Author Topic: Cleveland: General Business & Economic News  (Read 110958 times)

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Online Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2910 on: September 08, 2018, 01:36:00 PM »
There's a good interview in Crain's Cleveland with Lisa Vo, evp of the I-X Center.  She mentioned that I-X produces its own shows aimed at the general public to fill (profitably) the gaps between more traditional conventions and expositions.  I was wondering why the county facilities downtown couldn't do this to eliminate their smallish operating losses. Is there a legal prohibition against the Huntington Center/Global Center for etc. doing this, i.e. competing with private business?

http://www.crainscleveland.com/real-estate/qa-lisa-vo-executive-vice-president-international-exposition-i-x-center

There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2911 on: September 10, 2018, 08:42:00 AM »
See home values by neighborhood in your town: Cuyahoga County reappraisal 2018
https://www.cleveland.com/expo/news/erry-2018/09/39f428cbca3965/see-home-values-by-neighborhoo.html#incart_2box



I guessed right, that little stretch in Maple near Walton Hills is Longvale, the houses there were built in the 80s or 90s.  Everything else is from the 50s.

But what the bleep on the design of that page?   Loading the whole thing instead of hyperlinking each town?   Not only is it cumbersome they get fewer hits.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2912 on: September 10, 2018, 12:13:21 PM »
An economic indicator?

September 09, 2018 04:00 AM UPDATED 2 HOURS AGO
CBRE Group adds jobs to keep up with growth
STAN BULLARD

CBRE Group Inc. is in expansion mode in Northeast Ohio.

When it comes to a company that already dominates the region's commercial real estate brokerage and real estate services marketplace by any measure, according to data from the CoStar online real estate reporting service, it makes waves.

CBRE's Cleveland and Akron offices have added a total of more than a dozen professionals so far this year, according to David Browning, the CBRE managing director who oversees both offices.

"These are all additional positions due to the growth of our practice," Browning said in an interview.

MORE:
http://www.crainscleveland.com/real-estate/cbre-group-adds-jobs-keep-growth
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline surfohio

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Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2914 on: September 10, 2018, 09:03:12 PM »
I'm surprised they didn't mention the address of their Cleveland location.... 3133 Chester Ave.
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline Htsguy

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Re: Cleveland: General Business & Economic News
« Reply #2915 on: September 10, 2018, 09:20:09 PM »
^^Without knowing the details (although reading between the lines I would imagine they are going to be paying practically nothing in rent) I am surprised a company like this would be looking to relocate in the burbs.  I used them once for a pretty large job (they do great work) and they gave off such a hip urban vibe that I felt uncomfortable sitting in the reception area.

I note in the article they are holding a job fair in conjunction with their relocation.  I wonder if they lost a fair number of employees who had no interest in relocating to Eastlake or even actually know where it is.

Offline mu2010

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Re: Cleveland: General Business & Economic News
« Reply #2916 on: September 11, 2018, 07:16:41 AM »
Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building.

We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.

Offline E Rocc

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Re: Cleveland: General Business & Economic News
« Reply #2917 on: September 11, 2018, 08:26:29 AM »
Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building.

We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.

It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away.

Offline roman totale XVII

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Re: Cleveland: General Business & Economic News
« Reply #2918 on: September 11, 2018, 09:09:11 AM »
Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building.

We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.

It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away.

Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there.

Offline 327

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Re: Cleveland: General Business & Economic News
« Reply #2919 on: September 11, 2018, 09:34:48 AM »
Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building.

We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.

It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away.

Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there.

Standard practice for them.

Offline Pugu

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Re: Cleveland: General Business & Economic News
« Reply #2920 on: September 11, 2018, 10:34:09 AM »
I've used Jakprints a few times; I'll probably never use them again given this move out of the city. Hot Cards is at 24th & Superior. I'll go there from now on.

