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Inward Investment Guides

Choosing the Optimal Site for an Aviation-Related Project

Von Hatley, Managing Director, Jones Walker Consulting, LLC (Q3 2015 Auto/Aero Site Guide)
If current trends continue, a conservative estimate reveals there will be more than 1,000 announcements of aviation-related projects in the United States over the next decade. The best location decisions will be made by project teams that not only look at the current overall costs, but also have a deep understanding of hidden site development costs, in addition to the long-term political/financial stability that a region can provide. More

2015 Gold & Silver Shovel Awards Recognizing Excellence in State Job Creation and Economic Development Efforts

Area Development Special Presentation (Q2 2015)
Area Development’s annual awards recognize individual states for their overall economic development effectiveness. This year, we honor 21 states for their achievements in 2014 in garnering investment and job creation with Texas, Georgia, Tennessee, South Carolina and Nevada awarded the Gold Shovel. More

How U.S. States are Targeting Foreign Direct Investment

Thomas J. Stringer, Esq., Principal, Site Selection & Business Incentives, Ryan & Company (Location USA 2015)
State and regional economic development organizations are developing a variety of strategies to market their best assets, build relationships, and improve their business climates to attract FDI. More

First Person: Renaissance or Cyclical Recovery? Strategy for Sustained U.S. Manufacturing Competitiveness Needed

Adams Nager, Economic Research Assistant, Information Technology and Innovation Foundation (Q1 2015)
Adams Nager, an economic research assistant at the Information Technology and Innovation Foundation, recently talked with Area Development about the state of manufacturing in the U.S. In his career, Nager has focused on macroeconomic growth, competitiveness, and tax theory. More

10 Inland Ports to Watch

Tim Feemster, Managing Principal, Foremost Quality Logistics (Intermodal Sites)
Inland ports are poised to play an increasingly vital role and could be a large part of the answer to both the fuel and congestion concerns in the domestic supply chain. More

Slideshow: 2014 Gold and Silver Shovel Award Recipients

Area Development Special Presentation (Directory 2015)
Shown here are 12 of the recipients of Area Development’s 2014 Gold & Silver awards, which were bestowed in recognition of the states’ efforts to capture new facility and expansion projects that resulted in significant investment and job creation. All told, 20 states were recognized for their efforts. More

Shale Gas Revitalizing U.S. Manufacturing Industry…While Environmentalists Have Their Say

Geraldine Gambale, Editor, Area Development Magazine (Directory 2015)
Although some states are rolling back or banning fracking due to potential environmental impact, overall, U.S. shale gas development and production is surging and helping to trigger a resurgence in manufacturing. More

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

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