In the News

International cargo capabilities surge at Rickenbacker International Airport

By Columbus Regional Airport Authority   · June 1, 2018 Clothes arriving from Sri Lanka. Jet engines made in southwest Ohio heading to northwest Washington. The last Sumatran rhino in the Western Hemisphere departing for a sanctuary in Indonesia. The type of cargo traveling through Rickenbacker International Airport is as varied as the countries on the arrivals and departures screen. Rickenbacker International Airport has built itself into an international air cargo gateway. With the recent addition of freight operator AirBridgeCargo, the airport offers service from five premier international cargo airlines that route through Hong Kong, Luxembourg, Dubai, Abu Dhabi and Moscow and provides service to and from hundreds of destinations worldwide, including Shanghai, Sri Lanka, Vietnam and Amsterdam.  International cargo increased by 65 percent in 2017, and the growth in total cargo is expected to increase more than 900 percent over the next 20 years. “The increase in air cargo is [...]

By | 2018-07-19T10:06:38+00:00 July 19th, 2018|In the News|0 Comments

Central Ohio surpasses 2020 job-growth goal 2 years early

By Mark Williams    · May 30, 2018 Columbus 2020 has reached a goal early that it set back in 2010 when the economic-development group got its start. The region has added 159,000 jobs since 2010, Columbus 2020 said Wednesday, topping its goal of adding 150,000 jobs to the regional economy by 2020. The job growth is based on jobs data collected by the federal government in the 11 counties in which Columbus 2020 works. The goals of 150,000 new jobs, capital investment of $8 billion and a 30 percent increase in per-person income were set as the region was starting to come out of the worst recession since the Great Depression. “It took a lot of leadership to set a goal like that in the middle of that,” said Kenny McDonald, Columbus 2020′s chief economic officer, given conditions at the time. Job growth from 2000 to 2010 was [...]

By | 2018-07-19T09:39:53+00:00 July 19th, 2018|In the News|0 Comments

Census: Columbus is the 4th Fastest-Growing Big City in the US

By Walker Evans   · May 25, 2018 The U.S. Census released its official population estimates for cities across the country, and Columbus continues to boom. The city proper grew by a total of 15,429 people between 2016 and 2017, climbing to an estimated total of 879,170. The growth rate in Columbus represents a 1.79 percent year-over-year population increase, which is the fourth fastest percentage of change only behind Seattle (2.47 percent), Fort Worth (2.18 percent) and Charlotte (1.84 percent). The growth in Central Ohio is nothing new, with population increases averaging 1-2 percent for the better part of the past three decades. “It’s part of a larger trend,” explained local economist Bill LaFayette, founder of Regionomics LLC. “As long as our economy is outperforming the rest of the state and the region and we make our community attractive for newcomers, we will continue to grow. The fact that Columbus and the rest of [...]

By | 2018-07-19T09:27:05+00:00 July 19th, 2018|In the News|0 Comments

Three to know: Why these out-of-town developers plan big building in Columbus

By Tristan Navera   · June 20, 2018 Central Ohio's building boom has attracted nationwide attention, including from some companies with a big appetite to build here. The city's development community has a full list of local names building residential and commercial projects, and a growing number of regional and national names are turning to the city as a place to build, too. Several of them are now looking at substantial additional construction, especially in the city's healthy warehouse market. This year is off to a strong start, with Dodge Data & Analytics showing $1.47 billion in new construction started in the first four months in the eight-county region. That's up 30 percent from last year and includes $904 million in non-residential projects and $569 million in residential projects. Meritex – "It's the right time to develop here."  Minneapolis-based Meritex first entered the Columbus market a few years ago, seeing it as [...]

By | 2018-06-20T14:09:31+00:00 June 20th, 2018|In the News|0 Comments

Reviving Downtowns With Cultural Institutions

By BRIAN J. ROGAL   · April 18, 2018 COLUMBUS—The desire of so many millennials to live in or near a true downtown has municipal leaders across the US brainstorming how they can make core areas more attractive and livable. Few cities have done as much as Columbus, and it recently launched yet another of these efforts, this time to create a full-fledged cultural district just east of downtown that will strengthen the many new residents’ attachment to the community. Thanks to a $173 million facelift, the neighborhood, now dubbed the Discovery District, will soon have new multifamily developments, retail and office space that stiches together the many local cultural attractions such as the Main Library, the Columbus Museum of Art, Thurber House, and Topiary Park. “Like a lot of cities, we have a downtown that was for the most part created at the same time the freeways were built,” Amy [...]

