YOUNGSTOWN, Ohio (WKBN) — According to a national report, the Youngstown-Warren metro area leads the nation in export growth.
According to a Brookings Institute/JP Morgan Chase report, the Youngstown-Warren metro area is leading the nation in export growth. The information appears in the report “Export Nation 2013: U.S. Growth Post-Recession.”
According to the study, exports grew in the area by an average of 27.4 percent between 2009 and 2012 to an annual total of $4.8 billion. The figure represents nearly one-quarter of all goods and services produced in the region.
Much of the growth is attributed to the recovery after the 2007-2008 recession sparked by the expansion of Vallourec Star Steel, the success of the Chevy Cruze, and the development of the Utica Shale play, the report stated.
Rose Ann Deleon, Executive Director of the Western Reserve Port Authority, said the WRPA is uniquely positioned to help local companies bolster their export business.
The largest growth in exports was seen with a 100.2 percent increase in exported petroleum and coal products. Motor vehicles exports (46.6 percent) and non-ferrous metal products (32.6 percent) were second and third.
“The Mahoning Valley has clearly proven it can compete and succeed in the global economy,” DeLeon said. “Now we have the opportunity to build on those achievements. Everyone at the WRPA is excited about the progress we’ve made and the prospects for the future, especially as they relate to the exploration and extraction of the region’s vast energy resources.”