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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
March 15 - 21, 2011

Greetings!
Welcome to the latest issue of Economic News from Ohio's Regions, a regular 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.

A Shrinking City Knocks Down Neighborhoods

(National Public Radio, March 15, 2011)

By 2006, most of the steel mills in Youngstown, Ohio, had been gone for decades. The population was shrinking year after year. So the city launched a bold plan to redeem itself.
The plan: Quit trying to redeem itself.

 

Wal-Mart sets timetable to complete Copley stores 

(Akron Beacon Journal, March 18, 2011)

Construction of the new Walmart and Sam's Club in Copley Township could be completed as early as next year.  Company officials outlined the timetable for construction of the two stores this week for township officials as they work out the details of developing the 40-acre site along Rothrock Road.

The retailer's plan to shutter its existing stores in Fairlawn and move them west has drawn sharp criticism from the city.

 

Minority-owned businesses multiply in Columbus(Columbus Dispatch, March 18, 2011)

Blacks and Latinos in the Columbus area are turning layoffs into business opportunities.  The number of black-owned businesses in the Columbus area grew 156percent to 12,706 between 1997 and 2007, according to a Columbus Chamber analysis of recent Census Bureau records.

 

Downtown Akron Partnership names new president (Akron Beacon Journal, March 18, 2011)

Downtown Akron Partnership, a publicly funded group that aims to promote and develop the city's downtown.  Downtown Akron Partnership said this morning that Suzanne Graham, 37, a coordinator of downtown events for the city of Akron, has been named president and CEO of the nonprofit group.

 

SBIR funds crucial to Dayton companies  (Dayton Daily News, March 18, 2011)

Nina Joshi, the chief executive of UES Inc. in Beavercreek is worried the Senate won't reauthorize funding for federal Small Business Innovation Research (SBIR) Program and Small Business Technology Transfer (STTR) grants.  With about 200 local employees, Beavercreek-based UES provides research for government and private customers.

 

Akron startup heating up  

(Akron Beacon Journal, March 19, 2011)

An Akron startup company is generating heat among investors with its large engines that convert ''waste heat'' into electricity.  The waste heat generated in industrial processes would otherwise disappear - often up a smokestack, explained Philip Brennan, CEO of the Akron company called Echogen Power Systems LLC.  Echogen - located in the former Akron Area Board of Realtors building in downtown Akron - recently got a $10 million cash infusion from a Texas company.

 

A talk with the boss at Lincoln Electric (The Plain Dealer, March 19, 2011) 

Welding equipment maker Lincoln Electric has shown an unusual ability to bounce back from the world-wide recession.  Lincoln's salesjumped 20 percent to $2.1 billion in 2010, while its bottom line profits soared 168 percent to $130.2 million. The company can boast that it did not lay off any employees and is now hiring.

 

JumpStart, in the national spotlight, battles criticism over spending, jobs, compensation (The Plain Dealer, March 20, 2011)

At its proudest moment, the JumpStart economic development group also faces its heaviest criticism.  President Barack Obama recently lauded the nonprofit, and the federal government asked it to become a partner in a national effort to boost entrepreneurship.  Meanwhile, critics are blasting JumpStart on blogs and in e-mails. They complain that JumpStart spends more money serving businesses than creating them.

 

UT program helps turn technology developed in its labs into products(Toledo Blade, March 20, 2011) 

An invention created at the University of Toledo could turn ADS Biotechnology Corp. into one of the next big medical companies. The Sylvania firm is developing a blood volume replacement product to treat trauma patients -- a technology that was initially developed by a trio of UT researchers.


'Hippie hang-out' grew into serious rug business

(The Cincinnati Enquirer, March 21, 2011)

Presnell is owner of The Rug Gallery, recently honored as the best rug retailer in the U.S. by the World Floor Covering Association.  The business has come a long way from its days as a "hippie" décor shop in Clifton near the University of Cincinnati campus.

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