A Leading Technology & Innovation Hub
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1 GREATER CINCINNATI: A Leading Technology & Innovation Hub INFORMATION TECHNOLOGY
2 IF YOU RE LOOKING for the best place to turn your IT innovation into a reality or take your existing business to the next level, Greater Cincinnati is it. Our global companies are driving innovation in several industry sectors which is positioning Greater Cincinnati as a leading IT and innovation hub. In fact, our region outranks Silicon Valley and Boston in tech job growth and metro STEM rankings. In addition, companies of all sizes, from startups to Fortune 500 firms, effectively compete and grow in Greater Cincinnati thanks to our solid foundation of pro-business financial incentives, resources and a well-connected business community that is fiercely committed to helping companies innovate and succeed. And with the second-lowest business operating costs in the nation, it costs less to run a business here than any other large city. EXPLORE HOW YOU CAN PUT OUR REGION S ADVANTAGES TO WORK FOR YOUR COMPANY. IN GOOD COMPANY 18 CENTERS OF INNOVATION & IT EXCELLENCE Cincinnati Bell Technology Solutions Cincinnati Children s Hospital Medical Center Citi Convergys Fidelity Investments Fifth Third Bancorp GE Aviation International Paper Great American Insurance lyondellbasell Ohio Casualty P&G The Cincinnati Insurance Companies Tata Consultancy North America The Kroger Co. Vantiv, Inc. ThyssenKrupp Bilstein Western & Southern Financial Group INDIANA GREATER CINCINNATI KENTUCKY OHIO The Regional Economic Development Initiative (REDI) Cincinnati is the first point-of-contact if you re interested in starting, locating or expanding your business in our 15-county region in Southwest Ohio, Northern Kentucky and Southeast Indiana. REDI Cincinnati is comprised of top business leaders, investors and community partners and features a team of economic development professionals who will connect you with the right resources to explore all the advantages our region offers.
3 GREATER CINCINNATI: A REGION OF OPPORTUNITIES Greater Cincinnati s momentum, resources, talent, and demand for technology have never been stronger. As a result, our region is fertile ground to launch new technology businesses and to establish corporate centers of technology and innovation. ADVANCED MANUFACTURING The use of advanced technology is critical to the current and future success of advanced manufacturing firms, and since there are 3,000+ industry-related companies in our region, demand is high. That s why industry leaders like GE Aviation, lyondellbasell, and ThyssenKrupp Bilstein have centers of innovation and IT excellence in our region. CONSUMER INSIGHTS Knowledge is power for consumer products companies and retailers, particularly when it comes to understanding the purchasing behavior of their customers. As the home of 200+ consumer products companies, there is a large need for data insights and analytics services. To tap into this opportunity, eight of the top 25 big data firms in the nation are in Greater Cincinnati, including dunnhumby USA, established in 2003 by The Kroger Co. and UK-based dunnhumby Ltd. Cincinnati is one of the ten cities on the brink of becoming the next Silicon Valley. Bright.com BIOHEALTH Our region has a long track record of developing and commercializing major medical innovations. One of our most recent is a ground-breaking technology for neuropsychiatric disorders that was discovered by Cincinnati Children s Hospital Medical Center and the Mayo Clinic. In 2006, they formed Assurex Health to license and commercialize the technology. Today, the company is a leader in personalized medicine. Our region also features a number of accelerators, incubators and funding sources for healthcare IT and life sciences startups. FINANCIAL SERVICES Some of the largest and most successful insurance and financial services companies in the U.S. are headquartered in our region. Several have major technology centers in Greater Cincinnati, where they maintain their competitive edge by investing in emerging technologies, including Citi, Fidelity Investments, Fifth Third Bancorp, Great American Insurance, Ohio Casualty, The Cincinnati Insurance Companies, Vantiv, Inc., and Western & Southern Financial Group. In fact, Fortune 1000 Vantiv, Inc., was named as one of America s fastest growing tech companies in 2013 by Forbes magazine.
4 WORKFORCE With a talent pool of 30,000 IT professionals, there s access to tech talent to help drive innovation. We re currently developing tomorrow s workforce through numerous STEM initiatives as well as through strong educational programs like the renowned Northern Kentucky University s Informatics Center and the University of Cincinnati s Graduate Analytics program. Our colleges and universities also offer co-op programs, internships and workforce development programs to help companies strengthen the skills of their employees. IT BUSINESSES SUCCEED HERE CURRENTLY 30,000 IT PROFESSIONALS 10,000 new tech jobs are expected to be created in our region by Over 2,000 businesses covering the span of IT sectors are thriving in Greater Cincinnati FORTUNE COMPANIES OPERATE HERE 17 Fortune headquarters; 9 of which are Fortune 500
5 A LEGACY OF IT INNOVATION AND SUCCESS $3 BILLION Spent each year on IT-related services by Greater Cincinnati s top CIOs of Fortune 500 and 1000 headquartered companies. 8 LEADING BIG DATA FIRMS Nielsen Kantar Ipsos Information Resources, Inc. (IRI) Gfk USA dunnhumby USA ORC International Burke Inc Foreign-owned firms employ 50,000 in Greater Cincinnati STRONG U.S. INFLUENCE $2.5 Billion Greater Cincinnati s IT impact on the country s GDP
6 #2 lowest business operating costs of all U.S. cities with populations of two million or more 2013 KPMG Competitive Alternatives Study #2 place where startups are thriving CNN Money Top 10 in the nation for new and expanded business facilities Site Selection magazine #9 economic growth potential Business Facilities magazine #3 best city for young entrepreneurs Under30CEO.com 5 Greater Cincinnati companies are the Most Innovative Users of Technology : Cincinnati Children s Hospital Medical Center, the Cincinnati Insurance Companies, Convergys, P&G, and Tata Consultancy Services Information Week
7 Cincinnati is a true sweet spot for running a business. The combination of world-class talent, low business operating costs, and an incredibly high quality of life makes it possible for us to attract and retain high quality talent at around 50 percent of the cost of our competitors in Silicon Valley and New York City. Dave Heilman, COO, Sparkpeople.com 4,000+ High-tech interns placed in Ohio businesses by Ohio s Third Frontier Internship Program 0% Ohio s corporate income and inventory taxes I believe Cincinnati should be ranked in the top five locations worldwide to start and grow a business. Based on my experience, it is the right city to be in. Thomas Nies, Founder and CEO, Cincom Systems, Inc. Cincinnati is one of the surprising cities creating the most high tech jobs Newgeography.com Cincinnati is one of the most unexpected cities for high tech innovation Techie.com
8 ACCESSIBLE Easy access to 2.1+ million people in the area, 25 of the largest metro regions, over half of all U.S. manufacturing establishments, and half of the U.S. population. STABLE Enjoy a low-risk, high-return business environment that yields steady, solid results with the lowest business and capital investment tax rates in the Midwest. TALENT Tap into any one of the 14 colleges, universities and professional schools for tomorrow s talented leaders. LIFE Take advantage of the safe, affordable lively environment where the cost of living is 10% less than the national average. GLOBAL Benefit from the 450 foreign-owned firms that operate here and the headquarters of 9 Fortune 500 companies more per capita than Los Angeles, New York or Chicago. Let the Regional Economic Development Initiative (REDI) Cincinnati connect your company to all of the advantages the Greater Cincinnati region offers. To learn more, please contact REDI Cincinnati at or visit our website at REDICincinnati.com. 300 Carew Tower 441 Vine Street Cincinnati, OH (513) Info@REDICincinnati.com REDICincinnati.com GrowCincyUSA REDICincinnati REDI Cincinnati x ps
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