COLUMBUS 2020 A REGIONAL GROWTH STRATEGY FOR CENTRAL OHIO
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- Wilfred Morgan
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2 COLUMBUS 2020 A REGIONAL GROWTH STRATEGY FOR CENTRAL OHIO Vision To achieve the strongest decade of growth in the Columbus Region s history Mission To strengthen the economic base of the 11-county Columbus Region Goals to achieve by the year 2020 Add 150,000 net new jobs in the 11-county region Increase personal per capita income by 30% Generate $8 billion of capital investment Be recognized as a national leader in economic development
3 COLUMBUS 2020 A REGIONAL GROWTH STRATEGY FOR CENTRAL OHIO Business Focus Generate quality economic opportunities for the 11-county region Work with allies to build capacity and capability for future growth Activities Retain and expand companies and industries that call the Columbus Region home today Attract new economic base employers to the Columbus Region Accelerate high-growth enterprises by connecting entrepreneurs with the economic development system Improve civic infrastructure to enhance the economic development environment
4 COLUMBUS 2020 A REGIONAL GROWTH STRATEGY FOR CENTRAL OHIO Support Service Offerings Site Location Assistance Workforce Analysis Talent Acquisition Business Financing Export Assistance Supply Chain Optimization Brand Promotion Access to Incentives Incentive Programs Job Creation Tax Credits R&D Grants/Loans R&D Investment Tax Credits 166 Direct Loans Innovation Loans Workforce Training Grants Economic Development Grants Infrastructure Grants Local Tax Abatements & Incentives
5 10-YEAR GOALS NET NEW JOBS CAPITAL INVESTMENT PER CAPITA INCOME Current: 124,018 Current: $7.6B Current: 21.5% Goal: 150,000 Pace: 179,286 Goal: $8B Pace: $11.0B Goal: 30% Pace: 47.6% Source: Bureau of Labor Statistics, LAUS, seasonally adjusted by Columbus 2020, January 2010 October 2016 Source: Columbus 2020, as of November 2016 Source: Bureau of Economic Analysis,
6 LEADING THE WAY
7 ECONOMIC DEVELOPMENT REGIONAL ECONOMIC COMPETITIVENESS Meet the workforce challenge Increase global trade and investment Develop competitive infrastructure Generate high-growth opportunities Increase manufacturing competitiveness
8 FASTEST JOB GROWTH IN THE MIDWEST Private sector job growth from 2010 to 2015, major Midwest metros Columbus Detroit Indianapolis Louisville Minneapolis Cincinnati Kansas City Chicago Cleveland Pittsburgh Milwaukee St. Louis Source: Bureau of Labor Statistics, State and Area Employment 15.7% 15.2% 14.3% 12.6% 11.7% 10.3% 9.4% 8.7% 7.6% 6.4% 6.3% 5.1%
9 COLUMBUS NET MIGRATION The core county of the Columbus Region, Franklin County, has improved in recent years in the net attraction of domestic migrants from other metros core counties. Number of people (tax exemptions*) flowing between counties, 2005 to 2015 Inbound to Franklin County Outbound from Franklin County Atlanta (Dekalb, Fulton) Chicago (Cook) Indianapolis (Marion) Louisville (Jefferson) Nashville (Davidson) NYC (Bronx, Brooklyn, Manhattan, Queens) Raleigh (Wake) Washington DC Source: Internal Revenue Service, County-to-County Migration Data. *Above data shows the number of exemptions from tax returns where the county of taxpayer address changed from one year to the next, to
10 BUSINESS DEVELOPMENT Building a Strong Domestic and International Pipeline
11 ECONOMIC DEVELOPMENT CREATING HIGH-GROWTH COMPANIES A new $22M VC fund revs up in Columbus Drive Capital launches second, $300M fund for Midwest startups 27 COMPANIES FUNDED IN 2016 $47M IN DIRECT FUNDING Rev1 Ventures backs startups beginning at proof-of-concept. Rev1 Ventures this morning announced that it has raised $22 million for a new fund focused on seed-stage startups in Columbus, Ohio. Among the investors are local institutions like Ohio State University, Nationwide Mutual Insurance Co., Cardinal Health, Worthington Industries and The Columbus Foundation. Co-founders Mark Kvamme and Chris Olsen, who started the firm in Columbus after leaving Sequoia Partners in Silicon Valley, said their thesis is catching on that the Midwest is fertile territory to build fast-growing tech companies and bet on a billion-dollar breakout. 353 NEW JOBS ASSOCIATED WITH FUNDED COMPANIES
12 ECONOMIC DEVELOPMENT COMPETING TO WIN: WINNING THE HIGH-GROWTH GAME FINTECH ANALYTICS RETAIL TECH CYBERSECURITY
13 PIPELINE 160 ACTIVE PROJECTS Attraction/Expansion Stage 67 75% 25% 50 Sales Deal 22 Offer Attraction Expansion 19 App/Accept
14 CURRENT PROJECT PIPELINE 40% FOREIGN-OWNED COMPANIES 74% NEW COMPANY LOCATIONS 31 OPPORTUNITIES CREATING 200+ JOBS Source: Columbus 2020 pipeline, as of February 2017
15 TOMORROW S INDUSTRIES BY M ANNUAL WORLDWIDE ELECTRIC VEHICLE SALES $34.6B MOBILE BIOMETRICS ANNUAL REVENUE $1.7T GLOBAL SPENDING ON IOT DEVICES
16 SMART COLUMBUS In June 2016, Columbus beat 77 cities to win the Smart City Challenge to develop an integrated, first-of-its-kind smart transportation system and become a model for smart cities $50 million investment from the U.S. Department of Transportation and Vulcan $367 million acceleration fund by local public and private sectors, aiming to reach $1 billion by 2020 Implementation led by Smart Columbus team that works collaboratively with public and private sectors
17 RICKENBACKER URBAN CORE EASTON LINDEN SMART COLUMBUS Smart Columbus strives to position Columbus as the nation s epicenter for Smart Mobility by leading the way with a comprehensive set of technology deployments, innovation demonstrations, and adoption programs that: DEPLOYMENT DISTRICTS 1 2 Prepare Columbus for the future of Internet of Things (IoT) and a more sustainable transportation network by investing in an UPGRADEABLE SMART CITY FOUNDATION Pilot new technologies and prove new use cases for mobility solutions by inviting innovation on city streets making Columbus a LIVING LABORATORY FOR SMART MOBILITY 3 Inspire a region-wide culture shift that results in BROAD ADOPTION OF NEW TECHNOLOGIES that improve the quality of life in Columbus.
18 SMART MOBILITY CORRIDOR 35-mile stretch of U.S. 33 is a real-world proving ground for autonomous and connected vehicles $15 million investment Four-lane, limited access highway Partnership between the Ohio Department of Transportation, Honda, Transportation Research Center, The Ohio State University and local governments
19 ECONOMIC IMPACT Key role helping 644 companies grow 41,381 new direct jobs 39,956 indirect and induced jobs $6.72 billion of investment secured Payroll impact of $3.99 billion $21.18 BILLION TOTAL ECONOMIC IMPACT IN THE LAST SIX YEARS
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