September 25, 201113 yr This is two months old but still worth sharing (BTW we're tied with Greater Columbus).... Cleveland Economy Doing Relatively Well August 4, 2011 So take the top 50 metropolitan areas in the USA, with over 1 million people. Now rank them by their unemployment rates, the lowest rate #1 the highest rate last. Where do you think Cleveland ranks? #35? #39? #49? Try #16. The unemployment rate, at 8.4% is way too high. But the local economy is doing RELATIVELY well. With lots of construction, movies being filmed here and companies hiring, the local economy would be booming if the national economy wasn’t so horrible. You probably only see Cleveland on the top of negative lists like poverty or misery. That’s what gets printed cause that’s what sells. But the Cleveland economy is very quietly doing OK during this weak economy. Let’s hope this is a sign of very good things to come. READ MORE AT: http://www.clevelandnewsblog.com/2011/08/cleveland-economy-relatively-strong/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 25, 201113 yr I believe the latest BLS stats have the unemployment rate down to 8.2%... Also, remember that CLE had a relatively high unemployment rate (I think over 7%) PRIOR to the recession, so the actual impact of the recession on greater CLE has been somewhat mitigated.
September 25, 201113 yr This is two months old but still worth sharing (BTW we're tied with Greater Columbus).... Cleveland Economy Doing Relatively Well August 4, 2011 So take the top 50 metropolitan areas in the USA, with over 1 million people. Now rank them by their unemployment rates, the lowest rate #1 the highest rate last. Where do you think Cleveland ranks? #35? #39? #49? Try #16. The unemployment rate, at 8.4% is way too high. But the local economy is doing RELATIVELY well. With lots of construction, movies being filmed here and companies hiring, the local economy would be booming if the national economy wasn’t so horrible. You probably only see Cleveland on the top of negative lists like poverty or misery. That’s what gets printed cause that’s what sells. But the Cleveland economy is very quietly doing OK during this weak economy. Let’s hope this is a sign of very good things to come. READ MORE AT: http://www.clevelandnewsblog.com/2011/08/cleveland-economy-relatively-strong/ Please note the position of the "grass is greener" cities like Atlanta, Charlotte, Miami/Ft. Lauderdale, Portland, Houston.
September 25, 201113 yr Relative to the rest of the country we are in the top third of all MSAs: http://www.bls.gov/web/metro/laummtrk.htm
September 26, 201113 yr Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph
September 26, 201113 yr Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph I Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph Sounds like it's an oasis in a state with an 11% unemployment rate.
September 26, 201113 yr Sounds like it's an oasis in a state with an 11% unemployment rate. Yes, it is an "oasis", relatively speaking: Greenville-Mauldin-Easley, SC Metropolitan Statistical Area -- unemployment rate of 9.6% But, compare that to: Cleveland-Elyria-Mentor, OH Metropolitan Statistical Area -- unemployment rate of 8.2% SOURCE: http://www.bls.gov/web/metro/laummtrk.htm "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 26, 201113 yr A little more detail...... Monday, August 22, 2011 Regional economy continues to improve Team NEO releases Cleveland Plus Economic Review. (Cleveland) - With growing employment and an unemployment rate that is outperforming the national average, the Northeast Ohio economy continues to improve. That’s the findings of the quarterly Cleveland Plus Economic Review, released Monday by Team NEO. Cleveland Plus has now posted year-over-year employment increases for the past five consecutive quarters. Team NEO is a joint venture of the region's largest metro chambers of commerce and encompasses 16 counties in northeast Ohio. Notably, the report shows construction jobs grew by 17.3% Q2 over Q1, representing a year-over-year increase of 3.5%. Manufacturing and service jobs are seeing year-over-year gains as well. READ MORE AT: http://www.wtam.com/cc-common/news/sections/newsarticle.html?feed=122520&article=9002743 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 26, 201113 yr I've looked at the BLS stats, and they're encouraging in that it's manufacturing and services leading the way, while government shrinks. What I'd like to know (and perhaps some of you are more versed in the BLS website) is how many of these jobs are previously furloughed workers, and how many are actually 'new' jobs. And perhaps I'm mistaken about 'new' jobs being more valuable...
September 26, 201113 yr Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph I Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph Sounds like it's an oasis in a state with an 11% unemployment rate. And now you see the relevancy of the post. It is possible to have prosperity with even a relatively high rate of unemployment. Prospertity at least gives the underclass a chance to escape economically. The Left would prefer that if some have to be miserable, that we all be miserable (Ohio, Michigan) and have no hope, rather than at least somebody having a chance to prosper. Tedolph
September 26, 201113 yr alot of what you see in the "new" south was concieved and built during the speculative late '90's and early part of the 21st century. Yea it looks pretty and clean but most if not all of those cities are grossly overbuilt and it will takes years to absorb the stock. Indeed, the unemployment rates of some of these metro's reflect the speculative growth. Most of those jobs will not come back.
