November 18, 20159 yr Direct-to-Europe container shipping continues to grow, as in 400% year over year. Interesting that some of this new business was being lost simply because we weren't offering it. http://www.cleveland.com/opinion/index.ssf/2015/11/port_of_cleveland_is_proving_i.html#incart_river_home
November 19, 20159 yr FYI: http://www.urbanohio.com/forum2/index.php/topic,1795.msg779072.html#msg779072 No one would provide it because shipping companies couldn't make money on it, unless someone was willing to subsidize it and hopefully be patient to create a market for it. It was a risky move, but it's proving worthwhile. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 19, 20159 yr TransDigm Group agrees to buy New Jersey aerospace company in $206 million deal November 19, 2015 UPDATED 7 HOURS AGO By CRAIN'S CLEVELAND BUSINESS TransDigm Group Inc. (NYSE: TDG) of Cleveland said it has agreed to acquire Whippany, N.J.-based Breeze-Eastern Corp. (NYSE MKT: BZC), a fellow maker and supplier of highly engineered aircraft components, in a deal valued at more than $200 million. Under the terms of the agreement, a TransDigm subsidiary will launch a tender offer to acquire all Breeze-Eastern common stock outstanding for $19.61 per share in cash, which values the transaction at about $206 million. Following the purchase of shares through the tender offer, TransDigm said in a news release that it will complete the deal by acquiring all remaining shares not acquired in the offer through a merger at the same price as the tender offer. MORE: http://www.crainscleveland.com/article/20151119/NEWS/151119755/transdigm-group-agrees-to-buy-new-jersey-aerospace-company-in-206 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 20, 20159 yr Cleveland ranked among cities with highest incomes when adjusted for cost of living http://www.forbes.com/pictures/edgl45hdeg/no-7-cleveland-elyria-oh/?utm_source=hootsuite "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 24, 20159 yr Direct-to-Europe container shipping continues to grow, as in 400% year over year. Interesting that some of this new business was being lost simply because we weren't offering it. http://www.cleveland.com/opinion/index.ssf/2015/11/port_of_cleveland_is_proving_i.html#incart_river_home At what point do we have to be concerned about competition from Buffalo, Toledo, or Detroit? I'm thinking anywhere beyond is limited by having to go around TSUN.
November 24, 20159 yr TSUN? Edit: Just got it... It's that Ohio State fanatic's name for Michigan. That State Up North. I don't see any other port authorities in other cities being as aggressive or willing to take calculated risks in growing their ports. Most seem hamstrung by by politics, fear of change or institutionalized defeatism. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 24, 20159 yr TSUN? Edit: Just got it... It's that Ohio State fanatic's name for Michigan. That State Up North. I don't see any other port authorities in other cities being as aggressive or willing to take calculated risks in growing their ports. Most seem hamstrung by by politics, fear of change or institutionalized defeatism. True. Though I am also concerned about New York attempting to revive their unreasonable bilge water standards that sure seemed to be meant to choke off Seaway traffic.
November 25, 20159 yr ACE Report: October again is time to be grateful for in job market Thanksgiving is in November, of course, but when it comes to creating jobs in Northeast Ohio and statewide, it seems the month we should be most thankful for is October. After several months of weak payroll job gains or modest losses in jobs, Northeast Ohio’s private sector bounced back in October with an estimated gain of 3,034 jobs on a seasonally adjusted basis, according to the latest Ahola Crain’s Employment (ACE) Report. The region’s private sector grew to 1,165,019 jobs in October from 1,161,986 in September. http://www.crainscleveland.com/article/20151125/NEWS/151129849/ace-report-october-again-is-time-to-be-grateful-for-in-job-market
November 25, 20159 yr Danish drug maker buys portion of former Ben Venue plant in Bedford, will hire 170 workers November 25, 2015 UPDATED 2 HOURS AGO By CHUCK SODER A Danish drug maker plans to revive the former Ben Venue Laboratories complex in Bedford — and hire 170 new employees in the process. Xellia Pharmaceuticals of Copenhagen announced it has acquired “substantial parts of the site” from Hikma Pharmaceuticals, a British company that bought the massive complex in 2014 after Ben Venue shut it down. The acquired buildings include “several new manufacturing units” that Xellia plans to use. The company plans to begin manufacturing sterile injectable drugs within those units over the next 24 months. During that time period, it also plans to hire 170 people “across a range of departments including: manufacturing, supply chain, distribution, quality, engineering, human resources and finance,” according