As Hopkins air service transitions, opportunities arise for more travel options
With additional service that other airlines—such as Frontier, Spirit, Southwest and Delta—are now offering at Hopkins Airport (CLE), last week’s announcement by United Airlines that it will end nonstop flights between Cleveland and Dallas/Fort Worth, Fort Myers, Fort Lauderdale and Tampa is not unexpected.
“This decision is based upon the competitiveness of the industry,” said Greater Cleveland Partnership President and CEO Joe Roman. “But this also presents an opportunity to offer an even more diverse range of options for Hopkins travelers."
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GCP supporting continuation of Medicaid expansion
Alesha Washington, the Greater Cleveland Partnership’s senior director of government advocacy, provides background on GCP’s support of continuing the expansion of Medicaid benefits in Ohio next year.
In this interview with "GCP Insight" host Steve Luttner, vice president, Lesic and Camper, you’ll hear about the need for legislature approval to continue the expansion, which was approved in 2013 by the State Controlling Board. The approval expires June 30, 2015.
Click to watch.
Cleveland/Northeast Ohio economy: Per capita output higher than U.S. average
Is the Cleveland economy recovering? Yes, it is—and it’s on par with the U.S. with per capita GDP above pre-recession levels.
Federal Reserve Bank of Cleveland economist Dr. Joel Elvery provided an overview of current economic conditions in the U.S. & Cleveland/Northeast Ohio and a forecast for 2015 to more than 125 middle-market executives at the Greater Cleveland Partnership’s 4Q Middle-Market Forum on December 3. Key points about Northeast Ohio include:
Cleveland’s per capita output continued to rise in 2013 and was higher than that of Ohio, nearby metropolitan areas and the U.S. as a whole.
Cleveland’s per capita income was, in 2013, again above that of the U.S. and Ohio averages.
In both Cleveland and Ohio, household debt is down to levels not seen since 2001.
Unemployment declined sharply in 2014, but Cleveland’s rate is still above the nation’s.
Employment growth has been weaker in Cleveland than the state and nation across many industry segments.
Home prices rose more in 2014 than 2013 in the region but less than the state and national averages
Measures that adjust for population (per capita and rates) show Northeast Ohio recovering about on par with U.S.
Because population in the region declined from 1997 to 2012, measures that do not adjust for population show Northeast Ohio having a weaker recovery than U.S. The decline has tapered off and is now flat.
Looking ahead to 2015, Elvery said to expect:
U.S. GDP to grow in range of 2.6 percent to 2.9 percent
U.S. unemployment rate to fall to around 5.5 percent
Inflation to remain below 2 percent
Federal Funds Rate to rise but remain historically low
Another takeaway from the the forum is that now is a good time to invest. Interest rates should rise in the coming years and the economy is expected to continue to grow.
Vitamix featured on CNBC; company president named EY Entrepreneur of the Year
Greater Cleveland Partnership Board company Vitamix and its president and CEO, Jodi Berg, were featured last week in CNBC’s "Family Matters" segment.
The story notes that Berg is the fourth generation of her family to run the business founded in 1921 by her great grandfather, William Grover Barnard. The company is headquartered in Olmsted Falls.
Click to watch.
Berg also was recently named EY Entrepreneur of the Year™ 2014 National Family Business Award winner.
The EY Entrepreneur of the Year Award—the world's most prestigious business award for entrepreneurs—recognizes industry leaders who demonstrate excellence and extraordinary success in addition to an unyielding personal commitment to their organizations and communities.
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Performance management: Your role as a middle-market CEO
Tom Stewart, executive director of the National Center for the Middle Market, sat down with The Ohio State University Fisher College of Business faculty members Larry Inks and Ray Noe to discuss a new research study on performance management. (Both Inks and Noe were presenters at the 2014 Greater Cleveland Middle-Market Forum.)
Learn what you can do as a CEO to help improve your company's performance management process.
Click to watch the video.
Lessons in innovation for middle-market companies
How do middle-market companies maximize the value that they capture?
A new report by the National Center for the Middle Market and Gretchen Goffe of The Ohio State University Fisher College of Business identifies four models of value creation and capture: the First, the Focused, the Frequent, and the Finder. (Goffe has been a speaker at several GCP middle-market events.)
Each faces different opportunities and threats as it seeks to build on the innovation that propelled early success. A fifth model, which companies don’t so much choose as arrive at by default, is the Fat.
By studying companies that have generated significant growth while leveraging their value capture models, middle-market executives will gain insights on steps to take and to avoid in their own innovation efforts.
Click to read the report.
The National Center for the Middle Market, a collaboration between The Ohio State University Fisher College of Business and GE Capital, is a strategic partner of the Greater Cleveland Partnership’s Middle-Market Initiative.
NASA Glenn expertise instrumental in Orion spacecraft
Experts from NASA’s Glenn Research Center
(GRC) were an instrumental part of the team that worked to ensure the success of the December 5 exploration flight test of Orion.
As described on the NASA website, “NASA Glenn’s contributions were essential to the design and development of many of the spacecraft systems including structures, mechanisms, pyrotechnics, propulsion, thermal, materials, power and avionics.
“Early in the design of Orion, Glenn conducted wind tunnel testing to validate the aerodynamics of the launch abort system. It directly contributed to Orion’s electrical power system and power distribution design, the crew and service module structure, the crew module thermal protection system, and many of the spacecraft mechanisms including those for fairing separation, the umbilical and the crew and service module retention and release.”
The Greater Cleveland Partnership has long been identified as the community advocate for GRC, as well as its research and testing facility, Plum Brook Station
, located in Sandusky, Ohio. GCP has been focused on securing state and federal policies that enhance NASA Glenn’s strengths and create opportunities for economic development and job creation through regional collaboration and commercialization of its technology.
Click to read more.
Photo by NASA:
NASA Glenn researcher Henry Degroh checks for leaks on seals designed for the Orion spacecraft.
“Pass the Plus” through mentoring and volunteering
This month’s issue of the “Pass the Plus” e-newsletter focuses on how mentorship and volunteerism are helping future business leaders and influencers build successful careers, create connections and develop relationships and enhance life in the region.
Click to read the newsletter.
“Pass the Plus” is a free monthly publication of the Regional Marketing Alliance
, which oversees the day-to-day operations of the Cleveland Plus
campaign. The Alliance is part of the economic development system that the Greater Cleveland Partnership helped to create and continues to support.
Click to subscribe to “Pass the Plus.”