May 22, 20205 yr 3 hours ago, cle_guy90 said: Cleveland MSA for some reason has their unemployment way higher than Ohio (23.1 vs. 16.8). Any insight as to why? https://www.bls.gov/eag/eag.oh_cleveland_msa.htm I'm guessing it's going to be higher in the cities than the rural areas of the state where less shut down. As of right now BLS isn't showing any April data for Columbus, Cincinnati, Toledo, Akron, or Dayton. I'm would be willing to guess their rates are also higher than the state average.
May 27, 20205 yr https://www.crainscleveland.com/manufacturing/ge-lighting-sold-massachusetts-company-savant-systems Big news. They say will keep the headquarters at Nela Park. Anyone with insights on what this means? Edited May 27, 20205 yr by cle_guy90
May 27, 20205 yr Author If they leave, it’s officially bye-bye East Cleveland. The state will definitely have to step in; this couldn’t have happened at a worse time.
May 27, 20205 yr 7 minutes ago, cle_guy90 said: https://www.crainscleveland.com/manufacturing/ge-lighting-sold-massachusetts-company-savant-systems Big news. They say they will leave the headquarters at Nela Park. Anyone with insights on what this means? https://www.google.com/amp/s/www.bostonglobe.com/2020/05/27/business/ge-sells-its-historic-lighting-business-cape-cod-company/%3foutputType=amp I believe they just mean that NELA Park will now be owned by Savant.
May 27, 20205 yr 8 minutes ago, cle_guy90 said: https://www.crainscleveland.com/manufacturing/ge-lighting-sold-massachusetts-company-savant-systems Big news. They say they will leave the headquarters at Nela Park. Anyone with insights on what this means? Cannot read the article...your post is confusing. Are the "leaving" Nela Park or leaving the headquarters at Nela Park after the sale.
May 27, 20205 yr 4 minutes ago, Htsguy said: Cannot read the article...your post is confusing. Are the "leaving" Nela Park or leaving the headquarters at Nela Park after the sale. Sorry you are right. I mean leave as it will remain. They will keep the headquarters there.
May 27, 20205 yr 41 minutes ago, Oldmanladyluck said: If they leave, it’s officially bye-bye East Cleveland. The state will definitely have to step in; this couldn’t have happened at a worse time. Sorry see my clarification. It was confusingly worded haha. Edited May 27, 20205 yr by cle_guy90
May 27, 20205 yr Author 4 minutes ago, cle_guy90 said: Sorry see my clarification. It was confusing worded haha.
May 27, 20205 yr From Cleveland.com. I’m just wondering if this is a case where the company says things will remain the same but they slowly transfer the employees over sort of like Valspar and SHW. https://www.cleveland.com/business/2020/05/ge-selling-century-old-lighting-unit-to-savant-systems.html
May 27, 20205 yr The WSJ coverage says GE got about $250 million for the business - I believe GE was hoping for quite a bit more a few years ago. Optimistically, I suspect NELA Park will remain more or less intact for a good while (five years anyway), because the buyer Savant Systems has only about 170 employees, compared to 700 or so at NELA. Savant's website makes it appear they assemble "home systems" from probably overseas-sourced parts. https://www.wsj.com/articles/ge-sells-lightbulb-business-for-about-250-million-11590585598?mod=lead_feature_below_a_pos1 Remember: It's the Year of the Snake
May 29, 20205 yr My thought is that Savant may seek a newer, more modern facility. It will ask for and get the sun and the moon from East Cleveland to stay with a new/modernized facility. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 29, 20205 yr Would be a great catalyst for the Opportunity Corridor, or maybe Midtown. If EC is gonna get annexed sooner or later anyway, why not? Edited May 29, 20205 yr by roman totale XVII My hovercraft is full of eels
June 1, 20205 yr Cheaper cities, including Cleveland, stand to gain in work-from-home shuffle https://www.crainscleveland.com/real-estate/cheaper-cities-including-cleveland-stand-gain-work-home-shuffle
June 3, 20205 yr 1 hour ago, Pugu said: ^Is Cleveland included---or "locations SUCH AS....Cleveland"? The article doesn’t really specify, but I don’t think they chose the 5 city names as examples of cities they’ll be expanding to.
June 3, 20205 yr This article sounds a little more definitive: https://www.marketwatch.com/story/stitch-fix-laying-off-around-1400-workers-in-california-2020-06-01
June 9, 20205 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 23, 20204 yr I'm not sure of the best thread in which to post this, but Cleveland is mentioned several times in this article about the water affordability crisis and how it disproportionately affects the poor, leading to further spirals into poverty and foreclosure. https://www.theguardian.com/us-news/2020/jun/23/millions-of-americans-cant-afford-water-bills-rise?CMP=oth_b-aplnews_d-1
June 23, 20204 yr Have we tried the argument with the Feds that when they keep cutting funding for water infrastructure, it acts like a tax causing people to have less money to spend in the economy? Or will they still not care because it'd be a tax on poor people? Imagine the ripple effect on folks in Cleveland having an extra 3-5% of the income to spend at local businesses.
