The Challenge of the Legacy City

Jul 23, 2019 | News, Newsletter

Nate Green
The Montrose Group

 

 

Recent attention focus’ on the challenges of Legacy City’s—communities who have not recovered from the loss of industrial jobs. While former industrial giants like Ohio continue to transform and grow, other than the Columbus and Cincinnati regions, most other regions in the state are not producing the jobs the population needs to succeed. As the table below illustrates, Columbus and Cincinnati produced the lion’s share of the state’s jobs from 1990-2018 while regions like Youngstown, Mansfield, Lima, and Springfield have actually lost a total of 35,500 jobs over this timeframe. Cleveland, once the economic powerhouse of the state, only produced 47,200 jobs over this timeframe which was not as many as Akron, and five times less than Columbus.

The common element these struggling communities have is a substantial loss of high-wage manufacturing jobs. The loss of the manufacturing base in many Ohio communities has had a negative impact on the economic and social well-being of these communities. As the table below illustrates, large scale high-wage manufacturing job loss and long-term struggles with overcoming poverty created substantial pools of poverty and, more troubling, wide-spread population decline among this select list of Ohio Legacy Cities.

Read more here, https://montrosegroupllc.com/2019/07/the-challenge-of-the-legacy-city/

Capitalizing on rural corporate site location opportunities

Rural communities are prime targets for companies considering a corporate site location project. Rural areas in the U.S. cover 97 % of the nation’s land area but contain 19.3 % of the population who are more likely to own a single family home, are older and less likely to hold a bachelor’s degree or be in poverty than their urban counters.

read more

AEP Names Wells Vice President, Sales, Economic and Business Development

American Electric Power (Nasdaq: AEP) has promoted Timothy J. Wells to vice president, Sales, Economic and Business Development, effective Nov. 2, 2020. Wells replaces Mark James who retired last month.

Wells, 55, will lead AEP’s efforts to attract new commercial and industrial customers to its service territory and help existing customers take advantage of AEP’s growing menu of business consultation services. AEP has unique expertise in the energy field and has become a trusted energy advisor to many of its larger customers. Wells will be responsible for leading growth in services that fall outside of the distribution and transmission of electricity, in addition to helping communities bring new jobs to their local economies.

read more