Abundance of Natural Gas Powers Industry Growth
The Utica and Marcellus shale formations continue to yield large amounts of natural gas, natural gas liquids (NGLs) and crude oils.
Ohio is ranked first in polymer output and is the No. 1 supplier of polyolefin. Companies in Ohio can leverage these energy advantages to power their business or develop downstream petrochemical products ranging from adhesives and coatings to a variety of chemical outputs. In Ohio, companies can:
- Get the best price with a customized energy plan. Ohio's deregulated power market offers unique and differentiated plans, including reliable electricity.
- Locate near the Utica and Marcellus shale formations. These fast-growing formations account for 85 percent of the growth in U.S. shale since 2012.
- Benefit from Ohio’s competitive business climate. Low taxes, a favorable regulatory environment and a streamlined permitting process will mean less restrictions on operations and speed to market.
- Access low-cost and reliable energy. Companies can access an abundance of sustainable, low-cost natural gas which cuts costs for high-energy consumers.
Ohio’s Marcellus and Utica Shale Play
The mid-Ohio valley energy advantage is a result of a world class business opportunity with access to water with the Ohio River, low natural gas costs from the shale crescent, access to skilled talent, and great access to markets. These four elements power Ohio for the future in the energy sector.
Ohio’s natural gas industry has been the biggest driver of energy growth in the United States for the last four years, largely due to the Utica and Marcellus shale deposits in eastern Ohio. Cleveland State University’s Maxine Goodman Levin College of Urban Affairs put together the Shale Investment Dashboard in Ohio. This information documents the growing impact of Ohio in the national natural gas industry.
Ohio’s energy sector is growing mostly due to large deposits of shale. This brings about more investments from new companies. These investments not only have a direct impact on the companies and their employees, but also indirectly on jobs during construction as well as the economy of the local community. They also bring about potential new opportunities for further business investments.
Spray Products Corp. has acquired a facility in Medina to accommodate its rapid expansion. Local, regional and state partners came together to support the revitalization of a vacant Valspar spray facility, which is an ideal fit for Spray Products’ production needs.