IHS Markit

On its surface, economic growth data out this week will look like one for the record books. But dig in, and the picture is not as bright.

The Commerce Department is expected to report on Thursday record-setting growth in gross domestic product during the most recent quarter, reflecting pent-up demand as businesses reopened and consumers streamed back into the marketplace.

From his bar in Shadyside, Ohio, Matt Coffland has been counting on his town getting a new petrochemical plant since it was first planned, seven years ago. He says the southeastern part of the state has long been neglected.

"For us to get something like that, rightfully, I think we deserve it by now," he says.

The plant, to be built by Thailand-based oil and gas company PTT, would be a major construction project.

"You're talking an influx of close to 10,000 people at one point," Coffland says.