Wednesday, February 19, 2014

More Good News On the Way for Stark County's Economy, Research Reveals

Sales receipts in Stark and surrounding counties were boosted by shale activity in 2013, reflective of a massive $8 billion investment spree taking place in Ohio due to the Utica Shale play.

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Edward (Ned) Hill, dean of the Maxine College of Urban Affairs at Cleveland State University, recently led a webinar on the status ofthe Utica shale’s development. He indicated that more gains are anticipated as a result of drilling in the state.

Hill (pictured) also had good news for Stark County in his department’s most recent edition of the Ohio Utica Shale Gas Monitor, dated January 10. CSU includes Stark among the moderate shale counties at this point, along with Mahoning, Portage, Trumbull and Tuscarawas counties.

The report said that sales receipts through August 2013 in those counties increased by 10.7% over the second quarter of 2012. “Increased sales reflect spending by land and mineral rights owners as well as spending of out-of-state workers because hotel and lodging bills are subject to the sales and use tax in Ohio, as are restaurant meals,” it concluded.

The report indicated that the larger metropolitan areas of Akron-Canton and Youngstown-Warren are benefiting because they have a stronger retailing presence than the counties that are currently the center of the most drilling activity.

This is what the Stark County Oil & Gas Partnership has been promoting as we continue to point out why Stark County is a great place to live and establish a business presence.

Click here to read the CSU report: Ohio Utica Shale GasMonitor – Jan. 10, 2014