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.

Port Authority Celebrates Award-Winning SBDC Member

(Wilmington, Ohio) The Clinton County Port Authority is pleased to congratulate David Riggs, Director of the SBDC at Miami Regionals, for being named Ohio’s SBDC State Star in 2021.

America’s SBDC, the national association that represents the nationwide network of Small Business Development Centers (SBDCs), annually recognizes one outstanding SBDC employee from each of its 62 members. This outstanding employee exhibits exemplary performance, makes a significant contribution to their state or regional SBDC program, and shows a strong commitment to small business. Using a peer-based selection process, the Ohio SBDC network selected David Riggs for Ohio’s SBDC State Star.

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Tiffin Foundry and Machine to invest in new machinery and equipment

Tiffin Foundry and Machine has announced it will purchase new machinery and hire more staff with assistance from a $50,000 JobsOhio Inclusion Grant. Tiffin Foundry has eight employees in Tiffin, and has an additional operation in North Ridgeville, Ohio.

JobsOhio’s grant, secured with assistance from the Regional Growth Partnership, will support a planned $321,923 in machinery and equipment upgrades and three new jobs. In addition, Tiffin Foundry and Machine worked with Tiffin-Seneca Economic Partnership and OhioMeansJobs – Seneca County on other potential incentives to support the company’s growth.

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