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$1.50/JANUARY 31 - FEBRUARY 6, 2011
Third Frontier boss prioritizes faster returns Department of Development’s new head eyes investments that spur jobs quickly By CHUCK SODER csoder@crain.com
COLUMBUS — High-tech projects designed to create jobs within a few years will get more money if Mark Kvamme is successful in reshaping the Ohio Third Frontier program. Mr. Kvamme, interim director of the Ohio Department of Development, said he wants the Third Frontier program to put more money toward projects that can spur significant job creation in three to five years. In the past, most Third Fron-
tier grants have gone to projects with longer time horizons, including many in the range of seven to 10 years, Mr. Kvamme said. “My gut would be over 50% should be” used to finance projects with a near-term payoff, he told Crain’s last Thursday, Jan. 27, at a meeting of the Third Frontier Commission in Columbus. Kvamme, a partner with a Silicon Valley firm that makes venture capital and private equity investments, said he was uncertain what the percentage is today but suggested it is much lower. See PROJECTS Page 17
Nordson opens new doors with ‘green’ Westlake HQ High-tech home meets tougher LEED standards
RINGING IN A NEW ERA As centennial nears and membership struggles, The City Club wants to make sure it still strikes a chord with community By MICHELLE PARK mpark@crain.com
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he gong sounds and the Friday Forum begins. Here, the crowd doesn’t need e-mail, Twitter or Facebook to communicate with the founder and president of the Arab American Institute in Washington, D.C. They don’t need 24-hour news sites to tell them he’s written a book or to detail his belief that the United
States doesn’t listen to the Arab world. They sit at tables plated with lentil salads and other food and hear it straight from Dr. James Zogby. Then, they ask him questions, and a few even share observations they’ve made in their own travels to Arab countries. It’s been nearly 100 years since The City Club of Cleveland began delivering this form of forum in 1912. If the nonprofit is to endure another century, there’s work to be done. See CLUB Page 7
By DAN SHINGLER dshingler@crain.com
Nordson Corp. isn’t just staying in Westlake — it’s getting downright comfortable in the suburb and plans to stay long enough to more than recoup its investment in a high-tech, LEED-certified building that it’s unveiling today, Jan. 31. The company, which makes automated dispensing systems that it says glue together everything “from cereal boxes to semiconductors,” spent more than $5 million on the
28,000-square-foot structure it began occupying in late November and now fills. The building stands as a See NORDSON Page 6
INSIDE Alternative medicine’s benefits Parker Hannifin offers its employees benefits that cover most of the cost of alternative medicine treatments, including on-site massages and acupuncture. Read Tim Magaw’s story on Page 3.
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SPECIAL SECTION
FINANCE Healthy banks may go on a shopping spree this year ■ Page 13 PLUS: Q&A ■ TAX SEASON ■ ACCOUNTING RULES ■ & MORE
Entire contents © 2011 by Crain Communications Inc. Vol. 32, No. 5