Cleveland, OH, January 7, 2013 – Midwest healthcare companies attracted $996 million in new investments across 182 companies in 2012 according to the BioEnterprise Midwest Healthcare Venture Investment Report. The total dollars attracted is up by twenty-three percent from 2011. Ohio ($292 million), Minnesota ($165 million), and Illinois ($146 million) led Midwestern states in attracting investment dollars; Cleveland, Minneapolis, and Chicago were the leaders among Midwest regions.

 

"Investment activity in Midwest healthcare deals continues its upward trend, outperforming previous years' activity for 3 years in a row. As with the rest of the country, Midwest healthcare investing fell dramatically in 2009 after strong years in 2007 and 2008, but it appears investors are again optimistic about Midwest deals. 2013 should be an interesting year to watch," said Aram Nerpouni, Interim President of BioEnterprise, the Cleveland biomedical accelerator.

 

http://www.gcpartnership.com/Media-Center/GCP-Every-Monday/~/media/Files/Every%20Monday/MidwestHealthCareVentureReportYE2012PressReleaseFINALlinkstoreport_c99d.ashx

Cleveland, OH, January 7, 2013 – Midwest healthcare companies attracted $996 million in new investments across 182 companies in 2012 according to the BioEnterprise Midwest Healthcare Venture Investment Report. The total dollars attracted is up by twenty-three percent from 2011. Ohio ($292 million), Minnesota ($165 million), and Illinois ($146 million) led Midwestern states in attracting investment dollars; Cleveland, Minneapolis, and Chicago were the leaders among Midwest regions.

 

"Investment activity in Midwest healthcare deals continues its upward trend, outperforming previous years' activity for 3 years in a row. As with the rest of the country, Midwest healthcare investing fell dramatically in 2009 after strong years in 2007 and 2008, but it appears investors are again optimistic about Midwest deals. 2013 should be an interesting year to watch," said Aram Nerpouni, Interim President of BioEnterprise, the Cleveland biomedical accelerator.

 

http://www.gcpartnership.com/Media-Center/GCP-Every-Monday/~/media/Files/Every%20Monday/MidwestHealthCareVentureReportYE2012PressReleaseFINALlinkstoreport_c99d.ashx

 

$226M of Ohio's $291M is generated in Cleveland.  Great.

Cleveland's labor force and employment numbers are the lowest they've been in 10 years.  What the frack is going on here?

 

http://data.bls.gov/timeseries/LAUMT39174606?data_tool=XGtable

Working in a multi-county area, I've noticed the same thing.

 

I am assuming labor force dropout (discouraged workers) plus out-migration. Labor force dropout may be increased by the leading edge of the baby boom hitting their 60's.

I'm thinking this is some sort of wonky statistical issue. This year we're showing an increase in the number of jobs, but a decrease in the number of people employed, according the BLS numbers.  Last year, it was the opposite, we were showing more people employed, but fewer jobs.  Neither of these make sense, they should vary together.

Cleveland outpaces nation drawing venture capital to its tech scene

 

CLEVELAND, Ohio -- Bucking the national trend, Cleveland's high-tech sector enjoyed a burst of momentum last year as venture capitalists poured new levels of money into the region.

 

Young technology-based companies here attracted about $201 million in 2012, a 34 percent spike over the previous year, according to a study being released today by JumpStart, a Cleveland-based technology accelerator.

 

http://www.cleveland.com/business/index.ssf/2013/01/cleveland_outpaces_nation_draw.html#incart_river_default

Working in a multi-county area, I've noticed the same thing.

 

I am assuming labor force dropout (discouraged workers) plus out-migration. Labor force dropout may be increased by the leading edge of the baby boom hitting their 60's.

 

The graphs show a huge decline in the labor workforce since 2008; my assumption was that the region was doing better than what the numbers show when it comes to the size of the workforce and employment.  Maybe it is some type of glich for the year... at least I hope it is. 

