Crain’s is reporting that Cleveland is on the cusp of an economic boom due to increased natural gas drilling in the area. Vast deposits of natural gas lay under eastern Ohio and Pennsylvania, but had previously been unreachable. A new drilling process called fracturing is enabling drillers to unlock the potential of these natural gas fields.
The new technology is expected to lead to a major, sustained natural gas drilling industry in the area. The resulting industry will need to be supplied with machinery, equipment and materials much of which will be built and supplied from companies in Northeast Ohio, who will need to hire thousands to supply it. This will provide a major boost to Cleveland’s rebounding manufacturing sector. Along with growth in the biomedical field, the film industry and the hot overall job market, the Cleveland economy looks strong going forward.
Read the complete story at Crain’s