Montrose Economic Update: September 2017

Sep 21, 2017 | News, Newsletter

Dave Robinson. 
Montrose Group.

American economic growth continues heading into the fourth quarter of 2017 but not at the pace hoped for. Key data points related to the current performance of the U.S. economy include the following:

  • Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis following a 1.2 percent increase in the first quarter;
  • Real gross domestic product (GDP) increased in 43 states and the District of Columbia in the first quarter of 2017, according to the U.S. Bureau of Economic Analysis. Real GDP by state growth in the first quarter ranged from 3.9 percent in Texas to -4.0 percent in Nebraska (see chart below).
  • In July, the Consumer Price Index for All Urban Consumers increased 0.1 percent seasonally adjusted; rising 1.7 percent over the last 12 months, not seasonally adjusted and the index for all items less food and energy rose 0.1 percent in July- up 1.7 percent over the year;

For the full article and additional economic indicators, click HERE.

Groundbreaking Celebration in Chillicothe

Ninety percent of the Kenworth Class-8 global truck volume is built in Chillicothe, Ohio!

On April 24, 2019, the community celebrated the groundbreaking for a new paint facility that will improve efficiency and preserve the quality of The World’s Best Truck.  The project represents $140 million in capital investment and will bring 100 new, great paying jobs to Ross County upon its completion in 2021.  The Kenworth Chillicothe plant, which opened in 1974, currently employs more than 2300 people.  In addition to the new paint facility, a $30 million robotic cab assembly system will be installed this summer.

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A Message from JobsOhio President J.P. Nauseef Partner Engagement Update – We’re Listening!

In March 2019, I joined the JobsOhio team and determined my first priority was to meet with our local economic development partners across the great state of Ohio. My goal was to understand your experiences with us, learn where we exceeded your expectations, and hear your ideas on ways to improve our partnership. Economic development has always been a team effort, so I wanted to engage the team, and indeed you engaged with us!

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