An Industry Analyst Says Ohio's In for a Chemical and Plastics Boon
Editor's note: The name of the industry group was incorrect in the earlier version of this story.
Tens of billions of dollars in investment could be coming to northeast Ohio and the surrounding region in the next five years in the polymer, plastics and paint industries
In its latest global outlook, the American Chemistry Council says the upper Ohio valley has an advantage over other parts of the world in attracting plastics industry investment.
The trade association’s chief economist, Kevin Swift, says that has to do with Ohio -- already the top state in plastics production -- now also sitting atop massive shale deposits.
“The Utica and Marcellus shale gas basins are very rich in natural gas liquids, the feedstock, the raw material, for plastics and petrochemical manufacturing. And, the end-use markets are there as well, you know, you’re customer base for industry and manufacturing.”
Swift projects $36 billion in plastics investments in and around Ohio from now through 2023.