When considering the best states in the country for business, Ohio should be near the top.
Ohio has gained accolades from a host of leading business and news publications including CNBC, U.S. News, and Chief Executive. Ohio has been recognized by these publications for its winning business climate, ease of doing business, research and training opportunities and small business success.
There are many factors as to why Ohio increasingly stands out: Ohio boasts a geographical and logistical advantage as well as a culture of innovation. Add in a pro-business climate, diversified economy, world-class academic institutions, workforce training and an exceptional quality of life, and it’s easy to see why Ohio has created a climate that is uniquely hospitable for business investment and growth.
Companies from a variety of industries ranging from Fortune 500 corporations to small startups have found their home in America’s heartland. Ranked third in the U.S. for business climate by Site Selection Magazine in 2020, Ohio supports businesses and is a partner for growth, expansion and long-term goals.
Business Climate that Rivals the Coasts
Ohio offers a business environment that attracts global investment and fosters growth. Ohio’s simplified tax structure, central location and affordable cost of doing business are catalysts for past and future economic diversification and prosperity.
With a high concentration of Fortune 500 and 1000 company headquarters operating out of Ohio, it’s no surprise that Ohio boasts the seventh largest economy in the U.S. and the 21st largest economy in the world.
Location and Infrastructure Keeps Commerce Moving
Quality infrastructure is critical to support supply chains, facilitate communication and connect businesses to reliable and affordable energy sources. Having made significant investments in transportation, digital technology and trade, Ohio has created a dependable infrastructure needed to do global business.
Ohio is situated in a uniquely advantageous location within a one-day drive from more than 60 percent of U.S. and Canadian populations as well as easy flights to North American markets. Airports in Cincinnati, Columbus and Cleveland service 68 daily nonstop flights to New York City along with nonstop flights to west coast destinations including the San Francisco Bay Area and Seattle.
Now more than ever, digital infrastructure is the key for successful business in the modern marketplace. The digital infrastructure critical to global commerce spans the state, offering networks access to speeds of up to 100Gbps and creating a gateway for better operations and communication. Ohio has a digital network covering the state that links government, universities, and businesses, ensuring the steady flow of ideas, commerce and communication.
Ohio is a Research and Innovation Powerhouse
As the global economy transitions from downturn to recovery, Ohio is positioned to lead the way thanks to world-class research and development (R&D) resources. In Ohio, R&D is facilitated within an array of connected incubators, universities and private corporations. These networks channel investment, streamline invention, prepare workforce and accelerate commercialization.
In 2018, four Ohio universities were among the top 100 in the world for patents issued in the U.S. to protect new inventions. Ohio is also home to a first-of-its-kind partnership designed to build, retain, and attract talent in Ohio called the Cincinnati Innovation District™. This is a unique, public-private partnership that aims to accelerate more than 15,000 STEM graduates and $2 billion in research to bring in up to 20,000 new jobs and $3 billion in annual economic impact. This initial Innovation District will serve as a blueprint for similar sites across the state.
Through smart, calculated initiatives and investments, Ohio is prioritizing improving the state’s innovation continuum, including research opportunities, startup development, capital attraction and placemaking to enhance a community’s quality of life.
Ohio’s research and innovation strategies foster resilient businesses and communities by bridging the gap between the pursuit of knowledge and speed to market.
The Workforce and Talent Top Companies are Looking For
Ohio’s instrumental advantage is its dedicated and loyal workforce. When companies invest in the state, Ohio’s greatest asset becomes theirs.
With more than 300 institutions of higher learning, including universities, community colleges, trade schools and workforce training programs, Ohio has a steady supply of educated and motivated students ready to enter the workforce.
JobsOhio, the state’s private nonprofit economic development corporation, has created a multi-faceted approach to supporting Ohio companies through targeted, strategic partnerships. JobsOhio helps companies navigate the plentiful and professional workforce partners in Ohio. It also invests in increasing a skilled talent pool through key strategies that can recruit top talent, upskill incumbent workers and reskill workers for the jobs of the future.
Talent is drawn to the state because of Ohio’s affordable cost of living and diverse communities, which offer a successful and fulfilling life, both professionally and personally.
Ohio ranked the seventh best state for opportunity in 2019 by U.S. News—a ranking that considered affordability (ranked second), economic opportunity, and equality. In fact, the cost of living even in Ohio’s major cities is 41-77 percent lower than San Francisco and New York City. And in 2019, Forbes Magazine ranked Ohio #2 in the U.S. in Quality of Life for the third straight year.
Ohio is where people don’t have to choose between a rewarding professional career and a well-balanced personal life. Businesses find that Ohio furthers their success by having the resources to support their goals. That’s why companies are investing in Ohio.
Join them and make Ohio a part of your success story. Visit jobsohio.com to learn more.