Group plans to end deal to invest in Delphi, by Terry Kosdrosky Wall Street Journal, April 4, 2008 (Subscription)
Detroit—A group that had planned a $2.55 billion equity investment in auto-supplier Delphi Corp. said it's pulling out of the pact, dealing the company a setback as it looked to put the finishing touches on its exit from Chapter 11. Delphi said it will continue to work with GM and its other stakeholders to emerge from Chapter 11 "as soon as practicable."

Goldman Sachs calls off acquisition of Myers Industries, Cleveland Plain Dealer, April 4, 2008
Akron—The acquisition of Myers Industries Inc.has been called off. The company said it was notified that GS Capital Partners does not intend to proceed with the deal. The company said the merger plan, agreed to nearly a year ago, was terminated April 3.

Plan to boost Ohio job growth unveiled, by William Hershey, Dayton Daily News, April 4, 2008
Columbus— The $1.57 billion economic stimulus package announced by Democratic Gov. Ted Strickland and Republican legislative leaders promises a better Ohio. Economist Edward Hill of Cleveland State University called the plan the "largest jobs-oriented package that the state of Ohio has put out in a quarter of a century."

GM puts electric-car testing on fast track to 2010, by Terry Kosdrosky and John D. Stoll, Wall Street Journal, April 4, 2008 (Subscription)
Detroit—General Motors Corp. will road-test technology needed for its heavily promoted Chevrolet Volt electric car this month. The auto maker is rushing to bring the Volt to the U.S. market by November 2010 in the hope that a significant advance in fuel-efficient technology will lift GM's standing with consumers.

Housing market doesn't drag down RPM profits, by Robert Schoenberger, Cleveland Plain Dealer, April 4, 2008
Medina—Even in the midst of the worst housing market in more than 30 years, paint and sealant company RPM International Inc. in Medina on Thursday reported record sales and profit. RPM's brands include Rust-Oleum spray paints, Dap sealants and caulk and Zinsser paints.

Akron company is award finalist, by Paula Schleis, Akron Beacon Journal, April 4, 2008
Akron—Summit Data Communications, a tenant of the Akron Global Business Accelerator, is one of two finalists in the National Business Incubator Association's nation-wide annual competition. The two-year-old company makes special-use wireless radio cards.

300 workers to be idled in closure of Modine plant, by Larry P. Vellequette, Toledo Blade, April 4, 2008
Pemberville, Ohio—Modine Manufacturing Co. told employees at its 183,800 square-foot facility here that it will be closed by 2010 as part of a companywide restructuring plan. The company also announced plant closings in Camdenton, Mo., and Logansport, Ind.

Fremont firm centered in space, Toledo Blade, April 4, 2008
Fremont, Ohio—Sierra Lobo Inc. recentlky won a prestigious award from NASA. The $35-million company, with headquarters in Fremont and a product development facility in Milan, is recognized for its work in the aftermath of the Space Shuttle Columbia Disaster and for the International Space Center.

Tooling Technology: Stamper replaces carbide tooling with coated DC53, Metalforming Magazine, April 2008 (PDF)
Toledo—Toledo Technologies, a division of Michigan-based GT Technologies, is featured in this month's issue of Metalforming for its use of a high-performance tool coating and an upgraded tool steel that minimizes die wear and improves surface finish of coined parts.

Registration open for 20/30 Club’s Business Plan Competition, by NEOinc., April 4, 2008
Cleveland—The Cleveland Professional 20/30 Club will host its first annual Business Plan Competition Face-Off Event. After three rounds of judging, the two finalists of the 20/30 Business Plan Competition will have ten minutes to present their business plans on April 24th. The event is supported by COSE, the Civic Innovation Lab, MAGNET and the Ohio Venture Association.

Upcoming Event:

2008 Steel Users Conference, April 28-29, Washington, D.C., Sponsored by the American Institute for International Steel and the Consuming Industries Trade Action Coalition.

