Resolution 78-23RECORD OF RESOLUTIONS
GOVERNMENT FORMS. & SUPPLIES 844.224.3338 FORM NO 30045.
78-23
Resolution No Passed , 20
ADOPTING THE 2023 ECONOMIC DEVELOPMENT
STRATEGIC PLAN UPDATE
WHEREAS, Dublin City Council has established the development and
implementation of an economic development plan as one of its highest priorities;
and
WHEREAS, the City has commissioned the firm of TEConomy Partners LLC to
conduct quantitative and qualitative research and work to prepare a strategic plan
update; and
WHEREAS, the City has commissioned the firm of Newmark & Company Real
Estate, Inc., dba Newmark, to conduct a semiconductor supply chain positioning
study; and
WHEREAS, the elements of this strategy update were determined after research,
review and input from staff, community and business leaders, real estate brokers
and developers, and Dublin City Council; and
WHEREAS, the adoption of the strategic plan update is important to enhancing
the quality of life and economic vitality of the City.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Dublin, State
of Ohio, .__ of its elected members concurring, that:
Section 1. The Economic Development Strategic Plan as prepared by TEConomy
Partners LLC and Newmark & Company Real Estate, Inc., dba Newmark, be, and
hereby is, adopted.
Section 2. The City of Dublin hereby adopts the concepts and desired objectives
contained within the strategy document. The City will evaluate and consider the
strategy and action statements contained therein for possible modification of City
regulations, procedures, or implementation strategies.
Section 3. This Resolution is effective upon passage in accordance with Section
4.04(a) of the Dublin City Charter.
Passed this 230 day of Ohdohe , 2023.
YX
Mayor — Presiding Officer :
ATTEST: tne
To: Members of Dublin City Council
From: Megan D. O’Callaghan, City Manager
Date: October 17, 2023
Initiated By: Jeremiah Gracia, Economic Development Director
Jenna Goehring, Economic Development Administrator
Kirby Dearth, Economic Development Administrator
Mitch Ament, Management Analyst
Kendel L. Blake, Management Analyst
Re: Resolution 78–23 – Adopting the 2023 Economic Development Strategic Plan
Update
Summary
Dublin’s economic success continues to reinforce the conclusion that Dublin must act strategically
by investing in new initiatives that leverage historical advantages into a new generation of
economic development activity aligned with changing demographics and industry dynamics.
The Economic Development team initiated a review of the City’s 2019 Economic Development
Strategic Plan to verify what is working and should continue, and to identify how the City should
adjust its strategies and tactics to ensure it maintains the appropriate trajectory into the future. In
recognizing major shifts that have occurred as a result of the global pandemic, it is essential to
understand how the City’s economy has evolved and changed. These shifts have uncovered
potential factors that could impact our community including physical space needs for companies,
workforce dynamics, residential preferences, and the substantial growth of the Columbus region.
This update includes the reexamination of the City’s 2019 Economic Development Strategy in light
of these trends and provides strategic insights to address these factors.
The Economic Development team worked with TEConomy Partners LLC (“TEConomy”) to update
the 2019 Economic Development Strategic Plan. TEConomy is comprised of leading research and
policy analysts, economists and practitioners in economic development. TEConomy staff has
undertaken similar strategic planning and visioning projects for public and private agencies, for-
profit firms, and universities. Having worked in these three environments—industry, government,
and academia—its members understand each perspective and provide common ground for building
agreements, setting visions, and helping implement those visions.
In addition to the all-encompassing Economic Development Strategic Plan, the Economic
Development team worked with Newmark Global Strategy & Consulting (“Newmark”) to conduct a
specific Semiconductor Supply Chain Positioning Study. This report provides a playbook to help
Dublin attract businesses within the semiconductor supply chain, as well as inform the principles
and recommendations found in the comprehensive strategy provided by TEConomy.
Newmark is a full-service firm with both consulting and delivery capabilities at every stage of the
real estate lifecycle. Newmark’s team of management consultants in the Global Strategy and
Office of the City Manager
5555 Perimeter Drive • Dublin, OH 43017
Phone: 614.410.4400 Memo
Memo re. Resolution 78-23 Adopting the 2023 Economic Development Strategic Plan Update
October 17, 2023
Page 2 of 2
Consulting division help companies determine what facilities they need and where they are
needed, identify how those facilities’ operating conditions should be organized geographically,
functionally, and socially while optimizing costs to the business.
At the June 5, 2023 City Council Work Session, both the TEConomy and Newmark teams
presented the draft strategies by reviewing data sources, methodology, trends identified, and
recommendations. Based on City Council’s input and discussion, TEConomy incorporated the
feedback and findings from the Newmark Semiconductor Supply Chain Positioning Study into the
all-encompassing 2023 Economic Development Strategic Plan that is attached.
Recommendation
After over a year of research, data collection and discussing (1) where we are, (2) what we are
facing and (3) what tactics we need to focus on to achieve economic prosperity, the Economic
Development and consulting team presents the final report herein.
Staff recommends approval of Resolution 78-23 adopting the 2023 Economic Development
Strategic Plan.
Updating the City of Dublin’s
Strategic Plan to Ensure
Long-Term Economic Prosperity
Performed for:
City of Dublin
Economic Development Division
Performed by:
TEConomy Partners, LLC
June 2023
TEConomy Partners, LLC is a global leader in research, analysis, and strategy for
innovation-based economic development. Today, we’re helping nations, states, regions,
universities, and industries blueprint their future and translate knowledge into prosperity.
iii
Table of Contents
Setting the Context ....................................................................................................................................... 1
Headwinds Driving the Need for Dublin’s Updated Economic Development Strategy ................................ 3
Evaluating the Disruptive Trends in the Wake of the Pandemic .............................................................. 3
The Rise of Mixed-Use Urban Development in Nurturing Knowledge Industries ................................ 3
The Shifting Preferences Among the Modern High-Skilled Workforce ................................................ 6
The Changing Nature of Industry Clustering and Supply Chains .......................................................... 9
The Need for Ongoing Investment in Maintaining Strong Local Economies ...................................... 12
Implications for Dublin’s Economic Development Trajectory: A Renewed Call to Action ..................... 13
Updating Dublin’s Economic Development Strategy .................................................................................. 15
Strategy 1: Create Distinctive Mixed-Use Development Nodes ............................................................. 16
Strategy 2: Make More Predictable Development Processes ................................................................ 23
Strategy 3: Nurture the Growth of Targeted Industry Clusters .............................................................. 25
Strategy 4: Foster Sustainable Partnerships to Catalyze Value-Added Collaborations .......................... 37
Implementation ...................................................................................................................................... 41
Conclusion ................................................................................................................................................... 44
Appendix A: Setting Dublin’s Broad Economic/Economic Development Context ...................................... 46
Appendix B: Dublin’s Industry Cluster, Talent & Innovation Analysis ...................................................... 155
Appendix C: Dublin Semiconductor Supply Chain Positioning Study ....................................................... 178
1
Setting the Context
In today’s global, knowledge-based economy, a region’s economic performance is shaped by several
core factors that include:
• The structure of the region’s economy;
• The key economic drivers located within the region; and
• The competitiveness of the region’s core business climate.
The past and present performance as well as the projected future trajectory of a region’s economy are
shaped by economic generators and catalysts. Economic generators are the core industry and public
sectors that drive a region’s economy. Economic catalysts are the “agents of change” that affect the
performance of a region’s economy. These must be analyzed and assessed to understand the factors
that have and will shape the performance of a region.
The leadership of the City of Dublin has demonstrated a deep appreciation and understanding of these
economic principles. Seeking to develop a strategy to advance the community’s already vibrant
economy, the City of Dublin engaged Battelle’s Technology Partnership Practice (now TEConomy
Partners, LLC) in 2011 to develop a Cluster-based Economic Development Strategy and Action Plan. The
Plan evaluated the economy of Dublin, the presence of clusters of industry activity upon which future
growth could be focused and outlined a series of recommended strategies and actions to help Dublin
sustain its competitiveness into the future.
Based on the initial recommendations, the City of Dublin has worked to implement many of the
strategies outlined in the cluster study. In 2019, the city re-engaged with TEConomy to update the initial
strategic plan through a set of quantitative analyses and a situational analysis that leveraged interviews
and focus groups with local industry stakeholders. Key findings included:
• Dublin’s economic vitality is primarily driven by the presence of large anchor companies that
provide a strong industrial employment base.
• Dublin experienced steady employment growth during the latest economic expansion, which
has allowed it to keep pace with the Greater Columbus Region and has aligned it with the
region’s specialized strengths in specific industry clusters related to corporate headquarters,
information technology, finance and insurance, and business support services.
• Dublin’s highly educated population functions as one of its key assets helping build the city’s
reputation as a residential destination for the region’s skilled workforce.
• Dublin has maintained its position over time as a preferred residential destination with a high
quality of place due to high quality schools, significant investments in public infrastructure,
quality public services, and a high-value housing stock.
However, that report also noted that each of the attributes that have driven Dublin’s past success also
exposes the city to risks that can jeopardize the future growth trajectory in the face of new disruptive
socioeconomic headwinds.
2
Beginning in 2020, the City of Dublin again engaged TEConomy to provide yearly updates to the
comprehensive set of quantitative inputs that underly the key recommendations of the economic
development strategy. These updates are designed to ensure the City of Dublin’s leadership is able to
leverage the latest available data to examine ongoing trends and their implications for continued
implementation of the vision of the economic development strategy. The latest quantitative update,
conducted in Q4 2021 (see Appendix A), underscores the findings of previous reports, in particular the
need to reexamine the implications of the previously noted attributes that have driven Dublin’s
historical growth.
Recognizing the dramatic shifts that occurred as a result of the global pandemic as well as the future
shifts that will likely occur as a result of Intel’s $20 billion investment in the region, the City of Dublin
recognized the need for current, enhanced intelligence related to business dynamic factors impacting its
community. These shifts in combination with changing workforce dynamics have exposed potential risks
of disruptive change that include:
• An aging stock of commercial office space in conjunction with key anchor tenants re-evaluating
physical space needs in light of shifts in certain key industries towards hybrid and remote work
models due to the ongoing pandemic.
• Changing workforce dynamics and residential preferences in conjunction with a limited supply
of accessible housing stock that can continue to attract a highly skilled workforce.
• Rapid growth in the Greater Columbus Region’s economy and population that puts pressure on
established commuting patterns and employment destinations, particularly with respect to the
buildout of peer benchmark communities and corresponding increases in industry attraction
efforts that compete with Dublin’s profile as a destination community.
As a result, there is an opportunity to reexamine the city’s economic development strategy in light of
these recent trends. A critical evaluation of the strategy’s goals and ongoing implementation is
especially timely given new opportunities that continue to develop both in the city as well as throughout
the region, including the major medical care facility expansions from Ohio State, Mount Carmel, and
OhioHealth as well as Dublin’s ongoing proximity to the Transportation Research Center (TRC) and its
related connected and autonomous vehicle efforts along the Route 33 Corridor in addition to the
development of the Beta District. Exciting new developments such as the recent announcement of
Intel’s investment in the region in a $20 billion chip fabrication facility (and eventual expansion to
potentially up to a $100 billion buildout over the next decade) are also creating new economic
development opportunities that Dublin must be prepared to meet.
To this end, TEConomy undertook a comprehensive update driven by both qualitative and quantitative
inputs that provide the basis for refining the strategies outlined in the 2019 Strategy, thereby helping to
ensure the city is positioned for growth in coming years. The examination and update to the Strategic
Plan seeks to address the gaps and barriers that will need to be overcome in order to enhance the
region’s economic drivers and position the City of Dublin to capitalize on additional economic
opportunities.
3
Headwinds Driving the Need for
Dublin’s Updated Economic Development Strategy
Evaluating the Disruptive Trends and Economic Growth Opportunities Facing
Dublin in the Wake of the Pandemic
Since the strategic plan’s last major update in 2019, a number of transformational trends have impacted
economies at all levels – national, state, regional, and local. At the forefront of creating new economic
headwinds was the impact of the Covid-19 pandemic, which served both as a highly disruptive force on
business operations as well as a massive accelerator of ongoing trends in the digitalization of work. As
the nation’s economy continues to recover from the impacts of the pandemic, employers at regional
and local levels have found themselves confronting additional factors that challenge established trends
in economic growth including a historically competitive and supply-constrained labor market, rising
inflation, and changing needs from businesses for site locations due to new models of work.
Four key disruptive trends were identified in the previous strategic plan that created economic risk for
the City of Dublin, with the potential to impact economic development strategy, demographics, and the
nature of work. In the wake of the pandemic and subsequent economic impacts on local economies,
there is a need to re-evaluate these factors’ ongoing impact on economic development strategy and be
responsive to emerging trends that could impact Dublin’s growth. An updated perspective on each of
the disruptive trends and their evolution since 2019 are discussed below.
1. The Rise of Mixed-Use Urban Development in Nurturing Knowledge Industries: Building on
Successful Growth to Establish New Mixed-Use Nodes and Adaptive Reuse
The 2019 strategy identified the rising importance of mixed-use urban development as a key pillar of
modern local economic development (cited in signature work conducted by the Brookings Institute, the
Urban Land Institute, and the NAIOP Research Foundation). Although the pandemic had acute disruptive
impacts on the vibrancy and value proposition of mixed-use development due to closures of retail and
service industries, demand for these spaces has largely recovered over the past several years and they
remain a key component of place-based development policy. A recent Forbes article citing the ongoing
investment in large scale mixed-use development projects notes that:
Even when compared to trophy properties and new construction, office tenants at mixed-use
developments pay on average 24.7 percent more at a mixed-use property, according to JLL
research. This makes perfect sense as the experiential workplace explodes in popularity. But it
doesn’t stop at the office. Multifamily buildings can benefit from shorter lease-ups and rent
premiums due to the immediate availability of jam-packed amenities. Workers, residents,
travelers and the community are demanding an elevated setting for productivity, leisure and
culture, and mixed-use development is a solid retort.1
1 Billion-Dollar Mixed-Use Developments Demand Attention, Mark Zettl, Forbes, Feb 28, 2023.
4
The ongoing demand for mixed-use, high density development nodes, still often referred to as “live-
work-play” environments, has contributed to significant gains for local economies that have embraced
their role as anchor assets. A 2022 Q4 assessment of creative and mixed-use office stock by JLL noted
that they not only outperformed other real estate classes in off-core submarkets, but that “occupiers are
increasingly prioritizing experiential factors and location context, driving resilience in demand for
creative office assets and office within mixed-use projects, which have generated almost 9.0 million s.f.
of positive net absorption across asset classes since the second half of 2021.”2 At the same time,
evidence has continued to show that traditional place-based attraction efforts which primarily take the
form of business tax incentives are not as cost-effective as public services to businesses as well as
investment in creating vibrant labor stocks of skilled workers3, both of which are addressed through
expansion of “nodes” or “districts” of high-density mixed-use development.
As a result of ongoing financial success, appeal to regional workforces, and consistent demand from
businesses, the concept of “cities within cities” grounded by mixed-use anchors are continuing to drive
major growth opportunities that are attracting large scale projects from key employers.4 At the same
time, demand for traditional office space is expected to slow in 2023 amidst changing employer
preferences and economic uncertainty. NAIOP’s latest office space demand forecast from Q4 2022 notes
that:
The national office market absorbed 6.6 million square feet during the second and third quarters
of 2022, but the vacancy rate continued its climb to 17.1 percent, the highest level since the third
quarter of 1993. The completion of new office space outpaced absorption. A deeper look into the
numbers reveals an appetite specifically for high-quality office buildings, which may support
leasing activity in newly completed buildings despite continued weakness across the office
sector. This flight to quality is most likely driven by tenant preferences for flexibility and the
desire to attract and retain talent.
The mere threat of a recession has caused tenants to take a defensive posture and become more
cautious when renewing leases, with many instead choosing to move to a smaller, newer and
more flexible footprint. Moreover, the large supply of space available for sublease weakens
rental rates and contributes to lower net absorption. 5
The combination of high demand for vibrant mixed-use spaces and slowing demand for office space
has created a dynamic where certain types of development are critical to attracting and retaining
employers and workforce, especially given further trends in the changing preferences of workers noted
below. The Urban Land Institute and PwC’s 2023 Emerging Trends in Real Estate report summarizes the
impacts of these two trends:
2 Creative and mixed-use offices outperform as tenants target vibrancy, JLL Snapshot, Jacob Rowden, November 15,
2022.
3 Bartik, Timothy J. 2020. "Place-Based Policy: An Essay in Two Parts." Policy Paper No. 2020-021. Kalamazoo, MI:
W.E. Upjohn Institute for Employment Research. https://doi.org/10.17848/pol2020 -021
4 Tomorrow’s Communities Are Smart And Urban, Where Everything Acts As A Concept, Jennifer Castenson, Forbes,
Aug 9, 2021.
5 NAIOP Office Space Demand Forecast, Fourth Quarter 2022, NAIOP Research Foundation, November 2022.
5
“Companies should make the workplace a destination instead of an obligation,” said a
consultant at an architecture firm. This phenomenon is driving a bifurcation in performance
between class A offices and class B/C offices. Demand for new buildings with the latest
environmental standards and the newest amenities remains strong, while older buildings that
lack desired amenities are losing ground.6
For Dublin, the changing demand for real estate stock and attractiveness of mixed-use environments
present a major opportunity to build on the success of the city’s signature mixed-used development,
Bridge Park. The ongoing buildout of the development has continued to generate significant economic
activity, positive accolades, and emulation from other suburbs in the Greater Columbus region, with
nearly $600 million in investment to date.7 The success of Dublin’s investment in the project reflects the
larger demand trends noted above, and there is now a need for additional mixed-use development
projects throughout key nodes within the city to address potential risks from other areas of legacy office
stock.
Conversations with local industry stakeholders confirm Bridge Park is critical to Dublin’s attractiveness
as a site location for businesses, but continued emphasis on development can appear to present a risk at
a time when more companies are adopting hybrid and remote work models that reduce the need for
traditional office space. Although seemingly contradictory, mixed-use developments incorporating
amenities are now even more critical to site location decisions for companies seeking to establish
“destination” offices that support hybrid work models, since “live-work-play” environments increase the
value proposition of travel to offices for in-person work for employees. There is still a demand for in-
person space to serve as an anchor for company operations and support in-person meeting needs, but
with current demand focused on newer, smaller spaces in attractive mixed-use commercial districts.
Conversely, remote work trends will continue to devalue traditional office parks without these
amenities, since companies will be more reluctant to invest in real estate that may deter employees who
are considering remote work options.
An additional noteworthy trend for Dublin to keep in mind is the increasing ability to leverage legacy
office buildings towards new adaptive reuse, in particular within the life science, medical office, and
multi-family context. The NAIOP Research Foundation notes the increasing conversion of legacy office
stock to these building types in response to declines in office utilization during the pandemic and more
favorable market conditions for these other segments.8 For Dublin, this trend serves to address
emerging demand in healthcare and life sciences industries while also serving as a potential outlet for
addressing demand for housing stock.
6 Emerging Trends in Real Estate 2023, Urban Land Institute and PwC.
7 A neighborhood to envy — and replicate, Columbus Business First, John Bush, Mar 3, 2023.
8 New Uses for Office Buildings: Life Science, Medical and Multifamily Conversions, NAIOP Research Foundation,
Emil Malizia, March 2022.
6
2. The Shifting Preferences Among the Modern High-Skilled Workforce: Disruptive Impacts of
New Working Models and the Role of the Digital Workforce as a City Asset
The pandemic conditions, in combination with very tight labor market conditions for skilled talent, have
caused significant changes in workforce dynamics since the previous strategic update in 2019. A 2021
McKinsey report on the future of work notes three large scale trends that emerged as a result of the
pandemic and which are still in the process of reshaping the workforce9:
• Remote work and virtual meetings are likely to continue, albeit less intensely than at the
pandemic’s peak.
• COVID-19 may propel faster adoption of automation and AI, especially in work arenas with
high physical proximity.
• The mix of occupations may shift, with little job growth in low-wage occupations.
Many other studies affirm that the impact of these trends is anticipated to concentrate even more job
growth in high-skills jobs roles with hybrid working models, which has significant implications for
regional and local economic development strategy in both industry targeting as well as workforce
development.
In addition, the digitalization of industries and work processes across all industries that was already
taking place is expected to continue at a rapid pace. According to the World Economic Forum’s latest
report on the future of work, technology adoption is expected to be the primary factor driving
organizational change over the coming years. Their analyses identify technology and computing-related
skills as being the fastest expanding job roles across a variety of industry sectors and business types,
with disruptive impacts causing a structural labor market churn of 23 percent of jobs over the next 5
years and an estimated 6 in 10 workers requiring training before 2027 to incorporate new skills, with a
focus on digital and analytical reskilling.10
These significant changes highlight the importance of cultivating a “thick” labor market for local
economies—that is, a high concentration of skilled workers aligned with areas in high demand by the
market to build resilience to the ongoing impacts of broader disruptions. As noted in previous data
updates for Dublin, the city’s industry base remains concentrated in information technology and
business services sectors that are likely to be at the heart of disruptive trends, while at the same time
the city’s high quality of place makes it an attractive residential destination for workers in these
industries (particularly those with hybrid or remote work models). Ongoing data about remote and
hybrid work trends suggests that shifts in behavior during the pandemic are likely to have permanent
effects, with one Gallup study suggesting that 55 percent of workers expect hybrid work arrangements
to persist into the future (see Figure 1).
9 What is the future of work? McKinsey & Company, Jan 2023.
10 The Future of Jobs Report 2023, World Economic Forum, April 2023.
7
Figure 1. Gallup Study Results on Remote Work Trends in 2022
Source: Returning to the Office: The Current, Preferred and Future State of Remote Work, Gallup, August 2022
The confluence of digitization, new working models, and worker preference trends means that Dublin
needs to both attract the locations which anchor a business’ hybrid operations while at the same time
cultivating the thick labor market through growing its residential worker population, which is highly
desirable for businesses to locate in proximity to. Regional development economists who study
Midwestern cities note that this often takes the form of a “chicken and egg problem”: “If you don’t have
many high-tech firms or high-tech workers, you can’t attract high-tech workers because you have no
high-tech firms, and you can’t attract high-tech firms because there are no high-tech workers.”11
This dynamic re-emphasizes the role of “tech” talent—the broad set of occupations encompassing
both traditional IT jobs as well as data and analytics and advanced computing and electronics
expertise—as a key differentiator for local economies to address both sides of this balance by
attracting businesses as well as further growth of the skilled worker population acr oss the industry
mix. The anticipated demand for tech workers is expected to span all industries as tech-enabled
applications and services are further adopted, including in industry sectors such as services, healthcare,
education, amenities, and infrastructure that are traditionally more “low tech.” As a result, regional and
local talent attraction strategies will need to refocus around attracting and retaining tech and other high
digital skills talent bases even in the face of declining office location employment and legacy IT services
industry clusters.
11 The Fresh Economic Development Strategy Emerging in the Midwest , Route Fifty, Sharon O'Malley, December
2022.
8
A 2022 BCG study on the world’s leading tech hubs notes that there are a variety of short and long-term
“levers” that regions can employ to attract both the supply and demand for digital talent in the face of
this dynamic, including:
• Short term actions such marketing and brand enhancements aimed at tech talent and
financial incentives for individuals to attract and retain tech-skilled residents
• Medium term actions such as corporate tax and R&D incentives, attraction of anchor
companies employing high levels of tech talent, and government support for workforce
development and entrepreneurial ecosystems
• Longer term actions such as regulatory support for companies in key industry sectors,
continued investment in lifestyle amenities, formation of industry ecosystem support
organizations, and attraction of higher education and R&D institute site locations that can
serve as anchors for talent
Regional and local policymakers are taking action using variations of these policies to aggressively recruit
these workforces in hopes of competing for company site location decisions, while state and federal
lawmakers are considering additional investment in tech workforce development in the wake of
significant new funding for regional technology and innovation hubs.12 The economic multiplier effect
of these high wage jobs and their ability to create clusters of industry activity have led many
developers to consider a robust tech workforce part of the “new critical city infrastructure.”13 The
reach of tech as a critical enabler of local economic growth also extends far beyond large software and
services company locations: “Ninety-three percent of today’s small business owners report using at least
one type of technology platform to help run their business, with the average owner utilizing three
different platforms. Of those, 85 percent report that technology platforms helped to get their business up
and running, and 94 percent report that technology helps them run their business more efficiently.”14
For Dublin, there is a key need to attract a base of tech workers to help ensure the city’s future ability to
both attract modern business operations as well as provide future ready workers for existing industry
anchors. Results from a survey of Dublin’s industry leaders (See Appendix B) confirm that trends in
working models have shifted since the pandemic in favor of hybrid work models (Figure 2), reflecting
new preferences that the city must incorporate into attraction and retention efforts, particularly for
tech talent who often have increased access to remote work options.
12 Regional Technology and Innovation Hubs (Tech Hubs) Program, US Economic Development Administration,
accessed at: https://www.eda.gov/funding/programs/regional-technology-and-innovation-hubs.
13 New Critical City Infrastructure: A Tech Workforce, Forbes Real Estate, Jennfier Castenson, April 2022.
14 New Study Shows Technology Platforms Critical to Small Business Growth , US Chamber of Commerce, August 2,
2022.
9
Figure 2. Remote Work Preferences of Workers at Dublin Companies, Pre- and Post-pandemic Time Periods
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Although Dublin has retained a significant footprint of IT and computing sector companies, the city must
continue to take efforts to attract both established and emerging companies focused on tech-enabled
products and services across a variety of industry sectors and seek to leverage its highly educated
population as a key asset. Similarly, these headwinds indicate the need to attract and root a new
generation of tech talent in the city to seed future growth in the face of new developments in the
regional economy and the ongoing importance of access to skilled labor in company site location
decisions despite the prevalence of remote work. One challenge the city will need to address is the
lower availability of residential housing stock accessible to and aligned with entry and mid-career tech
talent to anchor the future talent supply, with a recent housing study completed by Urban Partners
noting that the combination of aging population and lower vacancy rates has created a difficult dynamic
for new homebuyers.
The combination of shifting workforce dynamics, the need for tech talent to bridge the transition to
digital operations across industries, and new working models accelerated by the pandemic presents one
of the largest potential impacts to Dublin’s future growth trajectory, particularly in the face of other
peer communities positioning themselves to respond to these trends. The city will need to take bold
action to align itself with the next phase of growth for the Central Ohio region.
3. The Changing Nature of Industry Clustering and Supply Chains: Evolution of the Central Ohio
Industry Base
The previous Dublin strategy identified several major factors influencing the nature of how industries
cluster and integrate with their supply chains, including the importance of collaborative industry and
innovation ecosystems, access to entrepreneurial ecosystems and investment capital, and proximity to
talent pipelines that supply skilled workers. These headwinds are still highly relevant today, with many
of these factors now taking on an even greater importance due to the space demand and workforce
dynamics noted above.
Industry cluster-based development initiatives have been re-elevated in the public policy sphere in
recent years due to significant federal spending aimed at influencing growth of targeted industries .
Headlined by $1 billion in grant funding through the EDA’s Build Back Better Regional Challenge
10
(BBBRC)15 and the nearly $53 billion bipartisan CHIPS and Science Act of 2022,16 ambitious federal
investments aimed at bolstering regional and local industrial and technology capacities have placed
cluster-based growth strategies at the forefront of economic development at the regional and local
level. The Brookings Institute reflects on these massive investments in industry clusters in its 2022
update on the future place-based economic development policy17:
Over the long run, regional economies grow and decline based on their ability to specialize in
high-value industries and evolve those specializations over time. Industry clusters—groups of
firms that gain a competitive advantage through proximity and interdependence in areas such as
talent and innovation—can be a compelling strategic concept, especially for communities that
have struggled through economic decline.
A clear body of evidence showing that firms and regions benefit from clustering has led to
widespread adoption of cluster-oriented activities within the economic development field. Yet
these cluster-based economic development initiatives must contend with many forces outside of
local control. Macroeconomic and technological forces have caused industries and technologies
to emerge, grow, and then decline, only to be replaced by new, emergent technologies.
Perhaps more importantly for regional and local stakeholders like those in Dublin, they also note:
How regional leaders can best accelerate and capture the benefits of clustering is not always
straightforward, but several factors likely matter. The ability of regions to support the creation of
young, high-growth firms seems to be particularly important, as these are the vehicles for
innovation and the quality job creation that results. Institutions and infrastructure matter as
well; a region’s schools, universities, and research centers influence the quality of workers and
the amount of local innovation, while a region’s physical and digital infrastructure shapes how
workers connect with businesses and how businesses connect with each other. And the
networking, information exchange, and collective action enabled by civic institutions—such as
chambers of commerce, business leadership organizations, and industry associations—can shape
a region’s resilience to shocks by galvanizing and activating leadership networks to address
shared challenges.
The affirmation of cluster-based economic development at all levels of public policy highlights the
ongoing importance of creating a region’s industrial identity through this lens, with Dublin at the
epicenter of several major cluster-based development headwinds.
The Greater Columbus region is poised for major growth after the decision by Intel in 2022 to locate two
chip fabrication facilities in New Albany, totaling approximately $20 billion in investment with direct
employment of 3,000 jobs at the facilities and an additional 7,000 construction jobs over the course of
15 $1B Build Back Better Regional Challenge, US EDA, accessed at:
https://www.eda.gov/funding/programs/american-rescue-plan/build-back-better
16 FACT SHEET: CHIPS and Science Act Will Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China ,
US White House, accessed at: https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-
sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/
17 The future of place-based economic policy: Early insights from the Build Back Better Regional Challenge ,
Brookings Institute report, November 2022.
11
the facility buildout. These facilities are also “expected to attract dozens of ecosystem partners and
suppliers needed to provide local support for Intel’s operations – from semiconductor equipment and
materials suppliers to a range of service providers” which will occupy an adjacent 500-acre technology
park.18 The new factories are expected to support Intel’s next-generation chipsets and a focus on
innovative process technologies. Various educational and workforce development stakeholders are
already taking action to address the need for new workers and anticipating the buildout of a large new
manufacturing industry cluster19 which has the potential to alter the region’s growth trajectory for
decades. Dublin must be prepared to play a role in this industry’s explosive growth potential, and has
taken steps by engaging Newmark Consulting to undertake a semiconductor supply chain positioning
study (Appendix C).
In addition, an existing regional industry cluster initiative has been underway and will continue to have
high relevance to technology-based economic development. The Northwest 33 Council of Governments,
which includes Dublin, Marysville, Union County and the Marysville-Union County Port Authority,
created the Beta District high-tech region that follows the US-33 corridor. Focused on transportation
technologies and smart mobility infrastructure, the “living laboratory” allows for demonstration, testing,
and industry support for transportation manufacturers, logistics, and public infrastructure sectors.
Leveraging this asset and its proximity to major manufacturing operations in Marysville will be critical to
expanding into new future-facing markets for Dublin.
A newly emerging cluster for Dublin also highlights the headwinds driving the city’s cluster-based
development potential. Spurred by rapid expansion of its hospital and medical sector relative to the
previous strategy update, the city now has the potential to build on a newly forming cluster in allied
health. With the $161 million Wexner Medical Center Outpatient Care facility opened in 2022, the $20
million expansion of OhioHealth Dublin Methodist, and construction of Mount Carmel’s new $250
million hospital, the city has seen significant expansion activity that is likely to continue as the region
consolidates its healthcare systems and expands into rural and remote medicine. The clinical anchors in
the region can also serve to attract biomedical research and technology services companies, as well as
healthcare management companies which are increasingly driven by tech applications.
