1. 16 counties 2 million talented workers $170 billion GRP
It all adds up for business.
cleveland plus business.com
2. Ashtabula
Lake
Cleveland Geauga
dynamic and diverse economy
dynamic and diverse economy
Cuyahoga
Trumbull
Lorain
corporate-friendly tax structure
Summit Portage
Youngstown
Medina Akron
Mahoning
low cost
low cost of living
Ashland
Wayne Columbiana
Canton
Richland Stark
Carroll
When you add a rich heritage, plus an
innovative spirit, plus a dynamic and
diverse economy together with genuine
people ready to get the job done, it all
Canada adds up to Cleveland Plus™—one region
that’s the right choice for business. From
Toronto
a corporate-friendly tax structure to a
*300 mi
low cost of living, the Cleveland Plus
Detroit
region features amenities and resources
*180 mi
Chicago New York City that add up to a smart business decision.
*350 mi *450 mi
Washington, D.C.
*350 mi
United States
easy access
easy access to U.S. and Canadian markets
Atlanta
*700 mi
* Distance from
Cleveland Plus
3 clevelandplusbusiness.com
3. HEALTHY BUSINESS PROFILE
+ 2 million talented workers + significant ongoing investment
more than 160,000 businesses
er 160,000 businesses
COMPANY:
“As we have grown our business globally, Timken
equals exponential opportunities
The Timken Company
has been proud to call Northeast Ohio home.
equals exponential opportunities
LOCATION: The consistent combination of a talented
Canton, OH
workforce, a commitment to innovation and
INDUSTRY: a rewarding lifestyle make Northeast Ohio the
Northeast Ohio’s economy is diverse and growing. Building from our proud and profitable heritage in
Friction management and
manufacturing, today our core expertise and opportunities include—
place to turn for great business opportunities.”
power transmission
Biomedical: We are a leader in clinical trials and research commercialization with more than 60
hospitals, including the Cleveland Clinic, 450 bio companies with 230,000 employees, and medical and NUMBER OF EMPLOYEES: Tim Timken
pharma education. 20 percent of all clinical studies conducted in the U.S. are done in Ohio. Chairman
25,000
Medical Devices: Close proximity to significant customers, suppliers and leading-edge research,
coupled with a skilled manufacturing workforce makes this a prime growth sector.
Professional Services (IT, Data and Call Center): A 100 percent fiber network means rapid design
integration, and rich opportunity for data centers and back-office operations.
The Cleveland Plus™ region has the
Polymers: An international polymer hub, Northeast Ohio offers the top polymer science programs in the 7th largest concentration of Fortune
500 companies in the U.S., including—
U.S., the nation’s highest concentration of polymer R&D and the largest concentration of plastics and
Natural Rscs & Mining
rubber product producers, machines and materials in North America. Construction
$1.3
$5.2
Financial Services: Northeast Ohio is home to a Federal Reserve Bank, and is one of only three U.S. cities Other Services
with more than one Money Center Bank headquarters. $3.4
Government
Advanced Manufacturing: 61 percent of Northeast Ohio’s manufacturing sectors have outperformed Leisure & Hospitality
$15.4
the U.S. average in these same sectors. $4.7
Aerospace: With the only NASA center in the northern U.S. along with top aerospace companies, the
region is rich in technological, engineering, metalworking and advanced manufacturing capabilities.
Manufacturing
Advanced Energies:
$37.5
Edu & Hlth Services
Fuel Cell Expertise: Stark State Fuel Cell Prototyping Center and Wright Fuel Cell Group make
$14.6
the region a hub for fuel cell research, development and production.
Wind Potential: A recent Renewable Energy Policy Project study ranked Ohio 2nd among the
50 states in wind component manufacturing potential because of our region’s supply chain. Prof & Bus Services
Our flat land and immense offshore potential with Lake Erie offers wind generation opportunity. $19.4
Our diversified economy is leading to growth in output and opportunity. In addition to these core industries, Trade, Trans, & Utils ®
Northeast Ohio is home to 300 foreign-owned businesses, and to some of the nation’s largest law firms. The $31.9
region is a hub for food processing, where major brands such as Smucker’s, Nestlé, and Pierre Foods operate.
Financial Activities
In 2006, Ohio was recognized by Site Selection magazine as #1 for new and expanded business facilities.
$32.4
Between 2003 and 2006, Cleveland Plus™ has seen more than 650 attraction and expansion projects, creating
tens of thousands of new jobs and generating close to $4 billion in investment. Expansions include—
• TeleTech Holdings, Inc. • Infocision Management Corp. • Progressive Insurance • FirstEnergy
• Rolls-Royce • Ben Venue Laboratories • FedEx • Sterling Jewelers, Inc.
Information
Northeast Ohio: 2007 GRP by Industry Group $5.9
The Cleveland Plus gross regional product is more than $170 billion.
Billions (2006 Dollars)
Annually, Northeast Ohio attracts $450 million in technology and biomedical
venture investment—the most in the Midwest.