 

I think there needs to be more of a concerted effort from our elected officials to help entice businesses to the region. 

Working in a multi-county area, I've noticed the same thing.

 

I am assuming labor force dropout (discouraged workers) plus out-migration. Labor force dropout may be increased by the leading edge of the baby boom hitting their 60's.

 

The graphs show a huge decline in the labor workforce since 2008; my assumption was that the region was doing better than what the numbers show when it comes to the size of the workforce and employment.  Maybe it is some type of glich for the year... at least I hope it is. 

 

I think there needs to be more of a concerted effort from our elected officials to help entice businesses to the region. 

 

I don't know about everyone else, but I really get the feeling that Cleveland lost a bunch of people since 2008.    It reminds me of when I was a kid and my friends would move away because their dads found construction jobs in Charlotte and Phoenix.  I personally know 6-8 friends/couples that moved away in the past 4 years.

^I think it shows with the amount of abandonment which runs throughout the east side and into parts of the inner-ring suburbs. Cleveland quickly lost a lot of its urbanity within the past 5 years thanks to the foreclosure crisis.  Some neighborhoods have entire streets which are near abandoned with still standing vacant housing structures.  E. 113th and Union is a prime example.  You may have a total of 10 families left on the street.

 

I think this region must focus on business retention and enticement more. There is no other way to grow the regional tax base than to bring in businesses or train the existing residents on creating businesses.  I think Mayor Jackson has done a fine job during the financial crisis.  But as one of the region's leaders, what has he along with others done to help bring businesses back to the region?  To help grow businesses in the region?  What could be done to help foster the growth of businesses, which will lead to a growth in the population of the region (finally) instead of the perpetual stagnation/decline?       

^Figure out what went on 1990-1998, (The last time the region actually grew) and replicate it!

I'm thinking this is some sort of wonky statistical issue. This year we're showing an increase in the number of jobs, but a decrease in the number of people employed, according the BLS numbers.  Last year, it was the opposite, we were showing more people employed, but fewer jobs.  Neither of these make sense, they should vary together.

 

Very true. That kind of data disconnect often doesn't make sense until 10 years or more has passed and then it can be better understood in a historical context. A lot of things are difficult to get one's head around until some time has passed. It should be said, however, that there are some pretty remarkable shifts going on right now in Cleveland and nationwide in terms of demographics, household and community economics, technology and more. With so much in a state of flux, it's a tremendous opportunity to reposition oneself or your community. But to what? So it carries a ton of risk, too. Interesting times.

I think we're underestimating just how many people are retiring in the region. The boomers are quickly reaching retirement age. I'm one of the youngest employees where I work at. We have people retiring left and right, and we can't replace them fast enough. I have a feeling this is what is happening but may not be a bad thing at all. Say all these people are retiring. Some of their positions may be lost to attrition, but a lot of them have to be replaced. That gives the younger generations way more job opportunities, and they, for the most part, the generation that is beginning to repopulate the city. I'd look to see a lot more workplaces start getting younger and the population of downtown, UC, Ohio City, Tremont, Detroit Shoreway, Asiatown, etc continue to expand. As a result, we may start to see neighborhoods like St Clair Superior, Slavic Village, Cudell, And Collinwood start attracting more artists that are leaving those neighborhoods. Believe it or not, we may have the beginning of gentrification in a select few neighborhoods. Let's remember that Our region spiked during the boomer era. I have a feeling this trend will continue which is a good thing

I think we're underestimating just how many people are retiring in the region. The boomers are quickly reaching retirement age. I'm one of the youngest employees where I work at. ...

 

This is what Ive been thinking for awhile that i think doesnt get looked at enough. Demographics have a huge part of whats going on in Cleveland, and Ohio as a whole. Alot of young people left the city and state in search of jobs and just a warmer climate so weve ended up with a workforce that i think tends to be older than average, and now that the boomers have started to retire in mass, were going to see the labor force drop.

