There is no way to sugarcoat what people all across the country have experienced during the recent economic downturn. Many employees were laid off and businesses found it difficult to stay ahead of their costs. Ohio was no exception, where jobs in industries like manufacturing were hard to find.
But over the past several months, while the nation’s economy overall has been struggling to create jobs, Ohio has witnessed a strong uptick in its economy and job growth. Between May 2011 and May 2012, Ohio ranked fourth in the country and first in the Midwest in job creation, with 75,700 new jobs.
The progress that our state has made is a direct result of the hard work of Ohioans. This hard work has resulted in the creation of more than 94,000 jobs in the state since January of last year. Manufacturing jobs are also returning. As the largest sector of Ohio’s economy, manufacturing makes up about one-sixth the state’s economy. After a couple years of factories being closed down and dialing back production, many are now either reopening or expanding. This, in turn, means thousands of new jobs coming back to our state.
Miami County is also seeing growth in its manufacturing sector. Last week, the Ohio Development Financing Agency approved a $2.35 million loan to West Troy Tool and Machine, Inc., a business that specializes in tooling, automation and metal stampings. West Troy is expanding its operation and adding 35 new jobs, as well as purchasing new production equipment.
This is certainly good news for families throughout the district, and it is but one example of how jobs are being created in the state. Not only will 35 new jobs assist the individuals and families that directly benefit from them financially, but it will also help other businesses from which West Troy purchases in the process of building its products.
West Troy will use money from the loan, as well as $500,000 in private investments, toward the project, which will provide jobs and opportunity for so many throughout the Miami Valley.
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