Despite COVID-related disruptions, Team NEO says region poised for strong economic development

Business development organization Team NEO has some standout numbers so far in a difficult year, having assisted with $2.5 billion in new capital investment from 44 economic development projects estimated to generate more than 4,200 jobs and $225.8 million in annual payroll.

And the organization’s CEO, Bill Koehler, is optimistic about the region’s economic landscape for next year and beyond.

“We expected there to be some very significant disruption in the economy, which has happened for a lot of companies,” Koehler said in an interview. “But what is interesting is that some of that disruption transformed into very significant strategic pivots on the part of a number of companies that found ways to use it to grow.”

In its role as a regional economic development driver, Team NEO works with public and private partners to “accelerate business growth and job creation throughout the 18 counties of Northeast Ohio,” which includes

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Cloud Capex Looks Poised to Grow Strongly in 2021

Though cloud capital spending is taking a breather right now, there are a lot of signs suggesting that spending will start growing again in early 2021.

In a note released on Monday morning, Mizuho Securities reported that Asian supply chain checks and talks with U.S. hardware OEMs pointed to a strong rebound in cloud server spending in the first quarter and first half of 2021, following a soft Q4.

Analyst Vijay Rakesh estimates that data center capex among internet/cloud giants (i.e., hyperscalers) could be up 10% to 15% sequentially in Q1. Facebook  (FB) – Get Report and Microsoft  (MSFT) – Get Report in particular were singled out as hyperscalers expected to strongly grow their capex in early 2021.

Facebook, it’s worth noting, has guided for total 2021 capex of $21 billion to $23 billion, well above expected 2020 capex of roughly $16 billion. This forecast covers

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The world’s largest wealth manager names 4 sub-sectors poised to be the ‘next big thing’ for investors

Wall Street coronavirus

  • After tech and consumer discretionary sectors dominated the last decade, investors should look elsewhere for the next market leader, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.
  • After a decade of outperformance, the sectors have a 25% chance of becoming one of the two worst-performing groups over the next 10 years, UBS said. They only have an 8% chance of repeating their previous outperformance.
  • “We think the next decade will reward investing in the disruptors in sectors undergoing technological transformation,” Haefele said.
  • Here are the 4 sectors set to be the “next big thing,” according to the world’s largest wealth manager.
  • Visit the Business Insider homepage for more stories.

Investors should look elsewhere for the “next big thing” following a decade of tech-sector dominance, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.

Since 1973, sectors that led the market over an

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