Kent, Ohio - Economy

Economy

Kent's location along the Cuyahoga River and later the Pennsylvania and Ohio Canal and multiple railroad lines made it attractive initially for the establishment of small gristmills for the production of flour and various factories. Progressively larger factories later developed due to increased power available from the river and eventually due to the ease and lower cost of transportation of goods to other markets. During the latter half of the 19th century and into the early 20th century, the city's largest employers were all industrially based, including the Atlantic and Great Western Railroad and its successors, which operated its main maintenance shops in the village; the Seneca Chain Company; and bus manufacturer Twin Coach among others. A disastrous fire at the Seneca Chain Company in 1909 led to the creation of the Kent Board of Trade—an early Chamber of Commerce—which was successful in getting Kent selected in 1910 as the site of what would become Kent State University.

Changes in the structure of the railroad and declines in the manufacturing sector during the mid-20th century combined with the rapid growth of Kent State University following World War II led to the university becoming the city's largest employer and influenced the development of other areas of the city's economy. Beginning in the late first decade of the 21st century, the university, along with the city and private investors, began to play a more active role in the redevelopment of downtown Kent and has aided in the development of local high tech companies. Kent State operates Centennial Research Park, along Ohio State Route 59 in Kent's Joint Economic Development District with Franklin Township, which houses two high tech start-up companies in the liquid crystal industry. Kent has an additional Joint Economic Development District with Brimfield Township south of the city limits. Through the Kent Regional Business Alliance, the city also supports two business incubators.

As of 2010, the educational, health, and social services fields were the city's largest sector, and employed over 33.5% of well as Robinson Memorial Hospital, which operates an outpatient surgery center and general medical facility. 16.3% of the workforce is employed in arts, entertainment, and food service, with 12.2% employed in retail. Manufacturing accounts for 7.1% of the workforce with a Land O' Lakes plant being the largest employer in the sector. Kent is also home to the corporate headquarters of the Davey Tree Expert Company, which serves as the city's largest private employer. In 2010 Davey Tree announced plans to relocate staff from its Davey Resource Group, who were previously in neighboring Stow, to Kent as part of a planned downtown development and has stated long-term goals include having all corporate offices in Kent. The Davey Resource Group office, which included some office staff already in Kent at the main corporate headquarters, opened in August 2012.

75.1% of those employed commuted alone to work by way of a car, truck, or van with another 7.1% carpooling. 10.6% of workers walked to work with 1.9% using public transportation. The average commute time was 22 minutes. 13.0% of the workforce was unemployed in 2010, above the 9.8% for the state and 9.0% nationally. the U.S. Bureau of Labor Statistics estimated the unemployment rate in Kent at 7.9% in 2010 and 6.6% in October 2011.