June 24, 20204 yr On 11/15/2019 at 10:52 PM, MuRrAy HiLL said: Another article, this time from across the pond: London Stock Exchange opens North-American headquarters in Cleveland, Ohio By Dilara Kucuk - 05/11/2019 London Stock Exchange Group announced that it will open its North American headquarters for the Elite initiative in Cleveland, Ohio. London Stock Exchange Group will start operating its Cleveland headquarters by the start of next year. Cleveland is one of the investment hubs of the United States. It is home to important cultural, educational and financial institutions. Elite initiative will hire an additional 40 employees with an annual payroll of $5 million. https://ukinvestormagazine.co.uk/london-stock-exchange-opens-north-american-headquarters-in-cleveland-ohio/ I have not heard anything about this lately. I assume it got waylaid by Covid-19.
June 24, 20204 yr 3 hours ago, skiwest said: I have not heard anything about this lately. I assume it got waylaid by Covid-19. Just delayed. I mentioned it in an article a couple of months ago.... http://neo-trans.blogspot.com/2020/04/coronavirus-crisis-casualties-in.html?m=1 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 25, 20204 yr UVeye, an Israeli vehicle inspection equipment and systems maker, says they will open operations Ohio and New York as well as manufacturing locations in Ohio, Michigan, or Texas. The plans are vague, but the company has backing from Toyota and Volvo. Their location choices are wide-spread and non-specific, BUT they have hired two Cleveland-area men for their managing director for North America and sales director. Another promising area start. https://www.crainscleveland.com/manufacturing/uveye-names-two-northeast-ohio-residents-its-leadership-team Remember: It's the Year of the Snake
June 25, 20204 yr 3 hours ago, Dougal said: UVeye, an Israeli vehicle inspection equipment and systems maker, says they will open operations Ohio and New York as well as manufacturing locations in Ohio, Michigan, or Texas. The plans are vague, but the company has backing from Toyota and Volvo. Their location choices are wide-spread and non-specific, BUT they have hired two Cleveland-area men for their managing director for North America and sales director. Another promising area start. https://www.crainscleveland.com/manufacturing/uveye-names-two-northeast-ohio-residents-its-leadership-team Wonder if this is related to one or both of the Ford plants that are on the market (Brook Park & Walton Hills)? So when UVeye's vehicle inspection equipment detects a problem, does it say "Oy-vey"? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 26, 20204 yr 11 hours ago, KJP said: Wonder if this is related to one or both of the Ford plants that are on the market (Brook Park & Walton Hills)? So when UVeye's vehicle inspection equipment detects a problem, does it say "Oy-vey"? Their "system" looks to be the size of a one-car garage bay. I don't think they'd need anything like Brookpark or Walton Hills to make it. Remember: It's the Year of the Snake
June 26, 20204 yr 16 hours ago, KJP said: Wonder if this is related to one or both of the Ford plants that are on the market (Brook Park & Walton Hills)? So when UVeye's vehicle inspection equipment detects a problem, does it say "Oy-vey"? I think that's hilarious and most of my Jewish friends would too, but it's 2020 so be careful. ?
June 26, 20204 yr 7 hours ago, Dougal said: Their "system" looks to be the size of a one-car garage bay. I don't think they'd need anything like Brookpark or Walton Hills to make it. What are their production goals? That's a pretty big product so if they plan to mass produce them for use in car dealerships for example, that could be thousands of pieces of equipment per year, plus replacement parts. Would these be just for Volvo and Toyota vehicles or for all types of vehicles? If it's for all types of vehicles, it might definitely need a big factory for them. Maybe not the size of Brook Park or Walton Hills. But probably a pretty big facility. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 30, 20204 yr The Top US Cities for Healthcare Jobs https://www.gcu.edu/blog/nursing-health-care/top-us-cities-healthcare-jobs "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
June 30, 20204 yr On 6/26/2020 at 9:50 AM, KJP said: What are their production goals? That's a pretty big product so if they plan to mass produce them for use in car dealerships for example, that could be thousands of pieces of equipment per year, plus replacement parts. Would these be just for Volvo and Toyota vehicles or for all types of vehicles? If it's for all types of vehicles, it might definitely need a big factory for them. Maybe not the size of Brook Park or Walton Hills. But probably a pretty big facility. In manufacturing, if you can afford a lot of space more often than not you can find a use for it. It gives you a lot of flexibility.
