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 State, Provincial and International Reviews 
Thursday, January 10 2019
Ohio's Advantages Give Companies an Edge

Ohio is the birthplace of some of the world’s greatest inventions – the airplane, the lightbulb, the traffic light and even Superman. It is also the home of several significant “firsts.” The first FDA-approved, 3D-printed pharmaceutical was made in Ohio. Ohio is the first state to allow businesses to pay taxes using Bitcoin. And in 2018, the London Stock Exchange Group launched in Ohio its first ELITE USA business training program designed to support business leaders in their growth aspirations.

Reputable brands such as Fortune, Ernst & Young and the International Economic Development Council have recognized Ohio for its unique assets that favor business. These assets help explain why Ohio is the only state to have two cities named to Forbes’ list of “Top 10 Rising Cities for Startups.”

This momentum has sent a strong message that Ohio is a great state for business, attracting companies in a variety of industries and of all sizes, including entrepreneurs, middle-market businesses and Fortune 500 corporations.

Ohio boasts four attributes that create a strong foundation for every company invested in the state to excel: 

  • An attractive business climate featuring a growth-friendly tax structure, state budget reserves, multiple thriving industries and continued private-sector job growth provide stability and predictability for businesses operating here. 
  • An integrated infrastructure, connected by highways, railroads, airports, waterways, intermodal facilities and low-cost energy sources, enables companies to obtain raw materials, produce goods and deliver products to market more efficiently and cost effectively. 
  • A skilled workforce trained at world-class education institutions and known for a strong work ethic and manufacturing expertise contributes to lower turnover and higher productivity.
  • A robust research and innovation network consisting of collaborative public and private organizations, accessible academic and clinical resources, and motivated capital and business supporters helps Ohio companies continuously improve their competitive positions.

Business Climate Built on What Works for Companies
A friendly business environment attracts global investment and fosters growth. Ohio’s simplified tax structure and affordable cost of doing business are catalysts for ongoing economic diversification and prosperity.

Ohio’s economy consists of diverse and thriving industries that reflect the Midwest’s industrial leadership as well as its continuous innovation. JobsOhio executes strategies around the industries in Ohio that show the most growth: advanced manufacturing, aerospace and aviation, automotive, energy and chemicals, financial services, food and agribusiness, healthcare, technology, and logistics and distribution.

For international companies seeking access to the U.S. market, Ohio is an advantageous location. The State's welcoming culture, skilled workforce, low cost of doing business, and reliable and affordable energy make the state an appealing choice for international investors.

A Location with Strategic Benefits
The successful economies of tomorrow require quality infrastructure that supports supply chains, facilitates communication, moves products to market efficiently, and connects businesses to reliable and affordable energy sources. Thanks to investments in transportation, trade and digital technology, Ohio has the dependable infrastructure global businesses require.

Ohio is geographically advantageous, sitting within a 600-mile radius of more than half of the U.S. and Canadian populations. Major cities including Chicago, New York City and Toronto are easily accessible via air, rail and road. Among the nation’s leaders for trucking and storing goods, Ohio’s north coast on Lake Erie includes a coveted shipping service linking the industrial Midwest, the Port of Toledo and the Great Lakes to Europe.

Ohio sits on top of the Marcellus and Utica shale formations, which have accounted for 85 percent of the U.S. shale gas production growth since the start of 2011. Access to natural gas provides a cleaner, more affordable power source for businesses.

In addition, digital infrastructure critical to global commerce spans the State, offering networks access to speeds of up to 100 Gbps, creating a gateway for better operations and communication. Most of all, Ohio has a connected digital network covering the state that links government, universities and businesses creating opportunities for collaboration and R&D.

Ohio is building an infrastructure designed for a fast, cost-effective, digital and absolutely efficient future − one connection at a time.

A Well-Trained Workforce for Every Business and Business Needs
With over 5.6 million people in the workforce, Ohio is home to an abundant, vibrant and industrious talent pool that offers a wide variety of skills, from engineers and scientists to tech-savvy coders, computer numerically controlled (CNC) operators and beyond.

Ohio’s world-class universities, community colleges and trade schools, workforce training programs, partnerships and apprenticeship strategies complement the work ethic of Ohioans. The result is a workforce that is educated, committed, skilled and productive and able to meet the needs of a variety of employers, including advanced manufacturers, financial services firms and healthcare providers.

Bootcamps, mobile training labs, industry-led partnerships with universities and countless initiatives give companies a seat at the table in creating a talent pipeline that can meet the demands of today and is prepared for the needs of the future.  

A Collaborative Research and Innovation Network
In Ohio, the tangible connection between research, innovation and economic success is found among an array of connected incubators, universities and private corporations. These networks funnel investment, streamline invention and accelerate commercialization.

The investments that drive economic growth and spur innovation come from a variety of public, private and philanthropic sources. In Ohio, they stem from strategic grants and collaborations that leverage institutions of excellence. Research and innovation are ever-present in Ohio’s strategies to compete in the global economy. They bridge the gap between the pursuit of knowledge and speed to market.

Ohio’s roster of colleges and universities includes a number of schools with national and international reputations for research excellence. Businesses like JPMorgan Chase have partnered with universities, communities and private organizations to launch innovation labs.

Ohio is also a testing ground for innovation. Long known as a microcosm of the U.S., the State has served as the reoccurring location for Ohio-based companies, such as Wendy’s to test new foods, Kroger to experiment with technologies that improve retail, and Honda of America to take autonomous vehicles from the lab to the busiest intersection in the city of Marysville. 

A Client-Focused Business Partner
The right and best mixture of every asset is identified for companies by a unique, strong and collaborative network of economic development partners. Business attraction, retention and expansion in Ohio are driven at the state level by JobsOhio (a private nonprofit economic development organization), six regional economic development organizations and a host of local economic development organizations.

Through a customer-focused approach to business, this network provides support to companies at every step of the process, maintaining a relationship long after a company’s new investment is underway. Industry experts and responsive project teams allow companies to choose the right location for their needs and become operational faster. From ideation to production through delivery, Ohio has the resources that companies need to succeed.

A history of invention and a future of innovation. What happens in Ohio impacts the world, and that’s why companies across the U.S. and around the globe have proudly selected Ohio. Ohio invites you to expand, grow and thrive with it. Make Ohio home.

Posted by: AT 09:15 am   |  Permalink   |  Email
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