These examples highlight the evolving nature of industry clusters in the region and the need for a
responsive strategy from local policymakers to identify target industries and the demand drivers that
influence their location decisions. As the region continues to expand into additional tech-enabled
products and services, Dublin will need to position itself around a distinct economic identity in order to
compete with peer communities for opportunities.
18 Intel Announces Next US Site with Landmark Investment in Ohio, Intel Press Release, Jan 2022, accessed at:
https://www.intel.com/content/www/us/en/newsroom/news/intel-announces-next-us-site-landmark-investment-
ohio.html#gs.xrby2b
19 With high-tech manufacturing plants promising good jobs in Ohio, workforce developers race to get ready ,
Brookings Institute Report, January 2023.
12
4. The Need for Ongoing Investment in Maintaining Strong Local Economies: Role of Amenities
and Infrastructure in Driving Business Dynamism
Despite ongoing economic and demographic change, the case for ongoing investment in local quality of
life remains strong. Amidst declining population growth, remote work trends, and hollowing out of
traditional industry bases, many Midwestern cities are turning to incentives designed to attract people
based on quality of life attributes such as school systems, access to public services, and opportunities for
recreation.20 With competition from peer communities continuing to accelerate, particularly in light of
some of the aforementioned economic and workforce trends, cities will increasingly need to sell their
lifestyle “brand” through investment in amenities and infrastructure.
This shift in policy has taken root gradually over the past decade, where “the emerging focus on
attracting people who can provide the foundation for a solid workforce in the region stands in contrast to
other approaches to economic development, which can often prioritize policies like tax breaks for
companies to build factories or warehouses.”21 However, the pandemic and the subsequent recovery
have highlighted stark divisions between communities with the quality of life “capital” to remain
resilient and attract new investment versus those who increasingly cannot attract new industry bases. In
a 2022 policy paper, the Brookings Institute highlights this distinction:
While incentives-driven business attraction remains one part of local economic development,
numerous studies have found that it has not solved many of today’s local economic challenges.
Rather, an increasing number of local leaders are going beyond measures of job growth to
instead prioritize job quality, productivity, income growth, or other qualify-of-life measures,
especially in smaller communities where job creation is not a realistic objective.
To achieve these broader aims, leaders are moving away from singularly focused transactions
and toward more holistic, integrated approaches. This includes investments in strategic
initiatives such as helping existing firms and industries grow, innovate, and develop diverse
talent; creating an inclusive, homegrown entrepreneurship ecosystem; rebuilding Main Streets,
downtowns, or other neighborhood corridors as flywheels for broader market-based growth and
wealth creation; and centering talent and housing affordability in economic competitiveness and
inclusion. Finally, both regional and community actors are investing in good governance by
bringing local leaders and institutions together to solve problems and create the conditions in
which workers, families, businesses, and other key partners are willing and able to stay and
invest in the community.22
As highlighted in the key metrics assessing quality of place in the updated strategic assessment (See
Appendix A), Dublin has continued its longstanding investment in maintaining its high quality of place,
and as a result is better positioned than many communities to undertake more ambitious economic
development activities. The city’s school systems and residential neighborhoods remain in high
demand, while the preservation of recreational and green spaces and increasing buildout of walkable
20 The Fresh Economic Development Strategy Emerging in the Midwest, Route Fifty, Sharon O'Malley, December 28,
2022.
21 Ibid.
22 Making local economies prosperous and resilient: The case for a modern Economic Development Administration ,
Brookings Institute, June 2022.
13
infrastructure into new development remain priorities for high skills workers. The city has also
continued to place a high priority on public safety and maintaining its legacy infrastructure.
However, if it wants to maintain its desirable position Dublin will need to approach ongoing
community reinvestment in a tactical manner that accounts for the ways in which its business and
amenities districts have aged over time as well as the changing population dynamics driving broader
socioeconomic shifts. As the city seeks to expand to support buildout on its perimeter, there is a
significant risk of the city “hollowing out” around its legacy office parks and business assets if
revitalization efforts are not also targeted there to redevelop aging office stock. Investment in new types
of amenities such as residential fiber connectivity and improved public transit to supplement existing
quality of life advantages may also become key differentiators against peer communities. As it begins to
face pressure from other suburbs in the region due to high levels of population expansion and
development across the region, the city will need to continually assess its regulatory climate and adopt
best practices that attract businesses and new population.
Another key risk to the city’s ongoing relevance as the Greater Columbus region expands is its housing
stock composition and shortages in both supply and vacancy turnover. The city will need to find ways to
expand housing access for skilled talent seeking to locate in the region if it wants to attract attention
from businesses in STEM and tech-intensive industries. Also, significant declines in Dublin’s service
industry workforce during pandemic have not yet been recouped by growth during the recovery, with
evidence that changing trends in commuting and proximity to place of employment may act as barriers
to them returning in the absence of affordable housing options and access to the city’s amenities. The
lack of available resident workforce could serve as barrier to expansion of new industries such as
healthcare services and the growth of service amenities industries to support new development.
While Dublin remains one of the leading communities in the Greater Columbus region, future growth in
the face of disruptive headwinds is not assured and the city will need to remain focused on creating a
high quality of place while also exploring new ways to expand access to the city’s lifestyle.
Implications for Dublin’s Economic Development Trajectory:
A Renewed Call to Action
As noted in the headwinds outlined above, Dublin faces a rapidly changing industry environment, new
types of demand for space, a changing workforce, and a confluence of other factors that has been
rapidly accelerated by the pandemic and its aftermath. Several key thematic implications for the city’s
economic development emerge:
• Transformative economic development changes are occurring in the Great Columbus Region
that are likely to impact the trajectory of its communities for decades to come, and Dublin
should be prepared to capture its share of this opportunity to secure its economic future.
The city should leverage its role as a geographic midpoint between new semiconductor
facilities, established transportation manufacturing operations, and downtown financial and
business services industries to establish a bold new identity as a hub for high end electronics
systems R&D, integration, testing, and value-added technology services. Industry attraction
can seek to target infrastructure and transportation systems integration and tech
14
applications to complement existing strengths, but also expand into healthcare technologies
and services leveraging the growth in new healthcare facilities.
o The city has already begun to evaluate the feasibility of attracting semiconductor
supplier companies, and should expand this work to consider additional support
segments such as electronics design, testing, and integration firms
• Trends in remote and hybrid work are likely to persist and will have real impacts on Dublin’s
ability to attract traditional large-scale office park developments. The city must recognize
that its resident workforce is a civic and economic development asset and focus its efforts
on attracting this workforce by focusing on key amenities.
• The success of the Bridge Park development and its critical role as a business attraction
asset are indicative of continuing demand for signature mixed-use developments that can
serve as industry ecosystem anchors. The city should explore the redevelopment of legacy
real estate stock into additional mixed-use nodes to support further centers of activity
designed to attract businesses and talent in order to avoid a “hollowing out” of its business
park base and build a more resilient portfolio of companies.
• The city has continued to maintain its desirability through sustained investment in quality of
place amenities and infrastructure. Dublin will need to maintain this commitment, but also
navigate the need for expanding access to its economy and infrastructure in order to enable
expansion of its economy and remain attractive to businesses. The city should continue to
explore development of new higher density housing stock integrated into mixed-use
developments.
15
Updating Dublin’s Economic Development Strategy
Dublin’s economic development mandate has not changed since 2019; however, the urgency upon
which it must be implemented has accelerated. The key facets of Dublin’s economic development
ecosystem that will help ensure future economic vitality can still be graphically depicted as a wholistic
and integrated set of key principles (see Figure 3).
Figure 3. Key Facets of Dublin’s Economic Development Strategy
Source: TEConomy Partners, LLC.
Driven by an acceleration of the economic headwinds outlined in the previous section, the City of Dublin
must focus its economic development efforts on the following strategies:
16
• Create distinctive mixed-use development nodes to meet 21st Century industrial demand for
vibrant physical space while maintaining Dublin’s high quality of place standards. This in turn
will create the modern, live/work/play flexible spaces that will attract and retain not only a
vibrant industrial base, but also the talent pool industry requires.
• Make Dublin’s development processes more transparent and predictable thereby reducing
uncertainty. This in turn will create a business-friendly environment that is highly responsive to
changing industrial needs.
• Nurture growth of targeted industry clusters through proactive attraction and business
retention/expansion activities. This will help ensure that Dublin’s economy is positioned for
future economic growth by making sure that cutting-edge industries and the talent they
require find Dublin to be an attractive, business-friendly environment upon which to anchor
their success.
• Foster sustainable partnerships to catalyze value-added collaborations. The entire economic
development strategy is predicated on the city’s ability to foster value-added collaborations
among industry, academia, and the government and non-profit sectors.
It is also important to point out that no economic development strategy can be successful unless the
underpinning foundational assets of a community, its high-quality infrastructure and quality of place
assets, are not only maintained but further enhanced. While it is not the intent of this study to address
infrastructure and quality of place assets, such as roadways, services, and school systems, the ability of
Dublin to maintain its high standards in these areas is paramount to the success of any economic
development effort.
Based on the quantitative and qualitative findings derived from the analysis, the following updated
strategic plan has been designed to meet the needs of industry, capitalize on Dublin’s comparative
assets, and help position the city for continued economic growth. The tactics to pursue under each
action were identified in close consultation with the City’s Economic Development team to ensure the
greatest relevancy to Dublin’s specific situation.
Strategy 1: Create Distinctive Mixed-Use Development Nodes to Meet 21st
Century Industrial Demand for Vibrant Physical Space while Maintaining Dublin’s
High Quality of Place Standards
Rationale
The headwinds outlined in this update as well as the economic development strategy from 2019 both
confirm the importance of modern, place-based development as a key economic development strategy
tool that addresses both business and talent attraction needs. Demographics, workplace trends, and
return on investment are all continuing to align in favor of modern development nodes anchored by
mixed-use districts.
17
Several ongoing trends, as outlined by major central Ohio developer the Robert Weiler Company in
202123, are continuing to make a strong case for mixed-use development:
• Continuing urbanization of suburbs, driven by population expansion and rent premiums for
proximity to town centers and amenities across both younger and older generations
• Ongoing changes to lifestyles in the working-age population, with an emphasis on proximity to
work and minimal commuting times
• Increasing demand for rental units, reflected by housing supply constraints and changing
attitudes towards home ownership versus lifestyle preferences
• Emergence of co-working spaces, which help address the demand for destination offices amidst
declining full-time office footprints
• Tax revenue potential, where mixed-use development outperforms single use properties due to
cost efficiencies and lower land usage
• Focus on sustainability from CRE investors to help de-risk portfolios going forward
The most recent National Association of Realtors survey confirms many of these preferences, in
particular the alignment between older and younger generations on development that minimizes
commute times and maximizes walkability.24 A recent 2023 McKinsey study also notes that the financial
and real estate climate and market incentives may further accelerate the demand for new types of
mixed-use development:
It goes without saying that the COVID-19 pandemic upended where and how the world uses
spaces. In some regions, office attendance is still dramatically lower than it was before the
pandemic; in the United States, for example, it hovers at around 50 percent. Consumers have
returned to brick-and-mortar stores but are shopping closer to home. Greater expectations for
same- or next-day shipping have increased demand for industrial square footage near the places
where people live and work.
Perhaps even more transformative than altered demand is the fact that occupiers have a new set
of needs, beyond what real estate companies have traditionally provided. Hybrid work and
omnichannel sales require that landlords supply creative physical designs, as well as innovative
services and solutions. Tenants, lenders, and other stakeholders increasingly look for buildings
that play a role in fighting climate change. Digital sophistication has become essential to help
real estate players act more quickly and make wiser decisions, to enable emissions reporting,
and to track and analyze how space is used.
Complicating the panorama is the fact that after a decade-long growth market, capitalization
(cap) rates have expanded across sectors. Interest rate hikes, combined with higher inflation in
many parts of the world, have dramatically altered the financing costs and expected returns for
owners, developers, and managers.
Inflation and uncertainty about the direction of the global economy have made housing
significantly less affordable, made gaining access to credit even more difficult in emerging
23 6 Mixed-Use Development Trends, The Robert Weiler Company, 2021, accessed at:
https://www.rweiler.com/blog/mixed-use-development-trends/
24 NAR 2020 Community and Transportation Preference Survey, National Association of Realtors, 2020.
18
markets, and created a challenging fundraising, deal-making, and return-generating
environment for real estate investors and operators. Those who invest in and operate real estate
as they did five years ago may underperform and lose share.25
The dynamics at play have created the need for new types of development activity. Evidence from
demand for space at Bridge Park and the importance of the signature mixed-use asset as a key employer
destination reaffirms that further expansion of this development can help to improve the city’s
competitive position. Moreover, some of the largest development investments taking place across the
nation to meet the needs of major tech and services companies are leveraging flagship mixed-use
projects as the centerpiece of economic development activities.
Companies will create additional layers of demand for modern spaces as they evolve to changing
conditions. The case of cloud services company DropBox can serve as an illustrative example of shifting
employer attitudes towards real estate in the wake of the pandemic:
Dropbox tailored its real-estate solution to these goals. Instead of abandoning all of its office
space, it converted some of its former offices into Dropbox Studios used for collaborative work,
team events, and training. It optimized the existing spaces for collaboration by removing most
desks and creating conference rooms with flexible wall systems and movable furniture so that
spaces can increase or shrink depending on need. In some cases, Dropbox cut the amount of
square footage it leases. In Dublin, it moved to a new location built from the ground up for
collaborative experiences. The new space includes a café, where employees can connect and
recharge over free espressos and cappuccinos, and immersive technology for videoconferencing,
intended to level the playing field between on-site and remote participants.26
Dublin has many similar cloud and technology services companies which are likely to respond to
changing real estate needs in ways that require access to redeveloped spaces located in key
development nodes. Cardinal Health, one of the city’s largest tenants, has adopted a similar remote and
hybrid-first approach to its workforce and real estate needs:
Because of the adoption of hybrid work, Cardinal is redesigning and renovating its Dublin
headquarters on Emerald Parkway to have fewer individual cubicles and more common and
collaborative space, he said. In the Fall, the company exited a 400,000-square-foot second Dublin
building on Rings Road because the HQ is big enough to accommodate those who still report to
the office.27
While the pivot many companies are making requires lower overall space footprints, at the same time it
provides more significant destination office anchors and allows regions to attract new resident workers.
However, this does mean that ongoing development, redevelopment, and adaptive reuse of existing real
estate stock to create meaningful mixed-use nodes will become an imperative to attract and retain
companies in tech and business-intensive industries.
25 Six new imperatives for real estate players, McKinsey article, March 7, 2023.
26 Workplace real estate in the COVID-19 era: From cost center to competitive advantage, McKinsey article, May
24, 2022.
27 Cardinal Health CEO says the company can avoid layoff trend, Columbus Business First, Feb. 2023.
19
Dublin can now take the next steps in building out a modern environment through actions to expand
and connect new mixed-use district nodes, an approach which many city centers outside of urban cores
are taking to help create interconnected series of placemaking assets across a broader city landscape.
New models of industry-centric placemaking are combining distinctive development nodes to create
ecosystems centered around targeted industries as opposed to discrete development projects, an
approach Dublin can utilize to build around its existing strengths and allocate resources in a cost-
effective way towards high impact placemaking.
Actions to Pursue
To create distinctive development nodes to meet 21st Century industry demand for vibrant physical
space, Dublin should focus on the following four actions:
• Continue to build on the momentum of Bridge Park/Bridge Street District by supporting the
development of additional live/work/play physical spaces;
• Move the West Innovation District forward by setting the conditions for development
attractive to the targeted industry clusters;
• Focus efforts to redevelop the Dublin Corporate Area/legacy office parks and provide
additional points of connection to alternative living/retail space; and
• Connect development nodes through deployment of transportation and mobility technologies
and serve as suburban test bed.
Action 1: Continue to build on the Momentum of Bridge Park/Bridge Street District by supporting
the development of additional live/work/play physical spaces.
Recognizing the headwinds previously identified, the City of Dublin has been on the cutting-edge of
modern development in recognizing that people want choices, urbanism, and walkable communities.
The Bridge Street District, anchored by Bridge Park, is Dublin’s response to these trends. The 1,100 acres
provide alternative development choices for Dublin’s residents and corporate citizens as well as expands
and enhances the unique attributes of destinations such as Historic Dublin.
It is critical that the City of Dublin continue to build on the momentum of Bridge Park by fully developing
the Bridge Street District. Tactics to pursue in the continued build-out include the following
opportunities:
• Pursue two additional Class A office buildings by obtaining commitments from developers and
approval by City Council by 2024 with construction occurring by 2025.
• Immediately adjacent to the Bridge Street District, market the city-owned land along Emerald
Parkway (near Riverside Drive) and develop a new office project.
• Plan and program the Snouffer Road intersection improvement.
• Redevelop 5/3 Bank office site at Sawmill Road and West Dublin-Granville Road.
• Focus attraction efforts on high-growth companies being incubated elsewhere in the region
that are seeking urban-like environments with ability to scale (related to Strategy 3, Action 3).
20
• Ensure the Bridge Street District development node retains its “cool” factor by incorporating
recreational amenities, adhering to landscape architecture standards, and collaborating with
the Dublin Arts Council to incorporate public displays of art throughout the District.
• Undertake the SR-161 Corridor study to understand how to continue to build upon/leverage
the development/momentum of Bridge Park.
• Target unique amenities to the region, including signature hotel and conference center.
• Redevelop the Dublin Village site to allow for additional mixed-use development.
Action 2: Move the West Innovation District Forward by Setting the Conditions for Development
Attractive to the Targeted Industry Clusters
In partnership with academic and institutional partners, the City of Dublin has concentrated significant
investment in the West Innovation District over the past decade. As part of this effort, important
projects have been addressed to establish infrastructure for future development that is particularly
attractive to both the targeted mobility and healthcare industry clusters.
It is critical that the City of Dublin move the West Innovation District forward by setting the conditions
for development attractive to the targeted industry clusters. Tactics needed to leverage the
opportunities that are present within the West Innovation District include the following:
• Execute the build-out of the balance of city-owned property associated with the OSU-Medical
Center investment.
• Leverage city-owned and OU-owned land to build-out OU Dublin Campus.
• Pursue research investments/partnerships with both OU and OSU around key industry clusters
(related to Strategy 3, Action 2).
• Complete construction of the US 33/Post Road Interchange.
• Pursue the relocation of Eiterman Road.
• Purchase strategic tracts of land for future economic development deals through further land
acquisition, including focusing on access to rail as an economic asset. This should include:
o Undertaking a West Dublin Passenger Rail Station Area Planning Study and Vision Plan.
o Incorporating land acquired on western border into planning strategies.
• Build on success of Crosby Court flex space.
• Develop an annexation and infrastructure service strategy for lands west of the city as part of
the current Community Plan update.
• Conduct water/sanitary sewer capacity studies in West Innovation District.
Action 3: Focus Efforts to Redevelop the Dublin Corporate Area/Legacy Office Parks and Provide
Additional Points of Connection to Alternative Living/Retail Space
As Central Ohio’s first office park community, Dublin has an older building inventory. The core of
Dublin’s commercial building stock dates to the 1980s and 90s. Other more recently developed
21
communities in the region are able to offer more modern buildings at competitive pricing. Consideration
must be given to how this older inventory can be redeveloped to fit 21st century demands.
The Dublin Corporate Area Plan (DCAP) was adopted as part of the Dublin Community Plan in September
2018 and provides guidance for future development and redevelopment. The DCAP area is
approximately 1,000 acres and includes all legacy office parks within the Metro Office, Blazer Research,
and Emerald Corporate business districts and the Frantz Road corridor.
The intent of DCAP is to encourage and facilitate new investment and redevelopment of commercial
properties in the planning area, as these business districts have and will continue to serve as a key
corporate base for the City of Dublin. To ensure that these areas remain vibrant as these “legacy” office
parks mature, DCAP included the following key principles:
• Encourage a variety of land uses, focusing on needed amenities to serve workers, nearby hotel
visitors, and residents.
• Apply placemaking principles to encourage vitality within the district.
• Use formal and informal open spaces as organizational and focal elements for new
development and redevelopment.
• Support integrated infill residential development at key locations in support of office
development.
• Mitigate negative impacts of new development on adjacent neighborhoods.
• Position the planning area as a well-connected district (both walkable and bikeable) with
service and recreational amenities (open spaces) to facilitate opportunities for community
interaction.
It is critical that the City of Dublin focus efforts to redevelop the Dublin Corporate Area/Legacy Office
Parks and provide additional points of connection to alternative living/retail space. Tactics to pursue in
the redevelopment efforts include the following opportunities:
• Implement the Dublin Corporate Area Plan (DCAP):
o Implement best practices around mixed-use, higher-density development that
combine structured parking, variety of housing types, retail, dining and walk-to-work
office space.
o Partner with the property owners for the redevelopment of the Metro Center frontage
consistent with the Dublin Corporate Area Plan along Frantz Road as a catalyst for
redevelopment of Metro Center.
• Continue innovation and technology cluster attraction efforts with emphasis on talent pipeline
and access to Dublink.
• Consider the use of a Community Reinvestment Area (CRA)/abatement area to redevelop
legacy office parks.
• Work with the property owner on the potential repositioning (i.e., rezone, mixed-use, utility
issues) of the land on the far south end of the former Ashland campus.
22
Action 4: Connect Development Nodes through Deployment of Transportation and Mobility
Technologies and Serve as a Suburban Test Bed
The City of Dublin has made significant strides to improve mobility options for residents, visitors, and
the workforce. The purpose of these efforts is to provide access to a range of transportation options to
connect more people to more places. It is critical that the City of Dublin build on these efforts by
connecting the envisioned development nodes through deployment of transportation technologies
while serving as a suburban pilot/test bed for these mobility technologies. Tactics to pursue in the
deployment of transportation and mobility technologies include the following opportunities:
• Pursue transportation and mobility connectivity to integrate DCAP with surrounding areas.
• Leverage proximity to 33 Smart Corridor and Beta District and Smart Columbus to build out
autonomous/connected “Smart” infrastructure as a beta/testing platform for R&D.
o Attract firms/technologies to beta test on the City of Dublin’s and 33 Corridor’s “smart
infrastructure”.
o Determine next generation of Beta District and 33 Smart Corridor technology and
initiatives.
• Explore the creation of a regular circulator shuttle during normal business hours that travels
from the West Innovation District through the Dublin Corporate Area to the Bridge Street
District (similar to CBUS/Mobility Plan in progress).
• Continue to ensure biking/pedestrian walkability of future developments, particularly within
and connecting the three identified development nodes.
• Consider the West Innovation District a place for a future passenger rail and Hyperloop stop.
• Create a Smart Corridor R&D facility in West Innovation District on city and/or university-
owned land (Could be part of RFI referenced under Strategy 1 Action 2).
• Study and integrate with the MORPC and COTA corridor studies/initiatives.
• Consider multi-jurisdictional opportunities regarding East/West regional transit.
• Continue to support the linkage of the Northwest Corridor through the efforts of the
Transportation Research Center (TRC) and its related connected and autonomous vehicle
efforts along the Route 33 Corridor in addition to the development of the Beta District.
• Continue marketing and expanding the Dublin Connector service.
23
Strategy 2: Make Dublin’s Development Processes More Transparent and
Predictable Thereby Reducing Uncertainty
Rationale
The economic development strategy from 2019 outlined in detail the case that attracting and retaining
value-added business enterprises is highly competitive, and the ability to grow and scale such companies
within a region is extremely difficult. For a city to be a competitive location for attracting and retaining
industrial drivers, it must ensure that its government policies, procedures, regulations, and codes are
encouraging rather than discouraging investment.
In gathering input for the 2019 economic development strategy, business leaders indicated that there is
a perception that Dublin can be a difficult and expensive place to do business. While efforts have been
undertaken since then to streamline the process, results from a recent survey confirm that Dublin’s
regulatory environment is still of primary concern to its business leaders, falling only one percentage
point behind lack of qualified employees and housing as the greatest barrier to company growth (Figure
4). In follow-up questions, business leaders expressed concern over the lack of transparency of decision
making as well as the predictability and timeliness of decisions, all of which increase costs to conduct
business in Dublin. While Dublin’s stringent design, planning, and zoning standards have contributed to
Dublin maintaining a high “quality of place” in the face of rapid growth, others note that there are a
number of equally attractive communities in the region that are viewed as easier to work collaboratively
with on business development initiatives.
Figure 4. Current Barriers to Growth for Dublin Companies
Source: TEConomy Analysis of Dublin Economic Development Survey Results
It is critical that the City of Dublin evaluate its development processes to identify opportunities to be
more transparent and predictable thereby reducing uncertainty. This will require that the city clearly
articulate the type of development being sought, and then have the wherewithal to adhere to the stated
vision/plan for development.
24
Actions to Pursue
In order to identify opportunities to streamline and make a more predictable development process
thereby reducing uncertainty, Dublin should focus on the following two actions:
• Foster understanding and predictability regarding the type of development being sought and
adhere to the stated vision/plan for development; and
Action 5: Foster Understanding and Predictability Regarding the Type of Development being
Sought and Adhere to the Stated Vision/Plan for Development
As a result of its reputation within the business community, it is critical that the City of Dublin streamline
and make more predictable its development processes thereby reducing uncertainty. Tactics to pursue
to foster understanding and predictability include the following:
• Validate Council’s commitment to the following area plans:
o Dublin Corporate Area Plan (DCAP)
o West Innovation District (WID)
o Bridge Street District (BSD)
• Update the Community Plan:
o Reaffirm overarching Vision section
o Update Community Character and Environment and Fiscal Analysis sections
o Identify any areas of the community that could be rezoned to allow development by
right, rather than requiring additional approvals.
• Articulate Council’s vision to Council/Board/Members/Staff:
o Conduct joint training for Board and Commission members and staff clearly
articulating vision/responsibilities/purview
o Ensure that development plans are adhered to and policies are followed routinely.
• Explore additional opportunities for innovative/expedited Visioning Process involving Council,
Board/Members, staff, developers, and land owners similar to 2022 DCAP Visioning Process.
• Ensure that as new hires come on board as part of the economic development leadership staff
they are connecting with industry leadership on a regular basis (Strategy 4, Action 10).
25
Strategy 3: Nurture the Growth of Targeted Industry Clusters through Proactive
Attraction and Business Retention/Expansion Activities
Rationale
Dublin has long recognized the value of cluster-based economic development strategies, and TEConomy
recommended in its 2019 strategic plan that Dublin continue to pursue best practices centered around
targeted industry sectors. The Brookings Institute notes in their broad re-examination of cluster-based
economic development strategy in 201828 that successful cluster initiatives have five key traits:
• They are focused on establishing a robust ecosystem, not quick job gains;
• They are industry-driven, university-fueled, government-funded;
• They place a collective big bet on a unique opportunity;
• They are championed by passionate, dedicated leaders, typically within industry; and,
• They are anchored by a physical center.
The City of Dublin’s major industries continue to meet several of these criteria, and coupled with
targeted growth initiatives that address gaps the ongoing potential of cluster-based economic
development for the city can yield significant growth if properly executed.
While the successes of cluster-based strategies validate its importance in guiding policy, Brookings also
notes that cluster growth is a dynamic and complex process:
In his book, The Keys to the City, Michael Storper posits that the regions that manage to
continually benefit from agglomeration throughout these cycles do so by effectively specializing,
adapting, and respecializing. While there is still no consensus among economists about what
conditions best allow for this, there are a few hints. Regions need to specialize to drive
productivity, but successful regions seem to specialize in a certain way. Rather than specializing
in a single industry, regions that experience robust job growth tend to have a presence of
economic activities that are related enough to allow for effective specialization but offer enough
variety that they can evolve into new industries and activities should the old ones experience
decline. For example, Detroit’s decline was both attributable to the decline of the auto industry
and the lack of a new growth industry to replace it. Silicon Valley, on the other hand, has
experienced many cycles of industrial decline (e.g., computer manufacturing, semiconductors,
etc.), yet has always found a new but related set of activities that generate the next growth cycle
(e.g., software development, artificial intelligence, etc.).29
In light of the disruptive trends highlighted in previous sections, Dublin may find itself at a point in time
where adaptive respecialization and a renewed focus on key industries is needed to mitigate risks from
broader regional and macroeconomic trends. Brookings acknowledges that the impact of the pandemic
and broader socioeconomic trends have introduced several new factors for consideration in cluster-
based development since 2018, including addressing economic inequality, targeting clusters at global
challenges such as climate change, leveraging urban-rural linkages to better compete with “superstar”
28 Rethinking Cluster Initiatives, Brookings Metropolitan Policy Program, July 2018.
29 Ibid.
26
metros, and leveraging new analytical approaches to optimize around a specific set of clusters rather
than more generic ones.30
As the city’s clusters continue to evolve due to ongoing trends in the broader macroeconomy as well as
changing conditions in the local environment, it is critical that Dublin continue to emphasize creating
broader cluster ecosystems rather than pursuing single opportunities in isolation. The city remains home
to several specialized bases of industry employment, but recent uncertainty in the traditional office
markets in combination with emerging new growth opportunities across the Greater Columbus region
has created some instability in the clusters that have historically grounded the city’s strategic outlook.
Understanding the way that the city’s clusters continue to shift towards new end markets and actively
deploying solutions to target cluster development will be critical for Dublin in the coming years to help
mitigate risk as well as capture significant shares of growth in new markets.
Actions to Pursue
In order to nurture growth of targeted industry clusters through proactive attraction and business
retention and expansion activities, Dublin should focus on the following three actions:
• Enhance existing economic development efforts;
• Focus the Economic Development Team’s efforts on key industry clusters; and
• Capture a larger portion of the Greater Columbus Region’s scaling/high-growth companies.
Action 6: Enhance Existing Economic Development Efforts
Local governments that have put the most effort and resources into spurring local growth have
generated significant results and an impactful bang for the public’s dollar. As more people come to
understand the connection between public policy and economic prosperity, it is important to
understand that enhanced economic development efforts that engage a broad constituency of thought
leaders can have significant impact on a region’s economy. For example, educational institutions, who
will nurture and teach the children of those we hope to attract, is critical to drawing in and retaining the
young families an economy needs to grow.
The critical role local decision-makers play in creating fertile and sustainable economic development
can’t be overstated. It’s incumbent on them—in the fierce competition across the globe for economic
growth—to double down on the policies and strategies that work, eliminate those that make the city
less attractive to business development, and build the infrastructure needed to keep it growing.
It is critical that the City of Dublin enhance existing economic development efforts. Tactics to pursue to
enhance economic development efforts include the following:
• Advance collaboration/partnerships among industry, academia, and government to advance
economic development.
• Work with the Dublin City Schools on the growth of its academy programs by finding industry
and university partners for additional physical spaces and training opportunities.
30 A new federal grant should make regional leaders rethink their industry clusters, Brookings Institute article,
September 2021.
27
• Train the City Leadership Team to conduct business retention and expansion visits.
• Have the City Leadership Team visit with the Top 10 largest companies and key industry cluster
firms annually.
• Understand/be creative in the types of incentives that can be leveraged, for example:
o Performance
o Infrastructure
o TIFs
o Land
o Fiber optics
o Grants – relocation, renovation, LEED, technology, etc.
o Entrepreneurial Services
o PACE
o Community Reinvestment Area
o Federal grants for mobility/smart technology/beta test sites.
