Business & Economy

Phong Nguyen/Flickr

Earlier this year, the city of Columbus commissioned a study on the use of tax incentives in four different neighborhoods: the Short North, Linden, Near Eastside, and the Hilltop. Researchers found that in the Short North, generous tax abatements were not necessary to spur certain types of residential development.

The White House is showcasing products from each state as part of its "Made in America" week.

The list includes some iconic U.S. brands — for example, Gibson Guitars from Tennessee and Steinway pianos from New York. Vermont Maple syrup and California wine are on the list. American flag manufacturers are highlighted from two states (Utah and Virginia).

Some of the choices are less obvious, like wheel barrows from Pennsylvania and door hinges from Missouri.

Jeff St. Clair / WKSU

A new report by the Brookings Institution shows signs of a slowdown in the auto industry that will likely resound throughout the manufacturing economy. And Northeast Ohio is identified as among the areas that will be hurt.

Shares for New Albany-based Abercrombie & Fitch Co. tumbled Monday after news that the struggling retailer decided against selling its business.

Tanisha Robinson/Facebook

The American arm of Scotland-based craft beer maker BrewDog has a new director. Columbus entrepreneur Tanisha Robinson comes to the just-opened Canal Winchester offices of BrewDog after cutting her teeth in the apparel and tech sectors.

Nick Fancher/Aunt Flow

Boxes of tampons line the wall of a small warehouse in west Columbus. T-shirts read, “People helping people, period.” And buttons with cartoons of ovaries have slogans like “ova achiever” and “caution: I ovary-react.”

Marijuana
File photo

The window to apply to become growers under Ohio’s medical marijuana program has closed, with the state receiving 185 applications – all with nonrefundable fees attached.

Videoboard at 2016 Republican National Convention in Cleveland.
M.L. Schultze / WKSU

Nearly a year after the Republican National Convention in Cleveland, a report on its economic impact in Northeast Ohio has yet to be released. The researchers hired to complete the report submitted a draft but its release date is not known.

Ok, I have to admit I set up a choice assignment for myself; getting a closer look at, and taste of, the three Maverick Chocolate bars declared winners at The International Chocolate Awards June 27, 2017 in New York.

Why can't kids today just work their way through college the way earlier generations did?

The answer to that question isn't psychology. It's math. A summer job just doesn't have the purchasing power it used to, especially when you compare it with the cost of college.

Let's take the example of a working-class student at a four-year public university who's getting no help from Mom and Dad. In 1981-'82, the average full cost to attend was $2,870. That's for tuition, fees and room and board.

Rolf Pendall
Federal Reserve Bank of Cleveland

The industrial heartland continues to struggle with the legacy of lost jobs and population. But whether it continues to be known as a rust belt or for its renewal depends on whether Ohio invests in immigrants and young people. 

Rolf Pendall of the Urban Institute acknowledges birth rates are expected to fall behind death rates in the Great Lakes region by 2030.

But he notes that 600,000 babies are born each year in the six states including Ohio. And their parents are the millennials and immigrants their communities often disparage or ignore.

Uber Co-Founder Travis Kalanick Resigns Under Pressure As CEO

Jun 21, 2017

Updated at 9:50 a.m. ET

The chief of Uber has resigned. Travis Kalanick, under pressure from his top investors, announced his departure Tuesday night. The move, which comes as a surprise to employees, plunges one of the largest private companies on Earth into an even bigger leadership vacuum.

A week ago, Kalanick said he was stepping away from his position as CEO temporarily, taking a leave of absence to mourn his mother, who recently died in a boating accident, and to work on his leadership, to grow into "Travis 2.0."

Google Maps

Entrepreneurs looking to start food-based businesses in the Miami Valley will soon have the opportunity to create and test their recipes in Fairborn. City officials Wednesday announced a new initiative to support small business entrepreneurs with a shared kitchen and office space incubator. 

Updated at 9:20 a.m. ET on June 19

Amazon is buying Whole Foods, in a merger that values Whole Foods stock at $42 a share — a premium over the price of around $33 at the close of trading on Thursday. The Internet retailer says it's buying the brick-and-mortar fixture in a deal that is valued at $13.7 billion.