Ohio Lt. Gov. Lee Fisher backtracks on selling Lake Erie water, by Michael Scott, Cleveland Plain Dealer, April 2, 2008
Columbus—Lt. Gov. Lee Fisher tried to mop up his own mess Tuesday - a day after stunning conservationists by suggesting Ohio might someday sell Lake Erie water to drought-stricken fellow states.

Data for manufacturing, construction remain weak, by Eileen Alt Powell, AP via Cleveland Plain Dealer, April 2, 2008
New York—The Institute for Supply Management said Tuesday that manufacturing contracted for a second consecutive month in March as manufacturers grappled with weakening orders and rising prices for raw materials.

Goodyear hosts engineering career day for young women April 19, Cleveland Plain Dealer, April 2, 2008
Akron—The Goodyear Tire & Rubber Co. will host its eighth Engineering Career Day for Young Women on Saturday, April 19, at the company's headquarters. Find out how to sign up for this free event for students in grades 6 through 12.

University startup companies rise in Ohio, by Paula Schleis, Akron Beacon Journal, April 2, 2008
Akron—Ohio universities, hospitals and research institutions launched 23 startup companies in 2006, making it the seventh most active state in the country, according to a new survey released by the Association of University Technology Managers (AUTM.)

Study: Youngstown 11th least-costly, Youngstown Vindicator, April 2, 2008
Youngstown—Youngstown ranked the 11th least-costly place to do business among 18 midsize U.S. cities/locations with populations between 500,000 and 1.5 million, according to a study by KPMG.

New RTI headquarters, Youngstown Vindicator, April 2, 2008
Pittsburgh—RTI International Metals’ executive officers and corporate and commercial staff moved into the firm’s new global headquarters in Pittsburgh. RTI, formerly based in Weathersfield, Ohio, moved its headquarters in part for easier access to the international travel.

Toyota to expand presence in Ann Arbor, Toledo Blade, April 2, 2008
Tokyo—Toyota Motor Corp. announced plans yesterday to invest $100 million over the next four years in a new transportation-research center on its technical campus near Ann Arbor.

Tough Decisions: Lt. Governor Fisher's visit raises possibility of selling Great Lakes water, by Tom Troy, Toledo Blade, April 1, 2008
Toledo—Lt. Gov. Lee Fisher said yesterday the Great Lakes region may have to decide in less than a decade whether to sell water to other parts of the country that need it. Saying that his and Gov. Ted Strickland's first priority is to protect and conserve the world's largest body of fresh surface water, Mr. Fisher left open the question of whether it would be wise to make the water from the Great Lakes available to other states and even to other countries.

Future hot Ohio jobs predicted, by Paula Schleis, Akron Beacon Journal, April 1, 2008
Cleveland—Team NEO released its quarterly report on the fastest growing career sectors in the region. The report suggests computer, math, education, health, business, finance or science fields will be at the forefront of job creation. The authors also indicate that, despite a predicted decline in manufacturing production jobs, manufacturing output in the region will grow in value to $45 billion in 2017 — a 22 percent gain over last year.

Lt. Governor Fisher announces opening of new Beijing office, Ohio Department of Development press release, April 1, 2008
Columbus—Lieutenant Governor Lee Fisher today announced the opening of the Ohio Department of Development’s new international office in Beijing, People's Republic of China. The office is managed through the Department’s Global Markets Division, formerly the International Trade Division.

Pickens Plastics new owners get tax credit approved by state, Ashtabula Star Beacon, April 1, 2008
Jefferson, Ohio—The Ohio Tax Credit Authority Monday approved a seven-year 50 percent tax credit for Pickens Plastics for the creation of 145 new full-time jobs. As part of the agreement, the authority requires Sigma U.S. Industries to maintain operations at the factory for at least 14 years.

Related:

Ohio awards tax credits to area companies, Toledo Blade, April 1, 2008
Columbus—The Ohio Department of Development’s Ohio Tax Credit Authority announced approvals yesterday for tax credits intended to lure new employers and allow existing companies to expand. Xunlight Corp., of Toledo won a tax credit worth more than $1 million.

