In This Issue
The CEO’s Corner: Revitalizing NEO Downtowns
Because a vibrant downtown is an economic development tool to help attract new businesses to the area, this edition of the CEO's Corner focuses on revitalization of downtown districts.

Northeast Ohio's many downtowns are a great asset to our region, especially as they are re-created and reborn. Our downtowns were created at a different time and now need to adapt. Downtowns are not obsolete, they are the heartbeat of our communities.

The Brookings Institution recently conducted research on the tactics necessary to recreate a vibrant downtown. Their findings are summarized in a report called Turning Around Downtown: Twelve Steps to Revitalization. Below is a summary of this report:

Step 1: Capture the Vision
Shopping, dining, business, and people filled the streets with excitement during the 40s, 50s, and 60s. Capture this spirit to be reenergized and engage political and business troops to rally behind the efforts.

Step 2: Develop a Strategic Plan
Developing a strategy and management plan of action is needed to succeed. A comprehensive approach is needed with the end goal of creating walkable urbanity that encompasses individual strategies.

Step 3: Forge a Healthy Private/Public Partnership
The private sector's time and money will ultimately determine the effort's success; while the public sector may convene the strategy process. They should band together to work cooperatively to bring back vibrancy.

Step 4: Make the Right Thing Easy
Foster positive change by creating legislation to encourage development, business, and residency.

Step 5: Establish Business Improvement Districts and Other Non-Profits
A business improvement district (BID) is a way of leading the private/public process that provides services the city government cannot deliver. BIDs should be incorporated for the successful revitalization of a downtown.

Step 6: Create a Catalytic Development Company
Create a mixed-use development including retail, housing, and office space.

Step 7: Create an Urban Entertainment District
Incorporate an entertainment district whose attractions are within walking distance of one another. Areas can include movie theaters, restaurants, arts, and night clubs.

Step 8: Develop a Rental Housing Market
Now that you have your urban entertainment in place you can attract a young market. As many initial urban pioneers tend to be young, they also tend to rent. Therefore a downtown development needs to include rental housing.

Step 9: Pioneer an Affordability Strategy
An affordable for-sale housing product strategy should be put in place early-on in the revitalization process.

Step 10: Focus on For-Sale Housing
Focus on for-sale housing which appeals to a different set of households than renters — including young professional singles and couples and Baby Boomer empty nesters.

Step 11: Develop a Local-Serving Retail Strategy
As more people begin to live, work, and play downtown, the focus needs to include service-orientated retail. Retail, always a follower of the housing trend, should begin to pop up with services like a grocery store, dry cleaner, drug store, coffee shops, book stores, restaurants, and even big-box retailers that integrate with the walkable landscape.

Step 12: Re-create a Strong Office Market
As housing, retail, and entertainment become established, the office market will begin to rebound, particularly in areas that have new infrastructure and high-end for-sale housing.

There are many efforts in Northeast Ohio to revitalize our downtown areas, which in turn will improve the economic development climate. For example:
    Northside Lofts under construction in the heart of the new Northside Arts and Entertainment District (above); new expanded Akron Art Museum (below) designed by the world-renowned architecture firm, Coop Himmelb(l)au. The structure will be built adjacent to the existing museum, incorporating the old into the new.
  • Akron - Northside Arts and Entertainment District, Northside Lofts, a new mixed use housing development with upscale urban lifestyle with 89 residential condos; Akron Art Museum expanded museum including a 50,000 square foot building. Gallery space will increase from 8,000 square feet to approximately 22,000 square feet, allowing for a dramatic increase in the display of painting, sculpture and photography.
  • Canton - Converting historic Onesto Hotel into 45 one- and two-bedroom luxury apartments is expected to be completed by the end of this summer; Construction for 748 Second St. S.E. Old Power House - Approximately 7,000 sq. ft., built by Thomas Edison in late 1800s, part of the entertainment district with some market rate apartments is to begin construction this summer; and future plans include 948 High St. N.E. — Approximately 72,000 sq. ft., will be converted to loft apartments, construction to begin summer 2007.
  • Cleveland - According to the Zaremba Management Company, Cleveland is on Step 10 of 12, focusing on for-sale housing, including their project, The Avenue District located at E 12th and St. Clair featuring 426 lofts, penthouses, town homes, and studio lofts. Other efforts include Scott Wolstein's East Bank of the Flats project and Robert Stark Warehouse District project that are in the planning stages and will be a mixed-use development including retail, housing, and office space. An example of improving business environment is the recently formed Downtown Cleveland Alliance, which has already instituted the "Clean and Safe" program.
  • Youngstown - More than $100 million of new development has recently revitalized the city. Some of the largest projects include: The Chevrolet Centre, Nathaniel R. Jones Federal Building, George V. Voinovich Government Center, Mahoning County Children Services Building and the new home of Ohio's 7th District Court of Appeals.

