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Regional Report: Advanced Industry Clusters Fueling Growth in the Midwest States

Mark Crawford (Directory 2015)
Economic growth in the Midwest was steady in 2014, thanks to solid performances by the agriculture and manufacturing sectors, especially transportation equipment. The economy also got a boost from the surging energy sector, led by oil-shale production in Ohio, which improved sales for supporting industries like sand, chemicals, and steel drill pipe made in Midwestern steel plants. More

Front Line: Preparing for Takeoff in the Drone Industry

Craig Guillot (Q4 2014)
As drones become smaller, more affordable, and easier to operate, they’re being eyed for use in everything from agriculture to construction and real estate. The Federal Aviation Administration (FAA) says there could be 30,000 of them in American skies by 2020, and according to the Association for Unmanned Vehicle Systems International (AUVSI), the business of manufacturing and flying drones could become an $82 billion industry within 10 years. More

Critical Site Selection Factor #7: Lower Corporate Tax Rate Rates = Stronger Economies

Dale D. Buss, Staff Editor,  (Q4 2014)
A state’s corporate tax rate is usually a bedrock indicator of its business-friendliness and a simple but substantial number that has a huge long-haul impact on the financial performance of a new plant or other facility. More

Revolutionary Advances in Life Sciences amid Industry Disruption and Uncertainty

Mark Crawford (Q4 2014)
Major economic, social, and regulatory factors are having big impacts on the life sciences and medical device industries, representing an opportunity for innovative companies to become new leaders and gain market share. More

Top States for Doing Business 2014: Georgia Unseats Texas, Industrial Midwest Rises

Dale D. Buss, Staff Editor,  (Q3 2014)
The list continues to be dominated by states in the South and mid-South as states from the industrial Midwest scratch their way back into position as major players in U.S. economic-development. More

Ohio’s Economy Emerges from Recession While Building a Pro-Business Reputation

Steve Stackhouse-Kaelble (Q3 2014)
Ohio benefits from access - access to markets, access to workforce, access to suppliers, and access to customers – and, regional developers are embracing the challenge of getting the word out about the area’s business advantages. More

Front Line: Light Manufacturers Create a Unique Supply Chain in Central Ohio

Cynthia Kincaid , Kincaid Strategic Partners (Q3 2014)
At the New Albany Personal Care and Beauty Innovation Campus, a cluster of manufacturing businesses are working together as a supply chain to create a wide variety of packaged healthcare and beauty products – all developed and completed at the same business park and then shipped all over the world. More

First Person: A California Pioneer Brings Source Manufacturing Jobs Back to Ohio

Ulrich Honighausen, CEO, hausenware, inc. (Q3 2014)
A designer and sourcer of tableware for several large U.S. retailers has opened up a new pottery-making firm that utilizes local skilled talent to manufacture products for the American market. More

OHIO at a glance

POPULATION: 11,536,504 (2010 Census)

LABOR FORCE: 5,900,000 (2010 annual average)

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES:Advanced manufacturing, services, trade

EXPANDING INDUSTRIES: Polymers and chemicals, information technology, biohealth, logistics

COLLEGE GRADUATES: Age 25 and over) 24.6%

BASIC BUSINESS TAXES:
Commercial Activities Tax: 0.26 percent of net state gross receipts

Sales and Use Tax: State sales and use tax rate is 5.5 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 8.5 percent.

Property Tax: Assessed by cities, counties, and school districts, collected by counties, on 35 percent of true value for real property

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
    15.8%
  • Fabricated Metal Products
    15.3%
  • Machinery
    11.1%
  • Food
    8.5%
  • Plastics
    8.0%
  • Chemicals
    6.4%
  • Primary Metals
    6.0%
  • Electronic Equipment
    4.1%
  • Printing
    3.1%
  • Other Manufacturing Industries
    21.7%