Offline surfohio

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Re: Cleveland: General Business & Economic News
« Reply #2921 on: September 11, 2018, 11:16:29 AM »
I note in the article they are holding a job fair in conjunction with their relocation.  I wonder if they lost a fair number of employees who had no interest in relocating to Eastlake or even actually know where it is.

I suspect you're right on this.

Offline gpodawund

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Re: Cleveland: General Business & Economic News
« Reply #2922 on: September 11, 2018, 01:41:51 PM »
Knowing nothing about the company, the vibe I picked up from the article is that they really wanted that building.

We are entering the era of adaptive reuse of big box stores - which will be a boom for the Eastlakes of the world.

It might be worth noting that this particular Wallyworld was replaced by a larger one a couple blocks away.

Literally right next door. There's like 30 yards between the back wall of old one and the side wall of the new one. Not sure what the story was there.

Standard practice for them.

I actually grew up in Eastlake and can provide a little history on this. 

The building that Jakprints is moving into is actually the second Walmart building in that approximate location. Originally, there was a smaller Walmart in the same lot that was perpendicular to the building there now and more aligned with the other shops in that plaza. Some time in the 2000s I believe they tore down the old building and built the one that sits empty now.

The big building that is 30 yards away used to be a K-Mart, and my dad was convinced that Walmart built their new building that way in order to "choke off" K-Mart from the rest of the plaza because Walmart had designs on the building. I think that's a little silly considering you can still easily get to the other building without leaving the plaza, but evidently they did have designs on the building because as soon as the K-Mart went under they bought the building and converted it into an even bigger Walmart Supercenter and just left their old building sitting empty for years.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2923 on: September 11, 2018, 04:54:21 PM »
September 11, 2018 01:26 PM 3 HOURS AGO
Align Capital buys Cleveland's Predictive Service, merges it with Lewellyn Technology
JEREMY NOBILE

Align Capital Partners has acquired Cleveland-based enterprise asset management firm Predictive Service, merging it with its Indianapolis-based portfolio company Lewellyn Technology.

Terms of the deal were not disclosed.

Predictive's main product is ViewPoint, a proprietary enterprise asset management platform that provides data collection and analysis for customers' maintenance and repair needs. The software allows plant managers to prevent equipment failure and manage energy and cost-saving efforts in real time, according to the firm.

Founded in 2002, Predictive has offices in Hong Kong and Boston in addition to its Cleveland headquarters. The firm is privately held but was listed on the Inc. 5000 fastest-growing companies in 2014 (at No. 2,994) after recording 2013 revenues of $14.2 million, a 120% increase at that time over 2010. The firm had 118 employees at that time. It has about 103 today.

MORE:
http://www.crainscleveland.com/finance/align-capital-buys-clevelands-predictive-service-merges-it-lewellyn-technology
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline Oldmanladyluck

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Re: Cleveland: General Business & Economic News
« Reply #2924 on: September 12, 2018, 10:39:50 AM »
Looking at the BLS statistics, as long as we don't enter a recession Cleveland should break back into 2002 recession levels (the good news).  The sobering news is that we've lost 2 decades of growth from the 2002 recession, the 2008 recession, then the long (ongoing) restructuring of our economy and recovery. 



We've had an uptick in manufacturing during the Trump administration, up over 5% year-over-year, which is helping push the overall employment numbers.  Hopefully the growth in the overall local economy continues.