to a news release from the company. MORE: http://www.crainscleveland.com/article/20151125/NEWS/151129851/danish-drug-maker-buys-portion-of-former-ben-venue-plant-in-bedford "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 25, 20159 yr Danish drug maker buys portion of former Ben Venue plant in Bedford, will hire 170 workers November 25, 2015 UPDATED 2 HOURS AGO By CHUCK SODER A Danish drug maker plans to revive the former Ben Venue Laboratories complex in Bedford — and hire 170 new employees in the process. Xellia Pharmaceuticals of Copenhagen announced it has acquired “substantial parts of the site” from Hikma Pharmaceuticals, a British company that bought the massive complex in 2014 after Ben Venue shut it down. The acquired buildings include “several new manufacturing units” that Xellia plans to use. The company plans to begin manufacturing sterile injectable drugs within those units over the next 24 months. During that time period, it also plans to hire 170 people “across a range of departments including: manufacturing, supply chain, distribution, quality, engineering, human resources and finance,” according to a news release from the company. MORE: http://www.crainscleveland.com/article/20151125/NEWS/151129851/danish-drug-maker-buys-portion-of-former-ben-venue-plant-in-bedford Well that's good news. The place grew explosively during the few years before they had their problems that led to the shutdown. Probably too fast.
December 7, 20159 yr Commercial loans thriving as Northeast Ohio economy picks up Creative strategies are helping business loan growth improve December 06, 2015 UPDATED 3 HOURS AGO By JEREMY NOBILE A strong economy in Northeast Ohio is helping further the ongoing expansion of commercial loan portfolios as banks strategically target the larger business segment. Some of the biggest regional banks in Cleveland are reporting loan growth even stronger here compared to elsewhere in their reach. Fifth Third Bank’s commercial loan portfolio in Northeast Ohio has grown about 12% over the last year, said Jerry Kelsheimer, the bank’s CEO for Northeastern Ohio, compared with about 5% for the bank overall. The dollar amount of those loans, meanwhile, has grown 50%. That growth underscores an ongoing trend of strong commercial lending activity among banks overall. MORE: http://www.crainscleveland.com/article/20151206/NEWS/151209868/commercial-loans-thriving-as-northeast-ohio-economy-picks-up "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 10, 20159 yr GE Lighting leader Maryrose Sylvester moving to Boston December 10, 2015 By CHUCK SODER The woman in charge of GE Lighting said she’s in the process of moving to Boston, having been tapped to lead a new GE business unit based in that city — a unit tasked with commercializing some of GE Lighting’s biggest ideas. But Maryrose Sylvester, who is CEO of the new Current energy business, noted that “Cleveland remains the hub of all our LED lighting activity.” Sylvester also said she remains in charge of both Current and GE’s other lighting activities, a segment being referred to as Consumer and Conventional Lighting. MORE: http://www.crainscleveland.com/article/20151210/NEWS/151219972/ge-lighting-leader-maryrose-sylvester-moving-to-boston#utm_medium=email&utm_source=ccl-dailynews&utm_campaign=ccl-dailynews-20151210 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 10, 20159 yr ^Disappointed GE's not running all lighting-related units out of Nela Park. Their campus has some vacant buildings as the number of employees at Nela Park has shrunk in half since the 1990s. LED's are a game-changer in the lighting industry but have been disruptive to GE Lighting's business model.
December 11, 20159 yr Article from Brent Larkin about the proposed budget cuts at NASA Glenn. The money would be shifted to facilities in Alabama and/or Maryland. NASA Glenn is hugely important to the region. Fight for NASA Glenn dollars involves high stakes for Cleveland All those scientists at NASA Glenn Research Center are helping take the town back to the future. It's the officeholders in Washington who seemingly want to make sure Greater Cleveland is stuck in the past. The people we send there — the ones who live off our tax dollars — had better make sure that doesn't happen. But before Congress blows a 10 percent hole in NASA Glenn's $581 million budget, members might want to consider the thoughtful words of America's greatest living space hero. ... http://www.cleveland.com/opinion/index.ssf/2015/12/fight_for_nasa_glenn_dollars_i.html
December 11, 20159 yr I totally missed the story about Xilia Pharmaceutical taking over Ben Venue. That is definitely positive news for Bedford. I had figured that facility wouldn't be vacant for long with all the money in Pharmaceuticals and the effort it takes to get a new facility built of that type. They do anti-bacterial drugs. I wonder if they are expecting to be able to grab engineers and scientists from Gojo.