Cleveland has $50.5 million budget surplus in 2013 from job growth, but most spent on new costs

 

CLEVELAND, Ohio -- The city entered 2013 with an unanticipated $50.5 million surplus because of job growth in the city, Mayor Frank Jackson announced today.

 

But most of that money already is spoken for, as the city makes up for a projected $30 million loss from other sources of money, including a dip in property and estate tax collections and a decrease in state funds that help pay for police and local government, the mayor said during a meeting with Plain Dealer reporters and editors.

 

http://www.cleveland.com/cityhall/index.ssf/2013/02/cleveland_has_505_million_budg.html#incart_river_default

am i reading this crains blurb right that eaton moved its hq to ireland last year? plz splain:

 

 

Eaton said it will refer to the Beachwood building as “Eaton Center.” The company's headquarters now is in Dublin, Ireland, following its acquisition of Cooper Industries of Ireland last year. The diversified industrial manufacturer said it will house about 700 employees at the new Beachwood building in the Chagrin Highlands corporate office park.

 

The structure houses employees from downtown, its learning and technology center in Willoughby Hills and a telecommunications center in Eastlake. Eaton said it has about 1,800 employees at 10 Cleveland-area locations.

 

Yep, Eaton is now an Irish corporation for tax purposes. Although, headquartered might not be the right word for it, because it implies more bodies, authority, and responsibility than probably actually exists on the ground there. They probably have a paper subsidiary in the Netherlands funneling money to the Caribbean as well.

diversified indeed! thx for splainin. unfortunately tho that means another lost hq. hopefully thats only technically speaking and for tax purposes as you say.

 

^Unless you work for the IRS, no HQ was lost.

am i reading this crains blurb right that eaton moved its hq to ireland last year? plz splain:

 

 

Eaton said it will refer to the Beachwood building as “Eaton Center.” The company's headquarters now is in Dublin, Ireland, following its acquisition of Cooper Industries of Ireland last year. The diversified industrial manufacturer said it will house about 700 employees at the new Beachwood building in the Chagrin Highlands corporate office park.

 

The structure houses employees from downtown, its learning and technology center in Willoughby Hills and a telecommunications center in Eastlake. Eaton said it has about 1,800 employees at 10 Cleveland-area locations.

 

Their local manufacturing is expanding.  I've had a couple former coworkers apply there and we are quoting business.

In my travels to/from Europe, I've often been seated around people from Ireland coming to Cleveland to do business with Eaton. Yet we still have no direct flight to Europe, especially the UK or Ireland.

^The Cleveland Clinic also does a ton of business with Ireland.  A once a week flight would be awesome, I would go to Ireland if a direct flight was available.

This is good news if you look at it from the perspective of manufacturing coming back; however, how many jobs will be produced is the question:

 

Cleveland's manufacturing industry roaring back, expected to surpass national growth rate

 

By Robert L. Smith, The Plain Dealer

on February 18, 2013 at 6:30 AM, updated February 18, 2013 at 10:19 AM

 

CLEVELAND, Ohio -- Clevelanders don't need a study to tell them that a hard-working region bled manufacturing jobs for the last 20 years. They see the reminders -- the empty factories and the rusty rails -- every time they drive through the old neighborhood.

 

They do need a persuasive argument, maybe, to begin to believe that manufacturing is on the rebound and that making things will again become a regional forte they can bank on.

 

According to an analysis being released today by Team NEO, manufacturing output has returned to something near 1990 levels in Northeast Ohio and is ready to blow past historic markers. By the year 2020, the value of goods made, stamped, soldered or assembled here will have increased by nearly 40 percent, outpacing the national growth rate.

 

More at: http://www.cleveland.com/business/index.ssf/2013/02/clevelands_manufacturing_indus.html

So by 2020 we should have a local economy growing jobs. Not necessarily manufacturing, but spin off activity. I'll take it!

Damn good read...