• Provide staffing to ensure a minimum of 250 business retention and expansion visits can be
conducted annually.
• Be proactive in terms of near-term semiconductor opportunities by:
o Creating a rapid response team for semiconductor projects. This team might include
representatives from Economic Development, Planning, Engineering, the City
Manager, and Planning & Zoning Commission.
o Hold regular internal collaboration meetings between Economic Development,
Planning, Engineering, and Transportation and Mobility to coordinate goals and
efforts, and to discuss the City’s prospect pipeline in order to ensure the City can
respond quickly and effectively to leads.
o Develop industrial/flex/lab-focused property capacity studies for priority sites.
Encourage private property owners (possibly through incentives) to undertake
required due diligence studies.
o Continue to cultivate relationships and information sharing protocols with utility
providers to improve readiness to handle complex project inquiries.
o Demonstrate that the City is not only responsive to inbound project opportunities but
can also improve its ability to satisfy information requests from complex project
inquiries and execute projects with speed and certainty when semiconductor
prospects arise.
28
Action 7: Focus the Economic Development Team’s Efforts on Key Industry Clusters
As noted in the 2019 economic development strategy, the city’s industrial base has historically strong
industrial specializations that create opportunities related to expansion, attraction, and supply chain
development. However, future growth is not assured in the midst of disruptive headwinds. As a result,
city’s economic development efforts need to be organized to most effectively engage and focus on the
needs and opportunities of evolving and newly emerging industry clusters. Re-examining the city’s
clusters affirms the need for advancing an integrated economic development approach for each
targeted industry cluster that focuses broadly on retention and expansion, business attraction, and new
company formation, and is tailored to maximize the opportunities presented by each specific industry
cluster’s position in the global marketplace.
In the 2019 economic development strategy, TEConomy identified the set of regional industry clusters
driving the Greater Columbus Regional economy and their presence within Dublin’s industry footprint.
This prior identification formed an important foundation and knowledge base for updating the region’s
and City of Dublin’s industry cluster analysis, and also highlighted several key clusters where Dublin had
both competitive advantages and strategic opportunities for expansion:
• IT and Computer Services
• Medical Biosciences and Healthcare Services
• Mobility Technologies
Over the course of the pandemic, these and many of the city’s other clusters saw significant declines
which have been partially offset by the recovery from the pandemic (for full discussion of employment
trends, see data analyses of cluster economic performance in Appendix A). At the same time, clusters
that remain highly specialized in the region such as Corporate Headquarters, Business Support Services,
and Finance & Insurance are at highest risk of being disrupted by new technologies, workforce trends,
and hybrid working models. Compounding the situation is a broader sense of economic uncertainty
amidst high inflation rates and pullback from major employer job and investment activity due to
macroeconomic recessionary warning signs.
The city now has a strong case for refocusing its targeted industry attraction around this set of
opportunities to help build resilience to ongoing trends as well as bolster its existing cluster strengths.
Based on an updated analysis of the comprehensive picture of the region’s and city’s industry clusters,
several potential targets emerge as opportunities for a renewed cluster strategy:
• IT & Computer Services, which remains a specialized industry in the city despite the impacts of
remote work models and is critical to maintaining the city’s workforce relevance in industry
attraction efforts. The city should pursue mid-size and emerging IT and tech services companies
(such as local company Expedient) with smaller physical space needs and seek to co-locate them
with other destination offices in mixed-use districts to increase the dynamism of the cluster.
Similarly, the city can seek to increase its resident workforce in this space to bolster business
attraction, including remote workers seeking to access Dublin’s lifestyle advantages.
• Medical Biosciences & Healthcare Services, an emerging cluster centered around allied health
opportunities and anchored by large developments and expansion of hospital and clinical
services, which can serve as a link to rural communities to the city’s west as well as grow an
29
ecosystem of healthcare technology and services providers locating in proximity to major clinical
operations.
• Electronics & Mobility Systems Design & Engineering, which can leverage the city’s historical
cluster strength in R&D and engineering services and proximity to mobility innovation assets to
capture upstream technical services providers for the new semiconductor industry in addition to
high value-added engineering services and systems integrators in the mobility industry. This
cluster can leverage smaller footprint light manufacturing and flex space that the city is better
equipped to provide in a land-constrained environment, and functions in a complementary role
to other clusters by diversifying the city’s industry base across additional advanced industries.
• Destination Office Locations for Tech-Enabled Products and Services, an evolution and
aggregation of the Corporate Headquarters, Business Support Services, and Finance and
Insurance Industries which seeks to attract “destination” office hubs for hybrid work companies
supported by mixed-use business districts. The city should seek to attract companies in tech-
enabled applications (such as companies providing tech-enabled business services like Updox)
that are less likely to be disrupted by ongoing trends and which can serve to attract resident
workers with digital skills.
Further detail on recent activity in these clusters as well as potential actions for consideration as part of
a cluster-based economic development strategy are discussed below.
IT & Computer Services
Dublin is already home to a specialized cohort of IT and computer services companies, and this cluster
has historically been a critical component of Dublin’s industry base. The cluster employs nearly 3,900
workers as of the end of 2021, and Dublin is home to nearly 19 percent of the Greater Columbus
Region’s workforce in this space which drives a very high employment specialization. While the industry
faced declines during the pandemic, a rebound in growth in 2021 shows that the sector has nearly
recovered with recent trends at the metro level indicating strong regional growth for 2022 (see Table 1).
Table 1. Performance of Dublin’s IT & Computer Services Industry Cluster
Dublin
Industry
Clusters
Empl.,
2021
Location
Quotient,
2021
Dublin
Avg. Annual Employment Change
U.S.
Avg. Annual Employment Change
2014-
17
2017-
20
2020-
21
2017-
21
2014-
17
2017-
20
2020-
21
2017-
21
IT &
Computer
Services
3,851 2.30 6.0% -3.9% 2.7% -2.3% 5.5% 4.4% 6.1% 5.1%
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017; QCEW via
Lightcast data release 2022.4
In the 2019 strategy, TEConomy noted this cluster’s immense importance as the enabler of digitalization
of all types of industries, driving new technology sectors and attracting high growth companies. The
headwinds noted above confirm that this sector is still a critical enabler of future growth for Dublin
across all its industries, as well as a core anchor for the tech worker labor force the deploys modern
30
digital and software skills. Notably, Dublin saw major growth in software developer positions across all
industries, with a 29 percent increase in jobs to over 1.6k workers in these roles over the 2017-2021
period, a rate that matched the Greater Columbus region’s growth and exceeded national growth.
Companies are increasingly focused on providing front- and back-end turnkey services to other
industries to enable many of their core business functions as digital integration continues to increase.
Key applications areas continuing to see growth nationally and regionally include:
• Cloud services and web and data hosting (including data centers), where Dublin is already home
to several leading companies.
• Software-as-a-Service (SaaS) Products serving a variety of industries, focused primarily on
process automation and data analytics functions in end market applications such as business
support functions, financial services, healthcare services, logistics, and consumer retail
operations.
• High performance computing services, led by providers of “virtual” computing power to do
back-end data processing for applications and services but also including configuration,
installation, and maintenance of computer clusters and other business IT infrastructure.
• Networking and connectivity systems, often deployed within Internet of Things (IoT) devices and
connected infrastructure via specialized providers who do primary assembly and integration
work.
Despite the increasing role of remote work within this industry cluster, Dublin continues to employ a
major share of talent that will continue to be critical to long-term growth. However, as noted across
several of the disruptive impacts outlined in previous sections, the continued presence of the industry
and the ability to attract a residential workforce with industry-ready skills is not assured amidst a highly
competitive labor market and major tech companies growing in peer communities. In order to help
continue to root this cluster in Dublin and build resilience to risks, tactics that the city could pursue
include the following ideas:
• Develop a renewed industry attraction and retention strategy for IT and computer services
firms, as well as other “tech” applications firms, designed to attract small and mid-sized anchor
office locations to mixed-use development nodes across the city. This strategy would recognize
the growing competitiveness of peer communities across the Greater Columbus region and
work in complement to redevelopment and adaptive reuse efforts to create site locations and
amenities that are most in demand from IT and computer services companies, particularly small
and emerging companies with high growth potential.
• Deploy a parallel initiative aimed at a renewed “tech” resident workforce attraction to mitigate
risks to the “hollowing out” of Dublin’s high skills IT and computing workers due to population
demographics shifts, intense competition from other peer communities, and to serve as a core
pillar of company attraction to the city for destination office locations. This strategy would
employ a multi-faceted approach to skilled tech worker attraction, including increasing access
to housing for early career tech workers, buildout of mixed-use nodes providing amenities, and
branding initiatives designed to capture talent flows from the Columbus region’s urban core to
outlying suburban communities.
31
• Build on Dublin’s valuable fiber infrastructure in the Dublink network to expand low latency,
high performance connectivity across the city, and build out full coverage of residential fiber
networks to build a strong workforce attraction asset for resident workers in tech industries.
Medical Biosciences & Healthcare Services
While Dublin has recently begun to see increased development activity around major healthcare
services industries through projects from Ohio State Wexner Medical Center, Dublin Methodist, and
Mount Carmel, employment growth in this space has yet to offset significant declines in the healthcare
workforce during the pandemic as of the end of 2021 (Table 2). This is due in part to broader national
labor supply concerns for the healthcare industry, as facilities attempt to grapple with high worker
turnover and mitigate challenging working conditions. Moving forward, Dublin’s efforts to grow this
cluster could bear significant fruit if the city can build out clusters of specialty healthcare services
providers and other healthcare business support around major development projects, especially given
the presence of Ohio University’s medical campus and potential access to healthcare markets in rural
areas northwest of the city.
Table 2. Performance of Dublin’s Medical Biosciences and Healthcare Services Industry Cluster
Dublin
Industry
Clusters
Empl.,
2021
Location
Quotient,
2021
Dublin
Avg. Annual Employment Change
U.S.
Avg. Annual Employment Change
2014-
17
2017-
20
2020-
21
2017-
21
2014-
17
2017-
20
2020-
21
2017-
21
Medical
Biosciences
& Healthcare
Services
2,955 0.72 -0.1% -1.4% 0.0% -1.0% 2.6% 1.4% 1.8% 1.5%
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017; QCEW via
Lightcast data release 2022.4
Since other parts of the Greater Columbus region already boast significant clinical research hubs,
Dublin’s strategy in this industry cluster has evolved into an opportunity to capture population and allied
health demand from regional residents. This concept leverages healthcare “ecosystems” to provide
physical hubs where patients can receive a variety of services ranging from primary care to diagnostic
services to specialty treatment all in one geographic location, with ongoing patient care needs
supported by digital health technologies including telemedicine, wearable monitoring, and other
distance healthcare applications. The integrated nature of these ecosystems means that digital health
applications in patient data management, payment and reimbursement processing, and clinical decision
support systems are also critical components, which can attract additional industry presence focused on
those services. The result is an end-to-end healthcare ecosystem of a variety of different healthcare
providers and services companies managing patient outcomes through value-based care.
Dublin has the opportunity to leverage its recent activity towards becoming a regional healthcare
ecosystem serving the US-33 corridor (and potentially beyond). Existing hospitals and specialty care
providers provide a significant backbone to build on, centered around the physical anchor of the medical
32
campus. Economic development strategy can target supporting digital health services providers as well
as specialty diagnostic clinics and labs to help build out this ecosystem, and site them in proximity to
existing and emerging developments. However, a key need to create economic value from a healthcare
ecosystem will be finding sufficient labor to staff operations; amidst a challenging healthcare labor
market and changing commuting preferences for workers in these labor segments, the city will need to
take action to ensure that allied healthcare workers have access to housing in proximity to major
provider locations.
In order to help ensure that recent growth continues to build momentum in Dublin, tactics that the city
could pursue include the following ideas:
• Continue to support buildout of major healthcare delivery sites anchored around the medical
campus district, including targeted attraction of secondary healthcare suppliers and services
that can cluster in proximity to large care delivery locations and anchor additional bases of
employment to create allied health ecosystems.
• Emphasize the value proposition of the region to digital health and healthcare services tech
companies, and aggressively target small- and mid-sized companies in this space with attraction
efforts to appropriately developed site locations in proximity to major hospitals and outpatient
care facilities.
• Continue to explore opportunities to attract R&D and innovation activities in gerontology/aging
science as well as remote/rural health through public-private partnerships to build on the base
of industry activity and align with patient population needs.
• Explore ways to increase accessibility to high-density housing in proximity to major care facilities
for allied health workers to improve opportunities to meet labor demand in the face of changing
commuting patterns.
Electronics & Mobility Systems Design & Engineering
Although not as sizable as other major clusters, Dublin’s R&D and engineering services sector is a key
differentiator for the city as it considers the next generation of opportunities that are poised to
transform the Greater Columbus region. Despite declines in job growth during the pandemic, the sector
still remains highly specialized and totaled nearly 1.4k jobs in 2021, anchored by major engineering
services and transportation systems firms as well as companies specializing in materials and food science
as well as laboratory services (Table 3). The existing cluster can help position the region to pursue new
strategic opportunities in two key areas that leverage systems engineering as well as R&D and testing:
electronics systems, driven by the buildout of Intel’s semiconductor industry cluster in the Greater
Columbus region as well as mobility and transportation systems, driven by ongoing activity based
around the US-33 Smart Mobility Corridor and proximity to major automotive manufacturing operations
in Marysville. Both these areas present opportunities for the city to re-specialize and evolve the existing
industry base, and are complemented by synergies with the IT and Computer Services cluster which
serves as a key services supplier to both industry focus areas.
33
Table 3. Performance of Dublin’s R&D and Engineering Services Industry Cluster
Dublin
Industry
Clusters
Empl.,
2021
Location
Quotient,
2021
Dublin
Avg. Annual Employment Change
U.S.
Avg. Annual Employment Change
2014-
17
2017-
20
2020-
21
2017-
21
2014-
17
2017-
20
2020-
21
2017-
21
R&D &
Engineering
Services
1,373 1.68 6.2% -5.4% -0.4% -4.1% -0.3% 2.0% 3.2% 2.4%
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017; QCEW via
Lightcast data release 2022.4
As noted in the headwinds sections, the investment by Intel in its production operations in New Albany
and the subsequent attraction of major supplier clusters will present major opportunities for the city to
capture new types of industry that are aligned with forward-looking growth. Dublin has recognized the
magnitude of this opportunity and worked to undertake a semiconductor positioning study in
conjunction with Newmark Consulting (Appendix C). The results of this study, summarized in Figure 5,
note that the city is best positioned to attract office, lab, flex, and some light industrial development
associated with the semiconductor industry and its suppliers.
Figure 5. Planning District Assessments for Semiconductor Investment from Newmark Positioning Study
Source: Newmark Semiconductor Positioning Study performed for City of Dublin
TEConomy is in agreement with the analysis put forward in the Newmark study, and would further note
that Dublin is well-positioned to attract value-added upstream microelectronics R&D and design services
that align with its existing base of skilled talent, its specialized R&D and Engineering services cluster, and
lower need for large land use requirements.
Similarly, the State of Ohio and in particular the Greater Columbus region is positioned amongst a group
of midwestern states making significant investments in transportation and mobility systems innovation.
This activity includes not only traditional vehicle manufacturing sectors, but is also focused on
implementing vehicle systems connectivity and modern transportation infrastructure backed by
34
advanced analytics platforms. DriveOhio, the Ohio Department of Transportation’s initiative seeking to
coordinate innovation activity and assets in this space, notes that the current portfolio of activity
includes automated vehicle, connected vehicle, electric vehicle, and advanced air mobility efforts, all
applications areas with high future growth potential. Dublin has also recognized the importance of this
sector as a future driver of growth through its participation in the Beta District, which places emphasis
on using infrastructure and testing assets to enable a “living laboratory” for piloting new transportation
projects. As with semiconductors, the city can work to target high value-added upstream systems
engineering companies engaged in the design, R&D, and integration work for transportation and
mobility systems that can leverage the existing R&D and Engineering Services cluster and grow the
footprint of activity in this space over time, as well as continue to attract projects that emerge through
the evolution of Columbus’ investments from the US DOT Smart City Challenge award in 2016. This area
also benefits from the presence of a complementary IT and Computer Services cluster that can provide
infrastructure and services to engineering firms testing and deploying mobility systems.
In order to help ensure that Dublin can capture new opportunities in these future-facing cluster
specializations, tactics that the city could pursue include the following ideas:
• Utilize the analysis highlighted in the Newmark Semiconductor Positioning Study to position the
city to attract high value-added upstream R&D, design, and engineering opportunities related to
the growth of the semiconductor industry in the region over the next decade. Specifically:
o Create an inventory of all vacant lands and City-owned parcels that could potentially be
(re)developed for semiconductor sector and other high-priority uses.
o Generate semiconductor-focused content for the Dublin Economic Development
webpage.
o Identify a set of companies/manufacturers that could serve as ambassadors for future
site selector visits.
o Identify the top sites in each of Dublin's community areas/districts that should be the
emphasis for marketing.
o Organize familiarization (“fam”) tours for site selectors and companies around major
events. Consultants can be targeted through the Site Selectors Guild, and company
prospects in the semiconductor supply chain can be identified in association with One
Columbus and JobsOhio.
o Develop a list of semiconductor prospects in other communities and proactively market
Dublin to those prospects.
o Attend key semiconductor trade shows to market Dublin as a community of choice for
semiconductor business relocation. The leading event in North America is SEMICON
West. Other event schedules can be sourced through the semiconductor industry
association called Semi (www.semi.org), and through JobsOhio.
• Continue to pursue opportunities through the Beta District and DriveOhio that build awareness
of the smart mobility opportunity and attract small and mid-sized mobility systems engineering
services firms developing innovative products and services.
• Seek to redevelop land in key districts such as the Blazer Research, Metro Office, Emerald
Corporate, and Shier Rings Techflex Districts to better serve the needs of small to mid-size
systems engineering companies, and seek to root clusters of emerging companies in these
spaces within hubs with shared access to relevant assets (e.g., connectivity, power, etc.).
35
• Work with Emerald Campus and other educational and training partners to develop workforce
skills-building, reskilling, and upskilling programs targeted at advanced mobility systems and
semiconductor design and production to build the city’s brand as a workforce development hub
in these applications areas.
Destination Office Locations for Tech-Enabled Products and Services
Dublin is still home to significant groups of companies with headquarters and branch offices across a
number of key industry clusters, including formal corporate headquarters, business support services,
finance and insurance services, and creative and design industries. Despite their sizable employment
footprint and current specializations, mixed performance over the last several years and the many
potential risks of disruption outlined in the headwinds facing the city make investment in targeting
these industries with traditional development projects an uncertain proposition (Table 4).
Table 4. Performance of Dublin’s Industry Clusters Aligned with Traditional Office Needs
Dublin
Industry
Clusters
Empl.
2021
Location
Quotient
2021
Dublin
Avg. Annual Employment Change
U.S.
Avg. Annual Emp Change
2014-
17
2017-
20
2020-
21
2017-
21
2014
-17
2017-
20
2020-
21
2017-
21
Business
Support
Services
2,878 2.31 -0.9% 0.5% -0.3% 0.3% 3.5% 0.9% 4.2% 1.7%
Corporate
HQs/Managing
Offices
4,481 2.87 -5.0% 6.4% -1.3% 4.4% 1.9% 0.6% 1.1% 0.7%
Creative &
Design
Industries
791 2.08 4.1% -5.9% 2.4% -3.9% 2.1% -2.5% 2.8% -1.2%
Finance &
Insurance 4,179 1.42 -11.2% 2.5% -4.5% 0.7% 1.6% 0.8% 1.7% 1.0%
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017; QCEW via
Lightcast data release 2022.4
Greater Columbus is home to a rapidly growing tech market, backed by significant VC investment. To
attract the next generation of growing companies and compete for high growth startups advancing
cutting edge technology, Dublin should seek to attract “destination” offices for major tech companies in
the region as well as root clusters of anchor office sites for emerging companies within mixed-use
business districts. To minimize the risk of disruption, the city can target both mature and emerging
companies advancing tech-enabled applications that leverage in-demand skills and technology
platforms. In addition to those noted above, several key industry verticals where the Greater Columbus
region has advanced tech-enabled products and services in recent years include:
• FinTech, InsurTech, Marketing & Sales Tech, and Other Financial Services and Business Support
Services Tech
• Business Process Automation
36
• Healthtech and Healthcare Services Software, and
• Enterprise Management and Human Resources Software.
Dublin is already home to several leading companies in these spaces with tech-enabled solutions,
including Epiq, Corvel, Updox, and Veeva amongst many others. However, as noted in the discussion of
disruptive trends, the real estate needs of these companies as well as the environment demanded by
their workforces are rapidly changing. The city also needs to continue to attract emerging companies
and entrepreneurs with high growth potential that can anchor the next generation of tenant companies
in the city’s major commercial districts, and is facing stiff competition from other peer communities
across the region to attract tech-focused firms.
To address risks of disruption from new trends in industries that have traditionally help to anchor
Dublin’s demand for office space, tactics that the Economic Development Administrator could pursue
include the following ideas:
• Pursue a business attraction campaign targeted at smaller footprint, tech-oriented companies
that can help mitigate risk of disruption to the city’s established corporate base.
• Implement a redevelopment campaign for Dublin’s legacy office park stock designed to upgrade
the aging office spaces and align them with the needs of tech-focused companies seeking
destination offices for hybrid workforces. This should include the use of mixed-use nodes and
other modern amenities, and targeting of space and infrastructure needs for companies that are
advancing digital or tech-enabled solutions.
• Explore development of signature coworking or “on-demand” office projects in conjunction with
new amenities that can serve as a vibrant “destination” for residential remote workers and can
help mitigate risks from increasing adoption of remote work models for traditional office parks.
• Explore the potential to attract a site location for a major venture capital investment entity, tech
incubator or accelerator, or other signature assets that can serve to better anchor an
entrepreneurial ecosystem in the city’s commercial districts and mitigate risks of relying on
attracting emerging firms from other locations.
• Examine incentives and investments being deployed by peer communities to attract emerging
tech-based companies to competitively benchmark Dublin’s position and inform strategy.
Action 8: Capture a Larger Portion of the Greater Columbus Region’s Scaling/High-Growth
Companies
As Action 8 outlined, the economic vitality of Dublin depends, in part, upon its capacity to foster the
formation of new entrepreneurial-led businesses and sustain their growth as they scale-up and generate
new, high-paying jobs in the community. Entrepreneurially led start-ups targeted on traded sector
activities are needed to sustain economic growth. As a result, it is critical that the City of Dublin capture
a larger portion of the Greater Columbus Region’s scaling/ high-growth companies. As previously noted,
the Greater Columbus Region has become one of top metropolitan areas in the nation for scaling young
companies, demonstrating the growth of its entrepreneurial culture and resources. Tactics to pursue to
capture these firms in Dublin include the following:
• As firms outgrow existing incubation space elsewhere in the Greater Columbus Region,
leverage Dublin’s live/work/play developments (Strategy 1) to attract scaling firms thereby
further diversifying Dublin’s economy.
37
• Work with the regional entrepreneurial ecosystem (Rev1, One Columbus, JobsOhio, and area
venture capital firms) to identify/access these scaling firms.
• Monitor and work to attract international R&D locations in key industry clusters.
• Develop additional building inventory suitable for scaling firms that require space to grow into
(See Strategy 1).
• Continue to promote the start-up community in Dublin by leveraging the various co-working
spaces in Dublin, such as Brickhouse Blue and CoHatch, and also determining the relevancy
and future focus/efforts of the DEC.
• Leverage Dublin’s IT infrastructure capabilities:
o Promote Dublink as a competitive/cost saving advantage by developing a new
targeted education campaign on the benefits of Dublink.
o Increase Dublink capacity and availability to commercial buildings.
Strategy 4: Foster Sustainable Partnerships to Catalyze Value-Added Collaborations
Rationale
It is not by mistake that Strategy 4 was placed in the center of the Venn Diagram as depicted in Figure 3.
The first three updated strategies will require public-private partnerships in order to be successfully
implemented, and the tactics described throughout the first three strategies call out numerous areas in
which collaborations will be required. However, effective public-private partnerships are so critical in
developing a robust economic development ecosystem that it is worth calling specific attention to a
stand-alone strategy with recommended actions and tactics to ensure successful implementation.
Networking between industry representatives, academia, and the public and non-profit sectors has been
a proven staple of economic development for many regions. Whether formalized through collaborative
institutions, through general industry technology councils, or more ad hoc informal efforts, there should
be little doubt that regular contact and dialog between industry, academia, and the public and non-
profit sectors can be the spark that leads to broad transformative initiatives. During the qualitative
interviews, a number of industry leaders discussed the fact that they did not feel that there was the
opportunity to network with other members of the industrial community or with city leaders. When
asked if they would take part in such activities if venues were offered, they indicated they would
welcome the opportunity.
Raising awareness and building relationships is a foundational building block for establishing stronger
collaborations between industry, academia, and the public and non-profit sectors. However, many
regions lack the reproducible and sustainable mechanisms that allow academic, private, and public
organizations to learn about each other’s approaches and capabilities. All too often, organizational silos
exist that limit how the private sector, academia, and the public and non-profit sectors understand the
opportunities for engagement and collaboration with one another.
38
Regions that are viewed as having a value-added networking/connectivity culture, often have the
presence of the following attributes:
• Face-to-face exchange of ideas and synergies that lead to the development of solutions;
• Recognition of the importance of diversity;
• Intrinsic belief that ideas only get better when they are openly discussed and considered by a
mix of people;
• Recognition that large scale and sustainable economic growth is the product of collaboration;
and
• Pursuit of value-added collaborative teams rather than the lone thought-leader.
Regions that are viewed as having a culture that promotes and fosters cooperation and collaboration to
solve its most pressing issues have the presence of the following assets:
• "Pride of place" – strong commitment to region, desire to see region prosper, belonging to a
place they want to live, including social networking focused on community-building;
• Regional positivism (able to see opportunity in challenges) and proactive preparation for
inevitable change-creating greater resilience within the community; and
• Collaborative environment, including collaborations between:
o Larger and smaller companies;
o Public, private, and philanthropic sectors;
o Academia and industry;
o "Old" and "New" sources of wealth within the region;
o Engagement in cross-fertilization for innovation, problem solving and creation by
participants from different business groups, industrial sectors and fields of
science/engineering.
Actions to Pursue
In addition to the numerous partnership that are referenced in Strategies 1, 2, and 3, in order to foster
effective partnerships to catalyze value-added collaborations, Dublin should also focus on the following
two specific actions:
• Connect industry leadership with city leadership on a regular basis; and
• Establish more effective industry networks to better connect local companies to each other
and to the broader community as well as better connect the public and non-profit sectors to
one another and to industry.
Action 9: Connect Industry Leadership with City Leadership on a Regular Basis
The need for a cultural mindset that promotes connections, cooperation, and collaboration is rooted in a
number of related challenges:
39
• Problems often cannot be solved within organizationally defined boundaries, and decisions
made by one individual/organization/municipality can have adverse impacts on others.
• Many problems/issues are too large or complex for any one individual, organization, or unit of
government to address. Issues such as economic development, broadband connectivity, and
preservation of the quality of life in the region are examples of challenges that require
cooperation and collaboration.
• As organization and municipal budgets are strained and programs suspended or curtailed,
cooperative program delivery schemes that provide for the coordination of services and the
pooling of resources become more important. Long-term and area-wide planning for the
delivery and combining of these services become critical in the task of maintaining services by
improving the efficiency of delivery and cost-effectiveness through economies of scale.
Regional entities are prime venues for discussing, planning, and implementing such area wide
solutions.
As a result, it is imperative that efforts are undertaken that connect public-private thought leaders,
which in turn promotes economic growth and community prosperity for all.
It is critical that the City of Dublin connect industry leadership with city leadership on a regular basis.
Tactics to pursue to make these connections include the following:
• Conduct semi-annual Industry Roundtable events hosted by City Council to create dialogues to
ensure continuous process improvements.
• Conduct semi-annual Developer and Commercial Real Estate Brokerage Roundtable events to
create dialogues to ensure continuous process improvements regarding services offered,
development processes, permit processes, etc.
Action 10: Establish more Effective Industry Networks to Better Connect Local Companies to
Each Other and to the Broader Community as well as Better Connect the Public and Non-Profit
Sectors to One Another and to Industry
Industry leaders from large, medium, and small companies articulated a lack of connection between one
another as well as with elected and appointed city leaders. They expressed a desire to:
• Better network with one another to understand common needs/supply chains/talent
development and acquisition, and
• Better connect with city leaders to be able to articulate common visions/desires/needs.
Dublin’s economic development efforts can be further strengthened by establishing effective industry
networks that better connect local companies to each other and to the broader community, thereby
helping to:
• Identify common needs through dialogue with companies, and then focus on shaping ways to
provide more common services, such as addressing talent pipeline assistance, access to
markets, business service gaps, regulatory issues, etc.
• Provide guidance for economic development staff on cluster-based development.
40
• Serve as the portal/coordinated effort for attraction and expansion opportunities to ensure
that seamless and unified information and services are provided.
• Target out-of-state supply-chain and strategic partners of existing Dublin firms who are
seeking to expand or make business location decisions and therefore would be targets for
business recruitment efforts and help existing firms by filling supply chain gaps by locating in
the region.
• Aggregate and then address an industry cluster’s education, training, and workforce needs to
impact curriculum, program development, and experiential learning with K-12 and higher-
education institutions, helping education institutions by offering pools of skills needed to be
addressed. Specifically:
o Continue to engage with Dublin City Schools to support their expansion into
semiconductor manufacturing training for high school students.
o Continue to cultivate two-way relationships with higher education institutions to (1)
amplify the positive messages that the schools can deliver about Dublin, and (2)
improve the City’s ability to deliver value to its own businesses within vital industry
clusters as well as new semiconductor prospects.
• Stay abreast of emerging business issues, including federal regulatory changes, legislative
issues, foreign trade issues, etc. and providing a base for common education and advocacy
with elected officials and others.
• Develop branding/marketing strategies focused on pro-active outreach marketing for each of
the targeted industry clusters.
It is critical that the City of Dublin establish more effective networks to better connect local companies
to each other and to the broader community as well as better connect the public and non-profit sectors
to one another and to industry. Tactics to pursue to make these networks more effective include the
following:
• Establish formal industry networking groups with dedicated events with the goal of enhancing
regular local business community interactions.
• Actively pursue opportunities to host regional innovation-related events at leading Dublin
industries or establishments to increase awareness of the city and highlight local industry.
• Support and attend Chamber (Business After Hours, Leadership Dublin, Dublin Corporate
Challenge, Chamber Board, golf outings, etc.) and other business organizations’ events (JASCO,
AIABG, Chinese Chamber, Korean Chamber, Hispanic Chamber, Union County Chamber, HDBA,
NAIOP, Women in Tech, Black Tech, etc.)
• Leverage and work with other regional economic development initiatives led through
organizations such as JobsOhio, One Columbus, and MORPC.
• Better connect businesses to the community through:
o Volunteer efforts;
o Philanthropy;
o Event Marketing and sponsorship;
41
o Internships;
o Adopt a park, natural space, or recreation programs;
o Workforce initiatives aimed at development, attraction, and retention;
o Corporate wellness programs.
Implementation
It is unrealistic to assume that all actions can be implemented immediately, nor that they all hold the
same level of priority in terms of their impact on the future economic growth of the city. Table 5 clearly
identifies for each strategy the critical pathway and the recommended timing of each action.
