Video: Utica Shale Boosting Ohio’s Small Businesses
Over the past five years, Ohio’s shale development has had an incredible impact on small businesses in the state, creating new jobs, reducing our unemployment rate, and having a truly game-changing impact on the mix and diversity of Ohio’s economy.
The impact of the shale industry on small businesses goes far beyond the new hotels and restaurants built to support Ohio’s growing workforce. In fact, this industry is supporting small businesses that have been in Ohio for decades – companies that have increased their menu of services to cater to this growing industry. Just take a look at Hapco Inc., a small business in Kent, Ohio with over 30 years’ experience in the plastic welding business.
In 2010 Hapco Inc. changed its business model to fit the needs of the oil and gas industry and, as a result, Hapco leaders have watched their small business increase revenues and create jobs. In addition, the oil and gas industry stimulated growth and innovation in the world of 3D printing applications with the creation of TripTech 3D, a business that emerged after seeing the need for high-quality, precision-sized filaments for use in the oil and gas industry, as well as in 3-D printing.
Hapco Inc. & Triptech 3D are just two of many great examples of Ohio’s energy development supporting small business success stories while contributing to the emerging diversification of the state’s economic revitalization. As Mike Szoguy, Sales Manager for Hapco Inc. stated in the Youngstown Business Journal in January, “If the industry left Ohio and the surrounding area we believe it would be catastrophic, not only for us, but the country as a whole.” Hapco Inc and Triptech 3D are much needed reminders of how the United States can strengthen the middle class, spur our manufacturing community, and enhance job growth through the production of American energy.
Watch EID’s new video —Shale Development Supports Ohio’s Small Businesses – to learn more about how supporting Ohio’s shale development means supporting small businesses, job creation, and diversification of Ohio’s economy.