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Ohio's Lake Erie Marina Industry Business Retention & Expansion Program 2015 Final Report | Ohio Sea Grant

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Ohio's Lake Erie Marina Industry Business Retention & Expansion Program 2015 Final Report

Summary of program to assist marinas in achieving their growth objectives and to improve the overall business environment of Ohio’s Lake Erie Marina Industry

Published: Apr 13, 2015
Last Modified: Jun 9, 2015
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Description

Summary of program to assist marinas in achieving their growth objectives and to improve the overall business environment of Ohio’s Lake Erie Marina Industry.

Abstract

The Ohio Sea Grant College Program partnered with state-wide agencies to examine the needs of Ohio’s Lake Erie Marina Industry through a Business Retention and Expansion (BR&E) survey. The survey of existing marina businesses along Ohio’s Lake Erie coastline was a component of a multi-county BR&E program that encompassed Lucas, Ottawa, Erie, Lorain, Cuyahoga, Lake and Ashtabula counties. It was part of an on-going economic development effort to stabilize and grow the local economy and improve quality of life. As a result of the business retention and expansion program conducted in 2014-2015, Ohio Sea Grant, the Lake Erie Marine Trades Association and Ohio Department of Natural Resources Office of Coastal Management learned that Ohio’s Lake Erie Marina Industry plans to retain between 566-1,011 jobs with the intent of creating approximately 26-41 new jobs in the next year as a result of business expansion. Moreover, 26-41 new jobs in Ohio’s Lake Erie Marina Industry has the potential to create an additional $52,349 in local income tax collection and add approximately $1,247,015 in personal income to Ohio’s Lake Erie coastal communities.