For the classification of critical pathway:
• Essential for those actions that are essential for the success of the strategy;
• Significant for those actions that can make a major impact in advancing the strategy; and
• Important for those actions that can contribute to the success of the strategy.
For the classification of timing:
• Immediate actions are those that should be undertaken within the first six months;
• Short-term actions are those to be undertaken in the first year; and
• Medium-term actions are those to be implemented in the one- to three-year period.
Table 5: Strategic Priorities/Implementation Timeline
Strategy/Action Critical
Pathway Timing
Strategy 1: Create distinctive mixed-use development nodes to meet 21st Century industrial demand for
vibrant physical space while maintaining Dublin’s high quality of place standards
Continue to build on the momentum of Bridge Park/Bridge Street District
by supporting the development of additional live/work/play physical spaces Essential Immediate
Move the West Innovation District forward by setting the conditions for
development Essential Short-term
Focus efforts to redevelop the Dublin Corporate Area/legacy office parks
and provide additional points of connection to alternative living/retail
space
Essential Short-term
Connect development nodes through deployment of transportation and
mobility technologies Important Medium-
term
42
Strategy 2: Make Dublin’s Development Processes More Transparent and Predictable Thereby Reducing
Uncertainty
Foster understanding and predictability regarding development being
sought Essential Immediate
Strategy 3: Nurture growth of targeted industry clusters through proactive attraction and business
retention/expansion activities
Enhance existing economic development efforts Significant Short-term
Focus Economic Development Team’s efforts on key industry clusters Significant Short-term
Capture larger portion of Greater Columbus Region’s scaling/high-growth
companies Significant Mid-term
Strategy 4: Foster sustainable partnerships to catalyze value-added collaborations
Connect industrial leadership with city leadership Important Immediate
Establish more effective networks Important Short-term
Furthermore, it will be critical that progress made towards implementing the actions be measured over
time as well as the impact of the actions on the overall economy so that the strategic plan can be
modified in order to ensure its maximum impact. Figure 6 provides recommended measures of success
for each strategy.
43
Figure 6. Strategic Measures of Success
Source: TEConomy Partners, LLC.
44
Conclusion
The City of Dublin has faced dramatic shifts resulting from the global pandemic that have exposed
potential risks of disruptive change that include:
• An aging stock of commercial office space in conjunction with key anchor tenants re-evaluating
physical space needs in light of shifts in certain key industries towards hybrid and remote work
models due to the ongoing pandemic.
• Changing workforce dynamics and residential preferences in conjunction with a limited supply
of accessible housing stock that can continue to attract a highly skilled workforce.
• Rapid growth in the Greater Columbus Region’s economy and population that puts pressure on
established commuting patterns and employment destinations, particularly with respect to the
buildout of peer benchmark communities and corresponding increases in industry attraction
efforts that compete with Dublin’s profile as a destination community.
At the same time, Dublin faces new opportunities that continue to develop both in the city as well as
throughout the region including the major medical care facility expansions from Ohio State, Mount
Carmel, and OhioHealth and Dublin’s ongoing proximity to the Transportation Research Center (TRC)
and its related connected and autonomous vehicle efforts along the Route 33 Corridor in addition to the
development of the Beta District.. Exciting new developments such as the recent announcement of
Intel’s investment in the region in a $20 billion chip fabrication facility (and eventual expansion to
potentially up to a $100 billion buildout over the next decade) are also creating new economic
development opportunities that Dublin must be prepared to meet.
Recognizing these seismic shifts since the 2019 Economic Development Strategy was released, this
comprehensive update, driven by both qualitative and quantitative inputs, provides the basis for refining
the city’s strategy thereby helping to ensure Dublin is positioned for growth in coming years. Dublin’s
Updated Economic Development Strategy reinforces the need for 4 strategies and an associated set of
10 actions to focus the city’s efforts on the following:
• Creating distinctive mixed-use development nodes to meet 21st Century industrial demand for
vibrant physical space while maintaining Dublin’s high quality of place standards. This in turn
will create modern, live/work/play flexible spaces that will attract and retain not only a vibrant
industrial base but also the talent industry requires.
• Streamlining and making more predictable development processes thereby reducing
uncertainty. This in turn will create a business-friendly environment that is highly responsive to
changing industrial needs.
• Nurturing growth of targeted industry clusters through proactive attraction and business
retention/expansion activities. This will help ensure that Dublin’s economy is positioned for
future economic growth by ensuring that cutting-edge industries and the talent they require
find Dublin to be an attractive, business-friendly environment upon which to anchor their
success.
45
• Fostering sustainable partnerships to catalyze value-added collaborations. The entire
economic development strategy is predicated on the city’s ability to foster value-added
collaborations among industry, academia, and the government and non-profit sectors.
The updated strategic plan has been designed to capitalize on Dublin’s comparative assets and help
position the city to navigate the changing economic landscape. By working together, the opportunity for
the City of Dublin to grow its economic base and increase community prosperity is substantial. If
successful, it is expected that what will emerge are multiple public-private partnerships that will
advance the city for the coming decades.
Appendix A:
Dublin’s Economic, Talent, Innovation,
and Demographic Indicators
2
Overview of Data Update
•Project Scope: “provide a comprehensive set of quantitative inputs, that when
coupled with additional qualitative analysis, will offer the basis for helping to
refine the strategies outlined in Dublin’s current economic development
strategy.”
•Data update is presented across key tasks highlighted in TEConomy’s statement
of work:
•Section 1: Update of Greater Columbus Industry Clusters
•Section 2: Updates to Dublin’s Economic Performance and Workforce Data
•Section 2.1: Updates to Dublin’s Industry Clusters and Business Dynamics
•Section 2.2: Regional Benchmarking of Industry Clusters
•Section 2.3: Dublin’s Workforce and Talent Indicators
•Section 3: Recent Developments in Dublin’s Industrial Innovation Activity
•Section 4: Update of Dublin’s Socioeconomic and Demographic Profile
3
Setting the Context for Local Economic Analysis: The
Challenges of Leveraging Highly Localized Economic Data
•The city of Dublin is primarily defined by two zip codes, but the accuracy
of zip code-level economic data is constrained by a number of factors:
•Zip codes are not official geographies used by federal and state agencies that
publish economic data and are primarily used by the USPS for mail distribution.
•Highly localized economic data such as the data available at the zip code level is
often subject to limitations in coverage, suppression of detailed industry data, and
reporting time lags.
•Third-party data sources on individual establishments and employment
(sometimes called “micro firm” level data) often suffer from data quality issues and
require extensive cleaning and validation.
•Estimation and imputation methods to generate complete zip code data are often
highly sensitive to methodology assumptions and changes in the underlying federal
data.
4
Setting the Context for Local Economic Analysis: The Challenges
of Leveraging Highly Localized Economic Data (cont.)
•Given these limitations, all zip code employment data are fundamentally
estimates –the key difference between various sources is the
methodologies they use and the limitations in coverage and level of detail.
•Data generated and maintained by local tax departments and business
registers will always represent the most accurate way to monitor and
analyze the dynamics of local economies.
•However, this assumes well-established data structures are in place to track
detailed information about industry sectors and other relevant firm and
employment characteristics.
5
Changes to Background Data Used to Estimate Zip Code-
Level Economic Metrics Since the Last Update
•TEConomy’s prior analyses of Dublin’s economic position and dynamics
leveraged best available data sources that provided zip code-level estimates of
employment and establishments.
•However, changes to the underlying methodologies in both the federal reporting as well
as the methodology used by 3rd party data providers has brought to light some
shortcomings in the methodology used to develop those estimates.
•As a result of these identified data shortcomings, TEConomy has developed and
employed an improved estimation methodology to better capture Dublin’s local
economic dynamics.
•Despite reflecting a more accurate picture of local economic conditions, this change
means that results for this update are not directly comparable to the statistics shown in
prior updates.
•Please note -overall key findings and strategic recommendations from previous
assessments have not fundamentally changed as a result of this shift in methodology.
6
TEConomy’s Updated Approach to Estimating Zip Code-
Level Employment Trends
•To best estimate zip code level economic activity for this quantitative update, TEConomy
employed an approach that leverages both of the best available federal data sources on zip
code level employment: Census Zip Code Business Patterns (ZBP) and Census LEHD LODES Data
(see subsequent slides for more detailed explanations of these sources).
Start with
federally reported
total ZBP
Employment for
Dublin using the
time series over
the last decade
Develop high
level shares of
annual industry
activity using
LODES data for 2
Dublin zip codes
(at 2-digit NAICS
level)
Develop more
detailed shares of
annual industry
activity using
county and zip
code business
patterns data
across Greater
Columbus region
(at regional
industry cluster
level)
Inspect time
series for outliers
and any other
variation that
does not align
with known
industry and
employer trends
Dublin and
Greater Columbus
benchmark
region
employment
estimates over
the last decade
7
County Level Data: Census of Employment & Wages
(CEW), LightCast Data
Where Do the Data Come From?
•Fully disclosed annual employment and income
data is available at the U.S., state, and county
level based on the Bureau of Labor Statistics
Covered Employment and Wages (CEW) data
series. State employment services departments
collect the base data and pass it to the U.S.
Department of Labor as part of the
Unemployment Insurance Program.
•Some data in this series are non-disclosed at local
levels to protect privacy. LightCast (formerly
Emsi), a well-known provider of labor market
analytics products for economic developers,
adjusts the non-disclosed elements in these data
via an imputation process that provides a full set
of industry and employment data for economic
modeling.
•Latest year available: 2021
Key Strengths
•Highly reputable data product that relies directly
on mainstay economic data released by BLS.
•Ability to track employment, wages, and overall
establishments over time by detailed industry
codes.
Key Limitations
•BLS data are only available at county geography
levels, and a change to Lightcast zip code
employment estimation recently introduced high
variability into zip-level data.
•Does not allow for more detailed business
dynamics analysis such as new business starts,
business closings, and migrations.
8
Zip Code Level Data: County Business Patterns (and
associated Zip Code Business Patterns) Data
Where Do the Data Come From?
•County Business Patterns (CBP) is an annual series that
provides subnational economic data by industry on the
number of establishments, employment during the week of
March 12, first quarter payroll, and annual payroll.
•Statistics are available on establishments at the U.S. level and
by State, County, Metropolitan/Micropolitan Statistical Area
(MSA), Combined Statistical Area (CSA), ZIP code, and
Congressional District levels.
•CBP basic data items are extracted from the Business Register
(BR), a database of all known single and multi-establishment
employer companies maintained and updated by the U.S.
Census Bureau. CBP data are processed through various
automated and analytical edits to remove anomalies, validate
geographic coding, addresses, and industry classification.
•Latest year available: 2020
Key Strengths
•Well-known federal data source used for a wide variety of
analyses of economic activity.
•Zip code level employment data allow for more localized
estimates of economic activity by detailed industry and
occupation.
•Provides establishment counts in addition to employment.
Key Limitations
•Requires projection of 2021 data since CBP data releases lag
and latest year available is 2020.
•Detailed NAICS industry codes often contain suppression,
and a key change in reporting in 2017 that introduced
broader suppression of data at detailed geography levels
•“Beginning with reference year 2017, a cell is only published if it contains
three or more establishments. In all other cases, the cell is not included in
the release (i.e., it is dropped from publication)”
•Often limited to 2-digit NAICS industry estimates to leverage highest
quality data
9
Zip Code Level Data: LEHD Origin-Destination Employment
Statistics (LODES) Data
Where Do the Data Come From?
•The Longitudinal Employer-Household Dynamics (LEHD)
program is part of the Center for Economic Studies at the U.S.
Census Bureau where states agree to share Unemployment
Insurance earnings data and the Quarterly Census of
Employment and Wages (QCEW) data with the Census
Bureau through the Local Employment Dynamics Partnership
framework.
•LODES is “a partially synthetic dataset that describes
geographic patterns of jobs by their employment locations
and residential locations as well as the connections between
the two locations” that leverages the LEHD program data to
produce zip and census tract-specific estimates of resident
and nonresident workers.
Latest year available: 2019
Key Strengths
•Federal data source often used for analyses of local
economic activity and commuting patterns.
•Census tract level employment data allow for highly localized
estimates of resident and nonresident worker levels.
•Provides highly specific geographic context for broad
industry sectors and establishment types.
Key Limitations
•Requires projection of 2020 and 2021 data since data
releases lag and latest year available is 2019.
•Industry data is limited to broad 2-digit NAICS sector level so
analyses of detailed or customized groupings of sectors
requires further estimation of employment levels.
•Some state-year combinations of data are not available due
to historical unavailability (not relevant to Dublin context).
10
Recap of Broader Methodology for Evaluating Dublin’s
Economic Landscape Using Updated Data
•In addition to local employment data, TEConomy
utilizes a variety of economic indicator databases
to build a comprehensive picture of a region’s
relative performance and strengths.
•These databases each have specific strengths,
limitations, and reporting contexts –the various
narratives of Dublin’s economic activity shown
across databases informs a broader “consensus”
view on insights that can inform strategic planning.
•Relying on a collection of data sources rather than any
single source allows for a more robust analysis and
helps fill in limitations/gaps in individual datasets.
•Economic databases are often defined by the level
of detailed geography they produce estimates for –
can aggregate up to higher level geographies, but
not straightforward to divide down to more
detailed geographies.
County Level Data: LightCast CEW
MSAs and regional geographies
Zip Code Level Data: TEConomy
estimates using Census Zip Code
Business Patterns + LEHD LODES
Data
Cities and neighborhoods
Detailed Data on Dublin
Establishments from
Dublin Tax Department
Specific groups of local
business establishments
Increasing
level of detail
about local
geographies
11
Examining Dublin’s Economic Landscape Through the Lens
of Various Data Sources
•Using the various data sources, TEConomy’s analysis can “triangulate”
toward strategic insights by looking across the narratives each data source
is showing to generate conclusions.
•Use mainstay county-level CEW data (via LightCast) to look at Greater Columbus
trends to ground the broader economic narrative for the region over the last
decade.
•Use well-verified zip code data from CBP to examine higher level Dublin economic
conditions and employment trends across more aggregate industries to show the
recent economic narrative of the city.
•Use statistical estimation methods to estimate employment in key regional clusters
from the combination of zip code data, county-level data, and other federal data
sources at the zip code level for Dublin as well as other zip code-defined
benchmark regions.
12
•In the wake of the acute impacts of the pandemic, the Columbus MSA’s industry
base has begun to recover, growing by 3.8% from 2020 to 2021.
•While Dublin has also experienced a rebound, growing at 1.4% from 2020 to
2021, its recovery has been more mixed and overshadowed by the emergence of
risks to its established industry base.
•While several of Dublin’s industries aligned with regional clusters were more resilient to
declines experienced during the pandemic, recovery has been uneven and more modest.
•Highlighting the cumulative impact of these dynamics across the entire 2017-2021 period,
most of Dublin’s industries aligned with regional clusters have experienced lower growth
relative to regional and national trends.
•Emerging workforce trends and declining emphasis on large office space locations present
risks to Dublin’s key specialized industry clusters, which have traditionally been anchored
by large employment footprint headquarters and business services operations.
Key Takeaways from Dublin’s Economic Data Update
Each section highlights these trends in further detail, but at a high level several narratives emerge from the data.
13
•Dublin continues to remain a regional leader in traded industry jobs and overall base
of employment relative to other benchmark communities in Greater Columbus, but
has begun to be outpaced by some benchmark communities in growth across key
industry sectors.
•Quality of place indicators remain high and the region is still anchored by several highly specialized
industries with major employment footprints despite flatter recent growth.
•Some evidence of emerging base of small and mid-sized companies in key technology industries
that have the potential to drive future growth.
•Forward-looking perspective presents several risks as well as potential opportunities
against the backdrop of a highly dynamic and growing regional economy.
•The IT workforce remains critical to the city’s competitiveness, but some evidence that Dublin is
losing ground in growing this segment of workers.
•Emergence of healthcare workforce and ongoing demand presents a potential growth opportunity.
•New opportunities emerging for retaining scaling tech businesses and capturing a portion of the
regional electronics industry buildout.
•Risk of disruption to Dublin’s established industry base due to changing workplace models,
socioeconomic and demographic shifts, and increasing competition from other regional
communities.
Key Takeaways from Dublin’s Economic Data Update, cont.
Each section highlights these trends in further detail, but at a high level several narratives emerge from the data.
Section 1: Updating Greater Columbus Regional
Industry Cluster Analysis
15
Key Findings from Updates to Columbus’ Regional Industry
Cluster Profile
•The pandemic caused significant declines in the Greater Columbus economy in 2020,
which led to a cumulative increase of just 0.3% in employment over the 2017-2021 time
period.
•However, the region showed evidence of a significant recovery over the 2020-2021
period, nearly matching national job growth rates across the entire private sector.
•Several industry clusters such as Freight Transportation, Distribution, & Logistics as well as Creative & Design
Industries significantly outpaced recent national growth in the last year.
•Other major traded clusters such as Finance & Insurance, Medical Biosciences & Healthcare Services, IT &
Computer Services, and R&D & Engineering Services have not recovered as quickly as the nation.
•The impact of the pandemic was felt across many segments of the economy, although
many industry clusters experienced stronger growth in the 2020-2021 period than the
2017-2020 period.
•Three clusters (Freight Transportation, Distribution & Logistics; Tourism, Entertainment, and Arts; and Creative
& Design Industries) grew at a faster rate than the average of all industries over the most recent one-year
period.
16
Key Findings from Updates to Columbus’ Regional Industry
Cluster Profile (cont.)
•Despite the impacts of the pandemic, the Greater Columbus region has maintained
highly specialized industry footprints in several clusters including:
•Freight Transportation, Distribution, and Logistics (106k employees, 10.5% average annual growth 2017-2021)
•Finance and Insurance (59k employees, -0.6% average annual growth 2017-2021)
•Corporate HQs/Managing Offices (37k employees, 0.0% average annual growth 2017-2021)
•Automotive Manufacturing (14k employees, -2.1% average annual growth 2017-2021)
•TEConomy continues to track the evolution of the industry base, and examined
whether any additional regional clusters have begun to emerge:
•The Instrumentation & Electronic Products Manufacturing cluster is now included in analyses to establish
performance in this area prior to completion of the Intel semiconductor plant.
•While not yet a driver of significant regional activity, this cluster and its suppliers are expected to play an
increasingly important role in the Greater Columbus Region’s future economic trajectory.
17
TEConomy’s Approach to Identifying Industry Clusters
•Focus on Region’s “Traded” Industries:
•Traded industries bring new wealth/income into the region by serving markets reaching beyond
Greater Columbus’ and Dublin’s own residents and businesses.
•Defining Industry Clusters:
•Tailor definition of industry clusters to how industries in each regional economy relate to one
another:
•Some industry clusters share a common market that they serve.
•Others are based more on shared “know-how” such as in life sciences or IT.
•Identify Clusters of Comparative Advantage/Strength:
•Examine industries at most detailed levels; enables understanding specific activities and targeting
based on size, concentration/specialization and recent trends.
•Consider regional supply chain relationships.
•Refine analysis based upon specific activities of leading firms leveraging corporate databases,
company websites, and direct outreach to understand products, services, applied technologies.
18
*Note: Employment trends for 2 clusters—Corporate HQs and IT & Computer Services—are from 2012-17 due to the reclassification of a large regional
employer from 2011-12.
Location quotients shown in bold font represent “specialized” industry concentrations greater than or equal to 1.20.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics, QCEW data via Lightcast data release 2022.4.
Greater Columbus Industry
Clusters Estab., 2021 Empl., 2021
Location
Quotient,
2021
Greater Columbus
Avg. Annual Employment Change
U.S.
Avg. Annual Employment Change
2010-
17*2017-20 2020-21 2017-21 2010-
17*2017-20 2020-21 2017-21
Total Private Sector 52,717 873,702 1.00 2.7%-0.8%3.8%0.3%2.2%-1.2%4.1%0.1%
Freight Transportation, Distribution, &
Logistics 4,577 106,109 1.47 2.8%10.1%8.9%10.5%2.3%1.6%4.7%2.4%
Finance & Insurance 3,312 58,873 1.35 1.9%0.2%-3.0%-0.6%1.1%0.8%1.7%1.0%
Medical Biosciences and Healthcare
Services 1,237 52,717 0.90 4.6%-0.6%0.8%-0.3%1.8%1.4%1.8%1.5%
Residential Healthcare Services 1,014 37,723 1.17 2.0%-0.5%-3.0%-1.1%1.8%-0.4%-3.5%-1.1%
Corporate HQs/Managing Offices 443 36,925 2.21 3.4%-0.1%0.1%0.0%2.7%0.6%1.1%0.7%
IT & Computer Services 3,166 20,740 0.82 1.6%0.0%2.2%0.5%5.8%4.4%6.1%5.1%
Business Support Services 2,036 20,304 0.93 1.6%-1.0%-1.2%-1.0%3.9%0.9%4.2%1.7%
Tourism, Entertainment, and Arts 850 14,708 0.70 4.5%-8.1%9.1%-4.4%2.3%-9.0%11.9%-4.6%
Automotive Manufacturing 98 13,636 1.43 0.0%-2.9%0.4%-2.1%4.8%-2.3%6.9%-0.1%
R&D & Engineering Services 755 11,671 0.93 1.1%0.1%2.0%0.6%0.7%2.0%3.2%2.4%
Creative & Design Industries 881 6,754 1.08 -0.3%-1.8%4.9%-0.2%2.7%-2.5%2.8%-1.2%
Instrumentation & Electronic Products
Manufacturing 91 3,693 0.51 1.6%-2.4%-12.4%-4.7%-0.6%0.4%-0.6%0.1%
The Greater Columbus Region Remains a Hub for Several
Large and Specialized Industry Clusters Through 2021
Summary Employment Metrics for Greater Columbus Regional Industry Clusters, 2010-2021
The Columbus region has maintained high specializations in Corporate HQs/Managing Offices, Automotive Manufacturing, Finance and Insurance, and
Freight TDL, though employment growth in these clusters generally lags the nation in the most recent period
19
How to Read Industry Cluster Profiles
Vertical axis shows the industry
cluster’s Location Quotient, a measure
identifying the average concentration of
industry employment in a region
relative to national trends over the
same time period
Horizontal axis shows the industry
cluster’s employment growth over
the time period
Bubble size indicates an industry cluster’s
Employment Size at the reference time period
Vertical axis crosses at growth
of 0%
Horizontal axis crosses at
neutral index value of 1.0
An index value > 1.2 indicates
that an industry cluster is
highly specialized in its
employment footprint for the
region
An index value < 1.0 indicates
that an industry cluster is
relatively under-concentrated
in its employment footprint for
the region
A connected set of bubbles shows the latest
position of an industry cluster’s profile as well
as its movement over time:
Earliest period
Latest period
20
Position of Greater Columbus Industry Clusters Across the 2017-2020 & 2020-2021 Time Periods
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics, QCEW data via Lightcast data release 2022.4.
•While most of the region’s specializations
have remained largely unchanged,
employment declines associated with the
Covid-19 pandemic in 2020 continue to
affect most clusters.
•Tourism, Entertainment & Arts experienced
stronger recent growth than in the pre-
pandemic period
•Medical Biosciences & Healthcare Services
and Automotive Manufacturing were hit
hard by the pandemic but show signs of
turning around in the recent period
x = -12%
x = -8%
21
Several of Columbus’ Major Industry Clusters Experience Higher Growth in
the Most Recent Year Compared to the Period Ending in 2020, Although Some
Sectors Have Not Yet Rebounded From Pandemic Impacts
*Note: Employment trends for 2 clusters—Corporate HQs and IT & Computer Services—are from 2012-17 due to the reclassification of a large regional
employer from 2011-12.
**Smaller manufacturing clusters that were not added to the set of regional clusters in this update experienced similar decli nes over the period
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics, QCEW data via Lightcast data release 2022.4.
•At the end of 2021, eight
industry clusters are
experiencing flat or positive
growth
•However, only three clusters
experienced employment
growth greater than that
across all industries
Columbus MSA Employment Change by Industry Cluster
Recap of Industry Targeting Analysis Decision Tree
Approach
22
Is the industry
a local
specialization?
From Year A –
Year N did the
local industry
grow?
Did local
industry gain
competitive
share from Year
A –Year N
Current
Strengths
Current
Opportunity
Higher Priority
Retention
Targets
Prospects limited
due to external
trends, but out-
performing the
U.S.
Lower Priority
Retention
Targets
Prospects limited
due to local
weaknesses
Emerging
Strengths
Prospects
limited due to
weak base and
external trends
Prospects
limited overall
Universe of Industry
Sectors in the Region
LQ Analysis
YES
Current Specialization
LQ Analysis
NO
Not Current Specialization
Growth Analysis
YES
Employment Growth
Growth Analysis
NO
No Employment Growth
Growth Analysis
YES
Employment Growth
Growth Analysis
NO
No Employment Growth
Shift Share
YES
(Strong
Performer)
Shift Share
NO
(Lagging
Performer)
Shift Share
YES
(Constrained
Performer)
Shift Share
NO
(Poor
Performer)
Shift Share
YES
(Strong
Performer)
Shift Share
NO
(Lagging
Performer)
Shift Share
YES
(Constrained
Performer)
Shift Share
NO
(Poor
Performer)
Emerging
Opportunity
With average employment
growth increasing in the year
following impacts of the Covid-
19 pandemic, the industry
targeting approach is applied to
the full 2017-2021 period. Some
industry clusters have shown
signs of significant recovery,
while others continue to show a
diminished competitive position
relative to national trends.
Continued analysis of cluster
performance will consider the
context of national recovery.
23
Summary of Greater Columbus Industry Cluster Analysis
Regional Cluster Estab.,
2021
Empl.,
2021
Estab.
Change,
2017-
2021
Empl.
Change,
2017-
2021
Average
Wage
Change,
2017-
2021
GRP
Change,
2017-
2021
Cluster Storyline, 2017-2021
Pre-Pandemic
Cluster Position
(Targeting
Decision Tree,
2017-2019)
Recent
Cluster
Growth
(2020-2021)
Total Private Sector 52,717 873,702 13.7%1.3%19.4%20.0%--
Freight Transportation,
Distribution, & Logistics 4,577 106,109 11.5%41.9%7.7%32.2%
Ongoing specialization and continuing growth levels continuing beyond
the acute impacts of the pandemic point to the cluster remaining a
major economic driver for the region
Current Strength Above average,
exceeds U.S.
Finance & Insurance 3,312 58,873 5.8%-2.5%20.3%20.1%Major employment base for the region, but potential weakening of
competitive position in recent years Current Strength Declining, lags
U.S.
Medical Biosciences and
Healthcare Services 1,237 52,717 46.8%-1.0%14.9%28.6%
Cluster continuing to show the effects of the pandemic on overall
employment, but ongoing growth being driven by expansion of new
medical facilities across the region
Emerging Strength Below average,
lags U.S.
Residential Healthcare
Services 1,014 37,723 8.4%-4.3%22.8%11.7%Continuing to show impacts of pandemic on workforce, but represents
major emerging need for aging populations
Emerging
Opportunity
Declining,
exceeds U.S.
Corporate
Headquarters/Managing
Offices
443 36,925 16.2%-0.1%17.2%15.3%
Remains a large, specialized industry for the region that anchors
economic activity in the region, but risk of disruption from changing
workforce trends in the wake of pandemic
Current Strength Below average,
lags U.S.
IT & Computer Services 3,166 20,740 46.4%2.1%23.1%30.5%
Lack of regional specialization and lower growth relative to the nation
remain challenges, but some evidence of scale-up business activity and
investment suggest future opportunities
Emerging
Opportunity
Below average,
lags U.S.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics, QCEW data via Lightcast data
release 2022.4.
Cluster Growth Greater Than U.S.
Cluster Growth Positive, But Not Greater Than Overall U.S.
Cluster Decline
24
Summary of Greater Columbus Industry Cluster Analysis
Regional Cluster Estab.,
2021
Empl.,
2021
Estab.
Change,
2017-
2021
Empl.
Change,
2017-
2021
Average
Wage
Change,
2017-
2021
GRP
Change,
2017-
2021
Cluster Storyline, 2017-2021
Pre-Pandemic
Cluster Position
(Targeting
Decision Tree,
2017-2019)
Recent
Cluster
Growth
(2020-2021)
Total Private Sector 52,717 873,702 13.7%1.3%19.4%20.0%--
Business Support Services 2,036 20,304 18.8%-4.1%27.5%12.6%
Legacy industry cluster with uncertain future in wake of pandemic shifts
in workplace models; increasing establishments with decreasing
employment continue to suggest adaption or startup emergence
Emerging
Opportunity
Declining, lags
U.S.
Tourism, Entertainment,
and Arts 850 14,708 15.1%-17.5%25.1%-10.5%Some improvement from major declines experienced as a result of
pandemic impacts, but recovery ongoing Emerging Strength Above average,
lags U.S.
Automotive
Manufacturing 98 13,636 -4.6%-8.4%1.5%3.4%Declining employment footprint at small set of large operations even
before pandemic impacts despite overall specialization
Lower Priority
Retention Target
Below average,
lags U.S.
R&D & Engineering
Services 755 11,671 14.8%2.3%10.6%12.5%
Increasing establishments with middling growth suggests some
diversification may be occurring, potential for expansion to serve
specialized electronics and materials supply chain growth
Emerging Strength Below average,
lags U.S.
Creative & Design
Industries 881 6,754 21.9%-0.8%20.4%3.7%
Higher establishment and wage growth with a smaller and declining
industry base indicate specialized service providers have had success;
however, not easy to scale for future growth
Limited Prospects Above average,
exceeds U.S.
Instrumentation &
Electronic Products
Manufacturing
91 3,693 0.0%-18.8%9.3%-5.3%
Employment declines and flat establishment growth demonstrate weak
comparative position in an industry currently, but new regional
manufacturing operations represent paradigm shift in industry base
Limited Prospects Below average,
lags U.S.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics, QCEW data via Lightcast data
release 2022.4.
Cluster Growth Greater Than U.S.
Cluster Growth Positive, But Not Greater Than Overall U.S.
Cluster Decline
Section 2: Updates to Dublin’s Economic
Performance and Workforce Data
Section 2.1: Updates to Dublin’s Industry Clusters and
Business Dynamics
27
Key Findings from Dublin’s Industry Cluster Profile and
Business Dynamics Update
•Pandemic-related employment declines in 2020 continue to have impacts on the local
economy’s growth rates despite widespread improvement in 2021.
•From 2017 to 2021, Dublin’s total employment base grew by an estimated 1.2% compared to 9.3%
in the Greater Columbus region and 8.6% nationally.
•Several of Dublin’s industries aligned with regional clusters were more resilient to
declines experienced during the pandemic, but recovery has been modest.
•Even in clusters where recent positive growth has offset pandemic impacts, Dublin’s recent growth
has largely been outpaced by the region and the nation in 2021.
•In spite of recent lackluster growth trends, Dublin continues to host a set of sizeable
and highly specialized industry clusters that drive its local economy:
•Corporate HQ/Managing Offices (4.5k employees)
•Finance and Insurance (4.2k employees)
•IT & Computer Services (3.9k employees, 2.7% growth 2020-21)
•Business Support Services (2.9k employees)
•R&D & Engineering services (1.4k employees)
28
Key Findings from Dublin’s Industry Cluster Profile and
Business Dynamics Update (cont.)
