One Columbus Q3 2023 Economic Report

Q3 2023

ECONOMIC UPDATE

THE COLUMBUS REGION The Columbus Region is a dynamic 11-county metropolitan area in the midst of unprecedented economic growth. The Region is home to today’s leaders and is at the forefront of the industries of tomorrow, from advanced manufacturing to smart mobility research and development.

OPEN

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Delaware

Licking

Morrow

Fairfield

Logan

Pickaway

Franklin

Madison

Union

Knox

Marion

SMART

BUSINESS ORIENTED

Q3 ECONOMIC INSIGHTS Columbus Region Driving Ohio’s Growth Of the top 10 fastest growing counties in Ohio in the past decade, 6 are in the Columbus Region, with Union and Delaware County holding #1 and #2 spots, respectively.

% Change (2012-2022)

County

% Change (2012-2022)

Union County

26.62%

Licking County

8.10%

Delaware County

24.94%

Miami County

6.93%

Warren County

14.69%

Pickaway County

6.56%

Fairfield County

10.44%

Clermont County

5.83%

Franklin County

10.37%

Medina County

5.67%

Geo

2012

2022

# Growth

Ohio

11,550,839

11,756,058

205,219

Columbus Region

2,053,596

2,272,038

218,442

181,128

226,296

45,168

Delaware County

County

Fairfield County

147,500

162,898

15,398

Franklin County

1,197,640

1,321,820

124,180

Knox County

60,790

63,183

2,393

Licking County

167,765

181,359

13,594

Logan County

45,444

46,040

596

Madison County

42,968

43,540

572

Marion County

66,229

64,642

(1,587)

Morrow County

34,972

35,339

367

Pickaway County

56,326

60,023

3,697

Union County

52,834

66,898

14,064

All of Ohio’s population growth in the past decade can be attributed to net gains from Columbus Region counties, with the region adding over 218,000 people and the rest of the state collectively losing 13,000.

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Q3 ECONOMIC INSIGHTS Ohio School Districts New Ohio school report card data for the 2022-23 school year shows that 96% of school districts in the region are meeting the state’s performance expectations, with six districts achieving the highest five-star rating.

Household Income Newly released data from the Census Bureau reported a median household income of $75,777 for the Columbus metro area, an 18.8% increase from five years ago.

MEDIAN HOUSEHOLD INCOME | 2022​

$75,777 $65,198

2022 2017

D e Sa nv er n D ,C O ie go , A us CA tin R ,T a M in leig X ne h, ap N C ol B is al tim , M N o Po re ,M r tl Sa D cr and em ,O e R N nto as , Ja hv CA il ck so le, T nv N C ha ille ,F r lo In L t di an te, N ap C C o ol um lis, K an bu IN sa s, O s C C ity H V inc , M irg in O n in ia ati, B O e H St ach .L ,V ou A O is, rla M O n M ilw do , a F La uke L e, s V W Pi ega I tt sb s, N Sa ur V n gh A nt , P on A ia O kl Ta , T ah X m om p a, a C FL C le ity , ve la OK nd ,O H

$98,975 $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 0

Sources: U.S. Census, American Community Survey.​

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Return to Office Trends In 2019, there were approx. 100,000 workers commuting downtown. While nearly 75% of workers have returned, they are only making 57% of the cumulative number of trips due to continued hybrid work trends.

84%

COLUMBUS REGION TOTAL EMPLOYEE WORKPLACE VISITS BY YEAR (MILLIONS)

Employees live and work in the Columbus Region

900

796.8

800

698.2

657.8

700 600

683.8 (P)

661.2

656.7 526.8

Commute into the Region from outside

500

455.9

400 300 200 100 0

2017

2018

2019

2020

2021

224,000

2022

2023 YTD

-100,000

Fewer workers commuting into the office on a repeated, regular basis compared to 2019

Sources: Placer.ai, data analyzed September 20, 2023. Employee is defined as a visitor that meets a certain threshold of long and repeated visitation patterns (during daytime hours) to the same POI. The work location needs to be separate from the home location. People who are fully remote employees and work from their homes are not accounted for as employees. *Based on aggregated mobile device data. Total employee visits based on extrapolated number of visits derived from unique panel device counts.

Rising Rent Prices Rent prices in the Columbus metro area have begun to stabilize from historic year-over-year increases in 2022.

YEAR-OVER-YEAR INCREASES IN RENT PRICES +18% +16%

+16.4%

+14% +12%

+11.0%

+10% +8% +6% +4%

COLUMBUS United States

+2%

20 19 20 01 19 -0 20 4 19 -0 7 20 19 -1 0 20 20 20 01 20 -0 4 20 20 -0 7 20 20 -1 0 20 21 -0 1 20 21 -0 20 4 21 -0 7 20 21 -1 0 20 22 -0 1 20 22 -0 4 20 22 -0 20 7 22 -1 0 20 23 -0 1 20 23 -0 4 20 23 -0 7

+0%

Source: Zillow Observed Rent Index, seasonally adjusted. Accessed October 3, 2023.

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ACTIVE PIPELINE Active attraction and expansion opportunities for the Region are primarily manufacturing operations, a growing trend in contrast with previous years where office and HQ operations dominated the pipeline.

