Columbus Retail Market Report
Growing Tech Presence Lifts Economy, Supplementing Retail Demand
Retail sales boosted by growing tech and student presence. Home to five Fortune 500 companies, Columbus has made a strong economic recovery from the health crisis and is poised for additional near-term growth. Major tech companies Intel and Hyperion are slated to establish sizable operations in the metro, with the former announcing it will bring 3,000 full-time jobs to the area. These moves will heighten central Ohio's status as a Midwest tech hub, while also increasing the number of higher-paying positions in Columbus. The resulting boost to the metro's median household income, paired with the Ohio State University maintaining in-person classes and lifting mask mandates, will induce more social gatherings and further elevate discretionary spending.