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Team NEO Attracts 16 Companies in 2013
CLEVELAND -- Team Northeast Ohio, in partnership with local economic development organizations, JobsOhio and the state of Ohio, recruited a record 16 new companies to northeastern Ohio in 2013, representing nearly 1,400 new jobs and more than $85 million in new direct annual payroll for the 18-county region, the agency reports.
Companies attracted in 2013 chose locations across the region, including Cuyahoga, Columbiana, Mahoning, Portage, Stark, Summit and Wayne counties, according to a newly released summary report.
Among the 16 companies Team NEO lists is Network Solutions Provider, a Los Angeles information technology company is working on finalizing a lease for a potential downtown Youngstown office that would have 300 employees. In December, the Ohio Tax Credit Authority approved a six-year tax credit for the company.
“Northeast Ohio’s ability to pull together and market itself as a region with a range of interconnected urban and rural areas is a clear, competitive advantage,” said Tom Waltermire, CEO of Team NEO. “Working as a region, we are able to present a broader range of opportunities and assets and connect companies with more of the critical resources they want and value. This strategy is the cornerstone of our ability to attract internationally recognized companies with high-paying jobs."
The average payroll for the 16 companies attracted last year is more than $62,000, the highest in Team NEO’s history, Waltermire added.
“These companies represent Northeast Ohio’s strong industry diversification,” said Jay Foran, senior vice president of business attraction for Team NEO. “While advanced manufacturing continues to play an important role in our economy, the region also is attractive for headquarters companies, such as Nestlé’s U.S. pizza division, and significant biomedical operations such as Siemens. In addition, we continue to see business investment related to the Marcellus and Utica shale opportunity as energy companies and their suppliers expand into the region.”
From 2007 to 2013, Team NEO and its partner economic development organizations across the region, which include the Youngstown/Warren Regional Chamber, have brought 83 new company operations to northeast Ohio, accounting for more than 7,300 direct new jobs and nearly $320 million in direct annual payroll, the agency reported.
The total regional benefit -- opportunities that arise as these new companies and their employees buy goods and services from local and regional businesses -- is estimated to be more than 17,400 jobs and more than $800 million in regional annual payroll. Since becoming a regional partner in 2011 of JobsOhio, the state of Ohio’s public-private economic development agency, Team NEO has assisted helped 216 companies within the region create or retain almost 59,000 jobs and add almost $3 billion in capital investment, according to the report.
SOURCE: Team NEO
Published by The Business Journal, Youngstown, Ohio.
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