Ohio Ranks No. 1 in New and Expanded Capital Projects – Site Selection magazine announced last month that the State of Ohio has been awarded the Governor’s Cup Award for leading the nation in new and expanded capital projects for 2008. This is Ohio’s third Governor’s Cup in a row and its fourth in the past six years. Ohio’s 504 projects total narrowly edged runner-up Texas’ 497 qualified projects. Michigan, Pennsylvania and North Carolina completed the top five. Much of Ohio’s capital investment was the result of enhanced economic development efforts in the Cleveland Plus region, as the region accounted for 30% of the state’s total projects. The Cleveland Plus region, which includes Stark County, added more than 6,000 new jobs and more than $1.2 billion in capital investment. New and expanded facilities in Northeast Ohio in 2008 spanned many industries with companies that include ViewRay, Affymetrix, and Proxy BioMedical’s decision to bring operations to Northeast Ohio because of the biomedical assets. In addition, the region’s strong concentration of headquarters’ employment and capabilities helped secure expansion decisions by several of the region’s largest employers including Eaton, Bridgestone, Shearer’s Foods, Infocision and Smuckers. To read the magazine article, click here.
Timken Signs Agreement to Supply Wind Power Equipment Manufacturer in China – The Timken Company has signed a long-term, multi-year agreement to supply wind turbine gearbox bearings for Nanjing High Speed Gear Manufacturing Co. (NGC), a manufacturer of wind power, marine, construction and industrial gear transmission equipment based in China. Timken will supply tapered and cylindrical roller bearings for use in NGC’s wind power gearboxes. Revenues in the first phase of the agreement are expected to be worth an estimated $30 million (US) to Timken, with additional growth anticipated after 2010. Mike Connors, president of Process Industries at Timken had this to say: “This is another great success for Timken in the China wind energy market sector. Our strategy is to work with leading companies in the industry, companies that compete on product performance, durability, and reliability and that demand the highest level of expertise in friction management and power transmission from their suppliers.” To read about this announcement and to learn more about The Timken Company, click here.
Awarding of Associate Degrees Growing in Stark County – Stark County’s two public colleges awarded 925 associate degrees in 2008, according to figures released by the Ohio Board of Regents. The awards represented a 7% increase over 2007 for Stark State College of Technology and an 8% increase for Kent State University Stark. The growth at both institutions outpaces the state average of 5%. Stark State accounted for 835 degrees, while Kent State awarded 90. Kent Stark has diversified over the past several years and now offers 11 bachelor degree programs, a professional MBA, and a master’s in education in addition to its associate degrees. To read this Stark Education Partnership article, click here.
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