Utica Shale has allowed yet another company to expand. Dearing Compressor & Pump Inc. in Youngstown needs more space, just two years after a previous major expansion. In the coming year, Dearing plans to add another 25,000 square feet to its 56,000 square foot addition from 2010. The company manufactures compressor and pump systems for many industries, including oil and gas. The growing business drew the attention of U.S. Senator Rob Portman (R-OH), who stopped at the facility last week during a tour of northeastern Ohio.
Dearing has also aided to the more than 39,000 jobs created in Ohio related to the development of our resources in the Utica Shale. In 2005, the company only had 45 employees. Today, they now employ 180 workers and are still hiring. Senator Portman emphasized the importance of small businesses and that government should help, not hurt them with regulation. He commended Dearing on their practices in this type of economic climate:
I’m really impressed with what I saw here today, this is a great example of a company that is investing, taking risks…and growing. You’re doing the right thing; you’re producing great products—U.S. Senator Rob Portman (Senator boosts shale, 1/12/13)
In 2012, Senator Portman wrote a guest column for Energy In Depth about the importance of embracing Ohio’s Utica Shale and the economic potential it offers. In his column, he noted the correlation between success in manufacturing and development of our shale plays:
One sector that’s benefitting is manufacturing. Ohio’s manufacturers make a lot of the pipes and pumps and other materials used in energy production. The steel companies in northeast Ohio are expanding in order to keep up with pipe orders from the oil and gas industry—U.S. Senator Rob Portman (Ohio’s Future Powered by Ohio Energy, 8/9/12)
Companies like Dearing are proof of the incredible economic impact shale development is already having in Ohio – and this is just the beginning.
As Dearing President Rick Dearing explained, the room for growth in the development of our energy resources is a shared experience for his company.
There’s definitely no sign of it slowing down. We outgrew this building before we moved into it—Rick Dearing (Dearing Compressor Plans Another Plant Expansion, 1/14/12)
With more than 200,000 jobs created and supported through 2015 tied to shale development – and the incredible investments Ohio has already seen – there will be many more businesses sharing in experiences like Dearing’s success.