Punxsutawney Phil may have seen his shadow, but ecomonic growth in the Columbus suburb of Gahanna has sprung.
Approximately three hundred people gathered at the Creekside Conference and Event Center on February 2 to hear the city of Gahanna's economic "State of the Union" at the 15th Annual Groundhog Day Economic Forecast Breakfast.
Last year, 1,600 jobs were added to the east side suburb. More jobs will be added to the area with the addition of Central Park of Gahanna, a new 120-acre business park that is being developed along Techcenter Drive, which is now extended to Hamilton Road, a 10-year long project.
"We are happy of the businesses that chose our city," said Gahanna Mayor Becky Stinchcomb as she addressed the audience.
The keynote speaker was Dr. Stephen A. Buser, PhD, a professor emeritus at The Ohio State University.
Buser discussed the effects of the recession and how the economy can recover.
"You don't recover quickly," Buser said about the Great Recession. "It's like recovering from a severe health problem. You don't expect to go home right away from severe surgery."
Buser predicted that there will be a "modest" Gross Domestic Product (GDP) growth of about two percent this year, however, Buser added, "Interest rates would have to explode."
However, Buser added, "There could be a chance of a modest decline or enhances growth in the Gross Domestic Product in any given quarter."
In other news at the Forecast Breakfast, City of Gahanna Director of Planning and Development Anthony Jones recalled the growth of business in Gahanna since the first Groundhog Day Breakfast in 1998.
"Everything Gahanna does is strategic," Jones said. "(800-825) Techcenter Drive was built without a tenant in mind."
AEPOhio, followed by the Everest Institute, Momentive, and JP Morgan Chase, all moved offices to Techcenter Drive, which holds the largest percent of employees within the Gahanna city limits.
"In 2011, three times as many jobs were created than the last three years combined," Jones added.
Also addressed was the Central Park of Gahanna development that is being built near Hamilton Road and Interstate 270.
The new properties being built will represent 17 percent of the commerce and technology district in Gahanna.
"Our city's economic success depends on how well we do with these properties," Jones said.
"We have a great horizon in 2012. We'll have more talks of investment and of horizon (for next year's Economic Forecast)."
Among the projects for Gahanna in 2012 that were mentioned include a multi-tenant retail development at the intersection of Hamilton Road and Granville Street, and a new medical office building on Techcenter Drive.
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