Thomas A. Waltermire
CEO
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Team NEO Highlights
Northeast Ohio Showcased at International Trade Shows
The first half of 2006 has proven to be very successful in showcasing the assets of Northeast Ohio to the world! Through a collaboration of all of our partners, Team NEO exhibited our region at major trade shows, including the Society of Automotive Engineers, CoreNet Corporate Real Estate Network, Medical Design & Manufacturing, and the NPE International Plastics Showcase. Through these efforts, our region has made contact with more than 500 companies looking for information about Northeast Ohio. Team NEO, along with our partners in the business development committee (comprised of members from the Greater Akron Chamber, the Stark Development Board, the Lorain County Chamber of Commerce, the Youngstown-Warren Regional Chamber, Greater Cleveland Partnership, FirstEnergy Corp., and the Medina County Economic Development Corporation) are in the midst of vigorous follow-up activities with these companies. Watch for updates in this newsletter.
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TeamNEO.org and REDIS Website Traffic Spikes in Second Quarter of 2006
The word is getting out about Northeast Ohio's online information resources! The second quarter saw huge increases in online traffic; compared to the first quarter of 2005, online traffic has jumped up 46% on teamneo.org and an amazing 210% increase in page views on REDIS (the geographic information system-based tool that assists visitors with free, unlimited access to a wide range of information about available commercial property and land, as well as economic related data). Keep spreading the word about these websites to your friends and colleagues. As always, if you have any questions or suggestions about these sites and their capabilities, contact Steve Fritsch at sfritsch@teamneo.org or 216.363.5413.
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Regional Business News
Leedsworld, Inc. Expands Operations to the City of Warren
As many as 485 new jobs are coming to the Youngstown-Warren area with the recent announcement of Leedsworld, Inc., supplier and producer of promotional products, such as portfolios, pens and stationary. According to Walter Good, director of the Youngstown-Warren Regional Chamber's Economic Development Action Team, which spearheaded efforts to attract the company to the area, "Leedsworld is a dynamic and growing company that operates in the global marketplace. The fact that they decided to locate here gives testimony to the strategic advantages that our community affords to industry leaders such as Leedsworld." There was competition with sites in the Pennsylvania area, so the Chamber worked with the City of Warren, Warren Redevelopment & Planning Corp. and the Mahoning Valley Economic Development Corp. to present an aggressive incentive package that included a loan from the Sate of Ohio, tax abatement, and additional land for Leedsworld's projected future expansion.
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Other Developments Since Our Last e-Newsletter
  • Pasco Inc., a data processing firm in Hudson, will hire more than 100 people after landing a $39 million contact with the state of California to monitor compliance with a new program designed to make sure drivers carry auto insurance. The new hires will be in a Hudson call center that will serve the California Department of Motor Vehicles;
  • West Corporate, a call center in Niles, is adding 200 jobs to its payroll in an expansion that will bring total employment at the two-year-old facility to 1,200;
  • Wrayco, a fuel tank manufacturer, is planning a $25M expansion in Stow. They expect to add 90 jobs to its existing 186 within three years;
  • RMI Titanium in Weathersfield Township plans an $8 million investment in melting furnaces at its plant. Company officials expect jobs to be created from the investment;
  • RTI International Metals announced its facility in Canton will get a $27 million upgrade; keeping 50 jobs and creating 12 to 18 new jobs in the area.
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Twinsburg: PartsSource on List of Fastest Growing Companies in America
PartsSource, the nation's leading supplier of replacement medical parts, has been named the 19th Fastest Growing Company in America by Entrepreneur magazine. The company made the list for the second straight year, rising from being ranked 23rd in 2004 to 19th in 2005 as their sales and net revenues continue to climb. Mortgage company Equity Consultants LLC in Richfield also made the list at 67.
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Beachwood Celebrates 20th International Company