By | 2018-05-11T13:37:53+00:00 May 11th, 2018|In the News|0 Comments

Russian air cargo carrier adding service at Rickenbacker

By Marla Matzer Rose  · April 2, 2018 Russia-based AirBridgeCargo Airlines will become the fifth international air cargo freighter operator at Rickenbacker Airport this week when it launches weekly scheduled flights on Thursday. AirBridge, also referred to as ABC, will join Cargolux, Cathay Pacific Cargo, Emirates SkyCargo and Etihad Cargo at the fast-growing shipping hub. Cargo tonnage at Rickenbacker is up 22.5 percent for the first two months of 2018, after finishing 2017 nearly 27 percent higher than the previous year. “With a view to continue expansion of our footprint in the (United States), Columbus has been on the radar of our business interests for quite a while,” said Sergey Lazarev, general director for AirBridge, in a statement. Lazarev cited Rickenbacker’s “proximity to distribution centers of various companies, including the fashion and apparel industries” as factors in the decision to come to Columbus. Joe Nardone, president and CEO of the [...]

By | 2018-05-02T12:56:29+00:00 April 13th, 2018|In the News|0 Comments

Record year for Central Ohio’s industrial sector powering economic growth – and there’s more to come

By Tristan Navera · March 29, 2018 The pace of leasing of big warehouse space in Central Ohio doubled last year. And yes, that matters to us all.  Central Ohio was one of the fastest-growing markets for industrial real estate in the nation last year, and it saw a sharp uptick in deals that brought new logistics users in. Over 5 million square feet in new leasing activity broke a record as more companies needed more space to move goods through Central Ohio's big hubs, according to information from Colliers International. “The Columbus market anticipates continued growth as a primary distribution hub," Michael Linder, executive vice president and principal at Colliers' Columbus office, said in the report. "The crossroads of I-70 and I-71, in conjunction with the availability of large tracts of developable land, make the region attractive for logistics providers and retailers requiring access to half of the U.S. population [...]

By | 2018-05-02T12:56:29+00:00 April 13th, 2018|In the News|0 Comments

Drive Capital’s Chris Olsen sees the Midwest as the ‘frontier of innovation’ after 5 years in Ohio

By Anna Hensel · February 20, 2018 When Sequoia Capital partners Chris Olsen and Mark Kvamme left Silicon Valleyto start their new venture capital firm in Columbus, Ohio, they bet their careers on the idea that the Midwest was one of the biggest overlooked investment opportunities. Today, there’s still no equivalent of Sand Hill Road in the Midwest. But interest in investing in Midwest startups hasn’t cooled off since Olsen and Kvamme started Drive Capital in 2012. The firm is now on its second, $300 million fund, and has invested in 29 companies to date. Some of the firm’s most well-known investments include Columbus-based CrossChx, health care software startup Aver, and language learning service Duolingo. VentureBeat recently spoke with Olsen, a Cincinnati native, to get his take on how Midwest startups have evolved since he first moved his business to Ohio nearly five years ago, in April 2013. Olsen says that the types of [...]

By | 2018-05-02T12:56:30+00:00 February 27th, 2018|In the News|0 Comments

Businesses Move To The Midwest, First Stop: Columbus

By Tom Walker · February 18, 2018 According to VentureOhio’s 2017 Venture Report, more VC funding is currently flowing through Ohio than at any point in the state’s history. In fact, in 2016, $470 million was invested in 210 startups, a 46 percent increase over the previous two years. On top of that, Columbus, its capital city, is now the top U.S. metro for scaling young companies, according to a recent report by the Kauffman Foundation. So, why now? In short, the Midwest is buzzing, and it’s being driven by a national VC industry that’s hit a record high (the highest since the dot-com era). Since 2013, Ohio-based venture capital funds have raised nearly $1 billion in new capital, and over 70 percent of those dollars were raised by Columbus-based investors. Now, national investors are noticing: take JD Vance and Steve Case’s new seed fund, for example. The Rise the Rest® Seed Fund will invest $150 [...]

By | 2018-05-02T12:56:30+00:00 February 27th, 2018|In the News|0 Comments

An Alternate Universe of Shopping, in Ohio

By David Gelles COLUMBUS, Ohio — It was a scorching day outside, hot even for late summer in Ohio, and yet I was freezing. I had stepped inside the EB Ice Box, a meat-locker-like display at the Eddie Bauer store here that was cooled to 13 degrees Fahrenheit. The metal-sheathed room looked out onto the promenade of an upscale shopping mall, and featured a large block of ice for a bench. Even though I was wearing a down jacket (the room is meant to be a place where customers can test Eddie Bauer wear), the frigid air had gotten under my skin. The ice box was a gambit designed to attract the one thing so many stores like Eddie Bauer seem to be missing these days — customers. For shoppers, this city of 860,000 smack in the middle of a swing state, can feel like an alternate reality, a place where [...]

By | 2018-05-02T12:56:30+00:00 January 8th, 2018|In the News|0 Comments