Economic Development in Powell

Spokesman Jeff Robinson discusses recent economic development activity in the city of Powell.

Ohio Third Frontier

Ohio Third Frontier, a ten-year, bipartisan economic development initiative, was created in 2002 in order to serve as a tech incubator to assist in developing Ohio’s technology and research fields.

The Ohio Third Frontier recently opened Request for Proposals in its Fuel Cell, Photovoltaic, and Advanced Energy Programs.  For information about how to apply for these and other programs, check out the Third Frontier website.

Area economist addresses County Commissioners

Dr. Bill LaFayette is the vice president of economic analysis for the Columbus Chamber of Commerce.

Bill LaFayette, Ph.D., chief economist for the Columbus Chamber of Commerce, presented some data and economic analysis to the Delaware County Commissioners at a meeting earlier in August. LaFayette said that Delaware County is positioned very well to make a quick recovery as the national and regional economic recovery continues.

LaFayette pointed out that between 2001 and 2008, Delaware County added approximately 31,000 jobs, which is more than the rest of Central Ohio combined.

Delaware County’s unemployment remains the lowest of any county in Ohio, which LaFayette attributes to the diversity of economic growth and development in the county over the past decade. This growth has been in sectors ranging from leisure and tourism to business and professional services to manufacturing. In fact, Delaware County added over 1,000 manufacturing jobs from 2001 to 2008, while Central Ohio as a whole lost roughly 22% of its manufacturing base.

Delaware County’s favorable tax environment, excellent infrastructure, great schools and skilled workforce combined to soften the blow of the recession, and the diverse economy those factors helped to grow ensures that Delaware County is positioned extremely well to surge ahead as the economy turns around.

Columbus Zoo Polar Exhibit

Here is the second part of the two-part series on the Columbus Zoo and Aquarium’s recent expansion projects.  Polar bears will be returning to the Zoo this Autumn, and the new exhibit is slated to open in the Spring of 2010.

Columbus Zoo Entrance

Please take a moment to watch the first installment of our two-part Columbus Zoo video series.  The Delaware County Port Authority assisted the Zoo in financing their new entrance, which opened in 2008.

Revolving Loan Fund

RLF funds are often used to upgrade equipment.

Public-private partnerships have perhaps never been more important than they are now. With the passage of the American Recovery and Reinvestment Act earlier this year, the amount of federal funding available for business development has never been greater.

But did you know that funds are available from local governments, too? Delaware County and the City of Delaware both operate Revolving Loan Funds to aid in the expansion and retention of businesses by offering low-interest business development loans. According to the County’s economic development website, loans are available for manufacturing, distribution, retail, office, and commercial uses.

For more information about the county’s revolving loan fund process, check out this online brochure, and this application. Please feel free to contact the County’s economic development office with any questions. Sometimes a recession can be a great time to grow a business, and public-private partnerships can be a great way to do that.

Columbus Zoo and Aquarium expanding

In May, the Delaware County Commissioners voted to contribute $10,000 in RLF funds to assist the Columbus Zoo in paying for a feasibility study to determine whether the timing is right to build a hotel at the Columbus Zoo and Aquarium. Consider also the Polar Frontier exhibit, currently under construction and opening in 2010, and the planned African Savannah exhibit, set to open in 2014, and it becomes clear that the Columbus Zoo is experiencing a healthy pattern of growth and development.

This expansion has not gone unnoticed nationally. Earlier this year, the USA Travel Association ranked the Columbus Zoo and Aquarium as the #1 zoo in the United States.  The Columbus Zoo had been No. 2 after the San Diego zoo for a number of years.

The Delaware County Port Authority is proud to be involved in this expansion. Check back soon for some more information (and video content) about the role the Port has played in helping the Columbus Zoo and Aquarium continue to grow. Also, check out the Zoo’s website: www.columbuszoo.org

Prevailing wage ruling favorable to economic development

The Ohio Supreme Court wrapped up the month of June with a ruling that may impact many of Ohio’s businesses, particularly those with public-private partnerships.

In Ohio, “public improvement” projects must pay union wages to workers.  However, under the ruling, any projects receiving only partial public funding (such as grants from the Ohio Department of Development and local agencies) are not automatically subject to the prevailing wage laws.

The Associated Builders and Contractors of Ohio argued that extending the prevailing wage laws in Ohio could harm economic development efforts in the state by raising construction costs by as much as 20%.

This decision came as good news to the Ohio economic development community, who increasingly look to partial public funding as an option for business expansion.

For more information about the prevailing wage ruling, visit the ruling’s page on Ohio Supreme Court’s website.

First Korean firm in Delaware starts operations

At an open house in Delaware yesterday afternoon, the Sam Dong corporation unveiled its new sign and officially began operations here in Delaware County. Sam Dong, the first Korean owned company to have a presence in Delaware, reached an agreement in April with multinational manufacturing firm Luvata to acquire Luvata’s Rolled Products facility located on Pittsburgh Drive in Delaware. Sam Dong plans to retain the current employee headcount of 75 at the facility.

The facility will continue to produce the rod that Sam Dong uses to create its electrical wire.  Based just outside of Seoul, South Korea, Sam Dong manufactures specialty electrical wire products for use in the generator, motor, and transformer industries. Sam Dong boasts many well-known international customers, including General Electric, Hyundai, Siemens, Mitsubishi, and Hitachi. With the acquisition of the Pittsburgh Drive facility, Sam Dong has achieved complete vertical integration of their operations in North America.

“We are pleased to welcome Sam Dong to the community,” Delaware Mayor Windell Wheeler said in April. “Our history of strength in the manufacturing sector makes Sam Dong an ideal fit for our local economy.”

The presence of yet another international firm in Delaware County just goes to show that whether you’re local, from out of state, or from the other side of the globe, Delaware is a great place to do business.

The Sam Dong sign is unveiled in a ceremony at the firm's recently-acquired Pittsburgh Drive location in Delaware. The sign is unveiled by, from left, Delaware City Manager Tom Homan, Delaware Mayor Windell Wheeler, Sam Song CEO Ee Joo Lee, and Sam Dong President Leon Molloy. Photo courtesy of Lee Yoakum, Public Affairs, City of Delaware.

Fiber Optic Infrastructure in Delaware County

Plans are afoot to further develop a network of high-speed fiber optic cables in Delaware County.  As the Delaware Gazette reported earlier in May, the Delaware County Commissioners are considering expansion of fiber infrastructure in the county to connect the Greif Park business development in Liberty Township to other fiber networks, in Delaware and/or in Worthington.

Add to this the DASH (Delaware Area SuperHighway) consortium the City of Delaware, OhioHealth, and Consolidated Electric formed in 2006.  Since the creation of DASH, the group has put approximately 2 miles of fiber optic cable in the ground.  This infrastructure is immensely valuable not only for business attraction and retention, but also for use by government services.

At a recent Delaware County Commissioners meeting, County Economic Development Director Gus Comstock said, “If we want to attract the best businesses to town, we need fiber, fiber, fiber.  Fiber’s what’s going to draw the best businesses.”  He’s absolutely right.  Development of fiber infrastructure will make Delaware County attractive to new high-tech businesses.