September 26, 201113 yr Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph I Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph Sounds like it's an oasis in a state with an 11% unemployment rate. And now you see the relevancy of the post. It is possible to have prosperity with even a relatively high rate of unemployment. Prospertity at least gives the underclass a chance to escape economically. The Left would prefer that if some have to be miserable, that we all be miserable (Ohio, Michigan) and have no hope, rather than at least somebody having a chance to prosper. Tedolph Yes, and CLE is prospering relative to alot of other metro's
September 26, 201113 yr Sounds like it's an oasis in a state with an 11% unemployment rate. And now you see the relevancy of the post. I'm pretty sure 8titles was being facetious. Can we please leave the politics to the political threads? That way I can continue to avoid seeing any discussion of such irrelevant and petty BS. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 26, 201113 yr Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph I Just returned from a trip to Greenville, SC. Home to BMW and not far from a new Boeing plant. Prosperity everywhere I looked. In downtown, everything is either new or renovated. Not one closed store front. Lots of Yankees there too. Tedolph Sounds like it's an oasis in a state with an 11% unemployment rate. And now you see the relevancy of the post. It is possible to have prosperity with even a relatively high rate of unemployment. Prospertity at least gives the underclass a chance to escape economically. The Left would prefer that if some have to be miserable, that we all be miserable (Ohio, Michigan) and have no hope, rather than at least somebody having a chance to prosper. Tedolph Yes, and CLE is prospering relative to alot of other metro's But in Cleveland it's somewhat the opposite. If it is prospering more than other metros and much of the south (like Greenville, S.C.) it certainly doesnt look like it in comparison (although things tend to be more organic and often less visible in N.E. Ohio).
September 27, 201113 yr It is possible to have prosperity with even a relatively high rate of unemployment. It is also possible to have prosperity with a high rate of urban abandonment. We "prosper" just fine here. We don't have stores open downtown because we've made different choices than Greenville. Greenville doesn't have massive new stadiums or a medical mart, nor could it. It isn't wealthy enough to muster that kind of cash. It also isn't big enough for each suburb to want its own retail plaza. And I don't see it ever succumbing to the 50+ suburbs arrangement. People aren't that stupid anymore. That has a lot more to do with Cleveland's appearance than any left-right or north-south issues.
September 27, 201113 yr :clap:Sherwin-Williams bringing 110 new jobs to Cleveland :clap: 1:35 pm, September 27, 2011 Chalk up a few more jobs in downtown Cleveland to Sherwin Williams Co. (NYSE: SHW), which is adding to its roles here with a little incentive from the state of Ohio. The Ohio Department of Development announced it has approved a $5.8 million job-creation tax credit for Sherwin-Williams in exchange for the company bringing 110 new jobs to the city. http://www.crainscleveland.com/apps/pbcs.dll/article?AID=/20110927/FREE/110929843
October 10, 201113 yr I missed this when it came out a month and a half ago.......... Cleveland leads the nation in manufacturing job growth Pittsburgh researcher compares his city to Northeast Ohio by WKSU's JEFF ST. CLAIR One of the best indicators of the economic health of a region is measuring the growth, or decline, in manufacturing jobs. Even though only about 1 in 7 people actually make products in Northeast Ohio, manufacturing creates jobs in other area like distribution, administration, and services. There is some good news for our region according Harold Miller, a professor of public policy at Carnegie Mellon University in Pittsburgh. His research shows that in the first half of this year Cleveland leads the nation in the creation of manufacturing jobs. READ/HEAR MORE AT: http://www.wksu.org/news/story/26133 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 16, 201113 yr Another company moving Dowtown from the burbs. Dwellworks out by Richmond Road and 422/271 (not even sure what suburb that is) is moving to Playhouse Sq--not sure if its all their employees or just some. "Dwellworks, LLC is slated to move 30-40 employees into new office space in the PlayhouseSquare District in March 2012. Dwellworks is leasing 15,000 square feet of space in the historic F. W. Woolworth building, located at 1317 Euclid Avenue, from PlayhouseSquare Real Estate Services...." http://www.dwellworks.com/index/news-app/story.29/title.dwellworks-plans-downtown-move-of-headquarters/menu.no/sec./home.
