Economic outlook 2011

Mike Jacoby Executive Director

Port Authority – 25 years of Results
Anchor Glass Facility
NorthPointe Business Park – Kelloggs, Time Warner, Autumn Healthcare, Primrose, Finton Equipment
Airport Industrial Park – 5Bs, Plaskolite, White Castle, SEOIL, Atico Internormen, Pharmpak
Autozone
EMCO
EastPointe Park – Dollar General, New Bakery, Bilco & AVON Products

EastPointe Job Ready Site
295 acres total, 100-acre pad
Due diligence done – Phase 1 environmental assessment, soil compaction, utility capacity, title work, survey, wetlands, etc.
$7 million-plus project
1 of first 3 manufacturing sites in Ohio to be certified

Acknowledging Our Challenges
Recession started in 2007 and ended in 2009. Inflation adjusted GDP has still not recovered to pre-recession levels. Double dip possible.
Housing Starts have had the worst 3 years ever.
Stocks had worst quarter in almost 3 years.
August consumer confidence lowest since April 2009

Realities of the Job Market
U.S. unemployment exceeds 9%.
U.S. needs 93,000 jobs created every month for next 24 months to maintain 9% unemployment.
At recent employment growth rates, U.S. will not reach full employment again until 2034.
Fiscal imbalance: 65% of every tax dollar goes to entitlements while only 58% of the population is working.

Conclusion: We Can’t Wait for National Economic Turnaround.

Chesapeake Energy CEO Aubrey McClendon on Utica Shale:
Could be 25,000 wells drilled over several decades representing $200 billion investment
25 billion barrel of equivalent (oil, gas, natural gas liquids)
Go to www.zmcport.com News section for video link

Utica Shale Drilling
As of mid September, 37 horizontal wells permitted and 9 drilled.
Major exploration production companies are already in the region.
Service and supply chain potential is immense.

Projected Economic Impact in Ohio by 2015
September 2011 Ohio Oil & Gas Energy Education Study by Kleinhenz & Assoc.:
3,922 completed wells
$10 million avg. cost per well & pipelines
117,204 direct jobs
Direct & indirect jobs: 203,000
$12 billion increase in gross regional product

Comparison of Eastern Ohio to North Dakota
North Dakota population: 672,591; 15 Eastern Ohio counties pop.: 738,807
Bakken Shale Play has led to economic boom in North Dakota
Within a year, North Dakota is expected to supply more oil for domestic use than the 1.1 million barrels a day that Saudi Arabia now exports to the U.S. – Jeff Thredgold, Tea Leaf
ND has lowest unemployment in country: 3.5%
Hiring bonuses at fast food restaurants

Potential for Zanesville?
Williamsport, PA, named 7th fastest growing city in nation.
Federal data found Williamsport’s change in gross domestic product was 7 th highest of metropolitan areas in 2010.
“ We have a 7.8-percent growth rate ," Vince Matteo, chamber president and CEO, said. " The numbers are obvious. The driving rate is the Marcellus Shale .” – Williamsport Sun Gazette

Thank You
www.zmcport.com
(740) 455-0742

Economic outlook 2011

by ZMCMike on Oct 05, 2011

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Economic outlook 2011 — Presentation Transcript