Team NEO and Partners Set New Records
Bringing 16 New Company Operations and
More Than $85 Million in New Direct Annual Payroll to Northeast
Ohio in 2013
In partnership with local economic development organizations, JobsOhio and the state of Ohio, Team Northeast Ohio (Team NEO), a regional, private-sector business attraction and growth organization, recruited a record 16 new companies to Northeast Ohio in 2013. These new companies represent nearly 1,400 direct new jobs and more than $85 million in new direct annual payroll. Many additional jobs will be created as these companies buy goods and services from other local businesses.
“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 Team NEO CEO Tom Waltermire. “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 record 16 companies attracted in 2013 created jobs with an average payroll of more than $62,000, which is the highest in our history,” added Waltermire. “High-value jobs that support families and public services are a critical component of a healthy regional economy. These jobs, in turn, drive additional opportunities throughout the region that span the wage spectrum.”
The companies that invested in Northeast Ohio in 2013 include:
Daisy Brand LLC
Design Dynamics LLC
GE Oil & Gas
Network Solutions Provider
Quest Medical Imaging
Royal Appliance Inc.
Siemens Medical Solutions
Six C Fabrication
Toad Medical Corporation
UK Carbon & Graphite
“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 US 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.”
Companies attracted in 2013 chose locations across the region, including Cuyahoga, Columbiana, Mahoning, Portage, Stark, Summit and Wayne counties. Residents in nearly all 18 counties of Northeast Ohio will benefit as these new companies and their employees buy goods and services, creating additional employment opportunities.
From 2007 to 2013, Team NEO and its partner economic development organizations across the region 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 number of new jobs and the increase in payroll that these companies bring to Northeast Ohio becomes even more significant when you consider the multiplier effect – additional employment opportunities that arise as these new companies and their employees buy goods and services from local and regional businesses. The total regional benefit is estimated to be more than 17,400 jobs and more than $800 million in regional annual payroll.
- team neo