•Trends in total Dublin business dynamics show the city continues to outpace the
broader Columbus region in its overall establishment growth trend with some signs of
business dynamism:
•Mix of industry sectors represented in business establishments has remained fairly consistent over
the last decade.
•Some evidence that small businesses are gaining in their share of overall establishments over time.
•Based on estimates derived from the city’s tax department data, Dublin business formation rates
appear to remain well above county, state, and national levels despite a sharp decline after 2016.
•Several large employment industry clusters in Dublin appear to be at significant risk of
disruptive impacts in coming years given uncertainty around trends in remote and
virtual work and declining demand for office space development.
•However, these risks may be offset by expanding healthcare industry cluster and broader growth
impacts of new regional semiconductor manufacturing operations if Dublin can position itself
competitively in these spaces.
29
Note: Automotive Manufacturing is not shown here due to limited size/presence in Dublin.
Location quotients shown in bold font represent “specialized” industry concentrations greater than or equal to 1.20.
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017; QCEW via Lightcast data release 2022.4
Summary Employment Metrics for Dublin Across Regional
Industry Clusters
Dublin Industry Clusters Empl., 2021
Location
Quotient,
2021
Dublin
Avg. Annual Employment Change
U.S.
Avg. Annual Employment Change
2014-17 2017-20 2020-21 2017-21 2014-17 2017-20 2020-21 2017-21
Total, All Industries 60,455 1.00 -0.1%0.0%1.4%0.3%2.0%-1.2%4.1%0.1%
Business Support Services 2,878 2.31 -0.9%0.5%-0.3%0.3%3.5%0.9%4.2%1.7%
Corporate HQs/Managing Offices 4,481 2.87 -5.0%6.4%-1.3%4.4%1.9%0.6%1.1%0.7%
Creative & Design Industries 791 2.08 4.1%-5.9%2.4%-3.9%2.1%-2.5%2.8%-1.2%
Finance & Insurance 4,179 1.42 -11.2%2.5%-4.5%0.7%1.6%0.8%1.7%1.0%
Freight Transportation, Dist., &
Logistics 2,903 0.68 4.5%-5.2%0.4%-3.8%2.1%1.6%4.7%2.4%
IT & Computer Services 3,851 2.30 6.0%-3.9%2.7%-2.3%5.5%4.4%6.1%5.1%
Medical Biosciences and Healthcare
Services 2,955 0.72 -0.1%-1.4%0.0%-1.0%2.6%1.4%1.8%1.5%
R&D & Engineering Services 1,373 1.68 6.2%-5.4%-0.4%-4.1%-0.3%2.0%3.2%2.4%
Residential Healthcare Services 1,150 0.54 -3.2%9.2%1.6%7.4%1.6%-0.4%-3.5%-1.1%
Tourism, Entertainment, and Arts 1,295 0.87 0.7%-1.8%4.4%-0.3%2.3%-9.0%11.9%-4.6%
Dublin’s Regional Industry Clusters Were More Resilient to
Declines Experienced During the Pandemic in 2020, but Recent
Growth of These Industries in 2021 Was Relatively Flat
City of Dublin Employment by Industry Cluster, 2010-2021
•Recovery in industry clusters has
been limited: employment in key
industries declined by 0.2% from
2020 to 2021, while growth for
all other industries was 2.6% over
the same period.
•The share of total Dublin
employment comprised by the
industry clusters fell from 44% in
2020 to 43% in 2021.
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data for ZIP codes 43016, 43017
31
Most Dublin Clusters Have Experienced Lower Growth than
Regional and National Trends Over the 2017-2021 Time Period
•Both Residential Healthcare
Services and Corporate
HQs/Managing Offices
outpaced regional and
national growth while other
clusters lagged.
Regional Employment Trends Among the Industry Clusters, 2017-21
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data; QCEW via Lightcast data release 2022.4
32
Growth Rates in Several Clusters Suggest That Initial Recovery From
Pandemic Impacts Has Been Limited, Although Specializations Remain
Similar to Pre-Pandemic Years
Position of City of Dublin Industry Clusters, 2021
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
33
Employment Growth in Most Industry Clusters has Rebounded After the
Pandemic Impacts of 2020, Though Growth in Many Key Clusters Lags That
of Regional Average
•Several of the city’s clusters fared
better than average when
compared to Dublin’s total private
sector declines between 2020 and
2021:
•Tourism, Entertainment, and Arts
•IT & Computer Services
•Creative & Design Industries
•Residential Healthcare Services
•Freight Transportation, Distribution,
and Logistics also grew but at a
slower than average pace.
Dublin Employment Change by Industry Cluster
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
34
Job Change in Broad Industry Sectors, 2020-2021
Several other key industries, like Professional, Scientific, and Technical Services and Wholesale Trade experienced lower growth rates.
Broad Industry Sectors Traded Sector?Presence of Regional Clusters Dublin, 2020-21 Columbus MSA, 2020-21
Health Care and Social Assistance Medical Biosci. and Healthcare Svcs; Residential Healthcare Svcs 433 (5.1%)2,711 (2.0%)
Professional, Scientific, and
Technical Services yes Business Support Svcs; Creative & Design Industries; Freight TDL; IT &
Computer Svcs; R&D & Engineering Svcs 153 (1.8%)2,257 (3.7%)
Administrative and Support and
Waste Management and
Remediation Services
Business Support Svcs; Freight TDL 296 (4.3%)2,587 (3.9%)
Retail Trade Creative & Design Industries -23 (-0.3%)3,001 (3.1%)
Accommodation and Food Services Tourism, Entertainment, and Arts 145 (3.2%)7,225 (9.4%)
Management of Companies and
Enterprises yes Corporate HQs/Managing Offices -59 (-1.3%)37 (0.1%)
Finance and Insurance yes Finance & Insurance -195 (-4.5%)-1,823 (-3.0%)
Information yes IT & Computer Services; Tourism, Entertainment, and Arts 33 (0.9%)112 (0.8%)
Wholesale Trade yes Freight TDL; Medical Biosci. and Healthcare Svcs 41 (1.3%)82 (0.2%)
Educational Services Creative & Design Industries 39 (1.8%)430 (3.2%)
Construction 45 (3.8%)1,241 (3.0%)
Arts, Entertainment, and
Recreation Tourism, Entertainment, and Arts 61 (5.2%)1,389 (11.4%)
Manufacturing yes Medical Biosci. and Healthcare Svcs 6 (0.6%)2,143 (3.1%)
Transportation and Warehousing yes Freight TDL 57 (7.9%)7,904 (10.8%)
Specific Industries Within Dublin That Show Strongest Growth From 2020
Include Transportation and Warehousing; Health Care and Social
Assistance; and Arts, Entertainment, and Recreation
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data; QCEW via Lightcast data release 2022.4
35
Summary of Dublin Industry Cluster Analysis
Regional Cluster Empl.,
2021
% of
Columbus
MSA
Empl.,
2021
Empl.
Change,
2017-
2021
Cluster Storyline, 2017-2021
Pre-Pandemic
Cluster
Position
(Targeting
Decision Tree,
2017-2019)
Recent Cluster
Growth (2020-
2021)
Total Private Sector 60,455 6.3%1.2%--
Business Support
Services 2,878 12.4%1.1%Highly specialized employment base for Dublin, but ongoing declines and reliance
on large footprint office spaces represents significant risk to long term growth
Lower Priority
Retention Target
Below average,
declining faster
than Cbus MSA
Corporate
HQs/Managing Offices 4,481 12.5%17.6%
Cluster remains highly specialized in the region, although post-pandemic job
declines amidst a broader national expansion of remote/virtual work may be a
warning signal for the city given the outsized employment concentration
Current
Strength
Below average,
declining faster
than Cbus MSA
Creative & Design
Industries 791 15.7%-15.6%Cluster experienced a fairly high rate of job loss due to the pandemic, and outlook
remains negative despite some recent improvement
Lower Priority
Retention Target
Above average,
growing slower
than Cbus MSA
Finance & Insurance 4,179 5.9%2.7%
Remains a high employment and highly specialized cluster in Dublin; positive
growth into 2020 offset somewhat by declines in 2021, shares similar risk of
disruption from remote work trends
Current
Strength
Below average,
declining faster
than Cbus MSA
Cluster Growth Greater Than U.S.
Cluster Growth Positive, But Not Greater Than Overall U.S.
Cluster Decline
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
36
Summary of Dublin Industry Cluster Analysis (2)
Regional Cluster Empl.,
2021
% of
Columbus
MSA
Empl.,
2021
Empl.
Change,
2017-2021
Cluster Storyline, 2017-2021
Pre-Pandemic
Cluster Position
(Targeting
Decision Tree,
2017-2019)
Recent Cluster
Growth (2020-
2021)
Total Private Sector 60,455 6.3%1.2%--
Freight Transportation,
Dist., & Logistics 2,903 3.0%-15.3%
Pandemic losses have not yet been offset by a return to growth; cluster remains
unspecialized, and the region remains at a low share of the cluster footprint across
the broader Columbus MSA
Limited
Prospects
Below average,
growing slower
than Cbus MSA
IT & Computer Services 3,851 18.5%-9.4%
Strong growth in 2021 has offset some of the declines faced during the pandemic,
but growth still falls short of pre-pandemic rates; high demand across the region for
workforce may present a challenge for competitive position
Lower Priority
Retention Target
Above average,
growing slower
than Cbus MSA
Medical Biosciences &
Healthcare Services 2,955 4.3%-4.1%
Recent top line growth has been limited after pandemic-related declines, but
buildout of new medical facilities complexes has increased healthcare workforce
and created significant demand for further employment growth that could drive a
new industry strength for the city
Limited
Prospects
Below average,
growing slower
than Cbus MSA
R&D & Engineering
Services 1,373 11.8%-16.5%
Employment remains specialized in the region despite recent declines, though
growth potential is high with ongoing proximity to transportation research and
manufacturing as well as imminent growth of electronics supply chain industry in
the region
Lower Priority
Retention Target
Below average,
declining faster
than Cbus MSA
Tourism, Ent., & Arts 1,295 9.0%-1.1%Recent growth suggests strong recovery in the post-pandemic period Limited
Prospects
Above average,
growing slower
than Cbus MSA
Cluster Growth Greater Than U.S.
Cluster Growth Positive, But Not Greater Than Overall U.S.
Cluster Decline
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
37
Measuring Dublin’s Establishment-Level Business
Dynamics Trends
•In addition to higher level employment trends, it is also important to track establishment level
business dynamics patterns that give another perspective on the vibrancy of Dublin’s business
environment.
•Helps give indication of whether Dublin is attracting and retaining a robust ecosystem of business
operations beyond just employment footprints.
•New business creation is important for any local economy. However, nationally, a small share
of firms account for a disproportionate share of economic output and employment. These
firms tend to be in traded industries, which are highly aligned with the regional industry clusters
emphasized in Dublin’s economic development strategy.
•Creating positive business dynamics patterns with respect to these industries is key to generating long
term sustainable economic growth.
•Establishment data sources like County Business Patterns often do not provide detailed
business dynamism measures at the zip code level, but overall patterns can give an indication
of how Dublin is growing its base of businesses.
•Overall trends in high level industry sectors used to show how the mix of businesses is evolving.
•Information from the city’s tax department on new business filings can be used to approximate a
measure of new business formation for comparison to regional trends.
•Note: data limited to 2010-2020 time period of latest available establishment estimates from CBP.
38
Dublin’s Base of Business
Establishments Has
Continued to Expand Over
the Past Decade,
Outpacing Regional
Growth
•Despite plateau in growth
from 2017-2018, the city
continues to outpace the
broader Columbus region
in its overall establishment
growth trend.
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
39
Dublin Business Establishments Have Largely Maintained a Consistent Mix
Over Time, Grounded by Professional, Healthcare, & Financial Services as
Well as Retail & Entertainment Businesses
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
40
Some Evidence
for an Expanding
Share of Small
Businesses in
Dublin Over Time
•Businesses of 5 or fewer
employees made up 48%
of all establishments in
2010 compared to 50% in
2017 and 51% in 2020.
•Several key mid-sized
business segments have
also increased in share
over time.
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
41
Small Businesses
Make Up a High
Volume of Overall
Establishments in
Several of Dublin’s
Key Industry Sectors
in 2020
•Small businesses with fewer than 10
employees make up a
disproportionate share of
establishments in:
•Professional, scientific, and technical
services
•Finance and insurance
•Administrative and support services
•Real estate and rental leasing
•However, these establishments still
tend to collectively drive low
employment shares relative to large
anchor companies in these sectors.
Source: TEConomy analysis of U.S. Census Bureau’s County Business Patterns data
42
Dublin’s New Business Establishment Formation Rates Appear to
Exceed Broader Regional Trends Despite a Drop Off in Activity
Since 2016
•New business formation rates for
Dublin were estimated from city tax
department data on new business
filings:
•Includes all businesses with greater
than one employee in city data;
TEConomy cannot verify the
coverage of tax department data
relative to other data sources.
•Census data on new business
formation available for Franklin
county as well the state and nation.
•Dublin business formation rates
experienced a sharp decline after
2016, but remains well above
county, state, and national business
formation rates.
Source: TEConomy analysis of U.S. Census Bureau’s Business Dynamics Statistics; analysis of Dublin Tax Dept. data
Section 2.2: Regional Benchmarking of Industry
Clusters
44
Key Findings from Dublin’s Industry Cluster Position
Benchmarking Update
•Dublin remains a leader in the level of traded industry jobs and overall base of
employment relative to benchmark communities in the region, but has lost ground in
terms of the proportion of jobs in traded industries.
•Dublin’s recent employment growth rates are fairly flat, while other benchmark
communities have gained ground since pandemic declines.
•Several key regional clusters represent competitive strengths for Dublin:
•Business Support Services and IT & Computer Services, where Dublin has large and specialized
bases of employment.
•R&D and Engineering Services, where Dublin remains a high-volume employer, specialized leader
amongst benchmark communities.
•Medical Biosciences and Healthcare Services, where Dublin remains a leading high-volume
employer amongst benchmark communities.
•While still a specialized industry, Dublin’s recent performance in Corporate
HQ/Managing Offices suggests weaker recovery in the 2020-2021 period.
45
Intra-Regional Benchmark Communities for Assessment
•Benchmarking analysis was originally
developed to better understand how
Dublin is positioned and performing
relative to selected comparison
communities within the Greater Columbus
region.
•Twelve benchmark communities were
identified in the previous studies for
comparative analysis across industry
cluster employment trends and positioning
in “quality of life” industries.
Benchmark Region Zip Codes Included
in Region
Bexley 43209
Downtown Columbus 43215
Easton 43219
Grandview Yard 43212
Hilliard 43206
New Albany 43054
Olentangy 43035, 43065, 43240
Polaris 43240
Polaris East (North
Westerville)43082
Upper Arlington 43220, 43221
Westerville 43081, 43082, 43086
Worthington 43085
46
•Continuing the trends
observed in earlier reports,
Dublin remains a leader in
overall base employment
relative to benchmark
communities, but the city’s
proportion of jobs in
traded sectors has fallen
below that of several other
regions.
*Traded industries concentrate locally but sell products or services across geographic regions and in the global market as
opposed to non-traded industries, which are driven more by providing goods and services to local populations. These firms
account for a disproportionate share of economic output and employment nationally.
Source: TEConomy analysis of Census County Business Patterns data
Employment Composition of Dublin and Regional Benchmarks in 2021
Dublin Remains a Regional Leader
In Traded Sector Employment
47
With Some Exceptions, Benchmark Regions Have Largely
Remained Along Similar Growth Trajectories; Most Regions Have
Experienced a Rebound in 2020-2021 Growth Rates After the
Pandemic
Source: TEConomy analysis of Census County Business Patterns data
Dublin’s recent
growth trends
have flattened,
with several
other regions
seeing stronger
growth since
2017.
Total Employment Growth Trends in Dublin and Regional Benchmarks, 2010-2021
48
Total Employment Growth Profiles of Benchmark Regions
Source: TEConomy analysis of Census County Business Patterns data
Dublin experienced a
strong rebound in
average annual
growth in the 2020-
2021 period,
however Dublin’s
recent growth in
total employment
lags that of all
benchmark
communities.
49
Trends in Total Employment Show Signs of Recovery in
Most Communities Following the Pandemic
Source: TEConomy analysis of Census County Business Patterns data
50
Summary of Intra-Regional Benchmark Cluster
Employment Profiles
Regional Cluster Dublin’s Relative Position During 2017-2021 Period
Business Support Services There has been little change in the relative position of communities with a sizable base in this cluster.
New Albany remains the most highly specialized.
Corporate HQ/Managing Offices Dublin’s employment declines from 2020-2021 are in line with other sizable communities, although
some have experienced growth in recent years.
Finance & Insurance With lower specialization and recent employment declines, Dublin’s position in this cluster remains
comparatively delicate.
Freight & TDL Aside from Easton, most regions have experienced low specialization and/or weaker growth.
IT & Computer Services Dublin’s strong position has experienced a rebound in 2020-2021 growth, maintaining the city’s
comparative advantages in this cluster.
Medical Biosciences & Healthcare While Downtown Columbus is more highly concentrated than average in this cluster, the other
benchmark communities retain low specializations despite some strong employment growth in the
2020-2021 period.
R&D & Engineering Services Dublin’s specialization in this cluster remains high despite employment declines in the recent periods.
Most benchmark communities have experienced stronger growth in 2020-2021.
51
Business Support Services Cluster Employment in Benchmark
Regions
Source: TEConomy analysis of Census County Business Patterns data
New Albany
remains the most
highly specialized
region in this
cluster, but Dublin
also has a high
specialization.
Dublin’s growth
rates have
remained fairly
steady over time
compared to other
regions.
X = 28% →
52
Benchmark Regions: Growth in Business Support Services
Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
53
Corporate HQ/Managing Offices Cluster Employment in
Benchmark Regions
While Dublin is highly
specialized in this cluster
with a sizable
employment base,
several other regions
have higher location
quotients, and some have
greater employment.
Dublin’s growth over the
2020-21 period is
comparable to several
other regions.
Source: TEConomy analysis of Census County Business Patterns data
X = 61% →
Y = 15-16 ↑
54
Benchmark Regions: Growth in Corporate HQ/Managing
Offices Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
55
Finance and Insurance Cluster Employment in Benchmark
Regions
Dublin remains
specialized in this cluster,
but a majority of the
other regions show
greater specialization.
Dulbin’s job decline from
2020-21 is notable as
other regions with
sizable employment have
experienced slower rates
of decline or outright
growth.
Source: TEConomy analysis of Census County Business Patterns data
56
Benchmark Regions: Growth in Finance and Insurance
Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
57
Freight TDL Cluster Employment in Benchmark Regions
Dublin’s low
concentration in this
cluster is similar to that
of most other regions,
although Dublin’s low
growth from 2020-21 is
weaker than most
others. Easton is the
only region that is
highly specialized in this
cluster, and also retains
the largest employment
base.
Source: TEConomy analysis of Census County Business Patterns data
Benchmark Regions: Growth in Freight TDL Cluster
Employment
Source: TEConomy analysis of Census County Business Patterns data
59
IT and Computer Services Cluster Employment in
Benchmark Regions
Dublin’s specialization
in this cluster has
declined in the recent
periods, although it
remains the only
region to have a
location quotient
above 1.20 and a
sizable employment
base. Positive growth
from 2020-21 is steady
but falls short of other
regions.
Source: TEConomy analysis of Census County Business Patterns data
Benchmark Regions: Growth in IT and Computer
Services Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
61
Medical Biosciences and Healthcare Cluster Employment in
Benchmark Regions
Dublin and
Downtown
Columbus remain
only significant
benchmark
communities in
biosciences space,
though Dublin’s
growth in each
period has lagged
that of Downtown
Columbus.
Source: TEConomy analysis of Census County Business Patterns data
Benchmark Regions: Growth in Medical Biosciences and
Healthcare Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
63
R&D and Engineering Services Cluster Employment in
Benchmark Regions
While Grandview Yard is
the most highly
specialized region in this
cluster, Dublin’s high LQ
and large employment
base make it
comparatively strong.
Dublin’s recent growth
rate suggest an
improvement over
pandemic declines.
Source: TEConomy analysis of Census County Business Patterns data
X = 21% →
Benchmark Regions: Growth in R&D and Engineering
Cluster Employment
Source: TEConomy analysis of Census County Business Patterns data
65
Detailed Summary of Employment Change by Cluster and
Benchmark Community Between 2020 and 2021
Community Total, All
Industries
Business Support
Services
Corporate
Headquarters/M
anaging Offices
Creative & Design
Industries
Finance &
Insurance
Freight
Transportation,
Distribution, &
Logistics
Dublin 816 (1.4%)-9 (-0.3%)-59 (-1.3%)19 (2.4%)-195 (-4.5%)12 (0.4%)
Bexley 111 (1.6%)6 (7.4%)1 (5.1%)6 (12.7%)-9 (-6.1%)12 (3.2%)
Downtown Columbus 2,034 (2.6%)115 (3.4%)41 (0.8%)47 (2.8%)-167 (-1.3%)64 (3.8%)
Easton 1,043 (2.1%)45 (6.3%)1 (0.1%)13 (9.4%)-263 (-2.5%)204 (3.1%)
Grandview Yard 531 (3%)12 (1.9%)-6 (-2.9%)11 (3.1%)243 (8.1%)31 (3.7%)
Hilliard 175 (3%)6 (3.3%)-23 (-2.5%)9 (10.5%)-1 (-0.6%)-3 (-7.6%)
New Albany 621 (3.3%)27 (2%)50 (1.7%)15 (7.2%)0 (0%)-14 (-1%)
Olentangy 764 (1.8%)12 (1.5%)-103 (-1.2%)15 (4%)90 (4.1%)45 (4.6%)
Polaris 503 (2%)34 (19.5%)-18 (-0.2%)9 (7.2%)120 (6.1%)-1 (-0.5%)
Polaris East 809 (3.7%)-7 (-1.3%)152 (7.7%)2 (0.8%)-100 (-2.5%)17 (1.9%)
Upper Arlington 294 (1.6%)11 (2%)-6 (-1.7%)37 (10%)-47 (-4.8%)0 (0%)
Westerville 1,524 (3.1%)80 (5.2%)107 (3.4%)12 (2.8%)-28 (-0.3%)33 (1.9%)
Worthington 621 (3.2%)82 (11.1%)32 (2.9%)43 (10.4%)-44 (-4.8%)49 (6.5%)
Source: TEConomy analysis of Census County Business Patterns data
66
Detailed Summary of Employment Change by Cluster and
Benchmark Community Between 2020 and 2021
Community Total, All
Industries
IT & Computer
Services
Medical
Biosciences and
Healthcare
Services
R&D &
Engineering
Services
Residential
Healthcare
Services
Tourism,
Entertainment,
and Arts
Dublin 816 (1.4%)101 (2.7%)0 (0%)-5 (-0.4%)18 (1.6%)55 (4.4%)
Bexley 111 (1.6%)6 (31.6%)0 (0%)2 (22.5%)-20 (-4.2%)4 (3.5%)
Downtown Columbus 2,034 (2.6%)81 (4.7%)372 (6.5%)22 (2.6%)86 (4.2%)143 (7.8%)
Easton 1,043 (2.1%)41 (7.1%)0 (0%)20 (5.5%)-34 (-4.9%)5 (0.7%)
Grandview Yard 531 (3%)48 (13.2%)70 (10.1%)15 (2.4%)-14 (-4.2%)-3 (-2%)
Hilliard 175 (3%)7 (14.4%)9 (20.8%)0 (0%)38 (9.6%)2 (2.5%)
New Albany 621 (3.3%)1 (0.3%)43 (4.5%)-7 (-3.8%)2 (5.6%)40 (7.8%)
Olentangy 764 (1.8%)9 (0.8%)-4 (-1%)18 (4.1%)140 (34.7%)77 (7%)
Polaris 503 (2%)-18 (-6.3%)5 (8.9%)9 (3.3%)0 (0%)64 (10%)
Polaris East 809 (3.7%)36 (5.6%)54 (18.3%)-3 (-1.6%)117 (24.5%)42 (8.3%)
Upper Arlington 294 (1.6%)0 (0%)17 (4.7%)7 (2.4%)-15 (-1.8%)19 (7.3%)
Westerville 1,524 (3.1%)28 (2.5%)69 (4.1%)5 (0.9%)255 (14.2%)23 (4.6%)
Worthington 621 (3.2%)80 (12.5%)45 (7.3%)65 (20.6%)-29 (-3.2%)6 (4.6%)
Source: TEConomy analysis of Census County Business Patterns data
Section 2.3: Dublin’s Workforce and Talent
Indicators
68
Key Findings from Dublin’s Workforce and Talent Indicators
Update
•Dublin continues to employ a higher proportion of highly skilled workers (generally requiring Bachelor’s and
higher degrees) relative to both the Greater Columbus region and national trends, but this gap has narrowed
since the previous assessment and may reflect broader acceleration of growth across the Greater Columbus
region.
•High demand occupations in the region over the 2017-2021 period include:
•Software developers and other key IT roles, management and business support, education, and healthcare services in the high skills
segment.
•Sales representatives, technicians, administrative support, healthcare support, and computer support in the middle skills segment.
•Customer service and home health and personal care aides in the low skills segment.
•STEM workers in Dublin’s employment base remain highly concentrated in computing and IT occupations, but
Dublin is showing signs of not keeping pace in growing and retaining this critical base of workers.
•Ongoing importance of digital skills, regional market forces, and cross-cutting local demand continue to affirm the need for growing
this workforce segment to meet the needs of all industries and maintain the city’s competitive position.
•Emergence of healthcare industry as a major driver of recent job postings activity confirms the potential of the
new industry cluster as a workforce driver.
•Industries that were hardest hit by pandemic conditions are still exhibiting high demand, highlighting
potential risks to recovery driven by workforce constraints particularly in the service industry.
69
Categorizing Dublin’s Occupation Skills Demand Categories
•Three broad categories of occupations by typical entry-level educational, experience
requirements:
•High-Skilled Occupations: Generally requiring Bachelor’s & Higher degrees
•Middle-Skilled Occupations: Requiring significant education, experience, and/or training beyond
high school but less than a Bachelor’s*, includes:
•High School Diploma + Moderate to Long-Term On-the-job Training
•High School Diploma + Apprenticeship
•Postsecondary non-degree award
•Some College, no degree
•Associate’s Degree
•Low-Skilled Occupations:Generally requiring less than a high school diploma or a diploma and only
short-term training, includes:
•Less than a High School Diploma
•High School Diploma + Short-term On-the-job Training
70
Dublin Continues to Be
Driven by a Highly Skilled
Workforce
•Dublin continues to employ a higher
proportion of high skilled workers
relative to both the Greater Columbus
region and national trends, but this
advantage has begun to diminish over
time.
•Since the last update, the level of high
skills talent has slightly lost share, but it
is unclear if this represents a true
decrease within the employment base
or the impact of remote work on site
location employment.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
Occupational Employment by Skill Levels, 2021
71
•High demand for software
developers and other key
IT roles indicates ongoing
importance of tech talent.
•Management
occupations, business
support, healthcare
services, and education
workers remain in high
demand.
•Nursing and medical
services occupations
continue to represent
potential opportunity to
build healthcare
workforce to serve new
local businesses.
High Skilled, “High Demand” Occupations in Dublin
Represents those occupations where growth has outpaced Dublin’s overall growth since 2017 (1.3%), and outpaced the nation
High Skilled Occupations
(at least 150 employees in 2021)
Dublin 2021
Jobs
Dublin %
Change 2017-
2021
Columbus
MSA %
Change, 2017-
2021
US % Change
2017-2021
Software Developers 1,649 29%29%26%
General and Operations Managers 1,331 60%55%35%
Registered Nurses 1,245 13%6%4%
Management Analysts 634 30%28%17%
Human Resources Specialists 630 50%39%31%
Business Operations Specialists, All Other 495 108%49%69%
Postsecondary Teachers 408 30%-1%-3%
Network and Computer Systems Administrators 284 10%11%-15%
Sales Managers 261 33%28%24%
Medical and Health Services Managers 193 29%17%25%
Secondary School Teachers, Except Special and Career/Technical Education 183 65%26%2%
Graphic Designers 182 9%13%-5%
Software Quality Assurance Analysts and Testers 180 27%28%26%
Administrative Services Managers 154 27%25%21%
Coaches and Scouts 151 6%-11%-13%
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
72
•Sales representatives,
technicians,
administrative support,
healthcare, and
computer support
occupations are driving
demand for middle
skilled workers.
•Heavy presence of
healthcare-related
clinical and business
support roles speaks to
recent growth of this
workforce in the city.
Middle Skilled, “High Demand” Occupations in Dublin
Represents those occupations where growth has outpaced Dublin’s overall growth since 2017 (1.3%), and outpaced the nation
Middle Skilled Occupations
(at least 150 employees in 2021)
Dublin 2021
Jobs
Dublin %
Change 2017-
2021
Columbus
MSA %
Change, 2017-
2021
US % Change
2017-2021
Bookkeeping, Accounting, and Auditing Clerks 908 24%19%-1%
Sales Representatives, Wholesale and Manufacturing, Except Technical and
Scientific Products 813 17%27%-10%
Sales Representatives of Services, Except Advertising, Insurance, Financial
Services, and Travel 744 5%-2%4%
Computer User Support Specialists 633 27%28%7%
Nursing Assistants 540 9%1%-10%
Maintenance and Repair Workers, General 530 22%15%6%
Miscellaneous Assemblers and Fabricators 493 18%12%3%
Heavy and Tractor-Trailer Truck Drivers 442 27%35%9%
Licensed Practical and Licensed Vocational Nurses 344 6%-4%-10%
Billing and Posting Clerks 327 12%3%-9%
Medical Assistants 314 39%23%12%
Automotive Service Technicians and Mechanics 232 17%11%-1%
Preschool Teachers, Except Special Education 213 9%-4%-2%
Computer Network Support Specialists 208 16%12%-5%
Pharmacy Technicians 190 14%11%6%
Teaching Assistants, Except Postsecondary 188 16%21%-6%
Inspectors, Testers, Sorters, Samplers, and Weighers 186 6%15%3%
Web and Digital Interface Designers 157 70%68%34%
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
73
•Rebound in demand for
customer service
occupations throughout
recent recovery from
pandemic is driving
growth in low skilled
occupations.
•Large increase in home
health and personal care
aides reflects potential
expansion of residential
healthcare services and
medical facilities.
