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Inward Investment Guides

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 Magazine 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

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

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