NEW ALBANY, Ohio (WCMH) – Central Ohio is bracing for a boom thanks to Intel.
The tech company is building its biggest manufacturing operation yet in Licking County, promising thousands of well-paying jobs, but how will all of those high-earners impact an already stressed housing market?
Like communities across the United States, central Ohio has a shortage of affordable housing.
Unlike other communities, central Ohio is getting a major tech employer offering an average salary of $135,000 per year.
But there is one community – Chandler, Arizona – that shows how Intel can impact a local housing market.
Just more than 40 years ago, Intel set up shop in a farm town of about 30,000 people. Now, Chandler is home to more than 250,000 people.
“We honestly can’t keep up with the influx of people coming in,” said Chandler resident Teresa Bagdol.
She moved to Chandler from California in 2001, lured by a growing local economy and lower cost of living. Along with the change in population, Bagdol’s also noticed a change in property values.
While property values might be welcome news for homeowners like Bagdol, Chris Russell, who rents a room in a shared house, said he can’t afford to live alone in Chandler.
From job creation to the environment to the physical landscape, there’s no doubt that Intel will have a major impact on central Ohio. Over the next several weeks, NBC4 will explore every angle of it, from the vantage point of a community that’s already felt that impact.