October 16, 201113 yr ^Thanks. Well, happy to see another firm moving Downtown, no matter where they're coming from (within Cuyahoga County or the rest of the world).
October 17, 201113 yr Also BrownFlynn a Highland Heights corporate consulting firm that specializes in helping business adopt sustainable practices is moving downtown. I havent seen much about it or how big they are, but it looks like a good handfull of people and growing. Andrew Watterson, Cleveland's Chief of Sustainability is leaving the city and joining them.
October 17, 201113 yr http://www.cleveland.com/business/index.ssf/2011/10/ferro_corp_completes_its_move.html My dad's old employer. They used to be in the IMG building, but they've moved out to Mayfield Heights. The ability to consolidate is their stated reason. Considering the occupancy rate downtown, I'm guessing traffic and parking had something to do with it too. People who work in manufacturing generally hate to even go downtown on business, I've found. Searchmasters moved from downtown to Independence and I think that was part of why.
October 17, 201113 yr ^They were in a building located at 1000 Lakeside ave. A lot of the employee's being moved are also from their pleasant valley rd location.
October 17, 201113 yr ^They were in a building located at 1000 Lakeside ave. A lot of the employee's being moved are also from their pleasant valley rd location. I guess I'm behind the times, Dad worked in the ISG building and most of the offices were there.
October 17, 201113 yr I would love to steal Progressive from Mayfield Heights. They would fill up a building taller than key just by themselves.
October 17, 201113 yr The amount of pending vacant space in downtown office buildings is pretty staggering. More than half of Eaton Center, a portion of the IMG building once IMG folds its office here, much of the Huntington Building...it's gonna take awhile to absorb that, even if there's a pent-up demand for quality new offices. Great opportunity for some apartment conversions in the older buildings, but things like Eaton/IMG don't really lend themselves well to that. Progressive would certainly want their own tower, as they had originally planned, but I doubt they'll ever leave their current campus.
October 17, 201113 yr Also BrownFlynn a Highland Heights corporate consulting firm that specializes in helping business adopt sustainable practices is moving downtown. I havent seen much about it or how big they are, but it looks like a good handfull of people and growing. Andrew Watterson, Cleveland's Chief of Sustainability is leaving the city and joining them. It is a pretty small firm and not one that would likely grow to be much larger.
October 17, 201113 yr much of the Huntington Building... Likely soon to renamed again when 200 Public Square (formerly the Sohio/BP Building) officially becomes the Huntington Building to match the sign.
October 17, 201113 yr The amount of pending vacant space in downtown office buildings is pretty staggering. More than half of Eaton Center, a portion of the IMG building once IMG folds its office here, much of the Huntington Building...it's gonna take awhile to absorb that, even if there's a pent-up demand for quality new offices. Great opportunity for some apartment conversions in the older buildings, but things like Eaton/IMG don't really lend themselves well to that. Progressive would certainly want their own tower, as they had originally planned, but I doubt they'll ever leave their current campus. IMG is folding their Cleveland office? I thought they were based in Cleveland?
October 17, 201113 yr ^ they were bought out by a NY based PE firm (Forstman Little) a few years ago and subsequently moved their HQ to NYC . I hadn't heard that they were shuttering the Cleveland offices, though.
October 17, 201113 yr The only thing I heard is that the HQ for their golf division is no longer in Cleveland, stemming from a shift in Mgt after the guy who reps Tiger Woods left.
October 17, 201113 yr ^ they were bought out by a NY based PE firm (Forstman Little) a few years ago and subsequently moved their HQ to NYC . I hadn't heard that they were shuttering the Cleveland offices, though. Thanks. Didn't know that.
October 19, 201113 yr The amount of pending vacant space in downtown office buildings is pretty staggering. More than half of Eaton Center, a portion of the IMG building once IMG folds its office here, much of the Huntington Building...it's gonna take awhile to absorb that, even if there's a pent-up demand for quality new offices. Great opportunity for some apartment conversions in the older buildings, but things like Eaton/IMG don't really lend themselves well to that. Progressive would certainly want their own tower, as they had originally planned, but I doubt they'll ever leave their current campus. IMG is folding their Cleveland office? I thought they were based in Cleveland? Only the Exec. Branch moved from CLE to NYC, last year. Cleveland is still the the Main Office for several divisions. There are offices on East Ninth and in Tower City. During the Merger, that was a key point. I have a lot of insight on this for personal reasons. The only thing I heard is that the HQ for their golf division is no longer in Cleveland, stemming from a shift in Mgt after the guy who reps Tiger Woods left. That isn't true. IMG bought another sports company and they had to realign their sports division via federal regulatory approval.