Low Skilled, “High Demand” Occupations in Dublin
Represents those occupations where growth has outpaced Dublin’s overall growth since 2017 (1.3%), and outpaced the nation
Low Skilled Occupations
(at least 150 employees in 2021)
Dublin 2021
Jobs
Dublin %
Change 2017-
2021
Columbus
MSA %
Change, 2017-
2021
US % Change
2017-2021
Customer Service Representatives 2,409 11%10%1%
Home Health and Personal Care Aides 1,565 27%11%16%
Cashiers 1,304 11%8%-6%
First-Line Supervisors of Office and Administrative Support Workers 696 10%10%0%
Receptionists and Information Clerks 597 27%16%-2%
Landscaping and Groundskeeping Workers 573 6%-3%-1%
Security Guards 550 20%9%-4%
Cooks, Restaurant 518 20%12%-2%
First-Line Supervisors of Food Preparation and Serving Workers 493 23%16%15%
Cooks, Fast Food 419 155%137%54%
Driver/Sales Workers 352 69%78%13%
Bartenders 215 16%12%-15%
Telemarketers 210 38%22%-28%
First-Line Supervisors of Transportation and Material Moving Workers,
Except Aircraft Cargo Handling Supervisors 193 62%63%39%
First-Line Supervisors of Mechanics, Installers, and Repairers 190 20%14%14%
Property, Real Estate, and Community Association Managers 174 89%64%27%
Cooks, Institution and Cafeteria 168 40%28%-1%
Amusement and Recreation Attendants 157 43%28%-12%
Hosts and Hostesses, Restaurant, Lounge, and Coffee Shop 150 2%-6%-17%
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
74
Further Insights into
the Recovery from
Pandemic Within
Dublin Occupational
Employment from
2020-2021
Occupational Segment
Dublin
Employment,
2021
Change in
High Skills
Employment,
2020-2021
Change in
Middle Skills
Employment,
2020-2021
Change in
Low Skills
Employment,
2020-2021
Sales, Office, & Administrative 15,904 -84 156 -24
Healthcare 6,699 90 123 102
Business & Financial 6,006 312 -54
Food Services 4,684 2 7
Transportation & Materials Moving 4,514 -1 94 -95
Computing & IT 4,395 74 135
Management 4,086 478 13 59
Building & Grounds Services 2,068 7 60
Production 2,000 58 -4
Installation, Maintenance & Repair 1,969 -21 9
Education & Knowledge Workers 1,562 64 20 4
Community, Social Services & Legal 1,347 8 -1 -8
Arts, Entertainment & Media 1,298 -38 21 -16
Engineering & Architecture 1,146 -70 -4
Service Occupations 1,117 0 94
Construction & Extraction 1,089 31 -3
Protective Services 750 23 38
Math & Statistics 218 -1
Scientists 212 -12
Social Science 108 3 0
Scientific Technicians 104 -18 11
Change in Employment in Dublin’s Largest Occupational Segments by Skills Level, 2020-2021
(% change within segment and skills level)
•Recent trends in occupational
employment highlight mixed
recovery from pandemic
workforce declines:
•Modest growth in low-skilled customer
service occupations have not offset large
declines experienced in these segments
from 2019-2020
•Further decline in transportation and
logistics occupations compound
pandemic job losses
•Larger increases in management and
financial services jobs, but smaller
changes throughout other occupational
segments
•Growth in middle skills jobs across
several occupational segments is
potential sign of nascent diversification
of workforce
Note: all cells where 2020-2021 change was greater than 50 employees highlighted; changes of over 200 jobs bolded.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES); TEConomy analysis of Census County Business Patterns data
75
Dublin Continues to Employ
Higher Levels of STEM
Talent Within its Economy
Relative to the Surrounding
Region as well as the Nation
•However, this represents a slight
decline (1%) from Dublin’s
historical shares of STEM talent
(other regions have also remained
relatively unchanged in their
overall STEM shares over time).
STEM Occupational Employment in Dublin as a Share of
Total Industry Employment, 2021
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
76
STEM Employment in
Dublin Remains
Overwhelmingly Focused
in the Computing & IT
Segment, Even Relative to
the Broader Columbus
MSA
•As evidenced by overall
demand for tech talent,
this segment still remains
a critical occupational
category to retain and
grow to enable cross-
cutting strength across
industry clusters.
STEM Occupational Employment in Dublin, 2021
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES); TEConomy analysis of Census
County Business Patterns data
Note: STEM jobs defined by US BLS as science, technology, engineering, and math (STEM) occupations which include computer and mathematical,
architecture and engineering, and life and physical science occupations, as well as managerial and postsecondary teaching occ upations related to
these functional areas and sales occupations requiring scientific or technical knowledge at the postsecondary level.
77
Highlighting the Importance of IT Talent within STEM
Occupations as a Cross-Cutting Enabler of Competitive
Digital Skills Jobs
•Dublin’s large share of computing and IT jobs within
its STEM workforce remains a key competitive
advantage amidst a landscape of increasing
digitization across all industry sectors.
•Brookings’ landmark 2017 study on the increasing
digital skills being integrated across the U.S.
workforce notes that relative to earlier decades “by
2016, the share of jobs requiring high digital skills
had jumped to 23 percent. The share requiring
medium digital skills rose to 48 percent. And in a
huge shift, the share of jobs requiring low digital
skills fell from 56 to 30 percent.”
•Even outside of IT and Computing occupations which
already span multiple industry clusters, many of
Dublin’s leading middle and high skills workforce
segments fall within occupation groups that require
higher levels of digital skills.
Source: Brookings Institute, Digitalization and the American workforce, 2017
Segments where Dublin has large employment footprints
78
Tech Talent Bases Like Dublin’s Continue to be Critical for
Driving Industry Across the Greater Columbus Region
•The Greater Columbus region ranked 31st out of 50 in CBRE’s 2022 Tech
Talent Scorecard, which evaluated the largest markets in the U.S. and
Canada by number of tech talent professionals across 13 metrics.
•Highlights Columbus’ relative importance in this space even when measured against
major coastal hubs, and the role this labor force will continue to play in Dublin’s
growth moving forward.
•The CBRE report emphasizes the role of talent and proximity to leading
companies in further attracting industry:
“Tech clusters with high concentrations of tech talent distinguish the top markets. These
clusters typically form around preeminent universities that tend to invest the most in
innovation and provide a steady flow of new talent for local companies. Tech clusters also
form around leading companies that draw other companies to a region and support an
innovative ecosystem that spawns new entrepreneurs and companies. Tech companies use
these clusters for synergy and competition, thereby accelerating the innovation process.”
•From both a digital skills and industry attraction standpoint, this talent
base continues to play a critical role both within and across industries
(see figure), reaffirming its importance to Dublin’s economic strategy and
growth prospects.Source: CBRE, Scoring Tech Talent 2022
79
Longer Term Trends in IT and
Computing Occupational
Employment Growth Show
That Dublin is Not Keeping
Pace in Growing This Critical
Workforce
•While the city is starting from a
stronger historical base of occupational
employment in computing and IT, it has
not maintained the growth of these
occupations over time relative to the
Greater Columbus Region, the state, or
the nation.
•In addition to aforementioned trends
in digitization, ongoing trends in the
shift towards hybrid and remote work
will continue to have outsized
implications for these occupations
across Dublin’s industry base.
Source: TEConomy’s analysis of U.S. Bureau of Labor Statistics (BLS), Occupational Employment Statistics (OES);
TEConomy analysis of Census County Business Patterns data
IT and Computing Occupational Employment Growth, 2010-2021
80
Using Job Postings to Further Inform Occupational
Employment Demand from Dublin Companies
•In addition to trends in the occupational mix of Dublin’s industry, another perspective of workforce
dynamics leverages job postings data from Lightcast to analyze trends related to key hiring activity by
local companies and the associated skill sets that are in demand from employers.
•Job postings data analyzed covers 2020 through the start of Q4 in 2022 and collates unique job postings from cross-
posted positions across several major websites and recruitment databases
•Leverage more recent postings activity in order to track “real-time” demand
•Only considered postings from companies as opposed to staffing agencies advertising on behalf of others
•Postings activity shows a
recovery from lower postings
volumes in mid-2020
corresponding to recovery from
pandemic.
•Recent downturn in activity since
Q3 2022 is a trend to monitor,
but too soon to assess
implications yet.
Source: Lightcast Job Posting Analytics 2022.4
81
Occupations Represented in
Dublin Job Postings Activity
Show Emphasis on Sales,
Office, & Administrative
Positions, with Further
Demand Driven by
Computing & IT, Healthcare,
& Business
•Large rise in demand for healthcare workers which
aligns with expansion of new healthcare facilities in
Dublin.
•Ongoing demand for retail and administrative staff
in the wake of pandemic declines in these positions.
•Increase in share of positions advertising remote
work from pre-pandemic timeframe (2017-2019)
where 3% of total postings offered remote option
seems to be holding –overall remote positions ~5%
from 2020 through Q4 2022.
•However, postings data may still not fully capture
prevalence of hybrid and other remote work models
accurately so this remains a trend to watch going
forward.
•Broader market indications that remote work may
create “resident” workforces which are not captured
in demand indicators, which track the place of
business employment (i.e., office location) rather
than place of residence –remote workers may tend
to be undercounted.
Occupational Segment
Unique
Postings,
2020-2022
Q4
Ranking
by
Postings
Volume,
2020-
2022 Q4
Ranking
by
Postings
Volume,
2017-
2020
% of Positions
Explicitly
Advertised as
Remote
Average
Number of
Employers
Competing
Leading Occupations Within Segment
(Median Advertised Salary)
Sales, Office, &
Administrative 16,343 1 1 2%51 Retail Sales ($27k), Customer Service Reps
($32k), Sales Reps, Wholesale ($47k)
Computing & IT 9,408 2 2 5%165 Software Developers ($113k)
Healthcare 7,391 3 6 1%17 Registered Nurses ($69k), Clinical Lab
Techs ($36k)
Management 7,080 4 3 3%58 Marketing Managers ($70k),
Medical/Health Services Managers ($50k)
Business & Financial 6,692 5 5 4%59 Management Analysts ($83k)
Food Services 4,204 6 7 0%52 Fast Food & Counter Workers ($27k)
Transportation & Materials
Moving 2,662 7 4 0%19 Truck Drivers ($73k), Stockers & Order
Fillers ($31k)
Building & Grounds Services 2,330 8 12 0%39 Janitors and Cleaners ($28k)
Installation, Maintenance &
Repair 1,935 9 8 0%15 General Maintenance & Repair Workers
($40k)
Arts, Entertainment & Media 1,305 10 11 6%12 Merchandise Displayers ($28k)
Education & Knowledge
Workers 1,285 11 10 0%10 Preschool Teachers ($29k)
Production 1,267 12 14 1%5 Production Workers, All Other ($31k)
Engineering & Architecture 1,251 13 9 2%16 Industrial Engineering Techs ($44l),
Mechanical Engineers ($84k)
Service Occupations 1,087 14 13 0%10 Childcare Workers ($30k)
Math & Statistics 970 15 19 4%40 Data Scientists ($73k)
Community, Social Services &
Legal 797 16 15 3%12 Lawyers ($67k)
Construction & Extraction 597 17 17 0%5 Construction Laborers ($39k)
Protective Services 561 18 16 0%7 Security Guards ($31k)
Scientists & Scientific
Technicians 269 19 18 3%5 Life & Physical Science Techs ($42k)
Source: Lightcast Job Posting Analytics 2022.4
82
In Prior Analysis, Most Industries Generating Job Postings Activity were Aligned with
Regional Clusters with Service Industries Also Exhibiting Demand
Source: TEConomy analysis of Lightcast Job Posting Analytics
2021.3
IT & Computer Services industries generating
the highest level of activity in traded sectors,
followed by Transportation, Distribution, &
Logistics
Dublin Unique Job Postings, 2017-2020 by Detailed Industry
(boxes indicate individual industries, colors indicate alignment
with regional clusters)
83
Source: TEConomy analysis of Lightcast Job
Posting Analytics 2022.4
Dublin Unique Job Postings, 2020-
2022 Q4 by Detailed Industry
(boxes indicate individual
industries, colors indicate
alignment with regional clusters)
In Updated Analysis, Regional Clusters Still Generating Majority of Demand But Healthcare
Postings Rising as Driver of Activity Alongside Other Traded Sectors
Service industries also still exhibiting high
demand, highlighting ongoing workforce
needs to support quality of life industry
sectors
84
Largest Traded Sector
Companies Driving Demand
Focused on Headquarters
Operations, Sales &
Distribution, Healthcare, and
Business/Contract Services
Largest Traded Sector Companies in Job Postings Activity for
Dublin, 2020-2022 Q4
(companies with at least 200 job postings over period)
Company Company Focus Unique Postings,
2020-2022 Q4
Median
Advertised Salary
Cardinal Health Healthcare supplies/logistics 3,339 $95,104
Fiserv Financial services 658 $174,848
Univar Solutions Chemical & ingredient distribution 627 $43,680
Quantum Health Healthcare coordination 584 $49,920
Labcorp Drug Development (formerly
Covance)Biotech contract research 574 $32,128
XPO Logistics Transportation/logistics services 502 $44,800
Sedgwick Claims/insurance services 409 $35,456
Velosio (Microsoft partner)Software support/integration 388 $100,690
IGS Energy Natural gas & electric supplier 362
UnitedHealth Group Healthcare insurance 357 $57,344
Revel IT IT staffing & recruiting (Dublin HQ)339*$117,632
Online Computer Library Center Information services 314 $129,536
York Risk Services Group, Inc. (acquired by
Sedgwick)Claims/insurance services 251 $24,000
SS&C Technologies Financial services 245 $69,888
Bound Tree Medical/Sarnova Emergency medical
supplies/equipment 234 $37,504
Johnson Controls Infrastructure controls &
automation 207 Insufficient data
Sysco Restaurant/food wholesaler 201 $82,176
*Postings volume not necessarily indicative of local company
demand generation given role as IT staffing company
Source: Lightcast Job Posting Analytics 2022.4
•Companies in traded sectors with
high volumes of postings largely
centered around key headquarters
operations in Dublin (Cardinal, OCLC)
or around healthcare and other
business services.
•Continues to highlight reliance on key
employers for generating large volume job
demand as well as business services
workforces that are vulnerable to
disruption (e.g., digital/remote work and
declining need for office space).
•Significant additional job
postings activity generated
from non-traded industries
such as fast food, retail, and
grocery chains in the region as
well as activity in
healthcare/residential
healthcare services.
85
However, Review of Major
Dublin Employers Reveals Many
Others are Generating Job
Demand Across Both Traded &
Non-Traded Sectors
•Postings activity distributed across a
number of sectors, with evidence of
concentrations in:
•Healthcare products & services
•Contract research and engineering services,
with some emphasis in materials science
•IT services & solutions
•Business support & financial services, with
some emphasis in process management
solutions
•Logistics & distribution
•As noted in prior analyses, higher job
postings activity than reported FTE
levels for several large companies can
be an indication of significant turnover
or shift to remote/non-local
workforces.
Company Reported Company FTEs*Unique Postings, 2020-2022 Q4
Cardinal Health, Inc.4,800 3,339
OhioHealth 2,000 1,289
Dublin City Schools 1,951 92
Sedgwick 1,622 409 + 251 York Risk Services
OCLC 750 314
The Wendy’s Company 725 387
Quantum Health 600 584
Fiserv 600 658
Univar Solutions 550 627
Express Scripts 500 4
UnitedHealth 450 357
IGS Energy 450 243
LabCorp 430 574
XPO Logistics 400 502
Epiq 295 17
Smiths Medical 280 88
Covetrus 259 141
Community Choice Financial 250 80
Ashland 250 No postings reported
Sarnova 250 223
WD Partners 226 105
HP Enterprise Group/DXC Technology 225 50
Johnson Controls 209 207
Genpact 200 43
ViaQuest 200 274
Nestle QA Center 190 No postings reported
Veeva Systems 180 No postings reported
Quest Software 180 151
Kinetics Noise Control 165 23
SS&C Technologies 160 245
Northwoods 150 41
Stanley Steemer 150 122
DNV-GL 140 131
Updox 130 118
INEOS 120 52
T-CETRA 120 178
Air Force One 102 No postings reported
Revel IT 100 339**
Selected City of Dublin Top Employers* Companies in Job Postings Activity for Dublin, 2017-2020
*Based on listing from city of Dublin Economic Development Website
**Postings volume not necessarily indicative of local company demand generation
given role as IT staffing company
Source: Lightcast Job Posting Analytics 2022.4
86
Leading Job Titles Listed in
Dublin Postings Activity Show
Recent Demand on
Healthcare & Service
Industries
•Several common needs in demand from local
companies include:
•Customer service staff across a number of
different roles in retail and hospitality industries.
•Evidence of significant demand for
management staff in these industries as
well as frontline workers.
•Software engineers and developers, which
remain the highest volume need in highly skilled
positions.
•Financial & business analysts and project
management personnel.
•Sales, administrative, and other business support
staff.
•Healthcare staff, including clinical, technician, and
care management roles.
Job Titles in Postings*Unique Postings, 2020-
2022 Q4
Number of Employers
Competing
Customer Service Representatives 541 150
Software Engineers 365 84
Housekeepers 347 49
Maintenance Technicians 321 81
Sales Associates 301 107
Business Analysts 235 89
Administrative Assistants 232 110
Retail Sales Associates 230 59
Registered Nurses 215 57
Project Managers 202 75
Financial Analysts 197 74
Servers 194 49
Receptionists 181 67
Bartenders 180 49
Nursing Assistants 177 33
Dishwashers 174 38
Hosts/Hostesses 172 40
Pharmacy Technicians 171 24
Medical Assistants 168 57
Cashiers 164 45
Assistant Managers 154 74
Licensed Practical Nurses 152 42
Accounts Payable Specialists 149 52
Shift Leaders 145 48
Accounts Receivable Specialists 145 41
Store Managers 142 57
Sales Representatives 141 44
Staff Accountants 140 44
CDL-A Truck Drivers 140 59
General Managers 138 55
Full Stack Java Developers 137 59
Delivery Drivers 135 42
Security Engineers 130 29
*Includes all listed job titles with 130 or more postings over time period;
some job titles aggregated across duplicative titles
Source: Lightcast Job Posting Analytics 2022.4
87
Evidence from Job Postings Further Reinforces the Need for
Attracting & Retaining Tech Talent in Dublin to Meet Cross-Cutting
Industry Demand
•Most of activity around tech
talent observed in job postings
in Dublin over the last two years
is generated by professional
and technical services
industries outside of core
information industries most
closely associated with
traditional IT sector, highlighting
ongoing demand by multiple
industries for this talent base.
Source: Lightcast Job Posting Analytics 2022.4
Percentage of Average Monthly Job Postings Activity for Computing and IT
Positions by Industry in Dublin, 2020-2022 Q4
Section 3: Recent Developments in Dublin’s
Industrial Innovation Activity
89
Highlights of Dublin’s Industrial Innovation Activity, 2021-
2022
•Building on the previous analyses, industrial innovation activity
data was updated through latest available 2022 data to include
more recent information.
•Overall innovation activity remains limited, but some evidence of
increasing base of companies generating interest from VC investors.
•Dublin-based companies generated 131 new patents through
2022 since the economic development strategy report last
analyzed industrial innovation activity.
•Patents remain widely distributed across assignees –no primarily
Dublin-based companies had more than 7 patents over the time period.
•Locally-assigned patents across the past year were more focused on
medical supplies technologies than in past assessments, with some
additional presence of biopharmaceutical compounds.
•Total of $16.5M in venture funding invested in 9 Dublin area
companies since 2020 (see details on subsequent slides).
•Total of 6 SBIR grants ($0.8M funding) awarded to 4 Dublin area
companies since 2018 (see details on subsequent slides).
131 new Dublin-assigned patents
$16.5M invested in 9 Dublin
companies
$0.8M SBIR funding to 4 Dublin
companies
90
Dublin Companies Receiving Venture Capital Investment in
2021 through November 2022
Company Company Focus Deal Stage Amount ($M)
Atreon Orthopedics Developer of orthopedic products to aid in repair of injury Early Stage VC 0.3
BridgeFi Developer of a cloud-based lending platform for loan and financing options Early Stage VC Undisclosed
College Aid Pro Developer of college funding tool designed to help advisors deliver college
planning strategies Angel (individual)1.0
DasiSimulations Developer of computational predictive modeling designed for improved patient
outcomes and reduced costs Seed Round 3.4
EzeRX Developer and manufacturer of medical devices for management of curative and
preventive healthcare Seed Round 0.7
FloQast Developer of cloud-based close management software to simplify business
accounting Later Stage VC 110
Glo Developer of a mental training platform intended for youth athletes Early Stage VC Undisclosed
Healthy Roster Developer of sports medicine injury documentation and communication platform Later Stage VC 2.1
IncludeHealth Developer of a digital musculoskeletal platform designed to provide smart fitness
and rehabilitation services and products Later Stage VC 13.7
Koloma Developer of clean energy technology intended to decrease carbon emissions Early Stage VC 66.3
Matrix F.T.Developer of three-dimensional nanofiber scaffolds designed to help clients in the
production of cultivated meat Early Stage VC Undisclosed
Monitored Therapeutics Developer of remote patient management technology designed to provide
treatment of respiratory diseases at home Later Stage VC 4.3
ParaGen Technologies Developer of a synthetic scaffold technology designed for tissue engineering Early Stage VC 4.5
reAlpha Operator of an online digital marketplace technology platform for short-term
rental property investments Seed Round 6.1
RenovoDerm Developer of wound care products designed to enhance tissue regeneration Later Stage VC 0.5
Saama Analytics Developer of an enterprise platform intended to assist medical companies in risk
decisions Later Stage VC 215
Source: PitchBook Data, Inc.
91
Dublin Companies Receiving SBIR Awards in 2021 through
November 2022
Company Company Focus Number of Awards Amount ($)
Asymmetric Technologies
LLC Engineering services in defense and security tech 5 2,819,921
Guild Associates, Inc.Basic biological and materials research, systems manufacturing 5 1,940,574
Novaa Ltd Antenna and RF design (primarily military/defense-related)5 499,000
LSP Technologies, Inc.Laser peening equipment and services 3 849,993
SK Infrared LLC R&D of infrared sensors for military and commercial applications 1 140,000
Source: SIBR.gov
Section 4: Update of Dublin’s Socioeconomic and
Demographic Profile
93
“Quality of Place” Indicators
•In addition to metrics that measure the strength of the local economy and labor force, additional
“quality of place” indicators can often provide insights into competitive advantages in quality of life and
desirability of communities.
•These indicators largely fall into five broad categories:
•Income distribution indicators, which indicate how much wealth resides in a community and how different
socioeconomic segments are changing over time.
•Housing indicators, which indicate the availability and desirability of places for a community’s population to live.
•Education indicators, which, in conjunction with metrics related to education levels of talent and labor force, can
show the availability of highly desirable education infrastructure and resident bases.
•Public infrastructure indicators, which can demonstrate access to and investment in public resources and amenities
which attract residents to a community and improve its desirability.
•Other indicators of community vibrancy related to culture, arts, entertainment, and availability of services.
•The time periods and geographies over which these indicators are available vary widely and introduce
some limitations on what can be measured at hyper local levels.
•For Dublin, only indicators in the first four categories are readily available –the most detailed level at which many
arts and culture indices are estimated at the broader MSA scale.
94
Key Findings from Dublin’s Quality of Place Indicators
Update
•Dublin is showing some signs that it may be nearing an inflection point with respect to
its population demographics, but continues to have a highly educated population and
remains a key commuter workforce destination for the Greater Columbus region.
•Population growth has recently begun to fall behind the broader Columbus region, reflecting aging
resident populations and changing socioeconomic conditions.
•The city has partially offset declines in commuter workforce between 2019 and 2020 more
recently, but has not completely recovered to previous volumes.
•The city continues to reflect a high quality of place through its high-income levels, home
values, and desirable school quality.
•As noted in previous assessments, some of the high wealth and lower affordability demonstrated in
these indicators may have the unintended effect of “crowding out” future workforce attraction and
retention in key technology-based occupations, particularly in light of changing workforce attitudes
and employment models that were accelerated by pandemic conditions.
•Real estate indicators show the city’s stock is retaining value, but a recent assessment
notes that future growth potential is limited because most of Dublin’s developable land
has already been built out.
95
Source: U.S. Census Bureau, Population Estimates.
Region
Avg. Annual
Change,
2010-17
Avg. Annual
Change,
2017-21
City of Dublin 2.2%0.7%
Greater Columbus 1.3%0.8%
Ohio 0.7%0.5%
U.S.0.2%0.2%
Dublin Demographics: Population Growth
•Dublin’s population
growth rate has fallen
slightly behind the region
in recent years, though
still ahead of the nation.
96
Share of Population Ages 25 and Over by Educational Attainment, 2021
Source: U.S. Census Bureau, Decennial Census and American Community Survey.
Region Some College, No
Degree
Associate’s
Degree
Bachelor’s &
Higher
City of Dublin 11.8%3.8%73.2%
Greater Columbus 19.4%7.6%38.4%
Ohio 20.0%8.8%29.7%
U.S.20.0%8.7%33.7%
Dublin Demographics: Educational Attainment
•Dublin maintains its
significantly higher
share of highly
educated residents,
although recent
declines suggest the
gap will narrow
somewhat.
Change in Share of the Population with Bachelor’s Degrees or Higher, 2010-21
Region Avg. Annual
Change, 2010-17
Avg. Annual
Change, 2017-21
City of Dublin 0.49 % pt.-0.25 % pt.
Greater Columbus 0.40 % pt.0.78 % pt.
Ohio 0.44 % pt.0.62 % pt.
U.S.0.43 % pt.0.70 % pt.
97
Source: BLS, Local Area Unemployment Statistics program data; Current Population Survey (National); data are not seasonally
adjusted annual averages.
Region Avg. Annual
Change, 2010-17
Avg. Annual
Change, 2017-21
City of Dublin -0.4 % pt.0.1 % pt.
Greater Columbus -0.7 % pt.0.1 % pt.
Ohio -0.8 % pt.0.0 % pt.
U.S.-1.1 % pt.0.5 % pt.
Dublin Economic Indicators: Unemployment Rates
•The city’s unemployment
rate remains
comparatively low, with a
growth rate far below that
of the nation.
98
*Note: These zip-based total employment estimates include worker categories not estimated in the previous analyses shown in sect ion 2.0 and should only be
used in the context of assessing overall commuting patterns
Source: Lightcast data 2022.4 for zip codes 43016-17
Zip Code 2020 Total
Employees*
2020
Resident
Workers
2020 Net
Commuters
2021 Total
Employees*
2021
Resident
Workers
2021 Net
Commuters
Difference
in Total
Employees,
2020-2021
Difference
in Resident
Workers,
2020-2021
Difference
in Net
Commuters,
2020-2021
43016 22,040 23,149 -1,109 22,738 23,703 -965 698 554 144
43017 41,979 26,026 15,953 43,330 26,713 16,617 1,351 687 664
Total 64,018 49,175 14,844 66,068 50,415 15,652 2,050 1,240 808
Dublin’s Regional Commuting Patterns, 2021
•Despite the ongoing impact of remote work on workplace location, Dublin
continues to serve as a commuting workforce destination for the Greater Columbus
Region.
•However, net commuting volumes remain at lower levels than in prior analyses, indicating that
lasting impacts from shifts in workplace destination patterns that are likely to persist despite
some recovery from declines in 2021.
•Notably, zip code 43016 now displays a net negative commuting trend, indicating a potential
sign of new trends that may affect the larger employment base in zip code 43017.
99Source: Lightcast data 2022.4 for zip codes 43016-17
Dublin’s Regional Commuting Patterns, 2021 (cont.)
•Many of the declines in
commuter volume observed
over the 2019-2020 period
have been partially reversed,
particularly in neighboring zip
codes that showed the largest
impact on workers.
•Outbound commuting similarly
increased in volume relative to
the 2019-2020 period, but the
impact was more concentrated
on adjacent zip codes
potentially reflecting changing
worker preferences for highly
proximate workplaces.
100
Source: U.S. Census Bureau, Decennial Census and American Community Survey.
Region Avg. Annual
Change, 2010-17
Avg. Annual
Change, 2017-21
City of Dublin 2.4%3.3%
Greater Columbus 2.1%5.1%
Ohio 2.2%4.8%
U.S.2.0%5.2%
Dublin Demographics: Per Capita Income
•Per capita income in
Dublin remains high
compared to the Greater
Columbus Region and the
nation.
101
Source: American Community Survey, US Census Bureau
Measure Avg. Annual Change,
2010-17
Avg. Annual Change,
2017-21
Mean Income 2.8%2.6%
Median Income 1.9%3.3%
Dublin Demographics: Mean and Median Household
Incomes
•Long-term income growth
had slowed somewhat due
to the effects of the
pandemic in 2020, but
gains in 2020-21 brought
annual growth back to a
similar level as the
previous period.
•Despite the pandemic,
both mean and median
income continued to
increase through 2021.
102
Dublin Demographics: Household Income Distribution
•Consistent with
previous economic
reports, the household
income distribution in
Dublin continues to
shift towards higher
income brackets.
•This risks “crowding
out” middle income
brackets over time and
impacting perception of
affordability for new
workforces that the city
needs to capture a
share of in order to
grow technology-based
jobs.
Source: American Community Survey, US Census Bureau
103
Source: Neighborhood Scout
Dublin Real Estate Indicators: Home Price Distribution
•Home prices in Dublin
continue to skew
significantly higher
than the Greater
Columbus region,
with little variation
from the previous
analyses.
104
Dublin Real Estate Indicators: Home Sales
Additional real estate insights are
incorporated from the 2022 Housing Study &
Strategy report commissioned by the City of
Dublin:
•About 72% of home sales in Dublin are
single-family detached units, while condos
comprise another 25% of sales.
•Single-family detached homes are also
driving overall price increases, with a
median sales price of at least twice that of
other home types due in part to
significantly larger square footage.
•Homes built between 1980 and 1999
comprise about 58% of home sales,
however homes built in 2000 and later
have higher median sales prices.
•The study also concludes that future
growth potential is limited because most of
Dublin’s developable land has already been
built out.
Breakdown of Home Sales in Study Area (2017 to 2021)
Note: The Study Area as defined in the housing report consists of the City of Dublin as well as peripheral areas that
constitute Census Tract boundaries
Source: 2022 Housing Study & Strategy report prepared by Urban Partners for the City of Dublin
Single Family Sales by Age of Home, Study Area (2017 to 2021)
105Source: American Community Survey, US Census Bureau
Real Estate
Indicator
Dublin,
2010
Dublin,
2021
Columbus,
2010
Columbus,
2021
Median
Home Value $341,600 $415,900 $138,700 $213,600
Housing
Vacancy
Rate
6.1%9.1%14.0%6.9%
Renter
Percentage 33.4%38.3%
Real Estate
Indicator
Dublin Avg.
Annual Change,
2010-17
Dublin Avg.
Annual Change,
2017-21
Columbus Avg.
Annual Change,
2010-17
Columbus Avg.
Annual Change,
2017-21
Median Home Value 1.0%4.1%0.3%7.1%
Housing Vacancy
Rate -0.2 % pt.5.5 % pt.-0.5 % pt.-1.7 % pt.
Dublin Real Estate Indicators: Housing Stock
•Dublin real estate value
has continued to grow,
but housing vacancy
has also increased.
•The Columbus MSA has
experienced stronger
trends in both median
home value and
housing vacancy.
106
Source: National Center for Education Statistics (NCES).
Dublin City
Schools,
2021
Dublin
Change,
2017-21
Franklin
County
Schools,
2021
Franklin
County
Change,
2017-21
Total Students 16,254 3.4%196,630 -0.2%
Classroom Teachers 838 2.9%11,811 10.8%
Student/Teacher
Ratio 19.4 0.1 16.6 -1.9
Total Schools 23 21.1%405 13.2%
Schools per 100k
Population 48 11.6%31 4.8%
Dublin Education Indicators: School System Statistics
•Dublin schools have
performed well with
stronger growth rates
than the Columbus
MSA in three of five
key metrics.
107
*Includes Worthington, Westerville, New Albany, Hilliard, Olentangy, Upper Arlington, and Bexley.
Source: Ohio Department of Education.
