Economy

Business news

Northeast Ohio Hospitals ContinueTheir Economic Boost

Oct 17, 2016
Center for Health Affairs
Center for Health Affairs

Northeast Ohio’s hospitals continue to boost the area’s economy with both direct and indirect employment. That’s according to the most recent numbers from the Center for Health Affairs, a support group representing 40 of the region’s hospitals.

Burke logo
City of Cleveland

A planned expansion of service at Cleveland Burke Lakefront Airport will give business travelers a more efficient way to get to the New York City area. Ultimate Air Shuttle has announced it will include direct flights to that destination sometime early next year.

Deer Hunting is Significant in Ohio's Economy

Oct 10, 2016
Buck in Ohio
ODNR

Note: A misspelling in the headline has been corrected

There are now over 500 deer-breeding farms in Ohio — with an estimated 25,000 captive white- tail deer at any one time.  Some of the animals are raised for meat, hides and agricultural products like more traditional livestock, but most are sold to hunting preserves. 

Deer hunting is big in Ohio -- with half a million licenses issued a year. And hunting on preserves, where patrons pay to stalk stocked deer, is now a fast growing and increasingly sophisticated business.

Photo of Dave Yost
ANDY CHOW / STATEHOUSE NEWS BUREAU

Nearly half of Ohio’s local fiscal officers say they are unaware of anti-fraud services that are available to protect their bank accounts.

Auditor Dave Yost says he surveyed 784 local officials last month about their use of fraud protection services at the banks they use.  He says 49 percent said they are unfamiliar with those services, and 65 percent said they have no anti-fraud services on their accounts or are unsure if they do.

Yost says those services are cheap compared to the protection they offer – which can catch fraud that the bank might otherwise miss.

Northeast Ohio is Seeing a Rise in Visitors

Sep 30, 2016
Cleveland Convention Center
KEVIN NIEDERMIER / WKSU

The last few years have been good for the tourism and convention business in Northeast Ohio. Visitor and convention bureaus in Cleveland and Akron both report significant growth in 2015. 

Destination Cleveland says a record 17.6 million business and leisure travelers came to Cuyahoga County last year. That’s a nearly 4 percent increase over the year before and translates into an economic impact of more than $8 billion.

photo of IEDC conference
KABIR BHATIA / WKSU

The International Economic Development Council is holding its annual convention in Cleveland this year, bringing together thousands of business leaders from around the globe.

The development council is a non-profit, non-partisan group whose members work for governments, the private sector and universities.  This year’s conference will feature about 250 speakers on topics including how to “up-skill” workers, re-purposing space for retail and attracting talent from the LGBT community.

Ohio Education Policy Institute logo
OHIO EDUCATION POLICY INSTITUTE

A report commissioned by three groups representing traditional public schools shows what they call a strong link between student performance and household income. In other words, kids in wealthy districts do better on tests on average than kids in poor districts do. 

The report from the Ohio Education Policy Institute includes graphs that slant straight down – as the number of economically disadvantaged students rises in a district, the average student test score declines.

Cleveland celebrating Allegiant coming to Hopkins Airport
KEVIN NIEDERMIER / WKSU

Ultra-low cost airline Allegiant Air is leaving Akron-Canton Airport and relocating to Cleveland Hopkins International. Akron-Canton officials say the move will not be a major blow to their airport. 

photo of Lisa Hamler Fugitt
STATEHOUSE NEWS BUREAU

Ohio’s economy, like the nation’s, has been improving in recent years since the economic downturn in 2008. Many of the jobs that are coming back are not like the ones that were lost during the most recent depression.

Lisa Hamler Fugitt is the head of the Ohio Association of Foodbanks. She says many of the jobs that left Ohio paid living wages and provided benefits. But she says a recent federal study shows many of the jobs that are coming back are considered contingent jobs.

Tudor Arms Hotel
KEVIN NIEDERMIER / WKSU

This summer’s Republican National Convention in Cleveland has come and gone, but a big part of what helped bring it here remains; many, many hotel rooms. The downtown event’s success is expected to eventually drive up convention business and tourism in the city. But until that happens, some hotel managers are concerned about keeping their rooms filled.                                                                                                   WKSU’s Kevin Niedermier reports on the concerns, and what’s being done to help get through the lull.

Northeast Ohio Manufacturers are Looking for Millennials

Sep 19, 2016
Magnet logo
MAGNET

A new study of Northeast Ohio’s manufacturing sector shows the most common concern of company owners is where they can find skilled workers, especially Millennials.  

U.S. Issues Another Anti-Dumping Steel Decision

Sep 13, 2016
Hot Rolled Steel
Szalax at Hungarian Wikipedia - Transferred from hu.wikipedia / to Commons by Istvánka using CommonsHelper.

For the third time in recent months the U.S. has won an International Trade Commission anti-dumping case against foreign steel makers. 

Democratic Congressman Tim Ryan of Warren applauded the move as a positive step in what he called the fight to ‘unstack’ the deck of unfair trade practices by countries that subsidize their steel companies. 

