Regional Economy
massive new wind turbine makes noise in forbes
Forbes featured an article on Cleveland's new wind turbine, stating that "Ohio has gotten a sneak peek at what expanding wind power will look like near Lake Erie."
The turbine, which was made in Germany, arrived Monday at the Port of Cleveland. It will be installed at the Lincoln Electric Co. in Euclid.
The wind turbine will measure 24 stories high to the tip of the blade. "The turbine has blades 165 feet long," the article states. "It will stand about three times taller than the wind turbine at Cleveland's Great Lakes Science Center."
Cuyahoga County made a $350,000 forgivable loan toward the cost of the turbine.
Read the rest here.
The turbine, which was made in Germany, arrived Monday at the Port of Cleveland. It will be installed at the Lincoln Electric Co. in Euclid.
The wind turbine will measure 24 stories high to the tip of the blade. "The turbine has blades 165 feet long," the article states. "It will stand about three times taller than the wind turbine at Cleveland's Great Lakes Science Center."
Cuyahoga County made a $350,000 forgivable loan toward the cost of the turbine.
Read the rest here.
When it comes to adapting to today's marketplace, the Manufacturing Advocacy & Growth Network -- aka MAGNET -- is a manufacturer's best friend. The Cleveland-based organization helps companies uncover new products, new markets, and new opportunities for growth. We recently spoke with CEO Daniel Berry about the current state of manufacturing in NEO.
While it's common for individual companies to develop a business plan to help prepare for success, Northeast Ohio is one of only three regions in the country to pilot a regional business development plan. The Partnership for Regional Innovation Services to Manufacturers (PRISM) will be headed by MAGNET to help small and medium sized manufacturers thrive in the region.
"It's basically a way to ramp up the level of innovation in the manufacturing sector," says John Schober, MAGNET's director of innovation. "Lots of businesses out there have the potential to grow, but they don't have the resources available to grow."
For instance, these companies may not have access to resources such as marketing or R&D departments. "The PRISM program will help manufacturers identify and access these resourcces," says Schober. "People have been talking about what's going wrong for a while, but no one's talking about what to do about it."
This initiative will take the sub-networks -- government, education, the manufacturing sector, economic development organizations, and service -- and connect them. "The realization came that we're in these networks and we see the gap," says Schober. "We can connect those industries. So we get those collaboratons to solve a problem we've never solved before."
Several organizations have already shown support for the PRISM initiative, including Fund for Our Economic Future, The Cleveland Foundation, and the Greater Cleveland Partnership.
Source: John Schober
Writer: Karin Connelly
"It's basically a way to ramp up the level of innovation in the manufacturing sector," says John Schober, MAGNET's director of innovation. "Lots of businesses out there have the potential to grow, but they don't have the resources available to grow."
For instance, these companies may not have access to resources such as marketing or R&D departments. "The PRISM program will help manufacturers identify and access these resourcces," says Schober. "People have been talking about what's going wrong for a while, but no one's talking about what to do about it."
This initiative will take the sub-networks -- government, education, the manufacturing sector, economic development organizations, and service -- and connect them. "The realization came that we're in these networks and we see the gap," says Schober. "We can connect those industries. So we get those collaboratons to solve a problem we've never solved before."
Several organizations have already shown support for the PRISM initiative, including Fund for Our Economic Future, The Cleveland Foundation, and the Greater Cleveland Partnership.
Source: John Schober
Writer: Karin Connelly
When it comes to manufacturing facilities, the first things to come to mind are not state-of-the-art gyms, free personal trainers and tech-savvy employees. Yet Thogus, a national provider of plastic injection molding services based in Avon Lake, is no ordinary manufacturer.
"The perception of manufacturing facilities is that they're full of smokestacks, dirty and capital-intensive," Matt Hlavin, President of Thogus, told the audience at last week's sold out TEDxCLE conference. "We've created a culture in which everyone is an innovator, and we want our employees to have a work-life balance."
Thogus, founded in 1950 as a traditional tool and dye shop, got into the plastics industry in 1958. Hlavin joined the company in the late 90s and took over as President in 2009. In the past 15 years, Thogus has reinvented itself as a leader in the growing field of customized plastic injection molding.
"Today, our society is not about mass production, it's about mass customization," Hlavin said. "We're the next generation of manufacturing -- companies like ours take a customer's idea and help them to create it."