Job creation tax credits approved for business expansion, Ohio Department of Development press release, March 31, 2008

Coking plant's backers say facility still a go, by Tom Henry, Toledo Blade, April 1, 2008
Toledo—FDS Coke LLC is still committed to building its proposed $800 million coking facility and co-generation power plant near Maumee Bay, despite veering off yet another projected groundbreaking date and being confronted by a new round of appeals.

American Axle looking to speed up talks with UAW, by Terry Kosdrosky, Dow Jones Newswires, April 1, 2008 (Subscription)
Detroit—American Axle & Manufacturing Holdings Inc., looking to speed up talks aimed at resolving a strike that's lasted more than a month, said Tuesday that it gave the United Auto Workers information that the union requested.

Related:

Supplier asks laid-off workers back, by Jim Irwin, AP via Cleveland Plain Dealer, March 30, 2008
Detroit—American Axle and Manufacturing Holdings Inc., idled for more than a month by a United Auto Workers strike, advertised in Sunday newspapers for potential replacement workers. The UAW responded by calling for a mass picket Monday outside the auto supplier's Detroit headquarters.

Workers' Comp bureau approves 5% premium cut for private insurers, Cincinnati Business Journals, March 31, 2008
Columbus—The Ohio Bureau of Workers' Compensation has approved a 5 percent overall private-sector premium rate cut starting July 1. It is the first reduction in premium rates for private employers in seven years.

Some Ohio business people are big fans of NAFTA, by Elizabeth Auster, Cleveland Plain Dealer, March 31, 2008
Washington—Ohio's recent presidential primary attracted press reports about the state's economy and the supposed negative effects of NAFTA. However, Ohio Department of Development figures show that Ohio is the only state in the nation that has seen exports increase every year since 1998. Ohio exported $42.4 billion worth of merchandise last year, an 11 percent jump from 2006. Exports from the Cleveland metropolitan area alone, which stretches from Elyria to Mentor, totaled $8.3 billion in 2006, a 17 percent jump from 2005.

Economic development loans create jobs in Ohio, Ohio Department of Development press release, March 31, 2008
Columbus— Lieutenant Governor Lee Fisher today announced that loans valued at more than $19 million have been recommended by the Development Financing Advisory Council to support eight economic development projects. The funds, which are pending State Controlling Board approval, are expected to retain 238 positions and create 324 jobs.

Steris cutting jobs to save $30 million a year, by Mary Vanac, Cleveland Plain Dealer, March 31, 2008
Mentor, Ohio—Steris Corp. said this morning that it would cut an unspecified number of jobs, largely in North America, under a new program to save about $30 million a year in operating costs. The company also expects to reduce its goods and services consumption and to consolidate service providers.

Learning while he leads, by Lou Willin, Findlay Courier, March 31, 2008
Findlay—Roy Armes, who became president of Cooper Tire & Rubber Co. a year ago after a 31-year career with Whirlpool, said Cooper's future in the United States will depend on how well the company increases automation and efficiency, and innovates in product design. He also said the company will make 35-45 percent of its tires in lower-wage countries in three to five years.

Lima Refining Co. and Husky Energy donate $90,000 to local nonprofits, LimaOhio.com, March 31, 2008
Lima—The Lima Refining Co. and its parent company, Husky Energy Inc., donated $90,000 to be split between the Allen County Health Partners, the Children’s Development Center of Lima and the Bradfield Community Association.

Editorial: Old Ohio or New Ohio?The governor faces a revealing choice, Akron Beacon Journal, March 30, 2008
The ABJ editorial board says Governor Ted STrickland's compelling language in his State of the State address contrasts sharply with his recent "timidity" in proposing measurable benchmarks that would advance the alternative and renewable energy sectors. The editorial proposes that there is a struggle going on between "Old Ohio" and "New Ohio" in the governor's mind.

Moving port to new location on the horizon, by Paula Schleis, Akron Beacon Journal, March 29, 2008
Cleveland—Plans call for the 100-acre port to move from downtown to the shore off East 55th Street, on 200 acres that would be built from mud dredged from Lake Erie's shipping channel.