The business-attraction group says it helped bring a dozen companies, 672 new jobs and $40 million in payroll to the 16-county area last year. Many of the companies are small to mid-size businesses; five are tied to health care or the biomedical industry; and six are international.
A view of Rosetta's new home, a former National City building on Euclid Avenue in Cleveland. The photo was edited to add Rosetta's sign. The digital marketing agency is one of 12 companies that expanded or arrived in Northeast Ohio last year with help from Team NEO, the business-attraction group says.Despite the dour economy, Team NEO attracted an all-time high of 12 companies to the 16-county region last year, the economic-development group said Monday. Those companies collectively promised fewer jobs, but higher pay, than businesses recruited by the nonprofit group and its partners in 2008 and 2009.
Team NEO works with the state and other economic-development organizations to lure new companies to Northeast Ohio and assist businesses considering a relocation or expansion here. Last year, the group was involved with more than 80 projects, ranging from weeks working with a single company to the occasional meeting with a prospective business.
Chief Executive Officer Tom Waltermire expects more activity in 2011, particularly from biomedical companies. Last year, five of the 12 companies had ties to health care, from pharmaceutical research to medical-device manufacturing. Most of Team NEO's recent wins involve small to mid-size companies, many with international ties.
"We've only been doing this for four years, so we are continuing to elevate the awareness of the attractiveness of Northeast Ohio among the business community nationally, as well as globally," Waltermire said. "We're also clearly seeing a gradual global economic pickup, and we are expecting even more activity next year."
Team NEO counted Rosetta, a digital marketing agency, among its dozen victories for 2010. But the agency, which is based in Hamilton, N.J., has maintained a large hub here since 2008, when it acquired the Brulant agency in Beachwood. A year ago, Rosetta announced plans to move more than 300 employees from Beachwood and Independence to downtown Cleveland and to expand its ranks.
Waltermire said Team NEO helped ensure that Rosetta would maintain and add jobs in Northeast Ohio. The group's job-creation figure of 672 positions includes 50 new jobs at Rosetta.
Team NEO and its partners say they have recruited 41 companies to the region since 2007, accounting for 3,500 jobs and $135 million in annual payroll.
The group draws support from foundations and the business community throughout its 16-county coverage area.