October 22, 20195 yr https://finance.yahoo.com/news/these-are-the-cities-with-the-highest-and-lowest-wage-growth-according-to-pay-scale-105250957.html Good to see wages going up in the Cleveland metro and planting our flag near the top mixed in with tech meccas. Edited October 22, 20195 yr by Sapper Daddy
October 22, 20195 yr Now we sit back and wait for the local media to pick up this list with its positive story and promote it, right? ? (Maybe / hopefully I'll be pleasantly surprised.)
October 22, 20195 yr On 10/3/2019 at 3:59 PM, KJP said: Cool. Buy 'em and move downtown! ? I worked in that industry, in fact I interviewed at PolyOne. You don't want the manufacturing plant downtown, and it's pretty much unheard of to have a separate headquarters facility that includes none.
October 22, 20195 yr 8 hours ago, Htsguy said: This same topic came up in this thread about a month ago and people seemed not to be able to grasp the point then and it continues now, KJP is saying that only two companies packed up and left Greater Cleveland. He is not including companies that moved to the suburbs or those that moved due to mergers or acquisitions (for example Office Max). In my mind I think it is only one (Diamond) although KJP includes BP because the move happen well after the merger (although I think the move what clearly going to happen eventually). And like KJP said this discussion is better suited for the Cleveland economic thread as I can see this thread zipping far off topic again It is starting to get like the Cincinnati Street Car thread back in the day. One could also say Nestle USA, who moved because the new CEO was from Carnation and didn't want to move here from LA. But the irony there is the HQ moved here when a new CEO (BIggars) came from Stouffers and didn't want to move to NYC.
October 23, 20195 yr ^ i would not count subsidiary offices like nestle or bp as headquarters, that is cheating. its loosening the term, kind of like they do nowadays in retail with so-called flagship stores. that used to mean the original hometown store, but not anymore, now everyone gets one.
October 23, 20195 yr I would count them. Their jobs are numerous and they pay just as well. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 24, 20195 yr On 10/22/2019 at 9:45 AM, KJP said: I'm pretty sure BP America was. This article states that BP, after acquiring Sohio in 1986, kept its BP America president officed in Cleveland until 1997 when he moved to New York. The acquisition of Amoco came a year later. The decline of Sohio's HQ staffing under BP America fell from 5,500 in 1986 to 1,000 by the time the Amoco buy was announced in 1998. https://www.chicagotribune.com/news/ct-xpm-1998-08-16-9808160403-story.html On 10/22/2019 at 9:45 AM, KJP said: I'm pretty sure BP America was. This article states that BP, after acquiring Sohio in 1986, kept its BP America president officed in Cleveland until 1997 when he moved to New York. The acquisition of Amoco came a year later. The decline of Sohio's HQ staffing under BP America fell from 5,500 in 1986 to 1,000 by the time the Amoco buy was announced in 1998. https://www.chicagotribune.com/news/ct-xpm-1998-08-16-9808160403-story.html That is wrong. there were about 2500 people left and there was no way in hell we only had 10 floors. Now sending people to various other parts of the World did happen. I spent two years on London and if the merger didn't happen I would have been there longer. At the same time, there were a lot of Brits, Germans, Hungarian, Polish, Turk, Finnish, Australian (a majority of Clevelanders were sent there), Saudi, Iraqi, French, Italian, Russian, Kuwaiti, Canadian, Mexican, Venezuelan, Chinese (I knew people who had spouses at the Cleveland clinic) here in Cleveland.