 

Geis brothers build foothold in Cleveland, bringing their family business from the suburbs to the city

 

CLEVELAND, Ohio -- Erwin and Katherine Geis found the American dream in Northeast Ohio, where they arrived from Germany in the 1960s with suitcases, empty pockets and a hunger for something different.

 

Nearly 50 years later, the Geis name hangs on a construction fence at one of downtown Cleveland's most important intersections, where their sons are building a new government headquarters for Cuyahoga County and tackling one of the city's largest redevelopment projects.

 

http://www.cleveland.com/business/index.ssf/2013/07/geis_brothers_build_foothold_i.html?utm_source=dlvr.it&utm_medium=twitter

For third month straight, Greater Cleveland leads metro areas nationally in job loss

CLEVELAND, Ohio - For the third month in a row, Greater Cleveland led the nation with the most jobs lost in a metro area, the Labor Department reported Wednesday.

 

The Cleveland-Elyria-Mentor metro area had the largest decrease in employment, with 4,500 fewer jobs in July 2013 compared with July 2012. Cleveland was also the only one of 37 metro areas, with average employment levels above 750,000 in 2012, to see a percentage decrease in employment. Employment here dropped by 0.4 percent.

 

"All in all, this is an extremely disappointing employment report for Cleveland," said George Zeller of Cleveland, an economic research analyst.

 

http://www.cleveland.com/business/index.ssf/2013/08/for_third_month_straight_great.html

When will the madness cease...

Checking the BLS unemployment report for the Cleveland MSA (not seasonally adjusted), I read:

 

June labor force - 1,061.370 July labor force - 1,075,832

June employment - 979,320 July employment - 997,290

June unemployment - 82,150 July unemployment - 78,539

June unemp. rate - 7.7% July unemp. rate - 7.3%

 

Improvement in every area.

 

Reference: http://data.bls.gov/cgi-bin/surveymost?la

 

The PD is blowing this wayyyy out of proportion. There's more data to the story than being presented. Trust me guys. This is a good trend. All of my friends from Youngstown are coming up here to find jobs. This is all election season BS

Checking the BLS unemployment report for the Cleveland MSA (not seasonally adjusted), I read:

 

June labor force - 1,061.370 July labor force - 1,075,832

June employment - 979,320 July employment - 997,290

June unemployment - 82,150 July unemployment - 78,539

June unemp. rate - 7.7% July unemp. rate - 7.3%

 

Improvement in every area.

 

Reference: http://data.bls.gov/cgi-bin/surveymost?la

 

The PD is blowing this wayyyy out of proportion. There's more data to the story than being presented. Trust me guys. This is a good trend. All of my friends from Youngstown are coming up here to find jobs. This is all election season BS

 

It's worse than way out of proportion. It's flat out wrong. What is the PD up to here????

^PD is reporting year over year change; YO's numbers are month to month, so there's no real contradiction.  I'm not super familiar with the data set, but my hunch is month to month changes are fairly meaningless, and even the year over year changes might be misleading.  Maybe a year over year comparison of a rolling 3 month average or something like that would iron out some of the lumpiness.

 

[Edited for typo correction]

Labor Force:                July 2012- 1,077,564     July 2013- 1,075,829

Employment:              July 2012- 996,371            July 2013- 997,290

Unemployment:          July 2012- 81,193              July 2013- 78,539

Unemployment Rate:  July 2012- 7.5%                July 2013- 7.3%

 

Besides a 1,735 person contraction of our labor force (aging population?, outmigration?) more people are employed and less are unemployed than last year at this time.....So things look better.

 

But hey now!  Don't let me interrupt the regularly scheduled "Cleveland is burning! Exploit bad news because it sells waayy better (even if totally distorted)" show.

 

http://data.bls.gov/cgi-bin/surveymost

Labor Force:                July 2012- 1,077,564     July 2013- 1,075,829

Employment:              July 2012- 996,371            July 2013- 997,290

Unemployment:          July 2012- 81,193              July 2013- 78,539

Unemployment Rate:  July 2012- 7.5%                July 2013- 7.3%

 

Besides a 1,735 person contraction of our labor force (aging population?, outmigration?) more people are employed and less are unemployed than last year at this time.....So things look better.

