The Utica: Driving Growth in Ohio
Responsible development of the Utica shale is benefiting Ohio in a big way, driving significant job and economic growth.
Just last week, IGS Energy announced it will build its ninth compressed natural gas (CNG) fueling station in Obetz, Ohio, as many companies are increasingly converting to CNG vehicles, thanks to the availability of affordable natural gas in the region.
That wasn’t the only good news last week. Columbus Business First also reported that plastics will “benefit significantly” from development in the Utica Shale. As Advanced Drainage Systems CEO Joe Chlapaty said, “(There’s) more gas right now than they can process, and so several of the major petrochemical companies have announced very significant plant increases.” Chalapty also said he expects a 30 percent increase in ethylene and polyethylene capacity.
This August also marked the groundbreaking of MarkWest’s administration building in Cadiz, which is expected to house between 100-120 employees. The good news continues for the local economy as shale development has spurred a wave of large-scale investments in the region, totaling in the billions. According to a Bricker and Eckler report, over $18 billion has been invested over the past several years in eastern Ohio, thanks to oil and gas development.
Fortunately, stories like these look to continue as the Utica comes into its own. Whether it is providing individuals with job opportunities, cutting down greenhouse gas emissions or reviving related industries, the benefits of shale development in Ohio and in communities across the nation cannot be understated.