AGO Align Capital buys Cleveland's Predictive Service, merges it with Lewellyn Technology JEREMY NOBILE Align Capital Partners has acquired Cleveland-based enterprise asset management firm Predictive Service, merging it with its Indianapolis-based portfolio company Lewellyn Technology. Terms of the deal were not disclosed. Predictive's main product is ViewPoint, a proprietary enterprise asset management platform that provides data collection and analysis for customers' maintenance and repair needs. The software allows plant managers to prevent equipment failure and manage energy and cost-saving efforts in real time, according to the firm. Founded in 2002, Predictive has offices in Hong Kong and Boston in addition to its Cleveland headquarters. The firm is privately held but was listed on the Inc. 5000 fastest-growing companies in 2014 (at No. 2,994) after recording 2013 revenues of $14.2 million, a 120% increase at that time over 2010. The firm had 118 employees at that time. It has about 103 today. MORE: http://www.crainscleveland.com/finance/align-capital-buys-clevelands-predictive-service-merges-it-lewellyn-technology "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 12, 20186 yr Author Looking at the BLS statistics, as long as we don't enter a recession Cleveland should break back into 2002 recession levels (the good news). The sobering news is that we've lost 2 decades of growth from the 2002 recession, the 2008 recession, then the long (ongoing) restructuring of our economy and recovery. We've had an uptick in manufacturing during the Trump administration, up over 5% year-over-year, which is helping push the overall employment numbers. Hopefully the growth in the overall local economy continues.
September 12, 20186 yr It's not monumental, but my son's small business did a cost analysis and moved their receiving, warehousing, and shipping functions from suburban Wash DC (Hyattsville, MD) to Cleveland. Remember: It's the Year of the Snake
September 12, 20186 yr Tell all your friends! Come to Cleveland! :) "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 12, 20186 yr Another large local company may be bought out in 2021. Stanley Black & Decker buys a 20% stake in MTD, with an option on the remaining 80% in 2021. https://www.prnewswire.com/news-releases/stanley-black--decker-to-acquire-20-percent-stake-in-mtd-products-for-234-million-300710830.html Stanley Black & Decker To Acquire 20 Percent Stake In MTD Products For $234 Million NEW BRITAIN, Conn., Sept. 12, 2018 /PRNewswire/ -- Stanley Black & Decker (NYSE : SWK ) today announced that it has entered into a definitive agreement to acquire a 20 percent stake in MTD Products Inc ("MTD"), a privately held global manufacturer of outdoor power equipment, for $234 million in cash. Under the terms of the agreement, Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021. Stanley Black & Decker's President and CEO James M. Loree commented, "This investment in MTD increases our presence in the $20 billion global lawn and garden market in a financially and operationally prudent way. We have always viewed outdoor products as an attractive growth category for us to expand our presence beyond handheld electric products. This transaction gives us the opportunity to do that with a world class partner. MTD has a first-rate management team, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them." "MTD and Stanley Black & Decker are both proven leaders in our respective industries with iconic brands and world class capabilities," said MTD's Chairman and CEO Robert T. Moll. "We're both passionate about innovation with complementary businesses. Ultimately, this will give us more resources to bring really exciting products to our consumers." With 2017 revenues in excess of $2 billion, MTD manufactures and distributes lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment for both residential and professional lawn and garden customers. Founded over 85 years ago and headquartered in Valley City, Ohio, MTD's brands include Cub Cadet, Troy-Bilt, and Remington, among others. MTD has state-of-the-art manufacturing facilities in North America, Europe and Asia, and a global distribution network. ...
September 14, 20186 yr The Global Center's current occupancy rate is 85%, and is expected to grow even higher. The 80% figure that was thrown around earlier on here was before Plug&Play, UPS, and Starbucks leased space. It was also before Au Bon Pain, a bakery and cafe doubled in size. The Global Center for Health Innovation has landed its first startup tenant. Cleveland-based TPA Stream, a health insurance administration software company, plans to move into 4,500 square feet within the Global Center. The move is a win for BioEnterprise Corp.: The health care-focused economic development organization aims to turn the downtown Cleveland facility into "an active innovation center" where health care providers, companies and investors can work together on big problems, BioEnterprise CEO Aram Nerpouni stated in a news release announcing TPA Stream's move http://www.crainscleveland.com/technology/global-center-health-innovation-lands-first-startup-tenant-tpa-stream
September 15, 20186 yr September 13, 2018 03:01 PM Manufacturing operation planned for East Side of Cleveland JAY MILLER A Washington, D.C., financial consultant who was born in Cleveland's Glenville neighborhood has formed a business to manufacture products from hemp in his old neighborhood. Ty Williams, CEO of Level 5 Global Consulting Group, is leading a group that has incorporated North Coast Natural Solutions LLC and plans to operate the company in an aging, four-story plant on Kirby Avenue that, he said, will employ 650 people beginning in June 2019. Williams said he has raised $46 million from private investors, whose names he could not disclose. But it is enough, he said, to get the business off the ground. He said he is continuing to raise money for what he sees will ultimately be a $136 million investment. http://www.crainscleveland.com/manufacturing/manufacturing-operation-planned-east-side-cleveland
September 15, 20186 yr Beautiful. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 15, 20186 yr This smells like a half baked plan unlikely to go anywhere, but hope I'm wrong. From the Cleveland.com article, we might learn soon if there's real juice behind this: A partner, which Williams said was "a major publicly traded company in the hemp space," will be announced Friday. https://www.cleveland.com/open/index.ssf/2018/09/hemp_manufacturing_facility_pl.html#incart_2box_business
September 15, 20186 yr Is it legal to do hemp products now? Crains says in the article it's long been illegal, but mentions nothing about current legal status. Edit- PD article explains it.
