Three Thoughts: Local Impact Matters, Do The Math

 

Imagine the euphoria from the reports that a project creating over 32,000 jobs was coming to Columbus.

Huge.  That kind of job creation level would be seven times AEP’s employment.  It would be equal to two times Nationwide or Chase. 

Do the math.  The equivalent of that mythical huge deal actually happened in Circleville.

Sofidel opened its tissue paper manufacturing facility outside Circleville a few years back.  They’ve expanded since.  Sofidel delivered 500 jobs in Circleville.  Columbus is 65 times bigger than Circleville in population.

Sofidel epitomizes the notion that local impact matters.

First Thought:  State Has Reasons to Celebrate Local Impact.

While Ohio’s economy added 500 jobs with Sofidel, it’s the fact that Circleville hit above its weight that year in job creation that should be celebrated. 

An equivalency test is a lens for looking at impact.  So, yes, the entire state has reason to celebrate 500 jobs in Circleville as much as they would if 32,000 new jobs landed in Columbus.

Communities hitting above their weight in job creation should always be celebrated.  Look at just three recent headlines:  400 jobs in Defiance.  510 jobs in Ironton.  240 jobs in Batavia.  Combined, that equates to as if over 150,000 jobs were being created in Columbus.

The spin off effect from those 1,100 jobs created and supply chain jobs are felt in a much wider area than Defiance, Lawrence, and Clermont counties.

Another Thought:  Feeling the Hurt of Losing 100 Jobs.

An equivalency test argument can work in the other direction.  Look at this in reverse.  When Galion, Ohio fears the loss of 100 jobs, that’s the Columbus equivalent of losing 9,000 jobs. 

It hurts.  It’s noticed.

Do the math in this case, and it tends to cause one to lend some empathy to the economic pain leaders of some of our fellow communities face when a seemingly small company is caught up in an economic downturn that engulfs their workforce and their community.

Third Thought:  More Reasons Why Equivalency Matters.

For decades, the rankings by Site Selection magazine have been the U.S. states’ measure of success in economic development.  Ohio achieved third place this year and has ranked that high or higher for multiple years as a result of producing impactful projects all over the state. 

In Ohio, for decades, the projects that give a boost in the rankings have come not just from our biggest cities, but also from our smaller ones.  In fact, consistently, more than 90% of the ranked projects came from outside of our largest cities in the state. 

That’s the sort of good news that needs to be celebrated. 

When our small communities win, all of Ohio wins.  Yes, local impact matters.

 

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This column is a regular column in The Dispatch.