June 30, 20204 yr The Cleveland Foundation has announced a list of grants for the quarter, the largest of which is $3.8 million (out of $26.2 million total) for "Neighborhood Connections" which makes small investments in many people and projects. I can't find fault with anything on their list, but I wonder if fewer but larger projects might have more impact. Their list is getting to look like the United Appeal roster. In normal times I'd like to see at least half their budget go for one BIG thing. On the other hand, with so much virus-driven unemployment, many spreading it around is the right thing to do this time. https://www.crainscleveland.com/nonprofits/cleveland-foundation-approves-262-million-grants-second-quarter Remember: It's the Year of the Snake
July 1, 20204 yr Covia Corp. files for Chapter 11 bankruptcy protection https://www.crainscleveland.com/manufacturing/covia-corp-files-chapter-11-bankruptcy-protection
July 2, 20204 yr 19 hours ago, infrafreak said: Covia Corp. files for Chapter 11 bankruptcy protection https://www.crainscleveland.com/manufacturing/covia-corp-files-chapter-11-bankruptcy-protection They rose and fell with fracking and the price of oil. Of course, the management squabbles didn't help. Remember: It's the Year of the Snake
July 4, 20204 yr Cross-posted in the Cleveland random developments thread.... FRIDAY, JULY 3, 2020 Lots of good long-term economic news for Greater Cleveland As jobs start to come back following the pandemic-related economic shutdown, there are also new jobs coming online for Greater Cleveland. These aren't restored jobs; they are jobs resulting from economic growth in sectors that were either unaffected by the shutdown or they are structural changes from employers seeking lower-cost ways of doing business. One of the sectors that wasn't hurt by the shutdown was the warehousing/distribution sector. Businesses continue to look hard for warehousing/distribution space and the bigger the better. MORE: https://neo-trans.blogspot.com/2020/07/lots-of-good-long-term-economic-news.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 6, 20204 yr If you ever wanted to open an EV Charging Station in Cleveland (in the 7-county area) there is grant money available for it, which is from the VW settlement. Online info meeting on the application process is this Thurs July 9 and July 14 -- attend either one. https://epa.ohio.gov/News/Online-News-Room/News-Releases/ohio-epa-offering-grants-for-electric-vehicle-charging-stations
July 9, 20204 yr At least 25 news jobs from a new company outside the region specializing in social media/digital advertising. Landing in the warehouse district. While not huge news still good news nonetheless. https://www.crainscleveland.com/government/texas-based-social-media-advertising-firm-plans-open-office-downtown-cleveland
July 9, 20204 yr 3 hours ago, cle_guy90 said: At least 25 news jobs from a new company outside the region specializing in social media/digital advertising. Landing in the warehouse district. While not huge news still good news nonetheless. https://www.crainscleveland.com/government/texas-based-social-media-advertising-firm-plans-open-office-downtown-cleveland This is interesting in itself. If, however, their Cleveland office is to be a regional sales office for the entire northeast US, it becomes VERY interesting. Remember: It's the Year of the Snake
July 9, 20204 yr https://abcnews.go.com/Business/wireStory/allstate-acquires-national-general-billion-cash-71668087 Not sure how this will play out for National Generals presence in Cleveland.
July 9, 20204 yr 5 hours ago, cle_guy90 said: At least 25 news jobs from a new company outside the region specializing in social media/digital advertising. Landing in the warehouse district. While not huge news still good news nonetheless. https://www.crainscleveland.com/government/texas-based-social-media-advertising-firm-plans-open-office-downtown-cleveland "Cleveland's world-class marketing..." Does this mean our world-class signage is paying off?
July 9, 20204 yr Wasn't BrandMuscle a Cleveland company? "Paul Elliott, the CEO of Tiger Pistol and the former president of marketing and software services firm BrandMuscle, said Cleveland's pool of technology and marketing expertise and the city's affordability are some of the key driving factors for expansion into the market....Cleveland-based private investment firm Next Sparc, where Elliott was a partner, acquired Tiger Pistol in 2019." and this: "Tiger Pistol's expansion is part of an economic development collaboration between the city of Cleveland, Project Management Consultants, JobsOhio and Team NEO. The project funding, details of which have not been announced, is subject to state and local approval." Seems like a lot of effort and organizations' time for just 25 jobs for a company that already knows Cleveland very well. And sounds like the won't move a muscle til the public sector cash is in hand ("The timing of the Cleveland office's opening depends on when state and local funding for the project is approved."). Is this what it takes to get a new jobs in Cleveland? its not even the HQ of the company, just an office. Sounds like the CEO himself, being a partner in Cleveland-based private investment firm Next Sparc and former head of BrandMuscle, may already be in Cleveland.