 

Online Dougal

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Re: Cleveland: General Business & Economic News
« Reply #2925 on: September 12, 2018, 11:20:41 AM »
It's not monumental, but my son's small business did a cost analysis and moved their receiving, warehousing, and shipping functions from suburban Wash DC (Hyattsville, MD) to Cleveland. 
There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2926 on: September 12, 2018, 11:22:15 AM »
Tell all your friends! Come to Cleveland! :)
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline Mendo

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Re: Cleveland: General Business & Economic News
« Reply #2927 on: September 12, 2018, 04:42:51 PM »
Another large local company may be bought out in 2021. Stanley Black & Decker buys a 20% stake in MTD, with an option on the remaining 80% in 2021.

https://www.prnewswire.com/news-releases/stanley-black--decker-to-acquire-20-percent-stake-in-mtd-products-for-234-million-300710830.html

Quote
Stanley Black & Decker To Acquire 20 Percent Stake In MTD Products For $234 Million

NEW BRITAIN, Conn., Sept. 12, 2018 /PRNewswire/ -- Stanley Black & Decker (NYSE : SWK ) today announced that it has entered into a definitive agreement to acquire a 20 percent stake in MTD Products Inc ("MTD"), a privately held global manufacturer of outdoor power equipment, for $234 million in cash. Under the terms of the agreement, Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021.


Stanley Black & Decker's President and CEO James M. Loree commented, "This investment in MTD increases our presence in the $20 billion global lawn and garden market in a financially and operationally prudent way. We have always viewed outdoor products as an attractive growth category for us to expand our presence beyond handheld electric products. This transaction gives us the opportunity to do that with a world class partner. MTD has a first-rate management team, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them."   

"MTD and Stanley Black & Decker are both proven leaders in our respective industries with iconic brands and world class capabilities," said MTD's Chairman and CEO Robert T. Moll. "We're both passionate about innovation with complementary businesses. Ultimately, this will give us more resources to bring really exciting products to our consumers."

With 2017 revenues in excess of $2 billion, MTD manufactures and distributes lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment for both residential and professional lawn and garden customers. Founded over 85 years ago and headquartered in Valley City, Ohio, MTD's brands include Cub Cadet, Troy-Bilt, and Remington, among others. MTD has state-of-the-art manufacturing facilities in North America, Europe and Asia, and a global distribution network.
...
« Last Edit: September 12, 2018, 04:45:41 PM by Mendo »

Offline Clefan98

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Re: Cleveland: General Business & Economic News
« Reply #2928 on: September 14, 2018, 10:08:33 AM »
The Global Center's current occupancy rate is 85%, and is expected to grow even higher.  The 80% figure that was thrown around earlier on here was before Plug&Play, UPS, and Starbucks leased space.  It was also before Au Bon Pain, a bakery and cafe doubled in size. 




The Global Center for Health Innovation has landed its first startup tenant.

Cleveland-based TPA Stream, a health insurance administration software company, plans to move into 4,500 square feet within the Global Center.

The move is a win for BioEnterprise Corp.: The health care-focused economic development organization aims to turn the downtown Cleveland facility into "an active innovation center" where health care providers, companies and investors can work together on big problems, BioEnterprise CEO Aram Nerpouni stated in a news release announcing TPA Stream's move

http://www.crainscleveland.com/technology/global-center-health-innovation-lands-first-startup-tenant-tpa-stream

Offline MuRrAy HiLL

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Re: Cleveland: General Business & Economic News
« Reply #2929 on: September 15, 2018, 12:15:48 AM »
September 13, 2018 03:01 PM
Manufacturing operation planned for East Side of Cleveland
JAY MILLER

A Washington, D.C., financial consultant who was born in Cleveland's Glenville neighborhood has formed a business to manufacture products from hemp in his old neighborhood.

Ty Williams, CEO of Level 5 Global Consulting Group, is leading a group that has incorporated North Coast Natural Solutions LLC and plans to operate the company in an aging, four-story plant on Kirby Avenue that, he said, will employ 650 people beginning in June 2019.

Williams said he has raised $46 million from private investors, whose names he could not disclose. But it is enough, he said, to get the business off the ground. He said he is continuing to raise money for what he sees will ultimately be a $136 million investment.

http://www.crainscleveland.com/manufacturing/manufacturing-operation-planned-east-side-cleveland


Offline YABO713

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Re: Cleveland: General Business & Economic News
« Reply #2930 on: September 15, 2018, 12:42:34 AM »
^Fantastic news

Offline X

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Re: Cleveland: General Business & Economic News
« Reply #2931 on: September 15, 2018, 03:29:17 AM »
That's a lot of jobs, too!