Beachwood has just co-located its 20th international company in the past 30 months. The Beachwood Business Development Center is currently working with 22 clients who are building businesses in Beachwood. In addition, these companies have raised nearly $35,000,000 in investments since arriving in Beachwood.
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Medina County Economic Development Corporation Report
Medina County Economic Development Corporation's (MCEDC) Executive Director Jim Doutt recently announced activities of strategic core initiatives aimed at making Medina County more competitive in the field of economic development:
  • Construction is set to begin this summer on creating an important postsecondary presence in the county by partnering with the University of Akron to build the Medina County University Center;
  • The Medina County Business Technology Park, aimed at attracting high wage, high skill jobs that can feed off of the presence of the nearby University, is now being marketed;
  • Medina County Fiber Optic Ring will be an 88 mile, 96 fiber strand cable that will provide a wholesale platform for retail broadband services to county government, local schools, businesses hospitals, libraries, local safety forces and Medina County University Center.
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Ambassadors Keep Downtown Cleveland Safe & Clean
If you notice individuals dressed in bright gold polo shirts and blue pants (along with blue ponchos in rainy weather), chances are they're one of some 40 new Safe and Clean Ambassadors of the Downtown Cleveland Alliance. The Ambassadors program was created to enhance downtown as a safe place for working, living and visiting. There are both Safety Ambassadors and Cleaning Ambassadors patrolling the streets in shifts — from 10 to 15 staffers per shift. The Safety Ambassadors give directions to visitors and help the Cleveland Police Department identify potential security issues while the Cleaning Ambassadors work daily to keep downtown sidewalks and public places clean and attractive. The efforts should contribute to economic development by improving the business climate, competitiveness and quality of life in Downtown Cleveland.
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MAGNET Publishes First Edition of the Manufacturing Brief
MAGNET, the Manufacturing Advocacy and Growth Network, introduced the first edition of the Manufacturing Brief, a comprehensive report outlining the current status of manufacturing in Northeast Ohio. The brief, the first in a quarterly series, describes trends in employment, wages and gross regional product (GRP) for major manufacturing industries. To view a copy of the first edition, visit their website at magnetwork.org for a posting by mid-July.
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Celebrating Success in Northeast Ohio
Nominations are being accepted for companies with sales under $50 million with the following criteria:
  • Found new markets and customers;
  • Innovated with new products or processes;
  • Improved profits by increasing margins or cutting costs;
  • Extended globally;
  • Developed creative technology to beat the competition.
The winners will be recognized at the Celebrating Success Conference November 2 from 8:00 am - 1:30 pm at Crowne Plaza in Quaker Square. For more information about the conference - featuring opening remarks by Dr. Luis Proenza, President of University of Akron and Keynote Speaker Cathy B. Panzica, Attorney-Thompson Hine LLP, Founder-Red Room Revolution and Partner-Panzica Investments — or to submit your nomination (due July 31, 2006), click here.
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Opportunity for Ohio Honda Suppliers
Honda's expansion in the Midwest provides an opportunity for its suppliers to expand their business. The Ohio Department of Development will co-sponsor a conference in Akron, among other Ohio locations, to discuss state-supported programs, business loans and more to help suppliers cut costs, save money and save time. Please note the following information for the Akron event: July 27, 8:00 am to 10:00 am, Greater Akron Chamber of Commerce, One Cascade Plaza 17th Floor. To RSVP, contact Marcel van den Bosch at 330.237.1217 or vandenbosch@greaterakronchamber.org. For more information, click here for the Ohio Department of Development's website.
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We Want to Hear from You
There is a lot of positive activity in our region. As the regional catalyst for economic development, send us your news so we can help spread the good word. Correspondence should be sent by e-mail to Nina Holliday at nholliday@teamneo.org.
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