Piqua’s Growth Bucks National Trends for Small Communities
Thursday, October 18, 2018
Piqua has bucked national and regional population trends, proving that with the right assets, small communities can thrive and grow. While many smaller towns are witnessing a reduction in their population, as people leave for more urban areas, Piqua’s population has been growing. This is, in part, due to area job growth. Piqua has experienced a 2.8 percent increase in jobs since 2004, growing even during the recession. Meanwhile, within a sixty-mile radius, jobs only grew by 0.8 percent during that same timeframe.
Wages have increased in Piqua as well.
The job growth in Piqua has been consistent but what is truly fascinating is the growth in the average annual wage. While much of the country has experienced wage stagnation, the average annual wage in Piqua grew to $41,566. This is a remarkable increase, given that the average wage was hovering around $34,000 at the start of the recession.
Businesses are choosing to locate and grow in Piqua.
Piqua is becoming a regional hub of activity for West Central Ohio. With strong community assets, outdoor recreation, entertainment, dining, shopping, and available jobs, people are moving to Piqua and driving to town for work and pleasure. This has created numerous opportunities for businesses looking to expand in the region. Businesses who have recently opened a new location or expanded in Piqua include:
- Kettering Health Network
- NK Telco
- VSF Development
- Five Rivers Health Center
- Advantage Home Solutions
- Hock’s Pharmacy
- One Main Financial
- Kustom Auto Audio
- Buckeye Pro Golf Carts
- Garbry Ridge Assisted Living
The above list is but a small sample of the businesses who are taking advantage of the opportunities locating in Piqua presents.
Piqua benefits from diverse demographics.
As a community, Piqua continues to defy national population trends. In much of the country, it is common for the populations of more rural communities to simply age. Piqua has not experienced this, perhaps because the community is an epicenter of activity, especially for outdoor enthusiasts. The Great Miami River Trail is in Piqua, offering access to some of the longest hiking and biking trails in the country. The combination of outdoor recreation, downtown entertainment, dining, shops, and good jobs has led to Piqua’s population growing to more than 21,000 people. Of these, the second largest population group is children, making up 32 percent of the population. The second largest group is adults of working age, between 19 and 54. These population trends are good for the community and for business, as it provides employers with a new group of talent regularly graduating from the local high school and regional colleges.
There is room for growth in Piqua
Piqua’s demographic trend bode well for growth. The city is continuing to invest in the growth of the area through promotion of initiatives like the riverfront redevelopment and Piqua Opportunity Zones. To learn more about these and other opportunities, contact the City of Piqua today.