Columbus is home to a host of Fortune 500 and Fortune 1000 companies, but it’s also an oasis of countless startups. So how is one of the capitals of the Midwest competing with juggernauts like New York, San Francisco, and Atlanta?
A Startup Community
Columbus boasts an innovative infrastructure, so startups have it made in the shade. The available investment capital and deal flow are bolstered by internationally recognized research institutions like OhioHealth and The Ohio State University.
Opportunity breeds more opportunity, and established corporate communities are all for supporting the continuous stream of startups that are permeating Columbus’ economy. The partnerships between state and local government, corporations, and investors has created an economic environment that’s ripe for the picking.
Private And Public Partnerships
With companies like Nationwide, State Auto Insurance Companies, Worthington Industries, and Grange Insurance headquartered in Columbus, new businesses have the lion’s share of available investment funds.
Grange Insurance and State Auto created the perfect storm for those who venture to Columbus to break new ground. These companies created investment funds that provide new businesses with capital support and industry expertise. And Columbus has a track record of successful public-private partnerships.
After the city was awarded $40 million through the federal Smart City Challenge, the private sector brought the total to $500 million to change the city’s transportation system. Columbus also has lower startup costs and investor incentives that are proving attractive to new businesses.
The Available Workforce
For all its industry and innovation, Columbus is a college town with OSU boasting tens of thousands of students on its main campus. Columbus has also become one of the top cities for college graduates looking to break into the workforce.
The working-age population has grown almost 10 percent over the last five years, and unemployment continues to drop. Recent graduates are flocking to the city looking for positions in software engineering, application design, and data science, creating a readily available workforce.
DRK and Company are committed to providing our clients with insight and investment opportunities throughout the Columbus metropolitan area. Call 614-540-2404 or contact us online to get in touch with a member of our team to learn more.