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11/20/2015
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VOL. 36, NO. 47
NOVEMBER 23 - 29, 2015
35th Anniversary
EMPLOYMENT: Survey says Team NEO breaks down starting wages P. 4
Business of Life High-end watches Lum-Tec finds place with collectors, military
MEDIA: Expanding its reach ESPN Cleveland strikes big deal
P. 32-33
P. 5
Commentary
FINANCE: Moving right along
CLEVELAND BUSINESS
Riverside continues its rapid pace P. 6
Solid in plastics Rubber City, region have potential to thrive in polymer industry BY RACHEL ABBEY MCCAFFERTY rmccafferty@crain.com @ramccafferty
Paul Boulier, vice president of business attraction for Team NEO, is optimistic about the outlook of the polymer industry. That’s because, he said, there are positive global demand trends in the automotive, medical device, consumer products and electronics/electrical industries. That’s a good thing for Akron, as the city — and Northeast Ohio overall — is well positioned in the polymer industry, Boulier said. There are a lot of companies in the
region in the value-added space, helping to make plastics and other polymer products work better, he said, and the region has access to the shale gas and natural gas liquids that are the building blocks of plastics. “We’ve got a very strong capability here,” Boulier said. While some of the world’s tire giants still have strongholds in what was once known as the “Rubber Capital of the World,” this reputation has largely become part of the past. But Akron has built on that original area of expertise and retained strength in the polymer industry. “Akron, while no longer the tire capital of the world, has been the global center of research for the in-
Entire contents © 2015 by Crain Communications Inc.
dustry for more than 100 years,” Surendra Chawla, senior director of external science and technology programs for Goodyear Tire & Rubber Co., said in an emailed statement. “Goodyear and the University of Akron’s polymer center are the cornerstones of this industry knowledge, which now includes R&D operations for multiple international firms. “Goodyear both contributes to, and benefits from, this concentrated knowledge base,” Chawla said. Earlier this year, Team NEO took a look at the polymer and chemical-related companies in Ohio, Pennsylvania and West Virginia, concentrated SEE PLASTICS, PAGE 35
Browns soon could battle fan apathy P. 10
OM Group will leave E&Y Tower Firm’s headquarters, and 30 jobs, are moving from Cleveland to St. Louis BY STAN BULLARD sbullard@crain.com @CrainRltywriter
Scratch another name from the roster of Northeast Ohio-based corporations — and with it another 30 executive jobs — as the new owner of OM Group plans to move its corporate headquarters to St. Louis. Jim Voss, who became CEO of OM Group as the deal was consummated at the end of October, said the
Apollo Management Group’s affiliated funds that purchased three OM divisions has different headquarters needs than OM had for its 2-year-old corporate headquarters on the 13th floor of Ernst & Young Tower, downtown Cleveland’s newest office building. “When the decision was made to take out this lease, it was a different strategy and a bit pricey,” Voss said. “The building is awesome, but the office is bigger than anything we SEE OM GROUP, PAGE 8