Ohio School Report Card
Grades
Dublin City
Schools
Columbus
City Schools
Average of Other
Leading School
Districts in
Region*
Achievement 4.0 2.0 4.6
Progress 5.0 3.0 4.9
Gap Closing (meeting
expectations for vulnerable
students)
5.0 3.0 5.0
Graduation 5.0 1.0 4.3
Early Literacy 3.0 1.0 4.0
Dublin Education Indicators: Ohio School Report Card
Grades, 2021
•Report card data resumed
for the 2021-22 school
year, though the scoring
system has been changed
from letter grades to stars
(out of 5).
•Dublin schools continue
to outperform Columbus
city schools, but
performance against
benchmark regions is
mixed.
108
Source: Ohio Department of Education.
School Characteristics
Dublin City
Schools,
2021
Dublin
Change,
2017-21
Columbus
City Schools,
2021
Columbus
Change,
2017-21
Percent of Teachers
with a Master’s Degree 72.7%-2.0 % pt.64.9%1.6 % pt.
Percent of Funds Spent
on Classroom
Instruction
75.6%1.9 % pt.65.5%0.6 % pt.
Operating Spending
per Pupil $12,846 18.4%$13,971 36.2%
Dublin Education Indicators: Selected School
Characteristics
•Dublin’s relative
growth performance
continues to be
mixed.
•Recent growth in
operating spending
per pupil is strong but
has been overtaken
by Columbus city
schools.
109
Source: American Community Survey, US Census Bureau.
Indicator Type Indicator Dublin
Dublin
Change,
2017-20
Columbus
MSA
Columbus
Change,
2017-20
Transportation
Proportion of
workers whose
travel time to work
is 20 minutes or less
36.6%-1.8 % pt.40.5%-1.0 % pt.
Utilization of public
transport by
population
commuting to work
0.5%-0.03 % pt.1.5%-0.20 % pt.
Connectivity
Percent of
households with
broadband internet
access
97.5%1.8 % pt.89.1%6.49 % pt.
Selected Infrastructure Indicators
•Dublin’s
performance in
key infrastructure
indicators remains
similar, growth
rates suggest the
gap with
Columbus is
closing in some
areas.
Appendix B:
City of Dublin Economic Development Survey
2
Survey elicited 112 responses, with roughly 80% representing the private-
sector businesses critical to Dublin’s economic development success.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: “Private-Sector Leadership” refers to 82 responses from industry leaders, limited to a single response for each company.For Internal Discussion Only –Not for Distribution
3
Roughly half opened their Dublin offices in the 2010’s or later, and most had
fewer than 50 employees.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.For Internal Discussion Only –Not for Distribution
4
Most private sector leaders indicated they hired employees in
2022, with a good mix of “new” and “replacement” workers
•Among the 82 private sector
leaders surveyed:
•63 companies reported at least
one new hire in 2022
•Number of new hires ranged from
1 to 600 employees
•Average: 36 hires
•Median: 7 hires
•These companies combined for
2,281 new hires in 2022 in Dublin
•On average, approximately 38% of
these were “new” employees (867)
vs. replacement employees (1,332)
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
5
Among private sector leaders surveyed, 37% indicated they were now
fully in-person, with more than two-thirds in the office 3+ days per week.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
6
Roughly 90% of leaders surveyed said their employees preferred hybrid
work, with more than half choosing to be in the office 3+ days a week.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
7
Finding employees –as well as retaining them and keeping them engaged
–ranked as the highest workforce challenges among private sector leaders.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Includes all survey responses For Internal Discussion Only –Not for Distribution
8
Dublin’s business environment ranks favorably: fewer than 20% of
respondents felt other Central Ohio areas were more attractive.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Includes all survey responses For Internal Discussion Only –Not for Distribution
9
Barriers most frequently cited as concerns include burdensome regulations,
a lack of affordable housing, and challenges with finding qualified staff.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Includes all survey responses
10
Specific Regulatory Barriers Cited
•“It is very difficult to develop/re-develop commercial
property with Dublin restrictions. Additionally, costs are
prohibitive as well.”
•“Building and zoning are very difficult to work with due to
lack of transparency and providing needed information. It
feels like we are always met with roadblocks instead of
solutions making it difficult to improve buildings.”
•“It is difficult to develop in Dublin because of the design
related requirements and length and difficulty in getting
through the city process”
•“Planning and zoning.”
•“Length of time and cost to develop concepts.”
•“Lengthy and cumbersome approval processes.”
•“Lots of regulations on signage, building composition,
etc.”
•“Slowness of approval process affects product to market
timelines and cost."
•“Sign restrictions are ridiculous. My company launched an
international rebranding campaign and Dublin earned the
dubious distinction as the hardest city in the US to work
with and one of the hardest in the world.”
•“The City needs to do a better job of responding and
processing permits faster. Companies expect the built-out
process to be faster than what is occurring within the City
of Dublin.”
•“The time and steps required to get from site selection to
building complete and ready to occupy is long and
complicated which makes it hard to give a tenant a firm
commitment they can rely on.”
•“Time to obtain approvals due to very active/involved City
departments”
•“Dublin economic department seems to have fallen off the
earth -no out reach to us as in years past. Unrealistic
planning rules prevent upgrade improvements. Seems like
after bridge park things have stopped.”
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Includes all survey responses –does not include responses indicating no challenges or NA
11
Specific Utility Challenges Cited
•“Better broadband opportunities with faster rates”
•“Better internet with reliability”
•“High speed internet choices”
•“Internet -We do not have many options at both of our locations.”
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Includes all survey responses –does not include responses indicating no challenges or NA
12
Additional Looks By Industry Grouping
By Company Size
13
Remote Work Arrangements by Company Size:
One shift since COVID-19 is that relatively few of the large
companies are offering an exclusively in-person option.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
14
Remote Work Arrangements by Industry:
Since the COVID-19 Peaks, Advanced Manufacturing, Business Services,
and Real Estate have seen considerable returns to in-person work.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
15
Remote Preferences by Industry:
Persistence of remote-work in business services, while growing in-
person in advanced manufacturing, healthcare, R&D services.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
16
Remote Preferences by Company Size:
According to leaders regardless of company size, their
employees seem to prefer a hybrid workplace.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
17
Future Remote Plans by Company Size:
Smaller companies are more likely to suggest they have no plans to allow
remote work.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
18
Future Remote Plans by Industry:
Compared to other industries, business services and tech-related
companies both plan to expand remote work options.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
19
Workforce Challenges by Industry:
Workforce challenges tend to cut across industries.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.For Internal Discussion Only –Not for Distribution
20
Workforce Challenges by Company Size:
Challenges with employee attraction, retention, and engagement cut across
companies of all sizes –though larger firms note challenges related to DEI.
Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.For Internal Discussion Only –Not for Distribution
21
Barriers to Growth by Industry:
Healthcare-related businesses faced the largest challenges with finding
workers and affordable housing; regulations challenge the land developers.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
22
Barriers to Growth by Company Size:
The top three barriers were generally the same for small and large
businesses, with mid-sized companies struggling with access to capital.
For Internal Discussion Only –Not for Distribution Source: TEConomy Analysis of Dublin Economic Development Survey Results
Note: Only refers to private sector companies and limited to a single response for each company.
Dublin Semiconductor Supply Chain
Positioning Study
Prepared for:May 30, 2023
NEWMARK GLOBAL STRATEGY & CONSULTING
NEWMARK
1.Project Team & Background 3
2.Semiconductor Supply Chain Fundamentals 8
3.Semiconductor Business Location Dynamics 18
4.Semiconductor Sector Property Types 28
5.Dublin Planning District Assessments 40
6.Semiconductor Sector Attraction Practices 52
7.Promoting Dublin’s Value Proposition 59
8.Recommendations 64
2
TABLE OF CONTENTS
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
1. Project Team &
Background
3
NEWMARK
Global Reach: Locally Expert, Globally Connected
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
4
Complete suite of services is tailored to every type of client:
–Brokerage & Transaction Management
–Lease Administration & Audit Services
–Global Strategy & Consulting
–Workplace Strategy & Human Experience
–Technology & Innovation
–Program & Project Management
–Facilities Management
99% of your locations directly
serviced by Newmark
Entrepreneurial spirit and
future-facing vision.
One of the world’s leading
commercial real estate platforms.
4
Delivery of Services:
Global delivery in over 100 countries with
best in market commitment
100+
countries
500M
square feet managed worldwide
~140
offices worldwide
92
years in business
$3.0B+
annualized revenue
NEWMARK
Integrated Service Delivery
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
5
Newmark is a full-service
firm with both consulting
and delivery capabilities at
every stage of the real
estate lifecycle.
Newmark Global Strategy
will be the lead service for this
engagement and can support
downstream execution of the
project as needed.
NEWMARK
•Strategic Portfolio
Assessment
•Cost Reduction
Strategy
•Asset Optimization &
Capital Planning
•M&A Due Diligence
and Integration
Portfolio Strategy
10-30%
$4B+
OPERATING COST SAVINGS
ACROSS ALL ENGAGEMENTS
IN ECONOMIC
INCENTIVES NEGOTIATED
400
+15 -20
AVG YEARS OF CONSULTANT
EXPERIENCE
What Do We Do: We are management consultants who help companies determine what facilities they need, where they are needed, and how those facilities’
operating conditions should be organized geographically, functionally, and socially while optimizing costs to the business.
10-30%
OPERATING COST SAVINGSACROSS ALL ENGAGEMENTS
$15B+
IN ECONOMICINCENTIVES NEGOTIATED
500+
CLIENTS ACROSS MULTIPLE INDUSTRIES
15-20
AVG YEARS OFCONSULTANT EXPERIENCE
•Workplace Scenario
Planning and Venue
•Space Utilization and
Efficiency
Benchmarking
•Facility Master Planning
•Workflow and Business
Process Improvement
•Change Management
Workplace Strategy
and Human
Experience
•Program Research and
Feasibility
•Negotiation and
Optimization Strategy
•Compliance
Management
•Portfolio-Wide
Incentives Evaluation
Economic Incentives
Advisory
•Corporate Location
Strategy & Site Selection
•Relocation, Expansion and
Consolidation Feasibility
•Community & Site Due
Diligence
•Workforce and Labor
Analytics
Location Strategy &
Site Selection
•Supply Chain
Strategy &Analytics
•Logistics &Network
•Optimization
•Operations Strategy &
Warehouse Design
•Outsourcing,Spend &
Vendor Management
Supply Chain
Optimization
•Strategic Planning and
Target Industry Analysis
•Workforce and Talent
Development
•Asset-Based Community
Development Advisory
•Stakeholder and
Community Engagement
Economic
Development
Consulting
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Global Strategy & Consulting
6
NEWMARK 7
Project Team –Newmark Experts
Gregg Wassmansdorf
Senior Managing Director
Kevin Nesburg
Managing Director
Robert Hess
Vice Chairman
Kim Moore
Executive Managing Director
Brian Peterson
Managing Director
Gillian Apps
Senior Analyst
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
2. Semiconductor
Supply Chain
Fundamentals
8
NEWMARK
Semiconductor Industry: What’s the big deal about something so small?
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
9
Why do we need Semiconductors? What is a Semiconductor?
Semiconductors are an essential
component of electronic
devices,enabling advances in
communications, computing,
healthcare, military systems,
transportation, clean energy, and
countless other applications.
The industry lives—and dies—by a
simple creed: smaller, faster, and
cheaper.
A semiconductor is a material that can
either conduct or insulate the flow of
electricity.
Today, the term “semiconductor” is
frequently used to refer to computer chips,
which contain semiconductors, resistors,
capacitors, and other components needed
to carry out specific processes, such as
reading barcodes, operating a camera
lens, receiving wireless signals, or
coordinating the operations of other chips.
Source: Jeremy Waterhouse, Pexels.
NEWMARK
Semiconductor Manufacturing Process
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
10
The semiconductor manufacturing process consists of three main stages: design; fabrication; and assembly, testing, and packag ing. The largest portion of value added
in the manufacturing process occurs in the design and fabrication stages. The fabrication and assembly, testing, and packagin g stages are capital intensive and require
expensive specialized machinery.
Design
Front-End Fabrication
Assembly, Testing, & Packaging
Companies invent new products and
conceive of circuit designs for manufacture.
Semiconductor circuit designs are etched
onto silicon wafers.
Wafers are sliced into individual chips,
tested, and packaged. High labor intensity.
Typically not completed in U.S.
Roughly 90%
of the industry
value added
occurs in
these two
phases.
Requires
significant
capital
investment.
NEWMARK
Semiconductor Industry Product Types
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
11
Microprocessors
Used for the interchange and manipulation of data in computers,
communication devices, and consumer electronics.
Most technically advanced, highest cost, and highest profit margin.
Analog Devices
Used to translate analog signals to digital form.
Memory Devices
Used for storing information on computers, smartphones, tablets, and other
devices.
Less technically advanced than microprocessors. High volumes, low profit
margins. Subject to boom-bust cycles.
Optoelectronics, Sensors, and Discretes (OSD)
Used to generate or sense light, such as in traffic lights or cameras.
The semiconductor industry has many product types and applications. There are four major categories of products that semiconductor businesses manufacture.
NEWMARK
Semiconductor
Foundries
Manufacture computer chips.
Major players
Taiwan Semiconductor Mfg. Corp.
(TSMC)
UMC
Global Foundries
Semiconductor Mfg. Intl. Corp. (SMIC)
Fabless Manufacturers
Design computer chips. Contract
their manufacturing to a foundry.
Major players
AMD
Apple
Qualcomm
Nvidia
Semiconductor Manufacturing Business Models
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
12
Some semiconductor businesses, like Intel, design and fabricate their own computer chips. Other businesses like AMD or Apple design chips but outsource their
production. Fabrication business like Taiwan Semiconductor (TSMC) or Global Foundries focus exclusively on manufacturing semi conductors for fabless clients.
Integrated Device
Manufacturers
Design and manufactures computer
chips in-house.
Major players
Intel
Samsung
Texas Instruments
Infineon
NEWMARK
Semiconductor Industry Ecosystem
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
13
Computer chip fabrication is only one part of a much
larger ecosystem that includes a multitude of
supporting supply chain businesses.
These supply chain businesses have site and location
needs that affect where they locate. Intel’s “tier 1”
suppliers –those suppliers Intel has a direct
relationship with –require heavy industrial sites with
land buffers, access to large volumes of water and
electricity, and access to multiple transportation
options. Smaller operations like R&D and design tend
to locate in office, lab, or flex space.
Equipment & Chip
Design
Raw Materials
Legal, Sales, &
Marketing
Chip
Fabrication
Semiconductor Mfg.
Equipment Production
Prototyping & Small
Batch Manufacturing
Staffing & Workforce
Development
Assembly, Testing,
Packaging
Logistics &
Transportation
Light IndustrialOfficeLabFlex Heavy Industrial
Space Occupied
Semiconductor Industry Ecosystem
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
14
Semiconductor Industry Employment Composition
Job Title
% of Industry
Employment
Average Wage,
2021 (Ohio)
Electrical Assemblers 16%$34,100
Semiconductor Processing Technicians 6%$44,700
Inspectors, Testers, and Weighers 5%$41,000
Industrial Engineers 4%$95,400
Software Developers 3%$112,800
Team Assemblers 3%$32,400
Electronics Engineers 3%$111,00
Electronics Assembly Supervisors 2%$65,000
Industrial Engineering Technicians 2%$60,300
Electrical Engineering Technicians 2%$62,700
Job Title
% of Industry
Employment
Average Wage,
2021 (Ohio)
Customer Service Representatives 5%$43,100
Accountants and Auditors 4%$77,700
Bookkeeping and Auditing Clerks 4%$44,100
General and Operations Managers 4%$151,700
Financial Managers 3%$146,500
Software Developers 3%$99,700
Human Resources Specialists 3%$71,400
Market Research Analysts 3%$79,100
Computer Systems Analysts 3%$94,600
Office Supervisors 2%$71,700
Semiconductor Industry Common Occupations in OhioCorporate HQ Industry Common Occupations in Ohio
Source: JobsEQ
The semiconductor industry consists of occupations with a variety of pay ranges. Many of the industry’s entry level positions , such as
assemblers and processing technicians, are located at semiconductor fabs. Higher paying occupations in the industry, like sof tware
developers or engineers, may be located at the fab or at supply chain businesses.
NEWMARK
Semiconductor Industry
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
15
Several recent events have spurred a restructuring in the global semiconductor supply chain. These include:
1.The COVID-19 pandemic exposed the pitfalls of geographic fragmentation in the semiconductor supply chain.
2.Increasing geopolitical tension, especially between China and the U.S., has led to U.S. sanctions that significantly limit the import of Chinese
computer chips to the U.S.
3.Many countries have begun to subsidize their semiconductor industry to encourage domestic chip production in response to these tensions.
Semiconductor self-sufficiency has become a national defense priority.
In response to these challenges, the U.S. government enacted the Creating Helpful Incentives to Produce Semiconductors and Science Act of
2022 (CHIPS Act) in August 2022. The goal of the CHIPS Act is to boost U.S. competitiveness, innovation, and national security. The CHIPS Act invests
$280 billion to bolster U.S. semiconductor capacity, catalyze R&D, create regional high-tech hubs, and crate a bigger, more inclusive STEM workforce.
-Asia Times, December 7, 2022
-Electronic Engineering Times, March 3, 2023
-Bloomberg, March 22, 2023-Business Insider, March 14, 2023
-Reuters, August 19, 2021
-The GIS Report, April 6, 2023
NEWMARK
Intel Integrated Device Manufacturing (IDM) 2.0
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
IDM 2.0 represents the combination of three components that will enable
the company to drive sustained technology and product leadership:
1.Intel’s global, internal factory network for at-scale manufacturing is a
key competitive advantage that enables product optimization,
improved economics and supply resilience. Intel will continue to
manufacture the majority of its products internally.
2.Intel will increase its utilization of third-party fabs to include
manufacturing for a range of products, including those at the core of
Intel’s computing offerings for both client and data center segments
beginning in 2023.
3.Intel will establish a standalone business unit known as “Intel
Foundry Services” to provide leading-edge foundry services to
clients.
16
In response to global supply chain issues and geopolitical tension, Intel announced in 2021 that it would make major investme nts to expand
its semiconductor production capacity as part of the company’s “IDM 2.0” strategy.
The IDM 2.0 announcement included two new fab facilities in Chandler, Arizona, and has since been expanded to include two fab facilities in
New Albany, Ohio.
NEWMARK
Intel Ohio Investment Overview
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
17
Source: Intel, Office of the Ohio Governor.
Site size:1,000 Acres
Number of fab facilities:2 by 2025
Up to 8 by 2030
Total Investment:$20 billion by 2025
Up to $100 billion by 2030
Direct Employment:3,000
Average annual wage:$135,000
Intel New Albany Facility DetailsIn January 2022, Intel announced it would invest approximately $20 billion
to build two fab facilities in New Albany, making Ohio one of four states
with an Intel fab facility (Oregon, Arizona, New Mexico).
The project broke ground in September 2022. Production will begin in
2025.
The fabs will build Intel’s new “Angstrom era chips.” An Angstrom is a unit
of measure one-tenth of a nanometer (nm), used to denote the distance
between transistors on a semiconductor chip. Angstrom era chips will
have an initial distance between transistors of 2 nm or less. Intel currently
manufacturers 10 nm chips.
Intel New Albany Fab Renderings
Source: Intel
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
3. Semiconductor Business
Location Dynamics
18
NEWMARK
Semiconductor Location Dynamics | Supplier Park
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Intel’s expansion into Central Ohio presents
immediate opportunities for Dublin and other
Columbus area communities to attract
semiconductor supply chain businesses.
For some of these businesses, proximity to the fab
will be critical. VanTrust is currently developing a
500-acre technology park for Intel suppliers. The
park’s first spec building will be completed in 2023.
The business park could contain up to 5 million
square feet of space once completed.
19
Source: VanTrust.
NEWMARK
Semiconductor Location Dynamics for Selected Semiconductor Metros
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
In other communities, semiconductor fabs have
attracted scores of suppliers. News reports suggest
that the New Albany fab will attract roughly 40
companies. The Newmark team identified less than
five major suppliers in the region today.
The Newmark team also examined how supply chains
have evolved in other semiconductor communities
across the country to determine how many supply
chain businesses may locate in the region.
Two other Intel communities –Chandler, Arizona and
Hillsboro, Oregon –are home to more than 60
suppliers. Other IDMs like Samsung and Texas
Instruments are home to more than 70 suppliers.
20
Company Fab Location Suppliers Within 1-Hr Drive
Samsung Austin, TX 92
Intel Chandler, AZ 88
Texas Instruments Richardson, TX 77
Intel Hillsboro, OR 61
Micron Boise, ID 19
Global Foundries Malta, NY 11
Semiconductor Business Proximity to Fabs
Source: ESRI Business Analyst, Newmark research.
NEWMARK
Semiconductor Location Dynamics | Columbus, OH
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
The Columbus region is home to only a handful of
semiconductor businesses today.
21
Drive Time from
Fab (mins)Number of Suppliers
<10 0
10-20 1
20-30 1
30-60 2
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
22
Semiconductor Location Dynamics | Chandler, AZ
Chandler is home to four Intel fabs, the oldest of
which began production 1996. Intel’s Chandler
facilities produce Xeon microprocessors used in
servers. There are 88 suppliers within a 1-hour drive
of these facilities.
Drive Time from
Fab (mins)Number of Suppliers
<10 20
10-20 51
20-30 9
30-60 8
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
23
Semiconductor Location Dynamics | Hillsboro, OR
Hillsboro is home to four Intel fabs, the oldest of
which began manufacturing in 1996. There are 61
suppliers located within a 1-hour drive of the fabs.
Drive Time from
Fab (mins)Number of Suppliers
<10 16
10-20 11
20-30 7
30-60 27
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
24
Semiconductor Location Dynamics | Malta, NY
Malta is home to GlobalFoundries’ sole U.S.-based
fab. The fab began production in 2012. There are 11
suppliers within a 1-hour drive of the facility.
Drive Time from
Fab (mins)Number of Suppliers
<10 3
10-20 1
20-30 2
30-60 5
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
25
Semiconductor Location Dynamics | Austin, TX
Austin is home to Samsung’s “S-2” fab, which began
production in 2011. The fab manufactures
microprocessors and flash memory chips used in
consumer electronics like mobile phones and digital
cameras. There are over 90 suppliers located within a
1-hour drive. Some suppliers may also be servicing
Texas Instruments in Dallas/Richardson.
Drive Time from
Fab (mins)Number of Suppliers
<10 7
10-20 34
20-30 38
30-60 13
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
26
Semiconductor Location Dynamics | Richardson, TX
Richardson is home to two Texas Instruments fabs,
the oldest of which began production in 2009. Texas
Instruments manufactures analog semiconductors
that are used in a wide range of consumer and
business products. There are 77 suppliers within a 1-
hour drive of the fabs.
Drive Time from
Fab (mins)Number of Suppliers
<10 22
10-20 32
20-30 12
30-60 11
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
27
Semiconductor Location Dynamics | Boise, ID
Boise is home to one Micron fab that produces
computer and flash memory devices. The facility has
been in operation since the early 1980s. There are 19
suppliers located within a 1-hour drive.
Drive Time from
Fab (mins)Number of Suppliers
<10 7
10-20 10
20-30 1
30-60 1
Supplier Location Characteristics
Source: ESRI Business Analyst, Newmark research.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
4. Semiconductor Sector
Property Types
28
NEWMARK
Semiconductor Property Types
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
29
Property Type Site Characteristics Built Form Worker Description
Office
Site size varies significantly –may be large
standalone sites or mixed-use high density.
Can be situated near other offices or
residential uses.
Self-contained building with attractive
architectural features. Minimal traffic flow
outside of employees.
Predominantly professional occupations.
Work occurs mostly during the day.
Lab Small to medium sized sites. May exist as
part of office or industrial sites.
Some venting/stacks but maintains strong
“office-like” appearance.
A mixture of office professionals and
technical workers. Work occurs during the
day.
Flex Smaller scale sites. Fits near office, lab, or
industrial uses.
Primarily focused on industrial activities but
maintains many characteristics of office
buildings. Some rear truck bays for
shipments.
A combination of office professionals and
production workers. Production work may
include testing, prototyping, or other light
manufacturing. Work occurs during the
day.
Light Industrial
Medium scale sites. Typically located away
from residential uses. May be adjacent or
co-located with other industrial uses.
Transportation access is important.
Design elements focused on ease of
production first, aesthetics second. High
ceilings. Venting/stacks. Rear truck bays
support moderate volume of traffic.
A mixture of office professionals and
production workers. Work may occur
around the clock.
Heavy Industrial Large scale sites. Shielded from residential
uses through land buffers or other uses like
offices. Transportation access is critical.
Design elements focused on ease of
production rather than aesthetics. High
ceilings. Venting/stacks. Visible truck bays.
Outdoor storage.
Mostly production workers. Work occurs
around the clock.
Semiconductor industry activity occurs across multiple property types. These property types each have unique
characteristics that guide location choices.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
30
Business services, sales, engineering, and some R&D activities occur in office buildings and settings familiar to Dublin, OH.
Semiconductor Office Properties (1 of 3)
Moov Technologies, Phoenix, AZ
▪83 North Mill Ave, Tempe, AZ
▪Moov is an online software platform that matches buyers and sellers of
semiconductor manufacturing equipment.
▪32,000 SF space inside large high-rise office building.
▪Total employment expected to reach over 100 by end of 2022.
ON Semiconductor, Meridian, Idaho
▪3405 E Overland Rd, Meridian, ID
▪Onsemi is a supplier of silicon solutions for energy efficient electronics, including EV
automotive, LED lighting, communications, medical, and aerospace industries.
▪Corporate Campus: Design and Solution Engineering.
▪Onsemi occupies 5,900 SF of the 124,000 SF building.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
31
Business services, sales, engineering, and some R&D activities occur in office buildings and settings familiar to Dublin, OH.
Semiconductor Office Properties (2 of 3)
Hitachi High-Tech America,Hillsboro, OR
▪2900 NE Century Blvd Ste 200, Hillsboro, OR 97124
▪Hitachi High-Tech America sells and services semiconductor manufacturing
equipment.
▪Hillsboro location serves as corporate office.
▪43,700 SF building. Hitachi occupies several suites within the building.
Analog Devices, Inc., Dallas, TX
▪14675 Dallas Pkwy Suite 300, Dallas, TX 75254
▪Analog Devices is a multinational semiconductor company specializing in data
conversion, signal processing and power management technology.
▪Dallas location serves as corporate office.
▪197,000 SF multi-tenant building. Analog occupies one suite.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
32
Business services, sales, engineering, and some R&D activities occur in office buildings and settings familiar to Dublin, OH.
Semiconductor Office Properties (3 of 3)
Micron Technology, Inc., Boise, ID
▪1060 S Manitou Ave, Boise, ID 83706
▪Micron Technology is a semiconductor manufacturing company.
▪Boise location serves as an engineering center comprised of offices and
classrooms.
▪18,000 SF space located at Boise State University campus.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
33
Business activities primarily focused on product design and testing.
Semiconductor Lab Properties
Lawrence Semiconductor Labs, Tempe, AZ
▪2300 W Huntington Dr, Tempe, AZ 85282
▪Lawrence Semiconductor Labs specializes in epitaxial manufacturing,
characterization, research and development services.
▪Tempe location serves as a testing laboratory.
▪15,000 SF building.
Qrona Technologies, Eden Prairie, MN
▪7622 Executive Dr, Eden Prairie, MN 55344
▪Qrona Technologies provides expertise and equipment for thin-film disposition
and characterization to reduce R&D time and cost.
▪Eden Prairie location serves as a research and product development laboratory.
▪112,332 SF flex building. Qrona Technologies occupies one suite.
NEWMARK 34
CITY OF DUBL IN ECONO MIC DE VELOPM ENT | SEMICONDUCTOR POSITI ONING STUDY
Semiconductor Flex Industrial Properties (1 of 2)
Many office functions, R&D, and light industrial activities occur in Flex Industrial buildings with a variety of multi-use features.
Valin Corporation, Chandler, AZ
▪2900 S Gilbert Rd Suite 2, Chandler, AZ 85286
▪Valin Corporation is a leading technical solutions provider.
▪Chandler location serves operations and logistics staffing, warehousing,
electrical assembly, gauge certification and distribution.
▪32,000 SF building.
Micron Semiconductor Products Inc., Round Rock, TX
▪1 Chisholm Trail Rd # 2200, Round Rock, TX 78681
▪Micron Semiconductor Products manufactures and distributes electronic
components.
▪Round Rock location serves as a corporate office and parts supplier
▪80,504 SF multi-tenant building. They lease approximately 35,000 SF.
NEWMARK 35
CITY OF DUBL IN ECONO MIC DE VELOPM ENT | SEMICONDUCTOR POSITI ONING STUDY
Semiconductor Flex Industrial Properties (2 of 2)
Many office functions, R&D, and light industrial activities occur in Flex Industrial buildings with a variety of multi-use features.
ASML Holding, Hillsboro, OR
▪7451 NE Evergreen Pkwy, Hillsboro, OR 97124
▪ASML is the largest supplier for the semiconductor industry.
▪Hillsboro location is the largest US Customer Support Site, focusing on office,
maintenance, installations, and upgrades.
▪25,303 SF building.
netMercury, Dallas, TX
▪13438 Floyd Cir, Dallas, TX 75243
▪netMercury is a semiconductor supplier.
▪Dallas location serves as a critical parts, materials, equipment, repairs and value-
added service supplier.
▪6,676 SF building.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
36
Activities including R&D, light manufacturing, and distribution in highly-accessible industrial park settings.
Semiconductor Light Industrial Properties (1 of 2)
Banner Industries, Hillsboro, OR
▪7205 NE Evergreen Pkwy Ste 900, Hillsboro, OR 97124
▪Banner Industries is a stocking distribution service.
▪Hillsboro location is a center for distribution service of high purity and industrial
flow components.
▪75,000 SF multi-tenant building. Banner occupies a portion of this space.
ASM America, Phoenix, AZ
▪3440 E University Dr, Phoenix, AZ 85034
▪ASM specializes in design, manufacturing, sales and service of semiconductor
wafer processing equipment.
▪Phoenix location serves as the ASM America headquarters.
▪130,282 SF building.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
37
Activities including R&D, light manufacturing, and distribution in highly-accessible industrial park settings.
Semiconductor Light Industrial Properties (2 of 2)
Omni Logistics, Austin, TX
▪4801 Freidrich Ln Bldg 3 Suite 250, Austin, TX 78744
▪Omni Logistics is a global logistics company.
▪Austin location serves as warehousing and distribution.
▪205,176 SF multi-tenant building. Omni Logistics occupies a warehouse suite.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
38
Heavier manufacturing uses with large utility, infrastructure, and transportation needs that require distinct land use planning considerations.
Semiconductor Medium & Heavy Industrial Properties (1 of 2)
Intel, Hillsboro OR
▪1798 NE Shute Rd, Hillsboro, OR
▪Intel (Hawthorn Farm Campus) is home to 3 semiconductor fabs.
▪Heavy manufacturing is located across the street from quality residential
housing (NE Shute Road) and shielded by berms and landscaping.
Edwards Vacuum, Chandler, AZ
▪2350 E Germann Rd #30, Chandler, AZ 85286
▪Edwards is a leading semiconductor supplier of vacuum equipment.
▪Chandler location serves manufacturing, warehousing, factory areas and training.
▪200,000 SF building.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
39
Heavier manufacturing uses with large utility, infrastructure, and transportation needs that require distinct land use planning considerations.
