Columbus Only Midwest City That Grew More Than 100,000 People Since 2010
This report is a summary of third-party economic research and perspectives to foster communication with business and economic development stakeholders during the COVID-19 crisis.
Key Economic Insights
- Global: Economists project the U.S. to outpace China in economic growth over the few next quarters.
- U.S.: Goldman Sachs lowered their forecast for U.S. economic growth for 2021 from 6.4% to 6%.
- Ohio: Four Ohio Counties were ranked Top 10 Nationally for Economic Development Among Rural U.S. Counties by Site Selection Magazine.
Ohio Employment & Economic Insights
Positive Company-Specific News
- Google plans to spend $1B expanding its central Ohio data centers.
- First Solar broke ground on its manufacturing facility in Lake Township. The $680M, 3.3-gigawatt facility is scheduled to commence operations in 2023 and will create approximately 700 new jobs.
- Long Ridge Energy Generation Project, a 485-MW facility being equipped to run on a mix of natural gas and carbon-free hydrogen, is nearing completion.
- Xellia Pharmaceuticals manufacturing site in Cleveland is now commercially operational and has released the first anti-infectives manufactured at the site to be distributed for use by U.S. hospitals.
- Resonetics received an economic development grant from JobsOhio to help fund a $7.6M, 40,000 SF expansion in Kettering that will create
- 95 new jobs and generate more than $5M in annual payroll by 2025.
- Western Magnesium decided to locate their first U.S. operation in Harrison County. The company intends to build a 100,000 metric ton plant that will create up to 200 full time jobs.
- MetroNet plans to build a fiber optic network in Beavercreek, bringing symmetrical Gigabit speed internet to the area. This project represents MetroNet’s 11th city build in Ohio.
- STI-TEC was awarded a $23.8M contract for advisory and assistance services in support of the U.S. Army Space and Missile Defense Command’s Satellite Operations Brigade.
- Kinetic Vision began construction on an $11M, 51,000-SF research and development facility at AeroHub, a planned advanced manufacturing innovation district in Evendale.
- Buckeye Health was awarded a Medicaid contract by the Ohio Department of Medicaid to continue serving members with healthcare, coordinated services, and benefits.
Negative Company-Specific News
- Speedway plans to sell 48 locations across the state.
- The Andersons sold its railcar leasing business to American Industrial Transport, Inc. (AITX) for approximately $550M, and intends to sell off its remaining railcar repair business, including 29 U.S. facilities.