Perrysburg remains Wood County’s most economically diverse and thriving community and is one of Northwest Ohio’s best magnets for economic and business growth. It remains one of the best places to own real estate in the county and region. When it comes to “economic gardening,” no other community in Northwest Ohio is as successful in providing residents, business owners, and entrepreneurs with innovation-based economic development tools. Downtown Perrysburg Inc. and the Perrysburg Chamber of Commerce help to ensure the City’s B2B (business to business) networks thrive.
The facts that support this claim are:
- Perrysburg’s residential growth has increased 21.7% since 2000, and is the fastest growing community in the region. State average for residential growth in the last ten years was 1.7%.
- According to a recent study, Wood County was ranked as one of America’s Top Ten Small-Sized Counties (FEC Inc., 2012.). The ranking considers several measures within five areas: Investment, Talent, Sustainability, Place, and Diversity. These five areas serve as a foundation for future economic success.
- According to Stats America, Wood County has a 10-year per capita personal income (PCPI) growth of 7.3%, the highest in the region.
- Residents spend $3,500 more per capita on retail items than state average. According to the US Census, per capita income is $37,813, a 32% increase from the state average.
- Median household income from 2008-2012 averaged $69,341, a 30% increase from the state average, and one of the highest household incomes in the region.
- Median value of owner-occupied housing is $192,600, a 30% increase from the state average; Perrysburg has one of the highest housing values in the region.
- Over the last two years, Perrysburg has had more multi-family housing units under development than any other community in the region. This type of housing is extremely important in attracting young professionals and providing businesses with a diverse base of employees¹.
Recognizing the importance of its growing community, the Ohio Sea Grant College Program and Ohio State University Extension collaborated with the City of Perrysburg to conduct a Business Retention and Expansion (BR&E) Program. Click here to discover what the city learned from the BR&E program as well as their future plans.
|Joe Lucente is an Associate Professor for the Ohio Sea Grant College Program and Ohio State University Extension|