Economic trends in Columbus lead the way for the rest of Ohio, according to a recent report by the Columbus Business Journal. The report examined a statewide analysis made by the Cleveland Federal Reserve. Here are the highlights, along with other facts you should know:
1. During 2013, the City of Columbus was rated “A” by Forbes Magazine, placing it among the Top U.S. Cities for Business in America.
2. In 2012, Columbus was ranked as one of the 50 Best Cities in America by BusinessWeek.
3. Columbus is home to many Fortune 500 companies, as well as the Battelle Memorial Institute, which is the world’s largest private research and development foundation. See our Columbus Facts webpage for more local information!
4. Companies in Columbus and Central Ohio are experiencing growth, and these large employers may be adding jobs in the future. A sampling of these companies include JPMorgan Chase, Ohio Health, Nationwide Mutual Insurance and Ohio State University.
5. Our colleges and universities supply a well-educated workforce, which in turn attracts high-caliber employers and good paying jobs. And because good jobs are available right here at home, Columbus students are more apt to remain in the area. With ample economic opportunities available for college graduates, our city also attracts young professionals from other regions.
6. Our economic output averages higher than the rest of the state, and higher than the rest of the nation.
7. The momentum of Columbus business helps keep Central Ohio unemployment lower than the rest of the state, and lower than the national average.
8. Our population growth averaged an 8% increase between 2009 and 2011, while the rest of the country only averaged population growth of 1.5%.
9. Overall household debt in Central Ohio is lower than the rest of the state. This includes mortgages, auto loans and credit card balances.
10. All of these elements help strengthen demand for Columbus housing! Columbus real estate has enjoyed growth in both home values and building permits. See our prior blog for Columbus 2014 real estate projections.
What does this all mean for Columbus home buyers? First of all, it means you can expect competition when buying a Columbus home! Columbus is a great place to live, and there are many fine neighborhoods and communities to choose from. Finding the right home for your needs is easier when you have an Exclusive Buyer’s Broker who represents you, and only you, in the home buying process!
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Ready to get started? Contact us for help today! Remember, we are with you every step of the way…all the way home!
Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