4 5 clevelandplusbusiness.com
4. BUSINESS-FRIENDLY CLIMATE
COMPANY:
“From our headquarters in Ohio, Invacare
+ business-friendly + bus
Invacare Corporation
has become the world leader in home
attractive incentives tax structure
LOCATION:
medical products. The state’s new tax
Elyria, OH
attractive incentives
laws will help us continue to grow.”
INDUSTRY:
Medical Equipment
equals a better bottom line
A. Malachi Mixon, III
equals a bette
NUMBER OF EMPLOYEES: Chairman and CEO
6,000
In the Cleveland Plus™ region, you get big city advantages without big city costs.
Tax Incentives
• Ohio Job Creation Tax Credit
• Ohio Job Retention Tax Credit
Ohio’s new tax model promises a reduction in tax burden of up to 63 percent.
• Ohio Research and Development Investment Tax Credit
The new tax reform—
• Ohio Investment In Training Tax Credit
• Phases out corporate income tax • Ohio Manufacturing Machinery & Equipment Investment Tax Credit
• Eliminates tax on inventory, equipment and machinery investments • Technology Investment Tax Credit
• Lowers personal income tax, reduced by 21 percent • Research and Development Sales Tax Exemption
• Exempts sales outside the state from taxation • Manufacturing Machinery and Equipment Sales Tax Exemption
• Exempts the first $1 million in annual gross receipts • Warehouse Machinery and Equipment Tax Exemption
• Warehouse Inventory Tax Exemption
• Enterprise Zones and Community Reinvestment Areas
Ohio Tax Reform Grants
Impact on Recent $150 Million Project
• Wright Centers of Innovation
• Ohio Third Frontier Program
$6,000
• Brownfield Redevelopment Program
$5,000
Port Authorities
Real Property
Tangible Personal Property
19 port authorities in the Cleveland Plus region offering:
$4,000 State Corporate Franchise Tax
• Fixed-rate financing programs
State Commercial Activity Tax
• Off-balance-sheet financing and leasing programs
$3,000 • Infrastructure financing programs
• Foreign trade zones
$2,000
The new tax reform makes Ohio have the lowest taxes in the Midwest.
$1,000
Northeast Ohio’s economic output is the 12th largest in the U.S. and ranks in the
$0
top 50 worldwide.
After Tax Reform
Before Tax Reform
Ohio’s tax reform generates substantial tax savings.
6 7 clevelandplusbusiness.com
5. ROBUST TRANSPORTATION INFRASTRUCTURE
+ 33 Class I railroads airports international airports
+ Class I railroads + 2 international + 2
+ “The area’s competitive business environment,
6 deepwater ports COMPANY:
5 interstate highways service focus and strong technical support
TeleTech Holdings, Inc.
skills make them a natural partner for TeleTech.
LOCATION:
Our global sourcing model supports multinational
Amherst, OH
uals fast-paced, low-cost logistics
clients seeking various levels of business process
equals fast-paced, low-cost logistics
INDUSTRY:
outsourcing support, allowing them to expand
Professional Services
and diversify in markets all over the world.”
NUMBER OF EMPLOYEES:
*The Lorain County facility is the first North American TeleTech
800 regionally
operation to be opened in four years.
50,000 worldwide
Northeast Ohio features one of the nation’s best logistics infrastructures. And the region reaches the largest
number of consumers within a 250-mile radius of any metro market in the U.S. So no matter where business
Brian Delaney
gets done, Cleveland Plus™ will get you there faster and more efficiently.
Executive Vice President of Global Service Delivery
2 airports keep costs competitive and add convenience
• Cleveland Hopkins International Airport
-400 flights daily to over 80 destinations
Cleveland Plus™ Transportation
-Major hub for Continental Airlines
• Akron-Canton Airport
-Second fastest growing U.S. airport
3 foreign trade zones keep businesses competitive in the global marketplace
• FTZ 181 largest in U.S.
• Ranked 2nd in employment
• Ranked 3rd in exports
• Ranked 12th in companies
2 intermodal terminals for fast, efficient shipping
• CSX Intermodal Terminal
• Neomodal Intermodal Terminal
2 international waterway connections
• Lake Erie and St. Lawrence Seaway
• Ohio-Mississippi River System
Northeast Ohio features one of the nation’s best infrastructures according to Logistics
Today magazine.
Columbiana County features direct access to the Ohio River, which accounts for over
one-third of the maritime cargo moving inland in the United States each year—more
cargo per year than the Panama Canal.
8 9 clevelandplusbusiness.com
6. TALENTED, DEDICATED WORKFORCE
27 universities universities2
++ million tale
COMPANY:
“The Cleveland-Akron area affords us
Aleris International, Inc.
2 million talented workers
equals a smar
29 colleges and
access to a sophisticated financial
LOCATION:
Beachwood, OH
and professional community, as well
equals a smart,
INDUSTRY:
as a high-quality workforce.”