PROJECTS BY SITE OPERATIONS TYPE: Active Pipleline 5-Year Comparison 2018

2023 Office

HQ

Manufacturing

Other

NEW AND EMERGING DEMANDS IN CLEAN ENERGY:

29%

6,846

of pipeline is related to EVs, solar, battery storage or semiconductors

potential jobs

$7.43B

potential fixed asset investment

International Opportunities

47%

are international, with 8,162 potential jobs created

Japan 13 projects

South Korea 7 projects

China 6 projects

Germany 4 projects

Source: One Columbus, active pipeline at end of Q3 (September 30, 2023).

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Q3 PROJECT ANNOUNCEMENTS

6

$243.5M

wins

total fixed investment

100%

of announcements were expansions of companies already located in the Columbus Region.

448

total jobs created

$27.1M

total jobs created payroll

50%

of announcements were expansions of companies headquartered here.

Headquarter Growth

The growth of our HQ companies totaled:

153

total jobs created

$9.6M

total jobs created payroll

$10.5M total fixed investment

Source: One Columbus, projects announced July 1, 2023 – September 30, 2023.

One Columbus project announcements only, does not encompass all market activity.

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NOTABLE ANNOUNCEMENTS Site Selection The Columbus Region was ranked as the nation’s #2 metro area in Site Selection’s 2023 Global Groundwork Index, an analysis of job creation, capital expenditures, and strategic infrastructure development. Since 2019, the Columbus Region has secured 27,788 committed jobs and $35.1 billion in capital investment. Total infrastructure investment in the Columbus Region, according to the Bipartisan Infrastructure Law Dashboard, reaches nearly $500 million.

Google Google announced it would invest $1.7 billion into technical infrastructure in Ohio. The spending includes further work on its New Albany, Columbus, and Lancaster data centers, as well as supporting “AI innovations” and Google Cloud services. Those centers are located on more than 600 acres.

Aunt Flow When Aunt Flow began in 2016, CEO Claire Coder was 18 years old and traveling door to door in businesses in downtown Columbus. Today, Aunt Flow’s period product machines can be found in locations across the United States, Canada, and even in the United Kingdom. They recently announced the addition of 19 new employees by the end of 2025 that will help take this revolutionary company to the next level.

One Columbus One Columbus was ranked No. 4 “best in class” regional economic development organization across the country, according to a new survey of site selection consultants released at the International Economic Development Council (IEDC) Annual Conference in Dallas. Conducted

by Development Counsellors International (DCI) every three years, the “Winning Strategies in Economic Development Marketing” survey has tracked trends in economic development since its inception in 1996.

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Green Fund The Columbus Region Green Fund announced its first investment to jumpstart small solar energy projects: an installation at a non-profit senior apartment complex in northeast Columbus. This project alone will produce about 500,000 kWh a year, enough electricity to power over 60 homes.

More importantly, it will save renters over $2 million throughout the system’s life and offset nearly 16,000 metric tons of carbon emissions, the equivalent of planting 17,000 trees or removing 31,000 gas-powered cars off the road for a year.

UMD Automated Systems UMD Automated Systems celebrated the groundbreaking of a new 29,000 square-foot addition to their facility in Knox County, adding 15-20 new full-time employees. What started in 1996 with a handful of employees is now supplying manufacturers around the world.

Cirba Solutions Cirba Solutions broke ground on their newest expansion. Once fully operational, the $250 million investment will power the production of 200,000 electric vehicle batteries per year, adding more than 100 new jobs. Secretary of Energy Jennifer Granholm was on hand to congratulate Cirba Solutions for being the first awardee of the DOE’s Office of Manufacturing and Energy Supply Chains grant program as part of the federal Bipartisan Infrastructure Law.

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STRATEGIC INITIATIVES Transformational Work Smart Columbus coordinated a successful launch for the first E-Bike incentive program on behalf of Columbus City Council with over 1,000 residents applying for 100-150 available incentives in the first 28 hours of the release. This pilot represents an important milestone in the City’s efforts to reduce GhG emissions and will increase equitable access to opportunity for all residents.

Affordable Housing Initiatives The nonprofit Ohio Capital Finance Corporation announced the creation of a $50 million fund to expand Nationwide Children’s Hospital’s affordable housing initiatives in Columbus’ Linden neighborhood. The Linden Healthy Homes Fund II will allow Healthy Homes, the affordable housing arm of Nationwide Children’s Healthy Neighborhoods Healthy Families initiative, to further its commitment to invest in community health with the development of 150 rental units over the next 10 years.

Big Win for Columbus State When the National Science Foundation was looking for a school to lead a national effort to boost training for in-demand IT careers, they looked to Columbus State Community College. Utilizing a $7.5 million grant, Columbus State will lead the new National Information Technology Innovation Center and will work with employers, community colleges across the country, and others to prepare highly skilled technicians through credential programs that take two years or less.

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Goodwill Going the Extra Mile Goodwill Columbus opened its third and largest job training center at its Brice Road facility on Columbus’ Southeast Side. The center’s free training, including certifications, will focus on being a partner for the state’s Office of Workforce Transformation’s Broadband and 5G Sector Workforce Strategy. Since making their training centers a high priority, demand for those services has seen a significant jump.

MORPC Achieves Major Designation The Mid-Ohio Regional Planning Commission (MORPC) announced that the application for the Columbus Region to be designated as an Economic Development District (EDD) by the U.S. Department of Commerce’s Economic Development Administration (EDA) has been approved.

The Columbus Region becomes the largest metropolitan area in Ohio to achieve this designation.

EDDs are multi-jurisdictional entities helping to lead the locally based, regionally driven economic development planning process that leverages the involvement of the public, private, and non-profit sectors to establish an economic development roadmap for regional collaboration.

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