December 18, 20159 yr This piece about the distance between cheap housing and jobs features an interesting Cleveland area map. The "opportunity index" color coding suggests Lakewood is part of a vast misery zone, while Fairview Park is brimming with employment. Also, Hinkley and Burton are hotbeds of opportunity. Who knew! http://www.theatlantic.com/business/archive/2015/12/affordable-housing-jobs/421203/
December 18, 20159 yr The press reporting is shoddier than the underlying research (as is often the case). In the underlying research (according to the report itself), proximity to high paying jobs made up only 20% of the location scoring. The total score is a much broader measure of quality of life for families, so includes lots of other things (crime, schools, commuting times, proximity to grocery stores, SES of population, etc.). The dumbest thing about the report is the map, because without any indication of population density, the lack of affordable housing in many "high opportunity neighborhoods" is pretty misleading. The overall take-away is sound, though, and nothing we didn't already know.
December 18, 20159 yr I wonder if the researcher first tried out this methodology on his/her city, or on a city he/she knew. That way, if there are some anomalies, they would be readily apparent and they could go fiddle with their algorithms or rules. BTW, while not in Fairview Park, Fairview General Hospital is very close and is probably the source of the "high-paying" jobs.
December 18, 20159 yr It goes without saying that location scoring methodologies for something as nebulous like "opportunity" or "quality of life" are always pretty blunt and superficial, so even if there is some overall meaning to the conclusions, the specificity shown in the maps is kind of silly. Also, the report used as one component the renter share of all occupied units, but doesn't explain why it thinks that's useful. That part is sort of surprising, especially coming from CAP.
December 22, 20159 yr Author The BLS has the Cleveland region at 3.7 percent unemployment, which could be considered "full employment" in different times. We have a long way to go, however. Going back to 1990 on forward, the number of employed is at about the level it was in 1995, while the labor force has shrank to about the same number as 1993. The good news is that both numbers are headed in the right direction. Labor Force: Employment: Unemployment:
December 22, 20159 yr The BLS has the Cleveland region at 3.7 percent unemployment, which could be considered "full employment" in different times. We have a long way to go, however. Going back to 1990 on forward, the number of employed is at about the level it was in 1995, while the labor force has shrank to about the same number as 1993. The good news is that both numbers are headed in the right direction. Labor Force: Employment: Unemployment: Also, Cleveland area job growth was a solid 1.8% y-o-y over the last two months. Strongest two month period in quite some time.
January 7, 20169 yr Five Midwest CRE markets to watch in 2016 January 07, 2016 | Dan Rafter The Midwest is fortunate to be home to several cities that are in the middle of commercial real estate booms. But five metropolitan areas area poised to have particularly big 2016s. A combination of low unemployment rates, a boom in spec construction, demand for downtown living and skilled work forces make these five markets ones to watch in 2016.... Cleveland: It wasn’t too long ago that Cleveland’s downtown resembled a ghost town. Empty office buildings and abandoned retail storefronts littered the area. See more at: http://www.rejournals.com/2016/01/07/five-midwest-cre-markets-to-watch-in-2016/#sthash.c2iDwHeZ.dpuf "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 7, 20169 yr ^Difficult to put any credibility in an analysis that states our downtown's revival is "thanks to a booming new convention center and casino."
January 7, 20169 yr I wouldn't call it a proximate cause but the casino certainly hasn't hurt. It's a 24-hour general draw right in the heart of downtown. Even if it hasn't performed to expectations financially, it has lit up an area that was dark for too long.
January 7, 20169 yr ^Difficult to put any credibility in an analysis that states our downtown's revival is "thanks to a booming new convention center and casino." Or BRT (ducking fire)
January 7, 20169 yr ^Difficult to put any credibility in an analysis that states our downtown's revival is "thanks to a booming new convention center and casino." It's dressed up like analysis, but it's really just trade journal fluff.
