In 2007, Canada and Ohio enjoyed a mutually beneficial relationship as bilateral trade climbed to $34.5 billion. The state supplied its northern neighbor with just over $19 billion in merchandise — mainly transportation products, and bought $15.4 billion worth from Canada, led by energy goods, metals, and transportation products. Moreover, Ohio shipments to Canada for this period — $19 billion worth — accounted for more than $1,600 for every single man, woman and child in Ohio!
Canada was also Ohio most important international destination, purchasing 46% of the state’s foreign–bound goods. The value of Ohio exports to Canada was twice that to Mexico, Japan, China, the UK and Germany, combined.
Ohio depends on transportation-related trade for half of its exports to Canada. Ohio supplied its partner with $5.2 billion in motor vehicle parts and engines and another $2.6 billion in automobiles. Ohio automotive manufacturers also looked to Canada for autoparts, importing a further $2 billion worth, which were used to assemble vehicles made-in-Ohio. The integrated marketplace in transportation goods and components contributed to ‘just in time’ inventories and benefitted consumers on both sides of the border. In fact, more than one out of every five Ohio manufacturing jobs relies on its export markets — and that means Canada.
In 2007, Ohio looked north to Canada to meet energy consumption. The state bought $3.1 billion in energy supplies. Ohio imported almost $3 billion in crude petroleum — primarily from the western province of Alberta — shipments destined for Ohio refineries. Canada’s oil helps power Ohio’s economy and reduces its dependence on less secure sources.
In 2007, Canadians made 592,000 visits to Ohio and contributed $132 million to the state’s economy, an increase of $31 million from the previous year. Residents of Ohio made 675,500 visits to Canada and spent $277 million.
Private equity firm The Riverside Company of Cleveland has acquired Polar Window of Canada Ltd. — a Winnipeg, Manitoba–based supplier of doors and windows. Polar operates seven plants in Canada and sells under the Ray-O-Max brand name. Polar currently serves the Winnipeg, and Alberta markets, but Riverside will seek add-on acquisitions to further Polar’s geographic reach.
Eaton Corporation (Cleveland, Ohio) purchased the assets of Babco Electric Group (Edmonton, Alberta), a Canadian maker of switchgear and electrical housing for use in the oil and gas industry. The acquisition provides access to established distribution channels and customers in Canada with a strong focus on the oil sands markets, as well as increased engineering and production capabilities.
The Cleveland Clinic’s first satellite facility, the Toronto Health and Wellness Centre, operates in Toronto’s BCE Tower through a partnership with the Candian-owned Copeland Group. The Centre provides comprehensive executive physicals, as well as health and wellness consulting in the areas of nutrition, illness prevention, exercise prescriptions and stress management. All services offered at the Toronto Health and Wellness Centre are performed by Canadian physicians and other medical professionals. The Cleveland Clinic is the second-largest medical group in the United States. The Toronto Centre operates as a private clinic and clients are billed on a fee-per-service basis.
June 2008