 

But hey now!  Don't let me interrupt the regularly scheduled "Cleveland is burning! Exploit bad news because it sells waayy better (even if totally distorted)" show.

 

http://data.bls.gov/cgi-bin/surveymost

 

C'mon now, let the PD circle the drain in peace.  They are desperate and need to fan the flames to attract readers who listen to Trivisanno and  Rush, then stock up on gold coins from the Franklin Mint to steady their retirement assets.

 

I'm sure the PD's account rep at Reputation Now is about to scrub this post clean. 

Is the difference that the PD is reporting "jobs", not how many individuals are employed?  One person can have multiple jobs.... potentially dozens if each "corporate hat" counts as a separate "job" for BLS purposes.

 

I suspect the public sector drag is still having the most significant effect on the numbers for NEO.  That is hopefully coming to an end.  First, there was the initial shock of layoffs.  Then the layoffs slowed or ended and the retirement weren't being backfilled 1 for 1.  That strategy for police and fire is going to be tested as all the DROP members in OPF are coming due in bunches over the next 5 years. 

Here: http://bls.gov/news.release/metro.t03.htm

 

Those are the numbers cited by the article. They appear to be right. The PD is not scaremongering, unless the BLS is.

 

It is all in how you want to position things...yes we led the nation in volume of jobs lost, but we're also one of the largest population areas tracked, Top 20. Proportionally-speaking, which is probably the right way to view things, it is a small % drop that doesn't place us anywhere near the worst.

It is all in how you want to position things...yes we led the nation in volume of jobs lost, but we're also one of the largest population areas tracked, Top 20. Proportionally-speaking, which is probably the right way to view things, it is a small % drop that doesn't place us anywhere near the worst.

 

How is "lost jobs" tracked?  Employment at a company?  Or layoffs?

 

We have had a certain amount of turnover, usually newer people leaving lately.  But we have a higher overall head count.

Is the difference that the PD is reporting "jobs", not how many individuals are employed?  One person can have multiple jobs.... potentially dozens if each "corporate hat" counts as a separate "job" for BLS purposes.

 

Correct (on you first sentance). The PD numbers are employee counts reported by a statistically significant sample of businesses ("establishments") surveyed by th BLS. SixthCity's numbers are from the BLS survey of households, through which adults report their employment status. They often seem to diverge in weird ways that very likely are due to the different collection methods (error bars, different survey timing?) but who knows if the divergence reflects anything real.  I wish the BLS provided more official guidance so we knew how to interpret them better.

Is the difference that the PD is reporting "jobs", not how many individuals are employed?  One person can have multiple jobs.... potentially dozens if each "corporate hat" counts as a separate "job" for BLS purposes.

 

Correct (on you first sentance). The PD numbers are employee counts reported by a statistically significant sample of businesses ("establishments") surveyed by th BLS. SixthCity's numbers ate from the BLS survey of households, through which adults report their employment status. They often seem to diverge in weird ways that very likely are due to the different collection methods (error bars, different survey timing?) but who knows if the divergence reflects anything real.  I wish the BLS provided more official guidance so we knew how to interpret them better.

 

I wonder if they are missing newer "startup" companies, either because they don't know about them or management is too busy to respond.

D@mmit!

 

 

Bank of America to lay off 1,000-plus as it closes two Cleveland-area offices

By RACHEL ABBEY McCAFFERTY

 

Bank of America is closing two Cleveland-area locations, laying off a total of more than 1,000 employees who work in home loan fulfillment and consumer banking services.

 

Bank of America spokesman Terry Francisco confirmed that the two Cleveland-area sites and one in Cincinnati will close by Oct. 31. The affected facilities are:

 

•25900 Science Park Drive in Beachwood. About 650 employees in home loan fulfillment and about 350 to 400 in consumer banking services will lose their jobs.

