A year ago the crises piled up and the head of the Columbus partnership, Alex Fischer, was worried.
Along with a public health emergency, the coronavirus pandemic did serious damage to the central Ohio economy. Then came the questions of social justice and race following the murder of George Floyd by a police officer in Minneapolis and the protests that followed in Columbus and other cities.
“We had to survive. If you can’t survive, you can’t live to work on many other difficult things, ”said Fischer, the president and CEO of Partnership, a nonprofit, public-private economic development group led by 75 CEOs and executives in the region is directed. “Every time we got the right shot, a left-handed person would come straight at us.”
Survival meant working with state and local governments and CEOs on a weekly or even daily basis to help businesses cope with the economic uncertainties created by the pandemic. It also meant working closely with federal partners on stimulus programs that provided much-needed money to help businesses and consumers navigate the darkest days of the pandemic.
Now that the worst days of the pandemic are over, the partnership has focused back on the very reason it was founded: economic development and making the region a more prosperous place for all.
“If you had asked me a year ago, I would have been terrified of what the coming year would be like,” says Fischer. “Sitting here with a pipeline and activity level as busy as I’ve ever seen suggests that the growth agenda will continue.”
Columbus, the region’s business development agency, has never been so busy with better prospects and shorter timeframes, he says. That is despite all the uncertainty surrounding COVID-19.
“Economic growth is taking place. We continue to have a competitive agenda. It hasn’t slowed down, ”he says.
But that mandate is now overlaid with an additional fee to address racial issues following the protests that began following Floyd’s death last summer.
“We have systemic racism in Corporate America and Corporate Columbus,” says Fischer. “If I can admit that now and say that we will work on it, couldn’t we also admit it in other segments of our society?”
Last year, the partnership CEOs had tough conversations about race and racism and what to do to make the economy as inclusive as possible, he says. CEOs have never been more dedicated to a single issue, he says.
In addition to addressing racial issues, building a more diverse economy also means people with disabilities, people of different faiths, veterans, members of the LBGTQ community, and others, say local CEOs. Inclusivity is the right thing to do – and crucial for economic development.
“The more diverse the community is and the more we talk about it, the more new business will be drawn here,” said Mike Kaufmann, CEO of Cardinal Health and one of the leaders of the partnership’s diversity efforts.
“Making sure the workplace reflects the diversity of the marketplace we live and work in is only good business and good for business,” said Kirt Walker, Nationwide CEO. “If we want to attract the best and most versatile talent we need, we have to consciously build a workforce in which people from all walks of life can see each other in the Columbus family photo.”
Keeping talented people and getting more to work for Columbus is a top priority for Columbus, says Walker.
“We need to make sure we keep the talent who is here as we continue to target Central Ohio for the most diverse talent who want to move and settle here,” he says.
Nick Akins, chairman, president and CEO of American Electric Power, says the definition of economic development is broadening.
“It’s not just about jobs, industries and attractions, but also about the Columbus brand. What is the culture like? What is the tax situation like? ”Akins says.
Columbus is considered more advanced when it comes to environmental issues, he says. The impartial consensus on issues like education and race helped build a brand for the city, he says.
The emphasis on a clean energy economy and a reliable power grid is attracting interest from companies that are more focused on environmental, social and governance issues, he says.
“Columbus has put itself on the map with electric vehicles. It’s a forerunner of great change, and Columbus is leading the way, ”says Akins.
Companies considering a location in the region are demanding renewable energies. At the same time, most members of the Ohio General Assembly were reluctant to expand renewable energy in the state.
“This is a huge opportunity,” says Fischer. “Either we will grow and move forward or we will be left behind. If we are left behind in the renewable energy business, other industries will be right behind because they want renewable energies. “
Fischer says Columbus has been blessed with several benefits that should fuel the economy in the years to come.
“We are close to the places where people want to live, start a family, live, work and play in the future,” he says.
Ohio State University and the other colleges and universities here provide an ongoing talent pool for businesses in central Ohio, he says.
The region is emerging as a center for life sciences, including the creation of Ohio State’s $ 1.1 billion Columbus Innovation District, Nationwide Children’s Hospital and JobsOhio, and Battelle’s recent announcement, along with other investors, a $ 200 million Open a dollar-expensive gene therapy startup.
Venture capital investments, be it companies like Drive Capital or Nationwide’s $ 350 million venture capital operation, help drive investments in technology and innovation, he says. The Scioto Peninsula project spans the Scioto River downtown.
“If we could do this locally, everyone wins,” said Walker of Nationwide’s $ 350 million fund. “We support the local economy, the needs of the community and our members, and we help start-ups and small businesses.”
Steve Steinour, chairman, president and CEO of Huntington Bancshares, says the region’s success in insurance, healthcare, technology, retail and education gives it an edge when it comes to attracting businesses. The startups and venture capital funds flowing into the region are strengths of the region.
“We believe that with the success of the vaccination program and the course of events, we are ready to move forward,” says Steinour. “The optimism is great. There is a lot of catching up to do. “
Steinour says he would like to see the federal stimulus dollar inflow used to address long-term problems Columbus faces, such as affordable housing.
“Let’s make a dollar invested out of it and do good for the future of Columbus and help residents survive the pandemic,” he says.
Fischer worries about the political division in the country and whether this will harm the regional economy.
The partnership has always prided itself on working with Republicans and Democrats locally, statewide, and nationally to get things done, says Fischer.
“I’m worried that will change,” he says. “I’m worried that this will change at the local level. I’m worried that this will change at the state level. “
Mark Williams writes about banking, insurance, and business for The Dispatch.
