Biotech Creates 1,200 Jobs + What To Do This Weekend

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In today's newsletter:

• Biotech Industry Creates 1,200 High-Paying Jobs in Central Ohio

• OSU Slowing Campus Construction After Historic $6B Building Boom

• Regional Housing Coalition Seeks 200,000 New Homes in Next Decade

• Columbus Zoo Postpones Opening of $40M North America Trek

SPONSORED BY: GT REAL ESTATE GROUP

BIOTECH INDUSTRY CREATES 1,200 HIGH-PAYING JOBS IN CENTRAL OHIO

Central Ohio's emergence as a biotech hub continues to transform the regional economy with significant job growth. [Columbus Business First]

Key Highlights:

• Four biotech companies have created 1,200 high-paying jobs in the region

• Industry that wasn't on economic development radar a decade ago now thriving

• Companies include Sarepta Therapeutics, Forge Biologics, Andelyn Biosciences, and Amgen

• Ohio offers 20-30% lower costs for biotech operations compared to coastal hubs

Industry Growth:

• Forge Biologics employs over 370 people at Grove City facility

• Sarepta's R&D facility near Easton has more than 200 employees

• Andelyn Biosciences employs 230+ across OSU innovation district and Dublin

• Amgen recently announced expansion to 750 jobs in New Albany

What Makes It Special:

• Success of gene therapy treatments developed in Columbus

• Strong university partnerships with OSU and Columbus State

• Venture capital firms like Drive Capital now investing in biotech

• Lower operational costs making region more competitive nationally

This growth represents a significant shift in Central Ohio's economic landscape, diversifying beyond traditional industries and creating high-value career paths for local talent. Despite one recent closure (AmplifyBio), the overall trajectory remains strongly positive with continued investment and expansion plans.

For real estate investors, areas surrounding these biotech hubs continue to see increased demand for both commercial and residential properties, with employees seeking housing options with reasonable commutes to these facilities.

OSU SLOWING CAMPUS CONSTRUCTION AFTER HISTORIC $6B BUILDING BOOM

After a decade of unprecedented construction, Ohio State University plans to focus more on renovation and maintenance. [Columbus Business First]

Key Highlights:

• University completing $6 billion in construction over past decade

• $1.9 billion new main hospital tower for Wexner Medical Center opening next year

• Future focus shifting to repairs and renovation of aging infrastructure

• Private development to drive growth in west campus innovation district

New Priorities:

• Planned Commercialization and Entrepreneurship Center will be last major academic build

• $268 million in new projects in five-year interim plan

• $12 million in upgrades to nursing college's Newton Hall

• $10 million in upgrades to older north-campus dorms

Innovation District Plans:

• 350-acre Carmenton district to see continued development

• Private developers to lead through land leases

• Partnerships with major employers like Honda, Intel, and Anduril

• Artificial intelligence research becoming key focus

President Ted Carter emphasized this strategic shift as "just being smart," acknowledging the need to maintain existing infrastructure across OSU's extensive footprint. The university's plans also signal a stronger emphasis on public-private partnerships to drive economic development in the region.

This transition creates interesting opportunities for private developers looking to participate in the west campus innovation district, where growth will continue despite the slowdown in university-led construction elsewhere.

REGIONAL HOUSING COALITION SEEKS 200,000 NEW HOMES IN NEXT DECADE

Columbus commits to building half of needed housing units as surrounding communities are asked to step up. [The Columbus Dispatch]

Key Highlights:

• Central Ohio needs 200,000 new housing units in next decade

• Columbus pledges to build 100,000 units

• Region issued only 10,474 housing permits last year, far short of 19,000 annual need

• Housing shortage compounds annually since Great Recession

Community Responses:

• Delaware has issued permits for nearly 5,400 residential units since 2013

• Grove City approved nearly 4,100 units in same period

• Some fully developed suburbs like Bexley face challenges with limited space

• Technical support offered to smaller communities through Regional Housing Coalition

Growing Challenges:

• Housing shortage pushing up home prices and rents

• Intel, Anduril, Amgen and Honda expansions increasing demand

• Some communities face infrastructure limitations

• Citizen opposition remains obstacle in some areas

Mayor Andrew Ginther emphasized that suburbs don't need dramatic increases, suggesting that "if everybody does about 10% more every year for the next 10 years, we can do this." The coalition aims to provide resources and support to help communities reach these targets.

For homeowners and investors, this continued supply-demand imbalance suggests property values will likely continue climbing, particularly in areas with strong job growth and development-friendly policies.

COLUMBUS ZOO POSTPONES OPENING OF $40M NORTH AMERICA TREK

The Columbus Zoo and Aquarium has delayed the opening of its new major expansion. [Columbus Dispatch]

Key Highlights:

• Opening postponed from original May 23 date

• New anticipated opening in late June

• Delay follows incident where construction crews cracked viewing window

• Heavy seasonal rain contributed to timeline adjustment

Project Details:

• $40 million investment in eight-acre expansion

• One of largest zoo projects in over a decade

• Focus on North American wildlife and habitats

• Designed to be an immersive visitor experience

Zoo's Response:

• Decision reflects commitment to animal welfare

• Additional time allows animals to acclimate to new habitats

• Zoo remains open with all other attractions available

• New opening date to be announced when determined

This delay, while disappointing for summer visitors, demonstrates the zoo's prioritization of animal welfare and quality visitor experience. The North America Trek represents a significant investment in one of Central Ohio's premier attractions and will enhance the zoo's national reputation upon completion.

ASIAN FESTIVAL RETURNS FOR 30TH ANNIVERSARY CELEBRATION

The annual Asian Festival will bring cultural performances, cuisine, and community to Central Ohio. [Official Festival Release]

Key Highlights:

• Two-day event runs May 24-25, 2025

• Festival hours are 10 AM - 8 PM Saturday and 10 AM - 6 PM Sunday

• More than 100,000 visitors expected to attend

• Event has received strong community support since 1995

Festival Features:

• Dragon Boat Races return as signature attraction

• Comprehensive festival gallery showcasing Asian cultures

• Table tennis tournaments and demonstrations

• Diverse food vendors representing various Asian cuisines

Mission and Values:

• Promoting cultural diversity in building vibrant communities

• Showcasing cultural heritage and lifelong learning

• Providing entertaining and educational experiences

• Fostering healthy lifestyles and community collaboration

For festival organizers and supporters, this milestone anniversary represents an opportunity to reflect on the growing impact of Asian cultures across the region while creating new connections between diverse communities.

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THIS WEEK'S WRAP-UP

Home owners: The continued growth of biotech jobs and persistent housing shortage suggests steady property value appreciation, especially in areas near employment centers and with good school districts.

Home buyers: Consider emerging neighborhoods near innovation districts and biotech hubs, where infrastructure investments are following job growth but housing prices haven't yet peaked.

Bottom line: Central Ohio's diverse economic development continues to outpace housing construction, creating both challenges and opportunities across the region. The combination of high-paying jobs, institutional investment, and quality of life amenities continues to attract newcomers despite housing constraints.

Thinking about making a move? Let's chat and connect you with our partners!

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See you next week,

— Gagan Timsina