April 2011 Newsletter

Welcome to new member Community Care Ambulance, 115 East 24th St., Ashtabula, Julie Rose, CEO

. Thanks to Gary Robinson.

U.S. Businesses Expect Faster Economic Growth

U.S. companies expect the economy to grow faster than previously estimated as demand from consumers, businesses and other countries picks up.

Gross domestic product in the world’s largest economy will expand at a 3.3% pace in 2011, up from the 2.6 % rate forecast in November, according to a survey by the National Association for Business Economics. Consumer spending, business investment and exports will also increase more than previously projected.

“The consumer sector is coming back, and we’re still looking at pretty good numbers coming from the business sector” according to the Federal Reserve Bank of Chicago.

The report, along with recent data showing stronger manufacturing, overseas demand and consumer confidence, adds to evidence the economy is gaining momentum in 2011. At the same time, a “tepid” housing market and sustained high unemployment will restrain growth this year.

Consumer spending, which accounts for about 70% of the economy, will grow 3.2 % this year, up from the previous forecast of 2.4%. Business investment in equipment and software will expand 12.1%, 1.3% points higher than the last projection.

Bloomberg News 3-11

Congressional Map Glows Red

In the once-every-decade process of reapportioning congressional seats, the Sun Belt gained 10 seats while the Midwest and Northeast lost a combined 10.

In recent decades, the U.S. population has shifted from the north and east to the south and west. As a result, the Sun Belt, including Florida, has gained influence in Congress.

The winners from the 2010 census are Texas (gaining four seats) and Florida (two), with one additional seat each for Arizona, Georgia, Nevada, South Carolina, Utah and Washington. The states losing seats are New York and Ohio (two each) and one each for Illinois, Iowa, Louisiana, Massachusetts, Michigan, Missouri, New Jersey and Pennsylvania. This is the first time the West has had more seats than the Midwest.

California retains the biggest state delegation at 53 seats, but it did not gain any for the first time since the 1930 census. Texas remains second biggest, with its delegation growing from 32 to 36. Florida’s two-seat gain and New York’s two-seat decline moves them into a tie for third at 27 seats each. The outflow of people after Hurricane Katrina not only cost Louisiana a seat, the only southern state to shrink this decade, but likely made possible one of the four seats Texas is gaining.

Governing 2-11

Lake & Geauga’s Fastest Growing Companies

E2b teknologies, Inc.

City: Chardon

Sales growth: 298%

Employees: 16-49

Enterprise resources planning

Signature Health, Inc.

City: Willoughby

Sales growth: 193%

Employees: 50-249

Mental health counseling

US Endoscopy

City: Mentor

Sales growth: 150%

Employees: 250-999

Device design and manufacturing

TRAX Construction Co.

City: Willoughby

Sales growth: 141%

Employees: 16-49

Home builder

Arrow Machine Company Ltd.

City: Mentor

Sales Growth: 110%

Employees: 50-249

Manufacturer of machine parts

Less Than 100% Sales Growth

Lake Management, Inc.

City: Mentor

Sales Growth: 77%

Employees: 16-49

Condominium management

AQUA DOC Lake & Pond Management

City: Chardon

Sales Growth: 68%

Employees: 16-49

Lake management

Angels in Waiting Home Care

City: Willoughby

Sales Growth: 62%

Employees: 16-49

Home care

Fairmount Minerals

City: Chardon

Sales growth: 54%

Employees: 250-999

Producer of industrial sand

“Upstarts”, 15 or Fewer Employees

Guardian Technologies LLC

City: Mentor

Sales growth: 6,376%

Employees: 1-15

Manufactures air purifiers

Venture Capital Returns to NE Ohio

Investment in emerging Northeast Ohio companies snapped back last year, reversing a sharp drop driven by the recession, economic uncertainty and concerns about the future of the nation’s health-care system.

Venture capitalists and angel investors put $221 million into bright ideas and new businesses in the 21-county region last year. The flow of money more than doubled from 2009, according to data from the Venture Capital Advisory Task Force.

Plain Dealer 1-21-11