News Release: Fairfield County Economic Update
The economy is in the midst of a sluggish recovery, but local development officials point to several projects in the works and recent victories as reason for renewed optimism. Economic Development directors from Fairfield County, Pickerington and Lancaster spoke to about 80 business and community leaders at the annual Economic Update hosted by the Lancaster Fairfield Chamber of Commerce.
Gregory Wentz, an attorney at Coen, Wexler and Wentz, attended the luncheon at the Liberty Center. “The development directors’ extended efforts, in today’s economy, have done a remarkable job to keep the economy viable in our community,” Wentz said. “Without them, I’d think we’d be lost.” He said he had some concerns about how steps being taken to aid the national economy would impact Fairfield County.
Each development director spent about 15 minutes discussing the past year’s successes, potential new businesses and planned marketing strategies. Fairfield County Economic Development Director Shane Farnsworth said one of the continued successes of his department is the Revolving Loan Fund, which provides low-interest loans for local companies expanding their operations or starting anew. He said there are 30 active loans and the fund has accrued $3.6 million in the portfolio.
Farnsworth said the Golden Corral and Tammijo’s Steak, Ribs and Pasta were two businesses who were able to take advantage of the low-interest loans. He said six companies are considering expansion to Fairfield County, all are from out of state. He said the companies are in the industries of food services, bio-medical and advanced manufacturing. “We are the only community in the state of Ohio they are talking to,” he said. Farnsworth, who also is the leader of the Fairfield 33 Development Alliance, said the region-wide group is continuing marketing efforts to attract new businesses to the area.
Lancaster Economic Development Director Mike Pettit used graphs to show local business leaders how the national and global economy has recovered, albeit slowly, since the second quarter of 2009. Pettit said the development office is in the early discussions with a manufacturer of “green” products based in Maryland. He said the company makes Styrofoam from soy, drywall, concrete and other building components, but they are made environmentally-friendly.
Pettit said he is pleased with the work of various entities to expedite the construction of Serigraphie Richford, the area’s newest manufacturer. He said the 20,000-square-foot expansion of the building, set to open in September, was the fastest he has seen. “That’s a great testament to our building department and we can get done,” Pettit said. Pettit said there are ongoing discussions between the city of Lancaster and Fairfield Christian Church about the future development of the site of the former Lancaster Inn.
Pickerington Economic Development Director Susan Crotti said the city is working toward focusing their marketing efforts to reach targeted businesses, such as medical and financial services industries. She said the city has established an incentive program, which includes job creation and building tax credits, for new businesses. “The grants would only be issued when the goals are met,” she said.
Lancaster Fairfield County Chamber of Commerce President Travis Markwood said Fairfield County’s economy has faired better than other regions of the country. “That is a real testament to the type of businesses we have in our community and throughout the county,” he said.
BY JOE GIESSLER • The Eagle-Gazette Staff • August 19, 2010 • www.lancastereaglegazette.com
08/26/2010