Republican Senator Rob Portman pointed out that this ruling is especially significant because it involves a new and broader range of countries

photo of Summit MetroParks
WKSU

Summit MetroParks announced today a partnership with the Akron Community Foundation, which means a major realignment of its endowment fund.

Gov. John Kasich at Greater Cleveland Partnership
KEVIN NIEDERMIER / WKSU

Gov. John Kasich says manufacturing is still important to Ohio, but high-tech is the future. Kasich was the keynote speaker at  tonight's annual meeting of the Greater Cleveland Partnership, the area’s chamber of commerce. 

ALERIS
GOOGLE MAPS

Beachwood-based aluminum products maker Aleris Corp. has been purchased by a Chinese company in a $2.3 billion deal. Aleris officials say the purchase gives the company a better opportunity to grow.

Interceptor Missile
MDA - http://www.mda.mil/mdalink/html/nmdimg.html (Now hosted at http://www.mda.mil/news/gallery_gmd.html)

Camp Ravenna is one of three locations under final consideration for a national missile defense base.  A $3.6 billion economic infusion, 2,500 construction jobs and 850 permanent ones are at stake, so Ohio’s congressional delegation is stepping up a joint-effort to push for the project.

Bi-partisan

photo of Alicia Reece
OHIO HOUSE OF REPRESENTATIVES

Lawmakers who failed to stop a bill banning communities from creating local hiring quotas are pleased the city of Cleveland is taking the issue to court. 

Since it was proposed, Democrats such as Rep. Alicia Reece of Cincinnati have battled a law that prohibited cities from requiring a percentage of workers on public construction projects to be local residents.

JEFF ST.CLAIR / WKSU

A new report details how Northeast Ohio could become a hub for additive manufacturing – technology better known as 3-D printing.

One of the first steps is teaching workers and business owners just what additive manufacturing can do.

photo of Krystal Brumfield
KABIR BHATIA / WKSU

The 32nd annual conference of the Airport Minority Advisory Council is in Cleveland this week, encouraging airport officials from around the country to seek diversity in their staffing and partnerships.

The airport council chose Cleveland for this year’s meeting due to the city’s economic opportunity and increasing number of start-ups. Council CEO Krystal Brumfield says she hopes that participants leave with a renewed focus on what’s available in the airport industry.

photo of Kelan Craig
OHIO HOUSING FINANCE AGENCY

A new study finds that most of the housing funded by Ohio’s Low Income Housing Tax Credit program is in poor and racially segregated areas.

The study, from the Legal Aid Society of Cleveland and the Housing Research and Advocacy Center looked at six metropolitan areas in Ohio, including Cleveland and Akron.

The Ohio Housing Finance Agency, who runs the tax-credit program, says the report leaves out important details.

Flights - Youngstown-Warretn Regional
Western Reserve Port Authroity

A month ago, Youngstown-Warren Regional Airport saw daily passenger service return for the first time in nearly two decades. ADI, a specialty airline, had gotten approval to fly to Chicago’s O’Hare International. 

But today, the regional airport owner, the Western Reserve Port Authority, which had been subsidizing a trial period for the daily service, decided it could no longer do so.

John Moltinero is executive director of the authority.

Pipeline Could Affect Regional Manufacturing

Aug 17, 2016
Pipeline Map for Apalachian Region
MPLX-MarkWest

Another step has been taken in building the region’s first “cracker.” That’s a processing plant that can turn ethane from Ohio’s Utica Shale into chemicals used by the polymer, plastics, and paint industries. 

Royal Dutch Shell said in June it will go ahead with the construction of the $5 billion cracker just east of the Ohio line in Beaver County, Pa. This month the company is starting to acquire right-of-way for a pipeline from the Utica shale hubs in Harrison County to the plant.

photo of Marijuana
OHIO PUBLIC RADIO

An Ohio based lawn care company that makes products to kill weeds has made an unusual purchase.

Marysville based Scotts Miracle Gro makes products to kill weeds. But recently, a subsidiary of Scotts purchased a Dutch company that makes products which are commonly used to grow marijuana.

Earlier this month, it spent $136 million for a company that makes hydroponic products, including grow lights, which are often used to raise vegetables and plants, including marijuana, indoors.

photo of Kirk Schuring
OHIO HOUSE OF REPRESENTATIVES

A group of state lawmakers will be studying jobless benefits to come up with ideas for their colleagues to consider when they come back to work after the November election. 

Ohio has paid back the $1.4 billion it borrowed from the federal government during the recession when the fund that paid benefits to jobless workers went broke. But Republican Rep. Kirk Schuring of Stark County says the crisis isn’t over.

“When you’re in a situation like this, it begs the question: What must we do to reform our system?”

photo of Jessica Borza
TWITTER

A five-year grant is helping a local manufacturing network create apprenticeship programs in Ohio and Pennsylvania.

The $3 million grant from the Department of Labor was given to the Greater Oh-Penn Apprenticeship Network.

The network will create a model for manufacturing apprenticeships and reimburse local companies who use it.

Jessica Borza, the coordinator of the program, says it will help companies who have doubts about apprenticeships.

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