MAGNAM Innovation Park. Energizing the Polymer Value Chain and Southeast Ohio.
When fully operational, MAGNAM Innovation Park will supplement and enhance Ohio’s reputation for a strong business climate, skilled workforce, manufacturing leadership, and regional research/technology innovation through the creation of 10,000 jobs and $2.6 billion in annual economic impact in southeast Ohio. Today, and for the foreseeable future, an unparalleled economic development opportunity exists for southeast Ohio, and the Tri-State region including Ohio, West Virginia and Pennsylvania, that did not exist ten years ago.
Southeast Ohio, within the federally designated Appalachian region, sits on top of enormous Utica and Marcellus shale formations. The availability of natural gas from these shale reserves is projected to provide 37% of the nation’s natural gas production by 2040. To put this into perspective, if the states of Ohio, West Virginia, and Pennsylvania were a country, it would be the third largest producer of natural gas in the world surpassing Saudi Arabia, Iran and Qatar.
MAGNAM Innovation Park will capitalize on this abundance of natural gas and natural gas liquids (NGL’s) to attract downstream polymer manufacturing and support opportunities while leveraging Ohio’s leadership position in the energy sector.
For polymer manufacturers and other high-energy intensive industries, MAGNAM Innovation Park’s location combines a number of assets that lessen risk and potentially improve cash-flow benefits compared to economic properties development in the Gulf Coast.
MAGNAM Innovation Park is uniquely positioned to help high-energy intensive industries take advantage of a once-in-a-century opportunity where like-minded companies can collaborate, benefit, and prosper.
And while the advantages to high-energy intensive industries represent a significant shift from the past, southeastern Ohio will benefit from the creation of a vibrant, diversified and innovative economy providing good paying jobs for a knowledge-based workforce, enhancements to local infrastructure, and a higher quality of life for our citizens.
Paul R. Brown, Ed.D.
MAGNAM Innovation Park Foundation