 

•6100 Oak Tree Blvd. in Independence. There are about 55 employees in home loan fulfillment affected at this location.

 

•8790 Governors Hill Drive in Cincinnati. Another 100 employees in home loan fulfillment will be laid off.

 

http://www.crainscleveland.com/article/20130829/FREE/130829734

Oh that's just f-ing great.  Just great.  I would hope that none of the other banks with a large presence (or even larger) follow suit.

Oh that's just f-ing great.  Just great.  I would hope that none of the other banks with a large presence (or even larger) follow suit.

 

It could be worse.  We could be Charlotte.

^Maybe not in the banking sector, but I think Charlotte's recovered its lost job numbers overall (http://data.bls.gov/timeseries/SMU37167400000000001?data_tool=XGtable) Us, not so much.

 

This is really crappy news.  Will probably blow a decent hole in Beachwood income tax collections till the space can be released.

Though the news of 1000 jobs being lost in the region is bad, looking at the BLS it looks like we're close to having 1 million folks employed in the region- the last time that happened was in 2008.  No where close to where we were at the height of 08... but hey- glass half full.

Pretty bad news, especially considering this was a national that had focused a lot of its Ohio employees in Cleveland. A lot of those people are going to move.

^maybe not. A lot of those jobs were call center positions. Not too hard to find something making comparable money. Still sucks though. I saw this coming BofA still hasn't recovered from 08 and has announced that tens of thousands of workers would be laid off.

Their presence here stems from BOAs takeover of MBNA. It wasn't a conscience decision to have people here.

So raising their bank  fees on checking accounts helped the company, but they still laid off workers?

Help wanted: Local manufacturers have jobs they can't fill because of skills gap

Peter Krouse, Northeast Ohio Media Group By Peter Krouse, Northeast Ohio Media Group

 

 

CLEVELAND, Ohio -- Steris Corp. is trying to bring manufacturing jobs back to Northeast Ohio.

A welcome development by any measure. There's one problem: The maker of medical equipment can't find enough qualified people to fill those jobs, despite promises of good pay and a clean and safe working environment.

 

The unemployment rate in Northeast Ohio has remained stubbornly stuck in the 7 percent range for months. That's thousands of people without jobs. Employers across Northeast Ohio say they have job openings. Many pay $50,000 a year -- or more. And they can't fill them.

 

http://www.cleveland.com/metro/index.ssf/2013/09/skills_gap.html#incart_river

Rosetta lays off undisclosed number of employees in Cleveland

By CHUCK SODER

8:18 am, September 13, 2013

 

Rosetta has laid off an undisclosed number of employees, including some in the downtown Cleveland office of the New Jersey-based interactive marketing firm.

 

Shade Vaughn, director of public relations for Rosetta, said the cuts didn't have a large impact on the Cleveland office: Rosetta employs 401 people in Cleveland today, “about the same number of employees today as we did at the start of the year,” Mr. Vaughn said.

 

On Aug. 26, Rosetta made cuts at multiple offices because it had an excess of employees with certain skill sets, Mr. Vaughn said. That's partly because the company consists of several acquired businesses, each with areas that overlap, he said.

 

READ MORE AT:

http://www.crainscleveland.com/article/20130913/FREE/130919905

That Krouse article about manufacturing is just a rewrite of a PD article from either last year or 2011. They even include the same quotes from Steris.

 

When I find some time, I'll try to pull up its earlier version.

 

A few changes here and there and bammm, a "new" article. This isn't as embarassing as the "Is Sharon Reed Lebron's Baby's Momma" or "Black People Can't Be Racist" classics,  but it's still pathetic.

 

As to the article itself, the cleveland.com commenters are hitting the right issues.

 

As to the article itself, the cleveland.com commenters are hitting the right issues.

 

Yep, same  old same old. 

 

"There's no job shortage. There are merely a shortage of companies who know how to hire."