Team NEO Announces 2009 Results : Nearly $25 Million New Direct Payroll Attracted to Northeast Ohio

2/25/2010

Team Northeast Ohio (Team NEO) today released its 2009 results. The non-profit regional business attraction agent, in partnership with the State of Ohio and local economic development partners, recruited 10 new companies to the 16 counties of Northeast Ohio in 2009, accounting for 874 new jobs, nearly $25 million in new annual payroll, and an estimated total annual regional payroll benefit of $65 million, which includes direct and multiplier job creation.

New companies to Northeast Ohio include:

  • Steel Warehouse:  Steel Manufacturing, 75 new jobs
  • RTS Companies USA:  Polymers (Injection Molding), 19 new jobs
  • Collectcorp:  Back Office Processing (Call Center), 125 new jobs
  • Perio Corp/Barbasol LLC: Consumer Products Manufacturing, 30 new jobs
  • IPCS: Advanced Materials, 10 new jobs
  • VXI: Back Office Processing (Call Center), 500 new jobs
  • MAT Holdings: Fabricated Wire Product Mfg/Distribution, 20 new jobs
  • MGW (Lowe’s): Consumer Product Manufacturing,  35 new jobs
  • AIM Pharmakon: Healthcare/Bioscience, 40 new jobs
  • MDG Medical Incorporated: Healthcare/Bioscience (Med Device), 20 new jobs

“These wins are representative of Northeast Ohio’s industry diversification,” said Tom Waltermire, Team NEO CEO. “With a strong base in biomedical, polymers, advanced manufacturing and headquarters, the region is in good position to advance our economy.” 

In particular, several of the companies will add to the region’s growing biomedical sector. Team NEO works with BioEnterprise, the Global Cardiovascular Innovation Center, the State of Ohio, chambers of commerce, counties and cities to leverage Northeast Ohio’s world-renowned biomedical and educational institutions, Third Frontier opportunities, workforce and supply chain access to attract biomedical companies.

Team NEO markets the Cleveland Plus brand nationally and internationally as an innovative and opportunistic region for business growth. In 2010, Team NEO intends to increase focus in key markets, specifically medical devices, advanced energy and minority-owned businesses to expand these markets in Northeast Ohio. In addition, Team NEO plans to increase proactive international business attraction in 2010, with specific efforts in Western Europe, China, Spain and Canada. The organization also promotes the region to site selection and real estate consultants nationally, who help businesses make location expansion decision. In addition to targeted industry benefits, Team NEO promotes the region’s low cost of operations, Ohio’s 2005 tax reform, and the region’s central location which provides convenient access to US and Canadian markets.

In addition, Team NEO is a partner in the Global Cardiovascular Innovation Center (GCIC) who is focused on the formation, attraction, expansion and retention of cardiovascular companies to create jobs and facilitate economic development in the State of Ohio.  The GCIC is lead by the Cleveland Clinic and including leading clinical and academic institutions across Ohio.  The GCIC was made possible through a $60 million grant from the State of Ohio's Third Frontier Project.  In 2009, eight companies agreed to locate to Ohio, bring the total number of companies attracted by the GCIC to 15 over the past two years.  The companies recruited in 2009 represent a geographic mix and the GCIC has now attracted companies from- Brazil, Ireland, Israel, Japan,  the Netherlands, Switzerland and Uruguay and domestically from Michigan, North Carolina, Maryland, Massachusetts and Oregon.  Team NEO has a dedicated staff member who is assigned to work for the GCIC as the Director of Attractions.

From 2007 to 2009, Team NEO and partners have brought 29 new firms to Northeast Ohio, accounting for 3,100 new jobs, $95 million in incremental annual payroll, leading to a total regional annual payroll benefit of $260.  The non-profit organization employs 16 people and operates on a $3 million annual budget, with funding from the Fund for Our Economic Future, the Cleveland Plus Marketing Alliance, the Cleveland Foundation, corporate support and regional metropolitan chambers of commerce including the Greater Cleveland Partnership, Greater Akron Chamber, Stark Development Board, Youngstown/Warren Regional Chamber, Team Lorain County, Ashtabula Growth Partnership and the Medina County Economic Development Corporation.


About Team NEO:
Team NEO advances Northeast Ohio’s economy by attracting businesses worldwide to the 16-county Cleveland Plus region.  The organization is a joint venture of the region's largest metro chambers of commerce.  Since 2007, the organization has attracted 31 new company expansions or relocations, 3,200 new jobs and $100M in annual payroll to Northeast Ohio, leading to a total annual regional payroll benefit of $260M.

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