Whole Foods, which opened its first store in Austin, Texas, back in 1980, now has 465 stores in North America and the U.K.

Columbus Arts Festival: the Business of Art

Jun 9, 2017
The Columbus Arts Festival
Paul Cook / Flickr

How does an artist make a living? Many artists are talented and creative, but the trick is to turn that creativity into a business successful enough to make a living. 

Broadcasting from the Columbus Arts Festival in downtown Columbus, we will sit down with a panel of experts to talk about the business of art. 

IKEA/Twitter

After months of press conferences, hiring announcements and promotions to lure in customers, the north Columbus IKEA store is opening on Wednesday.

IKEA

On Monday customers will begin lining up outside the Central Ohio IKEA location for a chance to win door prizes, but opening isn't until Wednesday when thousands are expected visit.

All this hype means serious traffic for local commuters. Columbus police have been planning for what could be a chaotic couple of days.
 

Esther Honig

It's a wet and overcast morning on Buckeye Lake, the century year-old manmade lake just 30 minutes east of Columbus.

Despite the weather, Dave Levacy—owner of Buckeye Lake Marina—is rushing to clean and service hundreds of boats for Memorial Day weekend. 

Senate Republicans voted Wednesday night to rescind an Obama-era policy that allows states to offer retirement savings plans to millions of workers.

Retiree and worker protection groups say the move will hurt employees at small businesses.

Many small businesses say they can't afford to set up retirement savings plans, such as 401(k) plans, for their workers. That's a big reason why so many Americans aren't saving, says Cristina Martin Firvida, the AARP's director of government affairs.

Immigration advocates claim that about half of the most lucrative startups in America were founded by immigrants. But it's complicated for a foreigner to start a company in America — there's no such thing as a startup visa.

That's why some entrepreneurs are "hacking the system" through a workaround that started as an experiment in Massachusetts and has expanded to five other states.

The U.S. economy grew at just a 0.7 percent annual rate in the first quarter of this year, according to the latest report on the gross domestic product from the Commerce Department. That's below market expectations and indicates the economy grew at the slowest pace in three years.

Weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling. Employment costs rose 0.8 percent in the first quarter.

Here's the good news about young adults in the U.S. over the past four decades: More of them are working full time and year-round.

In 1975, close to 67 percent of adults from ages 25 to 34 were employed full time, and that share increased to 77 percent by 2016, according to a new report on young adults by the U.S. Census Bureau.

Updated at 11 a.m. ET with retail outlook

After adding more than 200,000 jobs in each of the first two months of this year, the U.S. economy gained only 98,000 jobs in March, according to the monthly report released Friday by the Bureau of Labor Statistics.

That result falls short of expectations: While analysts had anticipated a slight dip to around 180,000 new jobs, they had been looking for signs that job growth would keep pace with recent gains.

Donald Trump won the backing of the National Rifle Association and many gun owners by opposing limits to the Second Amendment's right to bear arms. But since his election and in the early months of his presidency, Trump has not been good for the gun business.

Shares of publicly traded firearms companies have fallen. The pro-gun president nicking the fortunes of the industry he vowed to protect may seem illogical on its face.

Keyboard
Flickr / Creative Commons

Cyber security experts from around the country gather in Lewis Center on Friday for a conference on how to prevent and mitigate cyber attacks.

Ohio Statehouse
KAREN KASLER / Ohio Public Radio

Cities across the state impose a tax on the profits earned by local businesses. This accounts for about 14 percent of total municipal tax collections - funds that cities rely on heavily to pay for everything from police to garbage collection.

Mandie Trimble / WOSU

Changes to Ohio's concealed carry law take effect Tuesday. That means more places - like daycares, government building and universities - have the option to allow people to carry a concealed firearm in public. But advocates on both sides aren't thrilled.

Mike Seyfang/Flickr

Amazon has claimed a piece of prime Columbus real estate, releasing a proposal this week to open an Amazon Campus bookstore in the University District.

Pages