January 8, 20169 yr It's dressed up like analysis, but it's really just trade journal fluff. Yeah, but it got youse guys talkin'. :) "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 12, 20169 yr CoverMyMeds leaving Twinsburg for Highland Hills, plans to hire 25 January 11, 2016 By CHUCK SODER CoverMyMeds is leaving Twinsburg for an office in Highland Hills that’s three times larger than its existing space. The larger space at 22901 Millcreek Blvd. will allow the fast-growing health care software company to hire another 25 people in Northeast Ohio over the next three to five months, most of whom will be software engineers. CoverMyMeds then will employ about 50 people in this region. Doctors and other prescribers use the company’s software to electronically ask insurance companies whether a patient's medication is covered — which traditionally was a laborious process involving phones and fax machines. That software has been popular: The 8-year-old company’s sales reached $100 million last year. MORE: http://www.crainscleveland.com/article/20160111/NEWS/160119972/covermymeds-leaving-twinsburg-for-highland-hills-plans-to-hire-25 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
January 27, 20169 yr The lighting might be on the wall for GE Lighting in East Cleveland. I guess it wouldn't come as that big of a shock. GE is divesting itself from consumer electronics and appliances. It was obvious something was up when they established the "Current" division in Boston and moved the GE Lighting CEO there. http://www.crainscleveland.com/article/20160127/BLOGS03/160129835/bloomberg-ge-might-be-ready-to-shed-its-legacy-lighting-business Bloomberg: GE might be ready to shed its legacy lighting business Bloomberg calls into question the future of General Electric Co.’s lighting business, which is based in East Cleveland. "After agreeing to jettison its century-old home-appliances division this month" to China’s Qingdao Haier Co. for $5.4 billion, the news service says, GE "may now shed its legacy business that sells lighting to retail customers. While GE continues to make bulbs for consumers, it's concentrating on technologically advanced industrial and commercial lighting products — like a streetlamp that calls authorities when a gun is fired." (The story does not identify any potential buyers by name.) ...
January 27, 20169 yr Author ^If that happens, we can kiss E.C. goodbye. I don't think the city can absorb that much of an impact on income taxes.
January 27, 20169 yr The lighting might be on the wall for GE Lighting in East Cleveland. I guess it wouldn't come as that big of a shock. GE is divesting itself from consumer electronics and appliances. It was obvious something was up when they established the "Current" division in Boston and moved the GE Lighting CEO there. http://www.crainscleveland.com/article/20160127/BLOGS03/160129835/bloomberg-ge-might-be-ready-to-shed-its-legacy-lighting-business Bloomberg: GE might be ready to shed its legacy lighting business Bloomberg calls into question the future of General Electric Co.’s lighting business, which is based in East Cleveland. "After agreeing to jettison its century-old home-appliances division this month" to China’s Qingdao Haier Co. for $5.4 billion, the news service says, GE "may now shed its legacy business that sells lighting to retail customers. While GE continues to make bulbs for consumers, it's concentrating on technologically advanced industrial and commercial lighting products — like a streetlamp that calls authorities when a gun is fired." (The story does not identify any potential buyers by name.) ... Probably inevitable. It does seem that a company which does no domestic manufacturing is more likely to locate in a downtown area than one which does. Purely anecdotal and by no means a rule, but that's the tendency. GE of course is making that move.
January 27, 20169 yr ^GE will continue to do lots of domestic manufacturing even after shedding its appliance and legacy lighting businesses.
February 4, 20169 yr Author Two stories highlighting something we've known here for a while. This is the first... Cleveland in Top 10 of least competitive metros for job growth (interactive map) By Olivera Perkins, The Plain Dealer Email the author | Follow on Twitter on February 04, 2016 at 7:00 AM, updated February 04, 2016 at 8:36 AM CLEVELAND, Ohio – Greater Cleveland ranks among the Top 10 Least Competitive Metros for job growth, according to an analysis released Thursday. The analysis by Economic Modeling Specialists Intl., or Emsi, a CareerBuilder company, ranked the 150 most populous metro areas based on job growth between 2014 and 2015. "Each metro's actual job growth was then compared to what would have been expected for that metro based on national job growth trends during that same time period," stated a press release about the analysis. "The difference between the two measurements is the competitive effect, i.e., how much the metro is exceeding, matching or falling behind national job growth trends because of something unique to that metro's regional economy." http://www.cleveland.com/business/index.ssf/2016/02/cleveland_in_top_10_of_least_c.html#incart_river_home_pop This is especially frustrating as we watch sections of the city rot away with no population to replace what's lost, in a region which is continuing to sprawl without growth. Cuyahoga County will no longer be the largest County population wise in the state by the next census, and it's largest cities continue to lose population. I don't know what other wake-up calls this region needs in order to get it together.