September 19, 20186 yr Author Cleveland economy outperforms Cincinnati, Columbus in 2017 Cleveland’s economy grew more than Cincinnati’s and Columbus’ last year,, according to data released Tuesday by the federal Bureau of Economic Analysis. The data show Cleveland has the largest economy of the state’s metro areas and the 28th largest in the nation. The Cleveland area has benefited from a comeback in manufacturing. Last year’s growth also was driven by a strong increase in mining and natural resources industries. The Cleveland economy grew by 2.9 percent last year and was valued at $140 billion. The Cincinnati economy increased by 2.4 percent in 2017 to $138 billion and the Columbus economy was up 2.1 percent to $136.3 billion. Overall, Cincinnati had the 29th largest economy and Columbus was 30th, according to the analysis, which seeks to measure the total value of goods and services in an area. http://www.dispatch.com/news/20180918/cleveland-economy-outperforms-cincinnati-columbus-in-2017 Looking at the numbers from the BLS, as long as the trajectory continues Cleveland will be close to finally getting where we were in 2002 within the next few years, quite possibly by 2020 if not 2021. If that happens, we may see a small rebound in population within the inner city. Cleveland's 2002 population was around 480,000 though there were parts of the east-side which were beginning to empty out even back then. Though we've continued to sprawl since then, younger folks are drawn to real urbanism which bodes well for the city in the future. Also- I'm in Euclid currently and I've been noticing some out of town plates from Virginia and New York here a bit just as many have seen on the west-side and in Lakewood. And just like you guys, I think it's due to the growing local economy. Just a heads up from the east!
September 20, 20186 yr Channel 5 Story on Cleveland Economy. https://www.news5cleveland.com/news/local-news/oh-cuyahoga/cleveland-economy-outperforms-cincinnati-columbus-in-2017
September 21, 20186 yr August numbers published: Cleveland 27k jobs year over year gain. Cleveland-Akron-Canton 35k jobs gained. http://ohiolmi.com/asp/CES/CES_GET.asp
September 21, 20186 yr Author 35k jobs gained for a region of 3.5 million people in a year... not too bad :-)
September 21, 20186 yr 35k jobs gained for a region of 3.5 million people in a year... not too bad :-) When you remove the number of people who are seniors and minors that number looks even better!
September 24, 20186 yr Author New BLS preliminary numbers are out... the August year-over-year employment increased by 2.5% with the most employed in the region since the 2001 recession.
September 24, 20186 yr New BLS preliminary numbers are out... the August year-over-year employment increased by 2.5% with the most employed in the region since the 2001 recession. Does that include the 2,000ish jobs that Amazon is bringing, or is that still to be added?
September 24, 20186 yr Author ^Honestly I don't know, though I doubt if they've been added yet. The Euclid site is still under construction. Does anyone know if the North Randall site is up and running yet?
September 24, 20186 yr ^Honestly I don't know, though I doubt if they've been added yet. The Euclid site is still under construction. Does anyone know if the North Randall site is up and running yet? Because if 2,000 is yet to be added, we will be looking at some really good numbers down the pipe
September 24, 20186 yr ^^I drive by North Randall often...looks like they are still doing work to the building. Cant imagine they have begun
September 24, 20186 yr ^Honestly I don't know, though I doubt if they've been added yet. The Euclid site is still under construction. Does anyone know if the North Randall site is up and running yet? Because if 2,000 is yet to be added, we will be looking at some really good numbers down the pipe Those jobs have not been added to the total. Data is based on actual numbers. This isn't a forecast.
September 24, 20186 yr New BLS preliminary numbers are out... the August year-over-year employment increased by 2.5% with the most employed in the region since the 2001 recession. As the economic growth of the region is tied to population growth, I think we should just note that the last time the Cleveland region grew in population was roughly 1991-1998. Seeing how the population decline over the last 5-8 years has been slowing down, we should see an increase at least at the MSA and CSA levels.
September 24, 20186 yr Author ^Yep, which is why it's exciting and relieving to see employment numbers continuing to rebound into positive territory over the last 20 years.
September 24, 20186 yr ^Yep, which is why it's exciting and relieving to see employment numbers continuing to rebound into positive territory over the last 20 years. I know we're getting ahead of ourselves and maybe this conversation should be continued in the population thread, but is there a formula used to estimate how much population may be added per job added? Is it 1:1 or 1:5 to one, etc.?
September 24, 20186 yr Victory Capital buys another $12 billion asset manager. I'm sure the top management of the new sub will stay in NYC, but the back office will move to Cleveland (Brooklyn). http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20180924:nGNXwrcSl Remember: It's the Year of the Snake
Create an account or sign in to comment