July 9, 20204 yr 3 hours ago, viscomi said: https://abcnews.go.com/Business/wireStory/allstate-acquires-national-general-billion-cash-71668087 Not sure how this will play out for National Generals presence in Cleveland. Good question. This definitely bears watching. Certainly the history of corporate consolidations since the 1980s has not been kind to Cleveland. But as companies have consolidated into fewer cities, the costs of living and of paying employees in those cities has gone up. We've seen a few companies recently open up or relocate to Cleveland to reduce their costs of doing business. Edited July 9, 20204 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
July 11, 20204 yr I don't recall seeing this new Amazon facility mentioned here before: Amazon to open center in Glenwillow with 300 jobs (Paywall): http://www.chagrinvalleytoday.com/communities/glenwillow/article_0014bcbc-c160-11ea-970e-ff910c7d6f62.html The Village of Glenwillow will be home next month to a $20 million Amazon distribution center, bringing in nearly 300 new jobs and occupying the largest available site left in the Diamond Business Park off of Pettibone Road. ... The distribution center will occupy the largest available site in the Diamond Business Park, which was developed about 12 years ago and is home to Superior Beverage, a division of Swagelok, the Mantua Manufacturing and GED companies, among other businesses. ... They have informed the village there would be a minimum of 300 new jobs, which are a combination of full and part time positions. When is the last time I-71 turned a profit?
July 13, 20204 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 13, 20204 yr Cleveland has been investing in its CBD at the neglect of impoverished neighborhoods.
July 13, 20204 yr 20 minutes ago, Cavalier Attitude said: Cleveland has been investing in its CBD at the neglect of impoverished neighborhoods. Money doesn't follow need. It follows success. It chases the highest returns on investment. If a neighborhood can't prove itself worthy of investment, why should it receive investment? "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
July 13, 20204 yr 7 minutes ago, KJP said: Money doesn't follow need. It follows success. It chases the highest returns on investment. If a neighborhood can't prove itself worthy of investment, why should it receive investment? I think some healthy questions for discussion are: -What things can the City realistically do? -Is the City doing, or capable of doing those things competently?
July 14, 20204 yr 5 hours ago, surfohio said: I think some healthy questions for discussion are: -What things can the City realistically do? -Is the City doing, or capable of doing those things competently? I think the best the city can do is to try to place anchor investments, be they brownfield cleanup, new infrastructure, public buildings, and focus general economic development in the neighborhoods that need it most. Start with the worst, however you figure that out and move on to the next. You may view some of the investment going on along the Opportunity Corridor as such or even the new Police HQ. The city is not yet at a place where it can drop investments being made in downtown or the near west side, but those areas are getting close. You create a few good clusters of these types of developments or economic development areas and then the hope would be those areas would start to attract private development dollars that could create jobs, stabilize those neighborhoods and make them attractive options for residents again.
July 14, 20204 yr 10 hours ago, Mov2Ohio said: I think the best the city can do is to try to place anchor investments, be they brownfield cleanup, new infrastructure, public buildings, and focus general economic development in the neighborhoods that need it most. Start with the worst, however you figure that out and move on to the next. You may view some of the investment going on along the Opportunity Corridor as such or even the new Police HQ. The city is not yet at a place where it can drop investments being made in downtown or the near west side, but those areas are getting close. You create a few good clusters of these types of developments or economic development areas and then the hope would be those areas would start to attract private development dollars that could create jobs, stabilize those neighborhoods and make them attractive options for residents again. Sounds good in principle but unfortunately it doesn't work that way. A blighted area surrounded by other blighted areas is at a huge disadvantage. What works best is similar to what works for residential. Identify areas that can use the help, can be developed cost effectively, and are immediately adjacent to already improving areas. The risk is siphoning some momentum from the latter, but eventually it's a net gain and beats flushing money into impact-free projects. Midtown is the place to push right now. Grow the CSU and CC areas together like happened with CC and UC.
July 14, 20204 yr 25 minutes ago, E Rocc said: Sounds good in principle but unfortunately it doesn't work that way. A blighted area surrounded by other blighted areas is at a huge disadvantage. What works best is similar to what works for residential. Identify areas that can use the help, can be developed cost effectively, and are immediately adjacent to already improving areas. The risk is siphoning some momentum from the latter, but eventually it's a net gain and beats flushing money into impact-free projects. Midtown is the place to push right now. Grow the CSU and CC areas together like happened with CC and UC. I agree. Southern Hough and northern Fairfax are good opportunities for the same reason. On the west side, upgrading W 65th between Detroit and Lorain would be awesome - benefiting from Gordon Sq and the march of development west along Lorain, plus the Red Line station. So much potential. Which, in turn, would benefit those areas. A positive reinforcement loop. When is the last time I-71 turned a profit?
July 16, 20204 yr On 7/13/2020 at 2:03 PM, Cavalier Attitude said: Cleveland has been investing in its CBD at the neglect of impoverished neighborhoods. That’s such a BS line, and I really wish people would stop saying it
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