October 15th, 2012 by Kenny McDonald
We’re pretty big on things in the middle, the Middle West, the middle of Ohio, etc. On October 23rd and 24th, the National Center for the Middle Market and its collaborative partners The Ohio State University’s Fisher College of Business and GE Capital will hold their annual summit here in Columbus. Here are some facts about middle-sized companies in the Columbus Region (companies with revenues more than $10 million/yr., and $1 Billion/yr.).
- The Columbus Region has 56,996 private sector establishments, of which 1,313 (2.3 percent) have middle market (between $10M and $1B) annual revenue/sales (and are not branches of $1B-plus businesses).
- Businesses in key economic sectors (logistics, manufacturing, science and technology, agribusiness, HQ and business services) comprise 18 percent of all private sector establishments in the Region. Among middle market establishments, they comprise 57 percent, a share more than three times higher.
- Logistics and manufacturing in particular have greater shares of the middle market. Thirty percent of middle market establishments are logistics, compared to just 7 percent of all establishments. Seventeen percent of middle market establishments are manufacturing, compared to 4 percent of all establishments.
- The 1,313 companies employ 127,507 people in the Region, or 15.4 percent of overall private sector employment.
- Middle market manufacturers comprise 30 percent of the Region’s manufacturing employment. Middle market logistics firms comprise 24 percent of the Region’s logistics employment.
Columbus 2020 Update
The Columbus 2020 team has arrived and is executing on its mission to Japan with help of some of our public and private partners. Our team has also joined JobsOhio and many of our partners from Ohio at the International Asset Management Council’s meeting in Omaha, NE. Finally, our team will be in Washington D.C. this week with the Brookings Institute launching its metropolitan export strategy with several other areas.
Let’s have a great week!
April 16th, 2012 by Kenny McDonald
According to the 2011 IDC Digital Universe Study the world’s collected information is doubling every two years. The on-demand, information technology, knowledge economy lives and breathes right here in the Columbus Region. A visit to Chemical Abstracts Service (CAS) last week validated that and reminded me once again of the important role the Columbus Region plays in the information economy. If you are a chemist, anywhere in the world, and need to search for information related to molecular data and the patents that surround it, then you turn to CAS and the search products they provide. Powered by AEP’s electricity and brainpower supplied by The Ohio State University (just minutes away), CAS has transformed into a digital giant and a linchpin for global data management and research.
Travel ten minutes in any direction and you will find Battelle, the largest private research organization in the world, The Ohio State University, our nation’s most comprehensive university, and OCLC, or the Online Computer Library Center, the worldwide library system. Columbus businesses such as Manta and Information Control Corporation are organizing this data in meaningful ways for other enterprises, and creating jobs in our region along the way. Just an hour away in Dayton Teradata and Lexis Nexis are working on similarly important issues to aid in the management and storage of information. Add the huge alumni network of graduates from our 50+ college and university campuses in our region and you can begin to see that our region impacts the science and technology community in nearly every corner of the planet.
Columbus 2020 Update
The Columbus 2020 Board of Directors met this past week to discuss the strategy and emerging trends impacting our region’s economy. Growth in the energy, agribusiness, and manufacturing sectors were discussed. Our team and local economic development allies were fortunate to hear from KPMG regarding their recent Competitive Alternatives study – ranking Ohio’s cities as some of the best business locations in the world. Work continues this week with travel to Texas, New York and Boston to meet with businesses and location advisors considering our region.
October 3rd, 2011 by Kenny McDonald
Originality is not doing something no one else has ever done, but doing what has been done countless times, but with new life, new breath. – Marie Chaplan
Steve Jobs famously told the team that created the Macintosh computer to “make a dent in the universe.” What if we leveraged every ounce of talent and resources we had to solve some of the biggest problems in the world? What if for the next decade the Columbus Region tried to “make a dent in the universe?”
Few of the original inhabitants of this Region over 200 years ago would have believed that today the Columbus Region would house some of the most prestigious medical institutions, practitioners and research in the world. Few would have believed that it could become a center of commerce and a transportation hub, literally connecting the east and the western worlds. Certainly few would have believed that nearly 2 million people, more than a dozen of the world’s most important companies, and 140,000 eager scholars would make up the Columbus Region of today. I think we have made quite a dent in the universe already!
This week let’s breathe new life into our everyday activities and strive for excellence in all that we do.
What a week! Deborah Scherer and Matt McCollister just returned from a trip to Japan where they met with over 20 companies and attended the Midwest U.S.-Japan Conference in Tokyo. Representatives from Logan County traveled with the team and joined parts of the trip, including a trip to Honda to pass along our Region’s sincere appreciation for their investments in Central Ohio. Please join me in thanking Matt and Deb for their great effort to set up and successfully execute a great mission to Japan. Japanese companies make up the largest percentage of foreign investment in our Region, and have greatly benefited from our Region’s economy and culture. Matt McQuade traveled to Utah, Nebraska, and Colorado to speak with pro-qualified companies and will be in New York this week to do the same as part of the JobsOhio team. Another group will be in Las Vegas to attend a conference of national real estate advisors, and our team will host yet another site location advisor to the Region to show off the area’s assets.
Thank you to all of the Columbus2020! investors that make these missions possible.
Chief Economic Officer