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Inward Investment Guides

Improving the Commute - and Economic Development - With BRT

Tom Ewing, Staff Editor, Area Development (Q2-2016)
Bus Rapid Transit (BRT) offers communities many advantages, but systems across the nation have met with varied measures of success. More

Global Companies Partnering with U.S. Universities

Dave Claborn , Director of Development and Community Relations, Ohio State University, Marion (Location USA 2016)
Hundreds of U.S. universities are collaborating with global companies to help them bring innovative ideas to the American marketplace. More

U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC (Q1 2016)
Growing companies need to be aware of the many changes states are making to their incentives policies. More

High – Speed Network Locations

Dale D. Buss, Staff Editor, Area Development (Directory 2016)
Cities across the nation are installing high-speed fiber-optic networks for their own institutional purposes, with the added benefit of attracting growing companies. More

Regional Report: Industrial Diversification Helps Midwest Meet Today’s Economic Challenges

Dale D. Buss, Staff Editor, Area Development (Directory 2016)
The largely Midwest-based automotive is humming along to record sales and hauling hundreds of companies in the region along with it while technology companies have begun to warm up to the talent and work ethic that resides in America’s heartland. More

Advanced Manufacturing Changing the Economic Landscape

Dale D. Buss, Staff Editor, Area Development (Q4 2015)
Across the country, states and localities are working with manufacturers to create and grow outposts for advanced manufacturing. More

Georgia Once Again Leads the 2015 Top States for Doing Business

Mark Crawford (Q3 2015)
An attractive business environment, quality labor pool, and well developed infrastructure are among the shared advantages of those states ranked by the location consultants as the top choices for business. More

Call Centers: Reshoring Instead of Offshoring

Dale D. Buss, Staff Editor, Area Development (Q3 2015)
Call centers are coming back to America, and flyover country is proving to be the biggest beneficiary in new jobs and overall boosts to local economies. More

OHIO at a glance

POPULATION: 11,570,808 Source: US Census, 2013 Population Estimates

LABOR FORCE: 5,765,704 Source: US BLS, 2013 annual, not seasonally adjusted

RIGHT TO WORK: No

TARGET INDUSTRIES: Advanced manufacturing, automotive, aerospace and aviation, biohealth, energy, financial services, information technology, agribusiness and food processing, chemicals and polymers

COLLEGE GRADUATES: Age 25 and over) 6.1%

BASIC BUSINESS TAXES:
Commercial Activities Tax: 0.26 percent of taxable gross receipts of more than $1,000,000 per calendar year is subject to this tax. Taxpayers with gross receipts between $150,000 and $1,000,000 in a calendar year must pay an annual minimum tax of $150 per year.

Sales and Use Tax:State sales and use tax rate is 5.75 percent and applies to the retail sale, lease, and rental of tangible personal property as well as the sale of selected services in Ohio. In transactions where sales tax was due but not collected by the vendor or seller, a use tax of equal amount is due from the customer. Counties and regional transit authorities may levy additional sales and use taxes. Counties and regional transit authorities may each levy sales tax in multiples of 0.25 percent up to 3 percent. The total combined rate — state, county, and transit authority — may not exceed 8.75 percent. Exemptions for equipment purchases by manufacturing, logistics, and data centers.

Property Tax: Assessed by cities, counties, and school districts, collected by counties, on 35 percent of true value for real property. No personal property tax.

BUSINESS INCENTIVES:
Economic development financing

Direct loans for land and buildings

Enterprise bond funds

Tax credits and abatements

Roadwork development

Workforce training grants

Brownfield redevelopment

Principal Manufacturing industries

  • Transportation Equipment
    17.3%
  • Fabricated Metal Products
    15.1%
  • Machinery Manufacturing
    11.6%
  • Food Manufacturing
    8.6%
  • Plastics and Rubber Products Manufacturing
    7.9%
  • Chemical Manufacturing
    6.5%
  • Primary Metal Manufacturing
    5.6%
  • Electrical Equipment, Appliance, and Component Manufacturing
    4.0%
  • Nonmetallic Mineral Product Manufacturing
    3.6%
  • Other Manufacturing Industries
    19.7%
Source: US Bureau of Labor Statistics