Parma Unemployment Rate Lowest Since 2008 | Business

PARMA, Ohio -- Statistics released last week by the Ohio Department of Jobs & Family Services indicate that Parma’s unemployment rate for December 2011 fell to 6.7%, the lowest it’s been since the Great Recession began in late 2008.

“This data shows that our local employment is recovering in the months since February 2011, when we were at 9.7%,” said Mayor Tim DeGeeter. “I am cautiously optimistic, as are the economic advisors in Washington, that we will continue to see a slow but steady expansion in employment through 2012.”  According to the numbers, Parma’s rate is lower than that of Cuyahoga County (7.1%), the State of Ohio (8.1%) and the national rate (8.5%).

“Parma sometimes forgets that in our northwest corner, we have a strong and ever-diversifying manufacturing base,” said Community & Economic Development Director Erik Tollerup. “In 2011 alone, we entered into Economic Development Agreements for expansion, job creation and payroll tax sharing with OSG-Sterling Die, Melin Tool and CopperLogic/Eaton Corporation.  General Motors is reborn, and the old GM Transmission plant is poised for redevelopment.”

This year will also bring the opening of the Veteran’s Administration Outpatient Clinic and 300 new jobs to Parma.  “When I ran for Mayor, I spoke of the importance of job creation and retention as the backbone of the local economy,” DeGeeter said. “Low local unemployment translates to a stronger housing market and a stronger retail presence.”

Parma’s economic development incentives include payroll tax sharing for job creation, property tax abatement for new construction, low interest loans for business expansion and creation, and several storefront and infrastructure grant programs for smaller enterprises.  For more information, please contact the Community & Economic Development Department at (216) 661-7412.