Ohio’s economy is improving – and our state’s oil and natural gas industry is leading the way. As the national unemployment rates continue to struggle, Ohio is experiencing significant job growth. One example, in just one year the state has gone from 48th to 4th among all states in terms of job creation.

A sign of things to come, much of this growth has come from the development of  the Utica Shale, and the manufacturing industry that supports it.

We’ve already discussed the return of steel to Ohio – a return brought on to meet the demands of a burgeoning industry in oil and gas – and we continue to see the positive impacts it’s having across the state.

Last week, JobsOhio President Mark Kvamme sat down with the Lima News and highlighted this impact and what effect it is having on our economic rebound, especially in areas on the eastern side of the state where this development is taking place.

We’re seeing improvement across all our key industry groups and continued capital investment. A big chunk of it is happening on the east because of the Utica Shale. We’re also top four in the nation in job creation. Things are going in the right direction. – Mark Kvamme (State’s economy improving, JobsOhio president says, 8/14/12)

It should come as no surprise. Recently, Energy in Depth Ohio highlighted the decline of unemployment rates in areas of development, a trend that is sure to continue as this development continues to expand.

And, as Ohio’s unemployment rate improves at a greater pace than the national average, we are also seeing shale development’s role generating tax revenue – particularly in areas that have struggled in previous years.

As reported in the Youngstown Vindicator, shale development is having an immediate impact generating much needed revenue across the Mahoning Valley.

From the story:

Both Mahoning and Trumbull counties generally posted modest year-over-year gains in March, April and May, the latest months for which data is available,

But in Columbiana County, where a flurry of shale activity is occurring, sales-tax revenues increased by more than 10 percent in each of the months, as reported by the state. (Shale booms, sales zoom, especially in Columbiana County, 8/15/12)

This ‘flurry’ – and the increase in jobs, investment, and revenue it is bringing the region – is not lost on the business community, a point made by Terry McCoy, chairman of the business development committee at the Columbiana Area Chamber of Commerce.

READ THE REST: http://www.eidohio.org/shalebenefits-revenue-up-unemployment-down/