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Friday, October 30, 2015

Utica Shale Helps Drive Surge of Investments in Columbiana County

From Business Journal Daily:
Critical infrastructure improvements, a growing portfolio of commercial ventures such as the TownCenter project in the city of Columbiana, and the potential to lure new industry attracted by low-cost energy, a highly skilled workforce and tax incentives, are helping to guide development in Columbiana County over the next five years. 
That’s the consensus of development specialists throughout the region as they put private and public dollars to work to expand the county’s commercial and industrial footprint. 
Over the last five years, Columbiana County has witnessed a surge in development buoyed by oil and gas exploration in the Utica shale. Utica East Ohio’s Kensington cryogenic plant in Hanover Township, for example, alone boasted a nearly $1 billion investment in the area. 
And, more recently, energy giant Chesapeake Energy Corp. has started to renew existing oil and gas leasehold agreements with landowners, preserving the company’s position in the Utica shale and ensuring another round of bonus payments that should spur the local economy (See story page 40).
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