February 4, 20169 yr Author And the second... Cleveland won't recover recession job losses until 2018: Columbus and Cincinnati have rebounded By Olivera Perkins, The Plain Dealer Email the author | Follow on Twitter on February 04, 2016 at 8:05 AM, updated February 04, 2016 at 8:39 AM CLEVELAND, Ohio – Greater Cleveland won't recover all its recession-era job losses for nearly two more years, according to a recent analysis. Both Columbus and Cincinnati already have regained the jobs each metro area lost, says the United States Conference of Mayors' report, which is based on Labor Department and other government data. The three metro areas, each with more than 1 million jobs, represent Ohio's largest labor markets. Though the Cleveland area lags its large metro counterparts in recovering jobs, it will bounce back before some other areas in the state. For example, the Dayton and Toledo areas aren't projected to recover their lost jobs until after 2021. http://www.cleveland.com/business/index.ssf/2016/02/cleveland_wont_recover_recessi_1.html#incart_river_home
February 4, 20169 yr How about a third article? Sad truth: Leaving Ohio helped Phenom get into 500 Startups February 04, 2016 UPDATED 5 HOURS AGO By CHUCK SODER Phenom probably wouldn’t have ended up joining the highly praised 500 Startups business accelerator if the company’s founders had stayed in Cleveland. The company, which has developed a mobile app for athletes, got into the accelerator partly because of a connection CEO Brian Verne made over a cup of coffee — after moving to San Francisco. Verne praised the progress made by Northeast Ohio’s community of startup companies, but he noted that there are still certain advantages that tech entrepreneurs get from living in a city with a red-hot startup scene. MORE: http://www.crainscleveland.com/article/20160204/NEWS/160209904/sad-truth-leaving-ohio-helped-phenom-get-into-500-startups "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 7, 20169 yr Greater Cleveland continues to rank highly nationwide in the growth of construction jobs. https://www.agc.org/sites/default/files/Files/Communications/Metro_Empl_201512_Rank.pdf "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 7, 20169 yr ^interesting. After weeding out little places (like Saginaw, MI), Cleveland is actually the second city on the list, after Honolulu.
February 8, 20169 yr ^interesting. After weeding out little places (like Saginaw, MI), Cleveland is actually the second city on the list, after Honolulu. How much of this is RNC influenced?
February 8, 20169 yr ^ I think the RNC impact is over-stated. In fact, there are a lot of people holding off on construction until after the RNC, since there will be a freeze on construction for that week anyway.
February 8, 20169 yr ^ I think the RNC impact is over-stated. In fact, there are a lot of people holding off on construction until after the RNC, since there will be a freeze on construction for that week anyway. I don't know, there's what at least 10 hotel projects in the region right now, all trying to get done by the RNC. Cleveland was gaining interest as a destination prior to RNC announcement, but that announcement may have accelerated the construction process.
February 8, 20169 yr Several new buildings are holding off in their groundbreakings until August. That might actually help major trades like ironworkers, excavators and pipefitters plan their hiring/training in advance. If several skyscrapers (plus several shorter building under 20 stories) are going to go up simultaneously, as it appears, I couldn't imagine how many workers are going to be needed. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 9, 20169 yr The problem isn't that there aren't enough jobs in Cleveland... Coding boot camps are helping to fill open computer jobs in Cleveland http://www.freshwatercleveland.com/features/codingprograms020416.aspx "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 10, 20169 yr Anyone work for Sherwin Williams? My friend who does believes a that internally there is an understanding that they will be announcing new office space in the near future. Specifically mentioning new construction downtown
February 10, 20169 yr Anyone work for Sherwin Williams? My friend who does believes a that internally there is an understanding that they will be announcing new office space in the near future. Specifically mentioning new construction downtown Please be a new tower. Please be a new tower. Please be a new tower. EDIT: remember this article that mentioned S-W is strapped for space and had expanded into the Skylight Office Tower? http://www.cleveland.com/business/index.ssf/2015/09/forest_city_sells_skylight_off.html I'm betting the "banner space" is where they will build... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
February 10, 20169 yr My guess is Weston's warehouse district proposal. Sounds like Nucleus is farther off than we had hoped.
February 10, 20169 yr why not the NW quadrant of Public Square? I thought they indicated before they wanted to be close to their lab on the river, which is right behind Tower City.
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