October 27, 20195 yr Interesting lists of Cleveland-Mentor and Akron area's fastest growing companies. One of these is moving to downtown Cleveland. Any others possible? Cleveland-Mentor metro https://www.inc.com/inc5000/2019/top-private-companies-2019-inc5000.html?metro=cleveland&cid=profile500016-honorlist-metro Akron area https://www.inc.com/inc5000/2019/top-private-companies-2019-inc5000.html?metro=akron-oh BTW, I've heard Garland Co. is growing quickly. That's great to see that this 19th-century firm, which has been located on East 91st for about as long, has hit another gear thanks to its sale staff and is on its way to becoming possibly a billion-dollar business. As a Google review notes, there is no overnight parking at its East 91st headquarters! But the fastest growing company in Greater Cleveland, and the 9th-fastest growing in the USA at 12,595% revenue growth over three years, is Providence Healthcare Management of Woodmere, which operates skilled nursing facilities. That percentage growth is all the more impressive considering this is not a small company, with revenues of more than $225 million last year. Other fast-growing companies in Cleveland-Akron region that surpassed $100 million in revenue last year.... + WMK/Mobility Works of Richfield retrofits minivans and rents/leases/sells them to handicapped customers. It grew 115% in the last three years, reaching $514 million in revenue last year. It is now an 14-time Inc. top-5000 fast-growing honoree. + LeafFilter Gutter Protection of Hudson yielded $340 million in revenue last year and grew 287% in the last three years. It is now an eight-time Inc. top-5000 fast-growing honoree. + CrossCountry Mortgage, currently HQ'd in Brecksville but moving downtown soon, reached $333 million in revenues last year and grew 202% over the past three years. It has ranked in six of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + Park Place Technologies, an IT firm in Mayfield Hts that's now a $218.4 million firm and grown 149% in the past three years. It has now ranked in seven of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + ExactCare Pharmacy, located at Rockside and Canal roads in Valley View. They're a $203 million revenue company last year, and have grown 71% percent in the past three years. + Union Home Mortgage in Strongsville, with $155 million in revenue last year and 125% growth in revenues the past three years. + Echo Health of Westlake, with $148 million in revenue last year has grown 126% in the last three years and has ranked in seven of Inc.'s top 5,000 annual rankings of the fastest-growing firms. + Universal Windows Direct of Bedford Hts grew 489% in the past three years to reach $106 million in revenue last year. + TalentLaunch, a human resources firm in Independence, achieved $105 million in revenues last year for an 85% growth rate in the past three years. It is a seven-time Inc. top-5000 fast-growing honoree. Greater Cleveland can try to lure employers here. But it became an industrial giant by organically growing its local businesses. These are some of the employers who could help achieve a renewed economic growth. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 27, 20195 yr ^These are the companies that should be getting incentives and Grant's from the City/County/State if they're not already!
October 28, 20195 yr COLUMBUS, Ohio — The London Stock Exchange has planted a flag in Cleveland, picking the city to host the North American headquarters for its international business-development initiative. The headquarters for the London Stock Exchange Group’s Elite initiative, which trains small and medium-sized companies to help them grow, is expected to open sometime early next year, officials announced Monday. https://www.cleveland.com/open/2019/10/cleveland-chosen-for-london-stock-exchange-programs-north-american-headquarters.html
October 28, 20195 yr 26 minutes ago, Mov2Ohio said: COLUMBUS, Ohio — The London Stock Exchange has planted a flag in Cleveland, picking the city to host the North American headquarters for its international business-development initiative. The headquarters for the London Stock Exchange Group’s Elite initiative, which trains small and medium-sized companies to help them grow, is expected to open sometime early next year, officials announced Monday. https://www.cleveland.com/open/2019/10/cleveland-chosen-for-london-stock-exchange-programs-north-american-headquarters.html Any finance guys/gals that can speak to if this is significant or primarily nominal?
October 28, 20195 yr 40 jobs to be created with this headquarters. https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b
October 28, 20195 yr Just now, simplythis said: 40 jobs to be created with this headquarters. https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b https://www.wkyc.com/article/news/local/cleveland/british-subsidiary-hq-cleveland/95-e4de2f04-b1d3-4b97-884f-4024f3274e0b
October 28, 20195 yr Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 28, 20195 yr Even the 40 jobs is nothing to sneeze at. These will be decent paying jobs and further development of finance. It seems the Cleveland region has a good amount of business lending employment. This will build on that.
October 28, 20195 yr I could see a lot of synergy if they are located in Tower City in the midst of all the startup activity
October 28, 20195 yr Anyone know where they are going to be putting these new offices? I'm surprised that wasn't part of the new announcement.
October 28, 20195 yr 10 minutes ago, KJP said: Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. I just hope they transplant some people from London - those accents are quite lovely
October 28, 20195 yr 7 minutes ago, YABO713 said: I just hope they transplant some people from London - those accents are quite lovely As long as they're from Yorkshire and not some Cockney from East London. ? Edited October 28, 20195 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 28, 20195 yr 1 hour ago, MuRrAy HiLL said: We demand a direct Cleveland to London flight !!! ? Its interesting that they didnt choose a city with direct London flights. Maybe not as important as one is led to beleive
October 28, 20195 yr 19 minutes ago, B767PILOT said: Its interesting that they didnt choose a city with direct London flights. Maybe not as important as one is led to beleive Or they don't expect that much travel back and forth
October 28, 20195 yr 1 hour ago, KJP said: Like anything else, the "big-dealness" of this announcement depends on how this plays out over time....ie: what companies are blessed with capital resources and what they do with them. If locally based companies win capital, hire lots of people here and the company/jobs stay here, then I'd say its a win. I have no idea, how big has Alexander Mann gotten in Cleveland?
