In terms of economics, the amount of jobs in a region usually is a good indicator of the strength of that region's economy. If that's true, Delaware County was given the indication of a major upward swing in the local economy this week.
Education loan company Sallie Mae announced that it plans to open a "debt-management center" in Muncie. The company also announced that 300 jobs should be available by the end of the year and 700 jobs by the end of the hiring process.
This comes on the heels of auto part supplier Magna International announcing the creation of a new plant, along with more jobs.
Wal-Mart, one of the leading employer in the United States and Delaware County, is opening a new "Supercenter" on 29th Street to join the already existing one on Clara Lane. The new Wal-Mart will bring close to 400 more jobs. While one can argue whether Muncie should have another Wal-Mart - let alone a "Supercenter" - no one can deny that the new Wal-Mart will bring needed jobs to the community.
While things might look good for the county's economy and residents, looks can be deceiving.
Of the nearly 1500 jobs that could be created, maybe half of those will go to Delaware County residents.
Even if Delaware County residents receive all the jobs given by Sallie Mae, Magna International and Wal-Mart, it will still not be able to offset the amount of manufacturing jobs lost over the last three years.
In 2001, there was a total 53,295 jobs in Delaware County. In 2004, there were 48,611.
From 2001 through 2004, the number of jobs in Delaware County decreased by 8.8 percent. The number of manufacturing jobs fell by 15.4 percent. Even worse was the drop in the number of transportation and warehousing jobs - which fell by 72.1 percent.
With the catastrophic downfall of General Motors in Delaware County - and across the world - Wal-Mart and Sallie Mae cannot fill that gap of manufacturing jobs that once flourished in this industrial town. Magna International will be able to help create some jobs, but it cannot reverse the downward trend on its own.
While the creation of local jobs by these three multi-billion dollar companies might have a very positive effect on the county's economy, Muncie needs economic help these three companies might not be able to provide. However, this help is certainly appreciated by a majority of the Muncie community.
The bright side of this development is the attraction and the snowball effect that could be created by these three companies. Magna International, Sallie Mae and Wal-Mart certainly have the prospects to prosper and grow in Muncie. Their possible success over the next two to three years might entice other companies to set up branches in Muncie and surrounding areas.
East Central Indiana, like much of the rest of Indiana, has suffered from the mass migration of skilled workers and college graduates. With the possibility of higher-paying jobs coming to this region, Delaware County should be excited for the opportunity.
Muncie's economic future is not certain to prosperity or failure. While there is much to whine and complain about in Muncie - such as the overabundance of restaurants - there looks to be a bright spot in the future for America's "Middletown."
Muncie should embrace these three companies and their offerings to this community. Hopefully in return, the Fortune 500 companies will smile brightly upon this county of immense possibility and goal-oriented personality.
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