October 19, 201113 yr MTS droppin some knowledge BOMBS! Hey they are my back burner "job" in the event I lose my job. LOL So a brotha has done his homework! In '09, I almost made the jump.
October 20, 201113 yr MTS droppin some knowledge BOMBS! Hey they are my back burner "job" in the event I lose my job. LOL So a brotha has done his homework! In '09, I almost made the jump. At least if you do go over there we can expect some better dressed athletes. Some of the things you se these guys out in is embarressing. Although it does prove the point that money doesn't change your personality, it just allows you to show more of it (for better and worse).
October 20, 201113 yr Although it does prove the point that money doesn't change you personalty, it just allows you to show more of it (for better and worse). Great!! "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 30, 201113 yr Note to moderator: Move this post to its appropriate topic heading if there is one for Cleveland Business updates. There is an argument to be made that for Cleveland to reach its full potential, its citizens and institutions should act as its ambassadors. Many have not heard of the gem that is Cleveland. And for those who have heard, some have a negative idea of what Cleveland is today. Luckily, there is at least one major institution, that I know of, that is doing its part to show the world how great Cleveland is: The Cleveland Orchestra! They have major concerts around the world; and they do their part in casting Cleveland in a positive light with their music. Lately, it appears that they are trying to woo business into investing in Cleveland. My only hope is that other institutions with roots in the region follow this example. A better Cleveland is good for all. Competition is good! Bellow is a link to The Cleveland Orchestra blog that talks about their recent campaign. http://www.clevelandorchestrablog.com/2011/10/cleveland-orchestra-and-team-neo-in.html
November 3, 201113 yr Some interesting land movement. Just search the title from Crains, it won't allow links. Thursday November 3, 2011 L.A. outfit finds time is right to shed downtown Cleveland land By STAN BULLARD 4:30 am, October 31, 2011 With casino gaming and a new convention center on the horizon, L&R Group of Los Angeles is trying to sell its downtown holdings. L&R has sold one of its properties and is in the hunt for buyers for parking lots near Quicken Loans Arena and the East Fourth Street and Warehouse District redevelopment hotspots. In a small sale that may telegraph bigger property plays, L&R through L&R 612 Prospect LLC recently sold for $1.1 million a tiny, two-story building at 620 Prospect Ave., according to Cuyahoga County land records. Most recently, the structure was the home of the closed View nightclub on the second floor, but it was beloved by bibliophiles as the one-time home of Kay's Bookstore. Three retailers occupy the first floor. >>>> search the title, should be the first one. L.A. outfit finds time is right to shed downtown Cleveland land
November 4, 201113 yr There's already a new night club being planned for the former View. As one of the few bars/clubs with rooftop access I'm not surprised. Off the top of my head the only other ones I can think of are Velvet Dog and Greenhouse Tavern. Does anyone else know of any more?
November 4, 201113 yr Some interesting land movement. Just search the title from Crains, it won't allow links. Thursday November 3, 2011 L.A. outfit finds time is right to shed downtown Cleveland land By STAN BULLARD 4:30 am, October 31, 2011 With casino gaming and a new convention center on the horizon, L&R Group of Los Angeles is trying to sell its downtown holdings. L&R has sold one of its properties and is in the hunt for buyers for parking lots near Quicken Loans Arena and the East Fourth Street and Warehouse District redevelopment hotspots. In a small sale that may telegraph bigger property plays, L&R through L&R 612 Prospect LLC recently sold for $1.1 million a tiny, two-story building at 620 Prospect Ave., according to Cuyahoga County land records. Most recently, the structure was the home of the closed View nightclub on the second floor, but it was beloved by bibliophiles as the one-time home of Kay's Bookstore. Three retailers occupy the first floor. >>>> search the title, should be the first one. L.A. outfit finds time is right to shed downtown Cleveland land This is exciting to me. I believe L&R wanted to tear down their buildings on Prospect for more parking a while back. Hopefully, MRN can pick them up and spread a little E. 4th down that way instead.
November 4, 201113 yr Mary Anne Sharkey, a spokeswoman for Rock Ohio Caesars, said the company does not comment on potential real estate transactions. She declined comment on whether Rock is an investor in the two-story building with the buyer that has the Dallas mailing address. That tells me they are an investor. I smell a huge new parking deck for that area between Prospect and Huron, east of East Fourth. If my guess is accurate, I sure hope they line the sidewalks with some leasable spaces. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 4, 201113 yr Hi, I've just joined this forum although I've been reading it frequently for several months. Decided to finally sign-up... What used to be where the large parking lot is now (between E 4th and E 6th)?
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