October 28, 20195 yr The PD is so incompetent, they keep downgrading the news while thinking they're reporting something great. The LSE announcement is for the AMERICAS----that's North and South America---that's a really really really big deal. It means the LSE won't be opening up shop in Mexico City or Sao Paulo (the New York of south america), but instead do all those deals from Cleveland. But the PD keeps calling it "North America". I think they don't understand what "Americas" means or that they think "North America" is a bigger deal the full hemisphere.
October 28, 20195 yr 28 minutes ago, Pugu said: I have no idea, how big has Alexander Mann gotten in Cleveland? I dunno know, but this map always males me smile, to see Cleveland on the list with some true Global cities. http://alexandermannsolutions.com/global-locations Same with Plug and Play: https://www.plugandplaytechcenter.com/locations/
October 28, 20195 yr https://www.crainscleveland.com/breaking-news/london-based-company-picks-cleveland-north-american-headquarters The Crains article does not reveal the exact location but does say it will be downtown: "The London Stock Exchange Group's Elite, formed in 2012 and currently working with 1,200 businesses in 43 countries, will locate in downtown Cleveland in 2020. The subsidiary of the London Stock Exchange is an international business support and capital-raising company aimed at helping small and midsize enterprises (SME). It selected Cleveland as the headquarters site after a three-day visit in September 2019."
October 28, 20195 yr 1 minute ago, mrclifton88 said: https://www.crainscleveland.com/breaking-news/london-based-company-picks-cleveland-north-american-headquarters The Crains article does not reveal the exact location but does say it will be downtown: "The London Stock Exchange Group's Elite, formed in 2012 and currently working with 1,200 businesses in 43 countries, will locate in downtown Cleveland in 2020. The subsidiary of the London Stock Exchange is an international business support and capital-raising company aimed at helping small and midsize enterprises (SME). It selected Cleveland as the headquarters site after a three-day visit in September 2019." My bet is CityBlock. No insider info. Just seems to fit. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 28, 20195 yr 3 hours ago, KJP said: As long as they're from Yorkshire and not some Cockney from East London. ? What? You don't want to hear "Shoine ya shooze, guvnahhh?" whilst walking through Public Square?
October 28, 20195 yr Jack Casino Sale/Leaseback. https://www.wkyc.com/article/news/local/cleveland/jack-cleveland-casino-and-jack-thistledown-racino-sold-to-vici-properties-for-843-million/95-e52046b3-d53b-4e4a-aaa9-6ffda8f099c7
October 28, 20195 yr 2 hours ago, bjk said: Or they don't expect that much travel back and forth But even some travel would indicate that a connection is of no problem to them
October 29, 20195 yr Found them on Twitter: https://mobile.twitter.com/_ELITEGroup_/status/1188784972813000704 Edited November 4, 20195 yr by MuRrAy HiLL
October 29, 20195 yr I think what is encouraging about the job creation tax credit that three Cleveland companies received is not the number of jobs created (although 447 is great), but the total payroll the jobs will bring in (41.6 million or ~93k per job). https://www.crainscleveland.com/government/three-cleveland-companies-receive-state-tax-credits-new-projects Edited October 29, 20195 yr by cle_guy90
October 29, 20195 yr That's great news. These are technology companies so hopefully the positions are in software and R&D. Brightedge Technologies Inc - 9 year, 2.085% for 147 new full time employees eResearch Technology Inc. - 8 year 2.17% credit for 100 new full-time employees, generating $7 million in new annual payroll. OnShift Inc. - 7 year 1.289% credit for 200 new full time employees adding $19.5 million in annual payroll