Aluminum Manufacturing
productive workforce
NUMBER OF EMPLOYEES: Steven J. Demetriou
6,000 Chairman and Chief Executive Officer
Northeast Ohio features an educated talent base with degrees and Ph.D.s from world-renowned colleges
Colleges and universities located in
and universities offering nationally ranked programs.
the Cleveland Plus™ region—
University of Akron • 26,000 degrees awarded annually
Ashland University • 175,000 degree-seeking students
Baldwin-Wallace College
Colleges and Universities • 28,000 faculty and staff
Bryant & Stratton College
• Case Western Reserve Weatherhead School of Management is ranked the world’s best place
Case Western Reserve University
to study organizational behavior
Cleveland Institute of Art
Cleveland Institute of Music • University of Akron Polymer Science and Polymer Engineering Program is ranked the #2
Cleveland State University
polymer science program in the country
Cuyahoga Community College
• Oberlin College boasts the highest rate of graduates to earn Ph.D.s
Hiram College
ITT Educational Services, Inc.
John Carroll University
Natural Rscs & Mining
Kent State University Construction
1%
Lake Erie College
Total Employment by NAICS Industry Group (2007) 4%
Lakeland Community College
Lorain County Community
The Cleveland Plus™ workforce is comprised
College District
of genuine people with an innovative spirit,
Malone College Government
Other Services
willing to roll up their sleeves and get the
Mount Union College 14%
4%
Myers University job done. Manufacturing
Northeastern Ohio Universities 15%
Colleges of Medicine Northeast Ohio features one of the world’s
Notre Dame College of Ohio
largest financial sectors and one of the Leisure & Hospitality
Oberlin College
nation’s largest legal communities, along 9%
Siegal College of Judaic Studies Trade, Trans, & Utils
with growing professional and technical
Stark State College of Technology 18%
services, skilled laborers and a diverse,
Ursuline College Edu & Hlth Services
multilingual talent base. Our extensive
Virginia Marti College 15%
Walsh University background in advanced manufacturing,
The College of Wooster innovative research and design,
Youngstown State University engineering and maximized productivity
is an ideal combination for growth.
Plus, you’re only a short drive away Information
2%
from other esteemed universities—
University of Cincinnati Prof & Bus Services Financial Activities
University of Michigan 12% 6%
The Ohio State University
University of Pittsburgh
10 11 clevelandplusbusiness.com
7. 3 major sports teams
+ world-renowned arts, culture and health care
UNEQUALED QUALITY OF LIFE
+ a low cost of living
equals a rich, “The quality of life offered by Northeast Ohio
COMPANY:
couldn’t be better for our employees. Housing is
Ben Venue Laboratories, Inc.
3 major league sports teams very affordable with many different community
+ world-renowned arts, culture and health care
LOCATION:
yet affordable, lifestyle
options. The region supports the arts, history,
Bedford, OH
+ a low cost of living culture, entertainment, sports and so much
INDUSTRY:
more, giving many choices to our employees.”
Pharmaceutical
Manufacturing
equals a rich,
Thomas J. Murphy
NUMBER OF EMPLOYEES: President and COO
1,118
yet affordable, lifestyle
Plus, there’s something for everyone—
It all adds up to a unique quality of life in Northeast Ohio.
• Average commute is 24 minutes
Attractions
The Arts
• 120 ethnic communities
• Median home sale price is $138,500
Alpine Valley Ski Resort
Akron Art Museum
• U.S.News and World Report top-ranked hospitals, including Cleveland Clinic, University Hospitals
Amish Country
Akron Symphony
Case Medical Center and Rainbow Babies & Children’s Hospital and Summa Health System;
Blossom Music Center
The Butler Institute of American Art
also known for Akron General Medical Center and Akron Children’s Hospital
Boston Mills/Brandywine Ski Resort
Canton Symphony
Cedar Point
Cleveland Museum of Art
Plus, our region features professional networks and human capital development that connect civic-minded
Cuyahoga Valley National Park
Cleveland Museum of Natural History
individuals with business and community enhancement opportunities.
Firestone Country Club
Cleveland Orchestra
• Regional leadership opportunities for the emerging, current and experienced professional Lake Erie
Stan Hywett Hall and Garden
• Professionals of all ages and experience levels can engage in and lead community groups National Inventors Hall of Fame
Youngstown Symphony Orchestra
• One of the nation’s most philanthropic communities Pro Football Hall of Fame
• More than 25 young professional groups Rock and Roll Hall of Fame
and Museum
Thistledown Thoroughbred Racing
Wine Country
Cost of living is 12–20% below the national average.
Events Professional Sports
Cleveland was ranked the most livable city in the U.S. in 2005 by The Economist.
Cleveland Grand Prix Akron Aeros
Second largest performing arts center in the country behind Lincoln Center in New Cleveland National Air Show Cleveland Browns
York City. Ingenuity Fest Cleveland Cavaliers
National City Home and Garden Show Cleveland Indians
The Cleveland Orchestra is ranked one of the top 3 orchestras in the world. Pro Football Hall of Fame Festival Lake County Captains
Lake Erie Monsters
RTA public transportation voted the best in the U.S. in 2007.
12 13 clevelandplusbusiness.com
