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Maxine Goodman Levin College of Urban Affairs, Cleveland State University
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Weekly News and Opinion from Ohio's Newspapers
January 18 - 24, 2011

Greetings!
Welcome to the latest issue of Economic News from Ohio's Regions, a new weekly newsletter from the Maxine Goodman Levin College of Urban Affairs and Cleveland State University.  We'll search Ohio's papers to bring you economic news and key happenings that impact Ohio's regions.

Magnet, trade agency add area offices (Youngstown Business Journal, January 18, 2011) Officials with the Youngstown/Warren Regional Chamber say they are optimistic about the potential impact of two Northeast Ohio economic development institutions that are each establishing a regular presence in the Mahoning Valley. 
 

Project to 'kick start local food economy' (Wilmington News Journal, January 19, 2011) In our corner of Ohio, where farmers benefit from the coveted Midwestern soil, corn fields and soybean rows dominate the local landscape. But of the thousands of acres of Clinton County farmland, just a fraction is used to grow food. One new project aims to change that.


Lorain Council approves using loans to help businesses (The Morning Journal, January 19, 2011) Council voted last night to approve a commercial facade forgivable loan program and a downtown
revitalization loan program, both of which are geared for businesses in Lorain's Downtown Business District, which roughly spans from Washington Avenue east to the Black River and from Lake Erie south to 10th Street.

 

Ohio chamber mounts pro-business push (Columbus Dispatch, January 19, 2011) With a new governor in office and a fresh legislative term starting, the Ohio Chamber of Commerce has laid out its campaign for turning around the state's ugly economy and creating jobs.

 

Two new companies added to minority accelerator

(Cincinnati Business Courier, January 19, 2011) The accelerator was created in 2003 to help grow sizable minority-owned businesses and urge Tri-State corporations to spend more with local minority-owned firms.


Design for Cleveland Medical Mart and Convention Center by LMN Architects are still evolving and still need work
(The Plain Dealer, January 20, 2011)
It is clear that the architects are working hard to ensure a smooth functional relationship between the medical mart - an above-ground, year-round showroom for advance medical devices - and the underground convention center to be built below the surface of the downtown Mall, just east of the mart.


Venture capital investments on the rise in northeast Ohio, nationwide (The Plain Dealer, January 21, 2011) Investment in emerging Northeast Ohio companies snapped back last year, reversing a sharp drop driven by the recession, economic uncertainty and concerns about the future of the nation's health-care system.

State private development comes with hurdles (Dayton Daily News, January 21, 2011)
States that decide to privatize their system for attracting new business investment can lose ground in time spent creating the new private organizations, which already face challenges recruiting companies in a sluggish economy.

Editorial: Model of cooperation (Toledo Blade, January 21, 2011) Strapped municipal budgets throughout Lucas County have done what years of talk could not: light a fire under regional cooperation.


Home prices in Ohio rise while sales decrease

(Youngstown Vindicator, January 22, 2011) The average home price increased in the state for the first time in five years, while home sales decreased by 4 percent, according to the Ohio Association of Realtors.
 

Editorial: Residents of Cleveland and Pittsburgh need to rethink their place in the world (The Plain Dealer, January 22, 2011) Northeast Ohio and southwestern Pennsylvania are far more interconnected with each other than either region is with other parts of Ohio or Pennsylvania. The day-to-day interactions of local businesses are geared toward regional partners, not Harrisburg or Columbus. Pittsburgh industries are linked far more closely to markets and suppliers in Youngstown, Akron and Cleveland than with those in Allentown, Pa.; Scranton, Pa.; or even Philadelphia. In so many ways, the state boundaries we think of as important are no more than lines on a map.

 

Death for Estate Tax (Akron Beacon Journal, January 23, 2011)
The tax - which doesn't kick in until an estate's net value tops $338,333 - generated $285.8 million in the state's 2010 fiscal year, with about $228 million going to local governments and the remainder being kept by the state. The state taxation department estimated that less than 10 percent of Ohioans end up paying the tax.

Business loans now free, but no takers (Columbus Dispatch, January 24, 2011)
With more federal money than it can lend, Delaware County is giving it out free. The money, which is administered by the state Department of Development, typically is used for low-interest loans to qualifying projects by local businesses. As the loans are paid back, counties and cities are supposed to turn the money around and lend it for new projects.

Positive signs at Wilmington Air Park (Cincinnati Enquirer, January 24, 2011)
Since its startup in May 2009, Airborne Maintenance Engineering Services has grown from 300 employees to nearly 500 workers. Another 50-75 hires are expected later this year.

         Edited and compiled by: Molly Schnoke, Center for Community Planning & Development, Maxine Goodman Levin College of Urban Affairs, Cleveland State University
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