Offline KJP

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Re: Cleveland: General Business & Economic News
« Reply #2932 on: September 15, 2018, 08:33:30 AM »
Beautiful.
"Treat this (November 2018) election as if it's the last election in which you can fully exercise your democratic rights. Because it just might be." -- Margy Waller.

Offline StapHanger

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Re: Cleveland: General Business & Economic News
« Reply #2933 on: September 15, 2018, 09:16:00 AM »
This smells like a half baked plan unlikely to go anywhere, but hope I'm wrong. From the Cleveland.com article, we might learn soon if there's real juice behind this:

A partner, which Williams said was "a major publicly traded company in the hemp space," will be announced Friday.

https://www.cleveland.com/open/index.ssf/2018/09/hemp_manufacturing_facility_pl.html#incart_2box_business

Offline mu2010

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Re: Cleveland: General Business & Economic News
« Reply #2934 on: September 15, 2018, 10:18:08 AM »
Is it legal to do hemp products now? Crains says in the article it's long been illegal, but mentions nothing about current legal status.

Edit- PD article explains it.

Offline Oldmanladyluck

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Re: Cleveland: General Business & Economic News
« Reply #2935 on: September 19, 2018, 02:43:09 PM »
Cleveland economy outperforms Cincinnati, Columbus in 2017

Clevelandís economy grew more than Cincinnatiís and Columbusí last year,, according to data released Tuesday by the federal Bureau of Economic Analysis.

The data show Cleveland has the largest economy of the stateís metro areas and the 28th largest in the nation.

The Cleveland area has benefited from a comeback in manufacturing. Last yearís growth also was driven by a strong increase in mining and natural resources industries.

The Cleveland economy grew by 2.9 percent last year and was valued at $140 billion.

The Cincinnati economy increased by 2.4 percent in 2017 to $138 billion and the Columbus economy was up 2.1 percent to $136.3 billion. Overall, Cincinnati had the 29th largest economy and Columbus was 30th, according to the analysis, which seeks to measure the total value of goods and services in an area.

http://www.dispatch.com/news/20180918/cleveland-economy-outperforms-cincinnati-columbus-in-2017

Looking at the numbers from the BLS, as long as the trajectory continues Cleveland will be close to finally getting where we were in 2002 within the next few years, quite possibly by 2020 if not 2021.  If that happens, we may see a small rebound in population within the inner city.  Cleveland's 2002 population was around 480,000 though there were parts of the east-side which were beginning to empty out even back then.  Though we've continued to sprawl since then, younger folks are drawn to real urbanism which bodes well for the city in the future.

Also- I'm in Euclid currently and I've been noticing some out of town plates from Virginia and New York here a bit just as many have seen on the west-side and in Lakewood.  And just like you guys, I think it's due to the growing local economy.  Just a heads up from the east!   

Offline simplythis

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Offline bwheats

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Re: Cleveland: General Business & Economic News
« Reply #2937 on: September 21, 2018, 10:55:16 AM »
August numbers published:

Cleveland 27k jobs year over year gain.
Cleveland-Akron-Canton 35k jobs gained.

http://ohiolmi.com/asp/CES/CES_GET.asp

Offline Oldmanladyluck

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Re: Cleveland: General Business & Economic News
« Reply #2938 on: September 21, 2018, 12:52:19 PM »
35k jobs gained for a region of 3.5 million people in a year... not too bad :-)

Offline Clefan98

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Re: Cleveland: General Business & Economic News
« Reply #2939 on: September 21, 2018, 01:06:46 PM »
35k jobs gained for a region of 3.5 million people in a year... not too bad :-)

When you remove the number of people who are seniors and minors that number looks even better!