The U.S. Department of Housing and Urban Development (HUD) held a special announcement event this morning in Franklinton where it was revealed that Columbus will receive $23.2 Million this year to assist neighborhoods with vacant housing in their efforts for urban renewal.

Funding for the Neighborhood Stabilization Program comes from the American Recovery and Reinvestment Act, the federal program for economic stimulus. More information can be found online at Recovery.gov.

A report released today by the Columbus Chamber of Commerce projects that the regional retail sector for the Central Ohio region will steadily rebound and grow over the next 10 years. “Because the Columbus MSA did not fully participate in the boom, the recession has affected employment to a much smaller-than-average degree,” said Bill LaFayette, Ph.D., vice president of economic analysis for the Columbus Chamber.

Additional information can be found in the press release below. [Read More]

Back in May there was a bit of a hullabaloo about how the Columbus Blue Jackets could solve their economic issues, which included the idea of having Franklin County purchase Nationwide Arena.

Today, the Columbus Chamber of Commerce released a report that provides their analysis on the situation with the Blue Jackets, and provides nearly 20 different options on how the team can be retained and economic development of the Arena District increased. [Read More]

In most business-related polls, Ohio typically does not fare very well. In fact, the most recent “Best States for Business” report from Forbes has Ohio clocked in at #37.

But a new “Best Business Climate” report from Site Selection Magazine lists the state of Ohio near the top of the charts in 4th place, with only North Carolina, Texas and Virginia faring better. Why the drastic difference? Are the methodologies being used in these surveys that much different? Should we be taking one of these surveys more seriously than the other, or should we be averaging the two scores together to try to figure out where we actually stand?

According to a new study by U.S. News & World Report, Columbus was noted as one of the Top 10 cities in America for finding a job. Our strong healthcare, distribution, and technology industries are cited as a main reason that our city has managed to remain stable during the national economic recession.

Other cities on the list include Arlington, Houston, Oklahoma City, and Salt Lake City. The full article can be read here. For a deeper look into the Columbus Economy, check out our detailed interview with Dr. Bill LaFayette here.

The economic recession hasn’t prevented Ohioans from spending money on booze. In fact… it sounds like it’s actually helping that sector of our economy.

According to an announcement released today by the Ohio Department of Commerce, liquor sales have reached a record high for the 2009 fiscal year. A total of $729.9 million was spent on spirits throughout the state of Ohio, a 4.6% increase over 2008 sales figures.

A total of 10.6 million gallons of spirtous liquor was sold in Ohio in 2009. Congratulations to everyone involved in helping to set this new record!

We recently sat down with Dr. Bill LaFayette, the Vice President of Economic Analysis at the Columbus Chamber of Commerce, to discuss a variety of topics related to the Columbus economy.

Bill shares with us his professional insight and research on some of the most important job sectors in the region, the growing importance of the creative class and urban renewal, and his thoughts on how Columbus is weathering the current economic recession. [Read More]

From Business First of Columbus:

Report: Columbus holding its own amid recession

Columbus is feeling the sting of the recession like any other metropolitan area in the nation, but a new report indicates it’s holding up better than other big cities in Ohio – not to mention dozens of other major cities in the U.S.

The report placed the Columbus metropolitan statistical area 40th among those ranked for its strength, based on employment, unemployment, wage, output, home prices and foreclosure data.

[Read More]

Last fall, we introduced Creative Columbus to readers on Columbus Underground. Later that year, many of you responded to our survey of creative sector employers, sole proprietors, employees, and students. Thank you all so much for your input and participation. The resulting study – Creative Columbus: a picture of the creative economy of Central Ohio – is now out. Creative Columbus takes an in-depth look at our region’s arts, design, media, and marketing industries, including their size, characteristics, magnitude, and direct economic value. [Read More]

From The Dispatch:

Grove City meets Hollywood as Netflix brings central distribution center here
By Tim Feran

With the snap of a movie clapper board, a little bit of Hollywood put down roots in Grove City yesterday. Netflix, the world’s largest online movie-rental service, has moved its central operations center — and initially, 120 jobs — to Grove City from Sunnyvale, Calif.

[Read More]