October 29, 20195 yr Cross-posting here... Hi guys and gals - I'll start off by making all necessary disclaimers. First, I will be speaking at the below event. Second, UrbanOhio isn't sponsoring or sanctioning it. Having said that - I thought it might at least be of interest to many of you. As I said, I'll be speaking to the Cleveland Engineering Society on November 19th regarding cyber threats currently facing the construction and manufacturing industries. I promise, I'm not trying to pimp myself out here, rather, just thought I would let everyone know, as I suspect there will be a decent cross-section of industries represented, which may present valuable networking in addition to whatever modest information I may bring to the table. If you want to or intend on coming, please let me know and I'll be sure to come talk to you before or after. Again, sorry if this comes off as shameless self-promotion, just figured some of the industry-relevant professionals on here may be interested. https://www.cesnet.org/EVENTS#id=165&cid=1275&wid=501&type=Cal
October 31, 20195 yr On 10/29/2019 at 2:11 PM, YABO713 said: Cross-posting here... Hi guys and gals - I'll start off by making all necessary disclaimers. First, I will be speaking at the below event. Second, UrbanOhio isn't sponsoring or sanctioning it. Having said that - I thought it might at least be of interest to many of you. As I said, I'll be speaking to the Cleveland Engineering Society on November 19th regarding cyber threats currently facing the construction and manufacturing industries. I promise, I'm not trying to pimp myself out here, rather, just thought I would let everyone know, as I suspect there will be a decent cross-section of industries represented, which may present valuable networking in addition to whatever modest information I may bring to the table. If you want to or intend on coming, please let me know and I'll be sure to come talk to you before or after. Again, sorry if this comes off as shameless self-promotion, just figured some of the industry-relevant professionals on here may be interested. https://www.cesnet.org/EVENTS#id=165&cid=1275&wid=501&type=Cal interesting timing --- i just read the vanity fair sandworm article yesterday .... and i am mortified! i dk why trump cuddles up to these russians ... anyway, people might want to read it before they come to your talk ... but do so at your own mental health risk folks .... yikes! https://www.vanityfair.com/news/2019/10/the-discovery-of-sandworm-the-worlds-most-dangerous-hackers
October 31, 20195 yr ^ Alexa, could you please record everything that goes on in the house....Thanks.
November 2, 20195 yr On 10/31/2019 at 2:03 PM, YABO713 said: ^Lol and my wife wonders why I won’t let us get Roombas or Amazon Echo WHAT? You're living like cave people! I love my powerbot. Well, I did. I'm currently morning the loss of my Darth Vader powerbot. I think my nephew and the whippersnapper conspired against Darth.
November 4, 20195 yr Some speculation about the future product at the Ford Avon plant. An electric vehicle that was slated for assembly at the Mustang plant in Flat Rock, MI, may instead go to Avon. Interesting to see how that ties into the closed Ford plants in Brookpark and Walton Hills. The name thrown around earlier this year was Rivian as a potential buyer, which Ford is a large investor in. https://www.crainscleveland.com/manufacturing/ford-said-shift-plans-again-underused-mustang-plant Quote Ford is said to shift plans again for underused Mustang plant STAN BULLARD Ford Motor Co. is changing course a third time in as many years with its Mustang assembly plant in Michigan, nixing plans to make a new model there and tentatively shifting production to a factory in Ohio, according to people familiar with the matter. Ford no longer intends to build electric vehicles alongside Mustangs at its plant in Flat Rock, south of Detroit, according to the people, who asked not to be identified. The product now appears to be heading to the automaker's plant in Avon Lake, where it's investing $900 million to build an unspecified new product in 2023. ...