Semiconductor Medium & Heavy Industrial Properties (2 of 2)
LTD Material, Austin, TX
▪8115 Altoga Dr A, Austin, TX 78724
▪LTD Material provides products and services to the semiconductor industry.
▪Austin location is a machine shop.
▪38,000 SF space.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
5. Dublin Planning
District Assessments
40
NEWMARK
Planning District Assessments for Semiconductor Investment
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
The Newmark team participated in a brief tour of each of Dublin’s business districts to become familiar with the general deve lopment characteristics of each part of the
city. The team made preliminary assessments of available sites and infrastructure from a site selector’s perspective. The tea m conducted desktop research and
collaborated with Dublin Economic Development and Planning professionals to determine each district’s suitability to support the development of various semiconductor
asset types.
41
Suitability Level Indicator Notes
Low l
Significant challenges for this property type. Not
recommended for marketing efforts. Challenges
may include infrastructure, available space,
zoning, public opposition, etc.
Medium ll
Area provides some suitability for
semiconductor types but may have some
disadvantages or challenges.
High lll
Area satisfies many criteria required for
semiconductor supply chain investment activity.
Recommended as an area to market to
semiconductor suppliers.
NEWMARK
Planning District Assessment Criteria for Semiconductor Investment
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Workforce Access
Property Options
Transportation
Access
Official Plan & Zoning
Utilities
Land Use
Compatibility
The Newmark team leveraged their expertise as site selectors and economic developers to review each of Dublin’s planning dist ricts. The team considered the
following criteria in assessing suitability for various semiconductor asset types:
42
NEWMARK
Planning District Assessments for Semiconductor Investment | Overall Summary
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Area Office Lab Flex
Light
Industrial
Heavy
Industrial
Blazer Research District lll lll ll l DQ
Bridge Street District lll l l DQ DQ
Emerald Corporate District lll lll ll l DQ
Metro Office District ll l l l DQ
Perimeter Commerce District lll ll l l DQ
Shier Rings Techflex District lll lll lll ll DQ
West Innovation District lll lll lll ll DQ
Potential Annexation Lands ll lll lll lll lll
Sum of Suitability Scores:22 19 16 11 3
DQ = Disqualified. Land use not suitable for district development based on discussions with City of Dublin Planning and Economic Development.
The sums of Newmark’s suitability scores are indicative of development potential of various assets types in Dublin. Office us es are clearly favored, and Heavy Industrial
uses have constrained prospects. However, Lab, Flex, and Light Industrial uses have more investment potential than currently projected by city staff.
43
NEWMARK
Assessment: West Innovation District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•District remains mostly undeveloped. Potential for larger site greenfield projects.
•Current zoning permits a variety of uses including office, lab, flex, and light
industrial.
•Potential for annexation of extraterritorial lands west of Houchard Road.
•Direct access to CN rail.
•Access to high voltage transmission lines and substation.
•Excellent access to Hwy 33.
•Industrial building under construction indicates demand for flex/industrial space.
•Expedited development review process.
Challenges:
•Potential local opposition to industrial use, especially if near to Darree Fields or
residential uses.
•Water/Wastewater capacity unknown, with some reports of low water pressure.
•Roads & utilities not fully developed, especially in areas most suited to industrial.
•Pockets of residential use nearby, with conflicting interests in future land uses.
Opportunities/Recommendations:
•The WID has the greatest potential among all districts for industrial use. The area
should be marketed toward semiconductor suppliers that require high power or
water use (contingent upon capacity study findings).
•The City should work with the City of Columbus to proactively understand
water/wastewater load capacities and thresholds for potential projects.
•Develop development capacity studies on 2-4 sites.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll lll lll ll DQ
District Assessment
44
NEWMARK
Assessment: Perimeter Commerce District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•Concentration of hospital/medical uses.
•Presence of a small number of larger undeveloped/vacant office
properties.
•Good access to consumer services.
•Excellent highway access.
•Utility system built out to accommodate community plan.
•Most of the district buffered from residential uses.
Challenges:
•Consolidated land ownership (few players with large parcels).
•Planned Unit Development District. Development requires compliance
with previously approved development text requirements as part of the
zoning review process.
•Mostly built out.
Opportunities/Recommendations:
•District has potential for new large-scale office or lab development.
•City should work with the City of Columbus to proactively understand
water/wastewater load capacities and thresholds for project types.
•Identify electricity and gas utility capacity constraints for industrial uses.
•Identify developable parcels and conduct development capacity studies
for Lab and Office options.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll ll l l DQ
District Assessment
45
NEWMARK
Assessment: Shier Rings Techflex District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•Dublin’s original industrial corridor, presence of existing small
industrial/flex spaces could be complimented by additional industrial
development.
•Standard zoning throughout most of the district (Technology Flex)
allows for by-right development, supports multiple property uses,
including lab and clean manufacturing.
•Excellent access to Hwy 33 and interstate highway system.
•Access to some consumer services.
Challenges:
•Mostly built-out, difficult to find vacant parcels.
•Most developable parcels are smaller sized.
•Heavily wooded area with high tree replacement fees.
•Height and setback ratios limit scale and intensity of new development.
Opportunities/Recommendations:
•Identify utility capacity constraints for industrial uses.
•Identify developable parcels and conduct development capacity studies
for Lab and Flex Industrial project options.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll lll lll ll DQ
District Assessment
46
NEWMARK
Assessment: Emerald Corporate District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•Excellent access to U.S. 33 and Interstate 270.
•Historic presence of high visibility office space, potential draw for
companies wanting to be seen.
Challenges:
•Mostly built-out, little vacant land.
•Mostly Planned Unit Development District. Development requires
compliance with previously approved development text requirements as
part of the zoning review process.
Opportunities/Recommendations:
•Consider opportunities to accommodate Lab or Flex uses that are co-
located with corporate headquarters functions.
•Refresh existing capacity studies for selected sites with more diverse
use cases to accommodate semiconductor sector needs.
•Identify any potential utility capacity challenges for flex or light industrial
uses.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll lll ll l DQ
District Assessment
47
NEWMARK
Assessment: Blazer Research District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•District contains larger properties buffered from residential uses.
•Current zoning allows for by-right development of Office, Laboratory,
and R&D, which is unique in the city.
•Vacant sites allow for customized development.
Challenges:
•Current zoning may limit larger projects with more industrial functions.
•Limited access to consumer amenities. Future studies underway to
improve connectivity and broaden land use options.
•Dated office space and site planning not designed for walkability.
Opportunities/Recommendations:
•Identify utility capacity constraints for flex, lab, and light industrial
development.
•Update current capacity studies to include lab and flex uses.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll lll ll l DQ
District Assessment
48
NEWMARK
Assessment: Metro Office District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•Available office space.
Challenges:
•Fully built-out based on legacy “campus” site planning.
•Planned Unit Development District. Development requires compliance
with previously approved development text requirements as part of the
zoning review process.
•Limited access to consumer services. Future studies underway to
broaden land use options within a larger redevelopment framework for
the area.
•Dated office designs not designed for walkability or access to services.
•Local Business Association must approve changes to common areas.
Opportunities/Recommendations:
•Current abundance of vacancies in the district (“as-is, where-is”) may
provide immediate leasing opportunities for certain semiconductor
supply chain companies seeking affordable office space.
•The City adopted an updated vision for the area that identifies what a
redeveloped district could look like. The vision includes implementation
steps that the City should continue working toward. A redeveloped
district could attract semiconductor office users looking for Class A office
space.
Office Lab Flex
Light
Industrial
Heavy
Industrial
ll l l l DQ
District Assessment
49
NEWMARK
Assessment: Bridge Street District
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Strengths:
•Vibrant quality of life in new Bridge Street neighborhood area.
•Walkability with commercial and social amenities.
•Attractiveness to younger workforce.
•Good access to Interstate 270.
Challenges:
•Current zoning may limit larger development.
•Proximity to residential uses poses challenges for non -office uses.
•Development must meet existing form-based code.
Opportunities/Recommendations:
•District has strong potential to attract smaller office users doing
business with Intel and other companies within the semiconductor
supply chain. This includes existing businesses, as well as startups.
Office Lab Flex
Light
Industrial
Heavy
Industrial
lll l l DQ DQ
District Assessment
50
NEWMARK
Assessment: Potential Annexation Lands
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
The City has expressed interest in potentially annexing property west of its
current corporate boundary. These lands are mostly unserviced,
undeveloped, and used for agriculture.
Strengths:
•Undeveloped land allows for strategic, long-range planning and targeted
development objectives.
•Excellent access to high-voltage electricity and freight rail.
•Limited constraints to utility rights-of-way and road planning corridors.
Challenges:
•Lands not under City control. Multiple owners and jurisdictions.
•Neither roads nor utilities planned and at scale to support large
development.
•Requires detailed analysis within the City’s Community Plan process.
•Residential and other uses encroaching on unique industrial infrastructure.
Opportunities/Recommendations:
•Pause further residential development near rail and electricity assets.
•Examine Dublin’s rare opportunity for large site assembly for “Heavy
Industrial” development that is clean, high-tech, in the semiconductor or
other targeted sectors, and needing existing major power and rail assets.
•Maintain strong planning principles while diversifying Dublin’s economy
with large site options complementary to the adjacent WID.
Office Lab Flex
Light
Industrial
Heavy
Industrial
ll lll lll lll lll
District Assessment
51
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
6. Semiconductor Sector
Attraction Practices
52
NEWMARK
Semiconductor Attraction Best Practices
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
53
Dublin, OH Tualatin, OR Clay, NY McKinney, TX Allen, TX Peoria, AZ
Community Context Client
Mid-sized urban fringe
community & recognized
semiconductor
employment center.
Syracuse's most
populous suburb, and one
of Money Magazine’s
“100 best places to live in
the country.”
Robust community with
“name brand” employers
and large industrial base.
Diversifying toward office.
Prosperous suburban
community focused on
data centers, advanced
manufacturing, and
corporate headquarters.
Suburban community
marketing to small and
large semiconductor
businesses.
Population
(2020 Census)49,328 27,942 60,527 195,308 104,627 190,985
Total Employment
(Q3 2022)47,719 29,171 41,340 63,816 38,137 47,842
Average Wage
Across all Industries $55,872 $83,831 $38,948 $76,683 $78,023 $66,384
The Newmark team identified a set of leading communities in other metropolitan areas that have had success attracting semicon ductor industry
businesses. The team discussed attraction efforts with these communities to determine key “lessons learned” from their semico nductor
attraction strategies.
Sources: Data –JobsEQ, U.S. Census Bureau. Images –City of Dublin, City of Tualatin, City of Clay, City of McKinney, City of Allen, TX CVB, Visit Peoria.
NEWMARK
Semiconductor Attraction: Tualatin, OR
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
54
Key Takeaways
•Lead with emphasis on quality of life and low tax
base.
•Annexation of county lands to the west of the city
in 1980s enabled development of
semiconductor-focused sites.
•Build on success with anchor tenants like Lam
Research, which has existed in the city since
1990s and has grown significantly.
Area of Supply Chain Focus
•Semiconductor Manufacturing Equipment
•Research & Development
•Precision Contract Manufacturing and
Prototyping
Value Proposition
•Proximity to Hillsboro fab.
•Strong housing values and options for all income
levels.
•Good transportation access with rail service and
highway connectivity to major interstates.
•Widely respected school district.
•Presence of industrial-focused Tax Increment
Financing district in western portion of the city
has helped fund infrastructure to support
semiconductor businesses.
Tualatin is a growing community located 12 miles southwest of downtown Portland and 22 miles southeast of Intel’s
Hillsboro fab. The community is considered a major employment hub in the semiconductor industry and is home to
major semiconductor suppliers like Lam Research and Fujimi Corporation, as well as smaller contract manufacturers
including JAE Connectors and Calmax Technology. These companies have co-located near one another at the city’s
western edge near State Route 99W, which provides access to other thoroughfares leading to the Intel campus.
The community is known for its high quality of life with good housing stock, access to the Tualatin River, and presence
of high-end boutique shopping.
Source: Greater Portland, Inc.
NEWMARK
Semiconductor Attraction: Clay, NY
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
55
Key Takeaways
•Long-term focus on quality of life in Upstate New
York and historically skilled workforce in
advanced manufacturing and technology.
•Strategic local economic development focus on
semiconductor supply chain as an opportunity for
diverse investment opportunities.
•Direct investments by County in land bank and
infrastructure planning to entice future projects,
while maintaining strong focus on “home rule”
local planning.
Area of Supply Chain Focus
•New 2022 Micron announcement to invest up to
$100 billion over 20+ years to construct 4 fabs,
creating 9,000 direct Micron jobs and indirect
employment exceeding 50,000 jobs.
•Prior to Micron, Onondaga County spent 6 years
planning and investing in industrial lands to land
significant manufacturing and spin-off office jobs.
Value Proposition
•Emphasis on local land use and development
planning that is fast, responsive to investor needs.
•County funds dedicated to engineering studies to
anticipate project needs and allow for scalable
development in multiple phases.
•Easy commuting access to high-skill workforce and
higher education resources in Syracuse metro.
•Multi-faceted focus on skills training & upskilling.
•Proximity and access to high-voltage power, rail, and
development lands.
Clay is the most populous suburban community in Syracuse, New York, with a town population over 60,000.
Employment opportunities include small, family-owned businesses, national retail chains, and a wide variety of
service-sector and manufacturing operations. The town is adjacent to Syracuse, NY (population 149,000 and
ranked by Forbes as the 4th best place in the United States to raise a family) and situated at the north end of
Onondaga County, which has 470,000 people within its boundaries.
The region has a long history of company attraction and local business growth in the inter -related fields of
software, manufacturing, and services related to electronics, automotive, defensive, semiconductors, and more.
NEWMARK
Semiconductor Attraction: McKinney, TX
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
56
Key Takeaways
•Lead with emphasis on workforce and local
talent pool.
•Partnerships with higher education are critical.
City acts as a relationship builder, especially with
relocating businesses.
•Dedicated “expeditor” staff make McKinney
competitive among peers.
Area of Supply Chain Focus
•Research and Development, Engineering
•Lab (wet, dry, clean)
•15,000-30,000 SF tenants
Value Proposition
•Strong stock of executive housing.
•Proximity to fabs in Sherman and Austin.
•Available R&D and engineering workforce.
•City has a dedicated Project Expeditor position that
focuses on guiding large projects through from
introduction to occupancy.
•Strong partnerships with University of Texas Dallas,
which was built with the intent of developing an
engineering talent pipeline for Texas Instruments. City
helps form relationships between businesses and
university talent.
McKinney is a growing northeastern suburb of Dallas-Fort Worth with a population of nearly 200,000 residents.
McKinney is a 30-minute drive south of Sherman, TX, which is home to a new $30 billion Texas Instruments fab and a
$5 billion GlobiTech fab.
McKinney is transitioning from a quiet bedroom community into a major employment center in Dallas. The community
is developing an industrial base along with lab, flex, and office, some of which is focused on Raytheon’s local advanced
manufacturing facility. The community has been approached by semiconductor suppliers looking to provide goods and
services to Samsung in Austin and Texas Instruments in Sherman.
Source: Discover Collin County
NEWMARK
Semiconductor Attraction: Allen, TX
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
57
Key Takeaways
•Strong relationship with regional EDC.
•Meets regularly with existing businesses to
ensure retention.
•Attends semiconductor trade shows, including
CES, SEMICON, ISS.
•Uses proximity to fab as key selling point for
attraction.
Area of Supply Chain Focus
•Research and Development.
•Assembly, Testing, & Packaging.
•Industrial Process Chemicals.
Value Proposition
•Available Class A flex, industrial, and office space.
•Strong technically-focused local community college
with electrical engineering program (Collin
College).
•Presence of mixed-use industrial space allows for
office and manufacturing in the same building. This
is especially attractive to global semiconductor
suppliers, who typically look for strong connections
between management and production workers.
Allen is a northeastern suburb of Dallas-Fort Worth with a population of 105,000. The city is located 12 miles north of
Richardson, which is home to two Texas Instruments fabs. The first fab began operations in 2009. The second fab
began production in late 2022. Allen is also 40 miles south of Sherman, which will be home to new fabs from Texas
Instruments and GlobiTech.
The City’s target industries include technology, data centers, and semiconductor suppliers. The community has
focused on marketing its Class A industrial and office space to major suppliers. The Allen Economic Development
Corporation is currently working to find space for Littelfuse, a global manufacturing company that manufactures power
protection solutions for circuit boards.
Source: Allen TX CVB
NEWMARK
Semiconductor Attraction: Peoria, AZ
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
58
Key Takeaways
•Proactive marketing has brought semiconductor wins
to the community. Economic Development team
maintains prospect list and conducts regular in-
person outreach in target markets.
•Economic Development meets regularly with
Planning and Engineering to discuss prospect
pipeline, ensure adequate utility infrastructure.
•Strong relationships with local brokers is critical.
Economic Development works with brokers to show
them what semiconductor prospects are looking for.
•“Reverse timeline” approach –city departments work
together to determine when review and feedback
must be completed based on needs of prospect.
Example Project
•In 2023, landed California-based HyRel
Technologies expansion project. HyRel provides
semiconductor modification services.
•HyRel chose Peoria because of the city’s proximity to
TSMC and Intel.
•20,000 SF, $15 million project, 50 jobs.
•Occupying one suite in multi-tenant flex building.
Value Proposition
•Strong quality of life, access to multiple
amenities including lakes, hiking, spring training
baseball.
•Good supply of modern mixed-use office space
that many technology companies are seeking.
•Several large developable sites with example
site plans prepared.
•Local community college offers two-week
semiconductor manufacturing certificate.
•Short development review timeline. Flexibility in
zoning.
Peoria is a western suburb of Phoenix with a population of 191,000 residents. The community is located within a 10 -
minute drive of Taiwan Semiconductor’s newly-announced Phoenix fab, which will begin production in 2024. Peoria is
also located 40 minutes northwest of Intel’s Chandler fab.
The City’s economic development team has aggressively marketed Peoria to Intel and TSMC suppliers, leading with
the community’s quality of life, available talent, workforce pipeline, and proximity to fabs.
Source: Peoria Arizona Economic Development.
NEWMARK
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
7. Promoting Dublin’s
Value Proposition
59
NEWMARK
Strength Newmark Comments
1.Strong quality of life
Dublin is a carefully curated community. The City’s efforts in this regard have made it a very desirable
place to live. The local school district is well regarded, home values are strong, and residents enjoy the
community’s public and private amenities.
2.Ethnic & linguistic diversity The community’s ethnic diversity is a strong selling point in attracting international semiconductor
suppliers that could expand to the region.
3.Dublink Fiber Infrastructure
Dublink Fiber is unique in the Columbus region, providing reliable and affordable high speed data
transfer. Many semiconductor industry companies depend on high throughput internet, making Dublink a
selling point in attraction efforts.
4.Vacant land for annexation
Dublin’s unique location on the northwestern edge of the Columbus MSA may allow the City to annex
vacant land to grow. Sites to the west of the city are especially promising due to their proximity to freight
rail and high voltage electricity. These lands are also separated from residential uses.
5.Vacant land within city boundaries The City has some vacant land within its boundaries –of public and private ownership –that could
accommodate custom-built semiconductor supply chain projects of various types.
Dublin Value Proposition: Strengths (1 of 2)
60
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
In addition to desktop research, the Newmark team conducted a visit to Dublin to assess the community’s strengths, challenges , and opportunities. During the visit,
the team spoke with key City and regional stakeholders. The team identified the following strengths for Dublin.
Strengths Lead with These
NEWMARK
Strength Newmark Comments
6.Proximity to Honda, Beta District, Smart Mobility
Corridor, and Intel
The community is centrally located to many “high-tech” corporate investments. Proximity to these assets
could be attractive to semiconductor and other electronics suppliers that will service Intel and Honda, or
businesses that will participate in the Smart Mobility Corridor and Beta District.
7.Available and successful mixed-use development The Bridge Street District serves as a major quality of life asset for young talent and provides desirable
“new format” Class A office space.
8.Access to high-voltage electricity and rail West Innovation District and potential future annexation lands provide a rare mix of strong electrical
infrastructure and access to rail that is critical to some industrial users.
9.Expedited development review process for WID Expedited planning and development review processes could help attract semiconductor suppliers who
face tight timelines to begin operations in the region and meet demand from the New Albany fab.
10.Strong local and regional education assets
The region has several strong education and training assets that will support workforce needs of
semiconductor businesses. Dublin can leverage their existing institutional relationships and amplify
messaging about the benefits of collaborating with these educational institutions while the City works with
semiconductor project leads.
Dublin Value Proposition: Strengths (2 of 2)
61
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
NEWMARK
Challenge / Opportunity Newmark Comments
1.Rigorous planning & development process is
thorough but also lengthy and unpredictable
Semiconductor suppliers face tight timelines to establish operations in the region given Intel’s aggressive
2025 production timeline. Dublin development projects are known for delays and last-minute planning or
zoning issues. This is a major impediment to development in the community.
2.Community Plan not current
An out-of-date Community Plan does not provide sufficient guidance to businesses or developers on the
City’s vision for future development. Developers and businesses face risks that an updated plan may
recommend zoning changes or envision different land use strategies. The City is in the process of
updating its plan.
3.Property capacity studies unavailable or not
utilized
Dublin has developed property capacity studies, but these studies are not readily available, nor are they
actively used to encourage development. Studies are unavailable for many vacant properties. Existing
studies focus heavily on retail and office uses, leaving no guidance for lab or flex/light industrial uses.
4.Lack of available industrial zoned property
The city has a very small stock of existing industrial property, along with low industrial vacancy rates and
only one industrial project underway, severely limiting the city’s potential to attract flex, lab, or industrial
users in the highly valuable and fast-growing semiconductor industry and other high-value sectors like
automotive.
Dublin Value Proposition: Challenges/Opportunities (1 of 2)
62
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
In addition to desktop research, the Newmark team conducted a visit to Dublin to assess the community’s strengths, challenges , and opportunities. During the visit,
the team spoke with key City and regional stakeholders. The team identified the following challenges and opportunities for Du blin.
Challenges/Opportunities Continue to Address
NEWMARK
Challenge / Opportunity Newmark Comments
5.Political/social opposition to industrial development Public opposition has inhibited new industrial development, perhaps based on limited conceptions of
industrial uses that may fit well within Dublin’s urban fabric and create high -skill, high-wage employment.
6.Stagnant office market with barriers to
redevelopment in some areas
High vacancies in office market. Much of the city’s office stock is aging. Some areas (Metro Office, Blazer
Research) have significant ownership/political/procedural barriers that limit potential for redevelopment.
7.Limited availability of manufacturing-focused high
school programs within City boundaries.
Dublin City Schools does not directly offer manufacturing-focused career education, though this is
supplemented by program offerings through Tolles. Columbus State Community College offers
certificates and associate degrees in manufacturing, engineering, and related disciplines to support
Columbus area students interested in entering manufacturing sectors, with a semiconductor program
announced and in development.
8.Presence of other competitive “development ready”
communities throughout the region
The Columbus region is home to several competitive communities that have experience attracting lab,
flex, and industrial users. These communities have property that will become available and ready faster
and with greater certainty for new developments than is possible in Dublin.
9.Columbus-controlled water and sanity sewer utility
requires dual agreement
Water and wastewater utilities not being under Dublin control adds uncertainty in the site selection
process. This may deter businesses that have large water or wastewater needs from locating in Dublin.
Dublin Value Proposition: Challenges/Opportunities (2 of 2)
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CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
8. Recommendations
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NEWMARK
Recommendations
CITY OF DUBLIN ECONOMIC DEVELOPMENT | SEMICONDUCTOR POSITIONING STUDY
Organizational
Recommendations to address
internal City structure to
support semiconductor
industry development.
Marketing
Recommendations for
identifying, communicating
with, and responding to
prospects and site selectors.
Site Readiness
Recommendations for
preparing priority sites for
semiconductor businesses.
Workforce
Recommendations for
supporting workforce
development in the
semiconductor space.
Development Planning
Recommendations regarding
land use in Dublin. Specific
actions to prepare community
areas for semiconductor
businesses.
The Newmark team developed a set of recommendations for Dublin to consider as it
pursues the semiconductor supply chain. The opportunity to attract suppliers is
immediate and will accelerate for the next 12-24 months.
These recommendations are based on multiple considerations, including:
•The timelines that suppliers face in opening facilities in Central Ohio
•Newmark’s experience working with semiconductor businesses across the country
•Our Dublin community tour and assessment
•Analysis of clustering patterns of the semiconductor supply chain across the country
•Conversations with communities that have successfully attracted semiconductor
suppliers.
The 17 recommendations span across 5 themes,
with suggested High, Medium, and Low priorities.
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Num.Category Recommendation Priority Notes
1.Development
Planning
Create an inventory of all vacant lands and City-
owned parcels that could potentially be
(re)developed for semiconductor sector and other
high-priority uses.
High
The City does not have a comprehensive inventory of private
and public land that could be (re)developed for investment
attraction purposes. The inventory should identify all
privately-owned parcels (not just broker listed options). Site
capacity studies should be prepared for all high-priority
options, not just office uses. Private property owners should
be encouraged (possibly through incentives) to undertake
required due diligence studies.
2.Development
Planning
Develop an annexation and infrastructure service
strategy for lands west of the city as part of the
current Community Plan update.
High
For annexation to move forward, the City, at a minimum,
should develop a plan that identifies which parcels could be
annexed in the future, who owns each parcel, and what utility
requirements each parcel could have. Discussions should
occur as part of the Community Plan update.
3.Development
Planning
As part of the Community Plan update, identify any
areas of the community that could be rezoned to
allow development by right, rather than requiring
additional approval.
High
Much of the city's land does not allow for development by
right and must receive additional approval. The City should
reassess whether areas requiring additional approval are
necessary, and if not, remove this uncertainty to encourage
new development.
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Num.Category Recommendation Priority Notes
4.Marketing Generate semiconductor-focused content for the
Dublin Economic Development webpage.High
Dublin's Economic Development page must be updated to
market directly toward semiconductor suppliers using the
strengths outlined in this report. The industry should be
clearly identified as a priority on the website, noting Dublin's
proximity to New Albany. The website should also declare
Dublin as development ready. Note the presence of existing
high-tech companies and provide a "call to action" for
suppliers to be a part of the cluster build -out happening in
Dublin.
5.Marketing
Identify a set of tech-focused
companies/manufacturers that could serve as
ambassadors for future site selector visits.
High
The City should identify a set of companies that can be relied
upon to "sell" Dublin to site selectors. The City should
maintain regular contact with these companies and conduct
preparatory meetings prior to site selector visits to ensure a
unified message is told about the benefits of Dublin.
6.Marketing
Identify the top sites in each of Dublin's community
areas/districts that should be the emphasis for
marketing.
High
Using the District Assessments as a foundation, identify a set
of top sites to be marketed to semiconductor prospects.
Review these sites for any deficits (utilities, transportation,
zoning) and work to address deficits where possible.
7.Marketing
Organize familiarization (“fam”) tours for site
selectors and companies around major events.
Consultants can be targeted through the Site
Selectors Guild, and company prospects in the
semiconductor supply chain can be identified in
association with One Columbus and JobsOhio.
Medium
Organize semiconductor site selector visits around major
events such as the Dublin Irish Festival or Memorial Golf
Tournament to exhibit quality of life amenities to site
selectors.
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Num.Category Recommendation Priority Notes
8.Marketing
Develop a list of semiconductor prospects in other
communities and proactively market Dublin to those
prospects.
Low
Develop prospect lists based on conversations with One
Columbus and JobsOhio, the City’s partners that have the
most details on Intel’s supply chain. Also consider visiting
other semiconductor communities for market intelligence.
9.Marketing
Attend key semiconductor trade shows to market
Dublin as a community of choice for semiconductor
business relocation. The leading event in North
America is SEMICON West. Other event schedules
can be sourced through the semiconductor industry
association called Semi (www.semi.org), and
through JobsOhio.
Low
Prospects at trade shows may differ from prospects through
JobsOhio or One Columbus, offering more opportunity to
attract suppliers than working through RFPs/RFIs alone.
10.Organizational
Create a rapid response team for semiconductor
projects. This team might include representatives
from Economic Development, Planning, Engineering,
the City Manager, and Planning & Zoning
Commission.
High
Time-to-market will be a critical factor for attracting
semiconductor suppliers to Dublin given Intel's aggressive
project timeline. The City should develop a "rapid response"
team to ensure it responds to RFI/RFPs and development
inquiries as quickly as possible to improve chances of
attracting suppliers.
11.Organizational
Hold regular internal collaboration meetings between
Economic Development, Planning, Engineering, and
Transportation and Mobility to coordinate goals and
efforts, and to discuss the City’s prospect pipeline in
order to ensure the City can respond quickly and
effectively to leads.
Medium
Attracting a major semiconductor project will require a high
level of cooperation and understanding among City
departments. Greater communication between all
departments will help ensure the best response to prospects.
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Num.Category Recommendation Priority Notes
12.Site Readiness
Develop industrial/flex/lab-focused property capacity
studies for priority sites. Encourage private property
owners (possibly through incentives) to undertake
required due diligence studies.
High
The City has developed property capacity studies focused on
office development. These studies are helpful for site
selectors to understand the City’s intention and development
feasibility. The City should develop property capacity studies
with a focus on other uses (lab, flex/light industrial) where
feasible.
13.Site Readiness
Continue to cultivate relationships and information
sharing protocols with utility providers to improve
readiness to handle complex project inquiries.
High
Continue to foster a strong relationship with utility providers.
Ensure that providers will respond to inquiries and contribute
to the completion of property capacity studies the moment
that they are needed.
14.Site Readiness Conduct water/sanitary sewer capacity studies in
West Innovation District Medium
Water and sanitary sewer capacity were cited as major
constraints in the West Innovation District, although the
extent of the issue is not fully known. The City should
conduct an engineering study to determine what capacity
could be supported at sites across the district.
15.Site Readiness
Demonstrate that the City is not only responsive to
inbound project opportunities but can also improve
its ability to satisfy information requests from
complex project inquiries and execute projects with
speed and certainty when semiconductor prospects
arise.
High
State and regional leadership do not see Dublin as a key
player in the future semiconductor supply chain. The City
needs to improve the way that economic development
partners view Dublin’s ability to complete projects with the
pace and confidence required by semiconductor suppliers.
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Num.Category Recommendation Priority Notes
16.Workforce
Continue to engage with Dublin City Schools to
support their expansion into semiconductor
manufacturing training for high school students.
Medium
Emerald Campus has expressed interest in expanding its
programming into advanced manufacturing, and Tolles is
already active in technical education. The City should
cultivate its relationships with both entities and support the
development of this programming.
17.Workforce
Continue to cultivate two-way relationships with
higher education institutions to (1) amplify the
positive messages that the schools can deliver about
Dublin, and (2) improve the City’s ability to deliver
value to its own businesses and new semiconductor
prospects.
Medium
City staff should continue to deepen their relationships with
area colleges and universities. Being able to call on schools
(and specific programs) when prospects visit will signal
Dublin's intentional approach to attracting semiconductor
businesses. This relationship may also be helpful in
addressing current businesses' unmet workforce needs.
Activities to further cultivate this relationship include involving
Dublin businesses with area Business Advisory Councils,
attending meetings open to economic developers,
communicating local business’ workforce needs to those
institutions, facilitating meetings between “higher ed” and
local high schools, etc.
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