Growing Job Market Strengthens Housing Market
We could all use good news right? Here's some encouraging news I'd like to share with you this morning. How about more jobs and an economy coming out of ICU and accepting visitors? Forbes recently ranked the top 66 top metro areas for expected job growth for big cities, and 398 MSA's Metropolitan Statistical Areas, and while your particular area may not be on the list I can tell you I see many local communities around Ohio experiencing job creation and activities creating greater job security as a result of strengthening businesses. I expect this is happening in general all around the country.
The 66 metro areas Forbes decided to study currently provide over 450,000 jobs, and determined the job growth rate expectations for this year by crunching numbers from employment data provided by the the Bureau of Labor Statistics from November 2002 through January 2014 and growth trend studies.
For Ohio, I'm strongly encouraged by little tids of local news that pop up on my radar. For instance, WLWT.com, a local news and radio station posted the State of Ohio grants tax credits for 6 local companies, a $48 million investment, retaining 1,769 jobs, and potentially creating well over 500 new jobs around Hamilton, Warren and Butler County.
- The specific cities are companies benefiting from this:
- Montgomery: Ohio National Financial Services in Montgomery.
- Blue Ash (Cincinnati): AdvancePierre Foods, Inc.
- City of Sharonville: Kenworth of Cincinnati
- Forest Park: Process Plus Holdings, Inc.
- Monroe: UGN Inc.
- Hamilton: Interstate Warehousing of Ohio, LLC
Now, keep in mind, this is just a small taste of what's going on that has an impact on Southern Ohio real estate. More jobs, and job retention does bode well for sellers and the real estate market, giving would be buyers greater confidence. In keeping with colleagues and friends from around the state I find all kinds of businesses are expanding, growing and getting bolder.