November 4, 20195 yr Wow, that's very interesting (and potentially huge!) considering that Rivian is supposed to build the frames for the a Mustang-inspired crossover EV. That change of plans by Ford could be a very significant "tell." "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 4, 20195 yr @KJPyou will appreciate this...I am oddly obsessed with logistics as I feel, in general, there is a lot of potential streamlining to be done...With that being said, I just looked on google maps and realized something AWESOME. Ford Motor's former plants in Walton Hills and Avon as well as the half operating engine plant in Brook Park are all directly along or just off of Norfolk Southern's mainline. Ford could theoretically stamp out frames for new electric vehicles in Walton Hills, build the engines in Brook Park, and assemble everything at Avon. Ohh and move everything by local rail service along the entire way. This could be huge and a very large win for the region. **Edit** I should say that they would partner with Rivan while doing this. Who would own and mange which production at which factory is hopefully being discussed Edited November 4, 20195 yr by YO to the CLE
November 4, 20195 yr 6 minutes ago, YO to the CLE said: @KJPyou will appreciate this...I am oddly obsessed with logistics as I feel, in general, there is a lot of potential streamlining to be done...With that being said, I just looked on google maps and realized something AWESOME. Ford Motor's former plants in Walton Hills and Avon as well as the half operating engine plant in Brook Park are all directly along or just off of Norfolk Southern's mainline. Ford could theoretically stamp out frames for new electric vehicles in Walton Hills, build the engines in Brook Park, and assemble everything at Avon. Ohh and move everything by local rail service along the entire way. This could be huge and a very large win for the region. And, as I noted in my Sept. 23 blog, the Rivian factory in Illinois is also on Norfolk Southern -- https://neo-trans.blogspot.com/2019/09/future-of-two-idled-cleveland-area-ford.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 4, 20195 yr Right on topic. 1500 new jobs going to the Avon Lake plant! Huge get for the local economy! https://www.cleveland.com/business/2019/11/fords-900-million-investment-in-avon-lake-plant-will-create-1500-jobs-mayor-says.html
November 7, 20195 yr The recent list of privately-held companies published by Crain's is revealing. More extensive than ever it shows 117 area firms of which 35 make the print-version cut off. 18 of them are billion-dollar size in sales. Ok, #18 is only $995 million, but that's close enough. That's a lot of business activity that doesn't show up in the Fortune 1000 world. https://www.crainscleveland.com/data-lists/10573/privately-held-companies-2019 Remember: It's the Year of the Snake
November 8, 20195 yr And quite a few of them are fast growing. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 9, 20195 yr This article talks about the multiplying affect the 1500 jobs in Avon Lake will have on the economy. https://www.cleveland.com/business/2019/11/fords-1-billion-investment-in-avon-lake-and-brook-park-plants-could-boost-greater-cleveland-economy.html Could someone tell me what is trying to be said in these two paragraphs? Is the first paragraph talking about additional jobs that would be created directly related to auto manufacturing and the second group of jobs is related to retail, government jobs, and so forth by people spending their paycheck and paying their taxes? For every 100 jobs created in light-truck and utility vehicle manufacturing, 925 additional jobs could be created, Duritsky said. The economic activity generated from the investment and creation of these jobs could bring in an additional $7.8 million annually in state and local taxes. For every 100 jobs created in auto manufacturing, an additional 73 jobs could be created, generating an additional $506,000 in state and local taxes, he said.
November 9, 20195 yr 47 minutes ago, cle_guy90 said: This article talks about the multiplying affect the 1500 jobs in Avon Lake will have on the economy. https://www.cleveland.com/business/2019/11/fords-1-billion-investment-in-avon-lake-and-brook-park-plants-could-boost-greater-cleveland-economy.html Could someone tell me what is trying to be said in these two paragraphs? Is the first paragraph talking about additional jobs that would be created directly related to auto manufacturing and the second group of jobs is related to retail, government jobs, and so forth by people spending their paycheck and paying their taxes? For every 100 jobs created in light-truck and utility vehicle manufacturing, 925 additional jobs could be created, Duritsky said. The economic activity generated from the investment and creation of these jobs could bring in an additional $7.8 million annually in state and local taxes. For every 100 jobs created in auto manufacturing, an additional 73 jobs could be created, generating an additional $506,000 in state and local taxes, he said. When you make more money you spend more. For instance, if you're working at a job paying X $$ you may dine out more. You may grocery shop twice a month. You may shop at retail once a month. If you have a job paying X $$$$ you may dine out more and at higher scale locations. You may shop and at high scale locations. You may live in a home where you employ a Lawyer, maid, Gardner, and renovate the home, creating X number of jobs.
November 9, 20195 yr 5 minutes ago, MyTwoSense said: When you make more money you spend more. For instance, if you're working at a job paying X $$ you may dine out more. You may grocery shop twice a month. You may shop at retail once a month. If you have a job paying X $$$$ you may dine out more and at higher scale locations. You may shop and at high scale locations. You may live in a home where you employ a Lawyer, maid, Gardner, and renovate the home, creating X number of jobs. Okay so my understanding is right then I believe. The first paragraph is talking about additional jobs actually related to the vehicle manufacturing and the second paragraph is related to those people spending their money?
November 9, 20195 yr 13 minutes ago, cle_guy90 said: Okay so my understanding is right then I believe. The first paragraph is talking about additional jobs actually related to the vehicle manufacturing and the second paragraph is related to those people spending their money? that is how I interpreted that passage.
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