Since taking the helm, Hlavin has worked to develop the next generation of manufacturing employee by training his workers in the latest technology and providing a clean, modern work environment. Today, Thogus employees use crowd-sourcing to develop and test products, employ social media to communicate their latest product innovations, and maintain an ongoing rapport with customers. "We can make a customized iPhone cover in 45 minutes," Hlavin said.
As another example of Thogus' innovative products, Hlavin cited a device that will help autistic children to predict when they will get uncomfortable in their environment. The technology will help them to lead healthier and more normal lives.
Reinventing Thogus wasn't easy. After making a decision to get out of the automotive business and focus solely on plastic injection molding, Hlavin reduced his workforce by more than half. "This helped us to become a more agile company and go after the next generation of employee."
Source: Matt Hlavin
Writer: Lee Chilcote
"The perception of manufacturing facilities is that they're full of smokestacks, dirty and capital-intensive," Matt Hlavin, President of Thogus, told the audience at last week's sold out TEDxCLE conference. "We've created a culture in which everyone is an innovator, and we want our employees to have a work-life balance."
Thogus, founded in 1950 as a traditional tool and dye shop, got into the plastics industry in 1958. Hlavin joined the company in the late 90s and took over as President in 2009. In the past 15 years, Thogus has reinvented itself as a leader in the growing field of customized plastic injection molding.
"Today, our society is not about mass production, it's about mass customization," Hlavin said. "We're the next generation of manufacturing -- companies like ours take a customer's idea and help them to create it."
Since taking the helm, Hlavin has worked to develop the next generation of manufacturing employee by training his workers in the latest technology and providing a clean, modern work environment. Today, Thogus employees use crowd-sourcing to develop and test products, employ social media to communicate their latest product innovations, and maintain an ongoing rapport with customers. "We can make a customized iPhone cover in 45 minutes," Hlavin said.
As another example of Thogus' innovative products, Hlavin cited a device that will help autistic children to predict when they will get uncomfortable in their environment. The technology will help them to lead healthier and more normal lives.
Reinventing Thogus wasn't easy. After making a decision to get out of the automotive business and focus solely on plastic injection molding, Hlavin reduced his workforce by more than half. "This helped us to become a more agile company and go after the next generation of employee."
Source: Matt Hlavin
Writer: Lee Chilcote
JumpStart CEO Ray Leach has been named to the board of the National Venture Capital Association. The NVCA serves as the voice of the United States venture capital community and advocates for policies that encourage innovation and reward long-term investment.
While most of the organization's 400 members represent venture capital firms on the East and West coasts, Leach is the only member representing the Midwest. "In order to be successful as a non-profit, we need healthy venture capital nationally," says Leach. "It's a great way to be there, convincing them they have to invest in the Midwest."
Northeast Ohio leads the Midwest in venture capital deal activity, second only to Chicago in the amount of capital raised by companies with $234 million.
Leach is one of six new NVCA members elected to a four-year term. He was nominated by former NVCA board chair David Morgenthaler of Morganthaler Ventures and member Ray Lane with Kleiner Perkins, who thought Leach would be a good advocate for JumpStart's missives.
"I'm excited to play a role in advancing venture capital nationally and to offer my viewpoint from a region that's reinvented itself with the assistance of innovative initiatives like Ohio's state-led Third Frontier," says Leach. "For example, entrepreneurs in Northeast Ohio have raised more than $1.1 billion in venture capital in the last five years. By serving on the NVCA's board, I hope to bring greater visibility to our region's activity to increase investments and ultimately job growth."
Source: Ray Leach
Writer: Karin Connelly
While most of the organization's 400 members represent venture capital firms on the East and West coasts, Leach is the only member representing the Midwest. "In order to be successful as a non-profit, we need healthy venture capital nationally," says Leach. "It's a great way to be there, convincing them they have to invest in the Midwest."
Northeast Ohio leads the Midwest in venture capital deal activity, second only to Chicago in the amount of capital raised by companies with $234 million.
Leach is one of six new NVCA members elected to a four-year term. He was nominated by former NVCA board chair David Morgenthaler of Morganthaler Ventures and member Ray Lane with Kleiner Perkins, who thought Leach would be a good advocate for JumpStart's missives.
"I'm excited to play a role in advancing venture capital nationally and to offer my viewpoint from a region that's reinvented itself with the assistance of innovative initiatives like Ohio's state-led Third Frontier," says Leach. "For example, entrepreneurs in Northeast Ohio have raised more than $1.1 billion in venture capital in the last five years. By serving on the NVCA's board, I hope to bring greater visibility to our region's activity to increase investments and ultimately job growth."
Source: Ray Leach
Writer: Karin Connelly