CADIZ — Harrison County has been recognized as the fastest-growing local economy in Ohio, according to a recent analysis by financial news source Wall St. 24/7.

The county recorded a 129.5 percent gross domestic product growth rate from 2012 to 2015, and a gross domestic product of $732.2 million. Manufacturing was found to be the fastest-growing industry, with 3.1 percent employment growth.

Harrison County has experienced exponential economic growth in the past few years due to its position in the United States’ petrochemical industry, the report notes. The Appalachian Partnership for Economic Growth considers Ohio to be a prime location for petrochemical development, due to its proximity to the Utica and Marcellus shales, which results in large savings on transport fees for natural gas and oil. Additionally, Ohio is within 600 miles of 60 percent of North American manufacturing centers and more than 50 percent of the U.S. population, according to APEG.

The industry has contributed to an increase in tax revenue in the county.

Between 2010 and 2015, $11 million in taxes were generated in Harrison County, and $31.4 million was spent to improve more than 50 miles of roads. The industry also has provided an improved infrastructure and new jobs, the report notes.

Nicholas A. Homrighausen, Harrison County executive director of Community and Economic Development, said the news came as no surprise to him.

“This is further evidence that businesses should be investing to take full advantage of the new global economy in Harrison County and the eastern Ohio region,” Homrighausen said. “I’ve said it before — the growth in our area is laying the groundwork for an economic powerhouse of the future. Right here in eastern Ohio, we find ourselves at the forefront of the new age economy. It is up to us to take full advantage of it, and this study from Wall St. 24/7 shows we are on the right track.”

Harrsion County was one of only two regions to list manufacturing as the fastest-growing industry of the 50 counties identified in the report. It was in the top four in growth percentage in the United States, trailing only Roberts County, Texas; Laurens County, S.C.; and Doddridge County, W.Va.

Harrison County Commissioner Paul Coffland said it’s important to realize the benefit of what is happening to the local economy. Major companies are willing to invest billions of dollars into the area, and in return, the county has shown that it has the ability to house them, as well as to offer the land for spinoff businesses, Coffland added.