A City Built on Innovation
Dayton, Ohio, has a deep legacy of manufacturing and innovation. From the Wright Brothers’ piloted aircraft to the first cash register (NCR), Dayton once thrived on industrial innovation. Yet, as the decline in U.S. manufacturing accelerated through the 1990s, the region lost over 1.1 million manufacturing jobs (a 21.2% decline), and Dayton became a symbol of gloom and Rust Belt decline.
Today, however, optimism is replacing gloom. Locals have seen the change firsthand—and now, federal data is confirming it.
August 2023: 1,600 New Jobs Added
According to seasonally adjusted data from the U.S. Bureau of Labor Statistics (BLS), the Dayton metro area added 1,600 new jobs in August alone—a 0.4% monthly increase in local payrolls, equivalent to roughly 5% growth on an annualized basis.
This marks not just a positive blip, but part of a sustained trend.
Six Straight Months of Expansion
Dayton’s job market has been on an impressive winning streak—now posted six consecutive months of gains. Major employers like GM, Delphi, and NCR moved overseas in waves over the past three decades, creating a level of decline rarely seen before.
Today’s job growth reflects not just recovery—but genuine momentum.
2023: A Record-Breaking Year for Job Creation
The new BLS data shows that the Dayton area economy is finally recovering, and the recovery seems to have legs:
- Dayton Metro area (Montgomery, Greene, and Miami counties) has lost jobs in only one month this year (February, with 1,200 jobs lost).
- Through September 2023, the Dayton metro added 8,400 net new jobs—a record not seen since the BLS began tracking this data in 1990.
- For comparison: the second-best year was 1994, when Dayton gained 7,400 jobs.
And growth is accelerating. In the first eight months of:
- 2021, Dayton added 4,300 jobs.
- 2022, Dayton added 4,600 jobs.
2023 is now on track to shatter both records.
Historic Investments Are Fueling Future Growth
Major corporations are betting big on Dayton’s future:
- Joby Aviation (NYSE: JOBY):
Investing $500 million to build a new electric urban aircraft manufacturing plant near Dayton International Airport. The historic project will employ 2,000 people and could eventually expand to 2 million square feet. - Amazon:
Last month, Amazon opened a massive new fulfillment center in Montgomery County adjacent to the Dayton Airport that will employ another 2,000 people. This follows their $1.5 billion investment into a massive Prime Air hub in Cincinnati, just an hour south that will be home to 100 freight aircraft and employ 2,000 people, including pilots, mechanics and management personnel. - Honda and LG Energy Solution:
Began construction on a $3.5 billion EV battery plant roughly 30 miles southeast of Dayton, expected to grow to a $4.4 billion investment and 2,200 new jobs by 2025.
These historic investments position Dayton as a true industrial and logistics powerhouse for the next generation.
Wright-Patterson Air Force Base: The Economic Anchor
When we first began investing in the Cincinnati/Dayton region, Wright-Patterson’s substantial economic influence on the Dayton area required careful due diligence. It was already the largest single-site employer in Ohio with lots of high-paying jobs that required advanced levels of STEM education—but the future was uncertain due to the national Base Realignment and Closure Act (BRAC) which failed to identify which bases would be realigned and/or closed.
If Wright-Patterson was closed as a result of BRAC, it’s closure would devastate the Dayton area economy.
However, during our diligence we learned that “Wright-Patt” is one of the largest, most diverse, and organizationally complex bases in the Air Force, and as one expert told us:
“You would have to shut down the entire United States Air Force before you could shut down Wright-Patt.”
That insight proved correct. Instead of being closed, Wright-Patt emerged as a net winner under BRAC. Several USAF missions were consolidated into Wright-Patterson AFB:
- Pre-BRAC employment: 19,000
- Today: nearly 35,000 employees
More importantly, the base is the headquarters for several critical air force missions, including the Air Force Research Laboratory and the Air Force Materiel Command.
Wright-Patt anchors Dayton’s economy, supporting industries like aviation, aerospace R&D, and advanced manufacturing. It’s no accident that Joby Aviation chose to locate their groundbreaking new facility here—with reported collaboration from the Air Force Research Laboratory based at Wright-Patt.
Dayton’s Trajectory Looks Stronger Than Ever
Dayton’s transformation is no longer a hope—it’s happening.
Local leaders are strategically leveraging assets like Wright-Patt to attract cutting-edge employers and top talent from across the country. New job creation, historic levels of investment, and a revived entrepreneurial spirit are reshaping the region’s narrative.
The days of decline are fading.
Dayton’s job market isn’t just hot—it’s redefining the region’s future.