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PRESS
RELEASE: Ohio Leads U.S. in New Plants & Expansions
COLUMBUS, OH, MARCH 2, 2006: Today, the Ohio Department of Development
released the 2006 national rankings of new capital investment in
the United States
based on the annual analysis by Site Selection Magazine. The Report
shows that
there were 431 new investment projects by national and international
companies in
Ohio in 2006. Total capital investment in Ohio last year is estimated
at over $4
billion.
Site Selection Publisher, Conway Data, has been tracking new business
investment
for over forty years. Each qualifying project involved an investment
of over $1
million, the creation of 50 jobs or an investment in new floor space
of at least
20,000 square feet.“New capital investment by the private sector
in facilities and equipment is vital tothe future growth of our State.
These 431 projects represent companies have acknowledged that Ohio
is the best location in the United States to build their business.
Ohio’s continued success is due to our strategic location,
the State’s tax and tort reform efforts, and the high quality
professional support of our State and local economic development
organizations.” says J.C. Wallace, Executive Director
of the OEDA.“On behalf of the Ohio Economic Development Association,
I want to congratulate local economic development organizations throughout
the state, their directors and their staff for the outstanding work
that they did this past year. This award is a very direct result
of the dedication and responsive performance of these individuals
on the front lines of economic development,” said Jim Doutt,
President of OEDA. “This
recognition also reflects very well on the level of performance from
Ohio’s local and
state elected officials and the staff of the Ohio Department of Development.
Looking forward, it is important that we capitalize on this momentum
and make
every effort to collaborate consistently and effectively with the
Strickland- Fisher
Administration. These are exciting times in Ohio and 2007 promises
to be a great
year.”
“The results of this report demonstrate that not only are
the advantages of locating
in Ohio’s larger cities being recognized but our smaller communities
are also being
successful at attracting new plants and, even more importantly, expanding
their
existing facilities,” says, Mr. Wallace. “Having four
of the top twenty micropolitan
areas in the United States shows that world-class companies are investing
and
being successful in Ohio’s smaller communities because of our
highly skilled, stable
and motivated workforce, our location to their most important customers
and a
really great quality of life,” states Mr. Greg Myers, the Economic
Development
Director of the Wapakoneta Area Economic Development Council.
“This report shows that Ohio is also continuing to attract
a diversity of high tech
companies and professional businesses to the State, such as new investments
by
pharmaceutical companies and information technology and insurance
operations. We
hope to dramatically increase our success through new collaborations
between the
newly formed Team Ohio, a division of the OEDA, the Ohio Business
Development
Coalition and the Ohio Department of Development,” states
Mr. Wallace.
Ms. Karen Craddock, the Chair of Team Ohio and Project Manager in
the Economic
Development Department of Duke Energy, states ”The Team Ohio
membership
represents the most progressive regional and local economic development
organizations in the State who invest millions of dollars a year
to promote Ohio and their
communities. Team Ohio members include bankers, developers, chambers
of
commerce, regional economic development groups and other private
and public sector
partners, who work every day to make Ohio a great place to live,
work, play, and invest.
The economic development successes of Ohio businesses and communities
in 2006
and the continued interest
the State tax structure, indicate that Ohio businesses and communities
are becoming
even more competitive.”
The Ohio Economic Development Association (OEDA) is a non-partisan
membership organization representing over 430 economic development
professionals and non-professionals interested in Ohio’s economic
development
efforts. For more information about the OEDA and TEAM OHIO, please
contact Mr.
J.C. Wallace.
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