Ohio Offers the Top-Rated Business Climate in the Midwest
Andrew Deye, senior director, JobsOhio•Published: Mon Dec 12 2016
Over the past few years, Ohio’s business climate and economic outlook have improved more than any other U.S. state. In November, Site Selection magazine confirmed that Ohio’s business climate continues on a positive trajectory. Specifically, Ohio ranked third nationally in Site Selection’s 2016 Business Climate Ranking, edging out Tennessee and Texas and nipping at the heels of North Carolina and Georgia.
According to Site Selection, 50 percent of the overall Business Climate Ranking is based on a subjective survey of corporate site selectors who are asked to rank the states based on their recent experience of locating facilities in them. For example, does the state offer appropriate sites and buildings for expansion? The other 50 percent — the objective side — is a combination of factors primarily based on national project data.
Overall, Ohio’s #3 ranking is a positive indicator and reflective of JobsOhio’s client-centric, streamlined approach to serving corporations. Our state’s economic diversity, infrastructure, millennial talent, and Midwestern work ethic are reasons Ohio should continue to rise to the top of any site selection short-list in 2017 and beyond.
JobsOhio’s unique business model seems to have caught the attention of site selectors. What are we doing differently? It’s what I like to call “elevating impact” – both for our clients and for Ohio. For example:
- Our sector teams – who combined have over 200 years of industry experience – can uniquely speak the language of executives in the industries they serve;
- Our program portfolio continues to evolve as we launch a $50 million Research & Development (R&D) Center Grant Program to facilitate strategic corporate R&D centers in Ohio; and,
- A new Talent Acquisition Program will go live early next year and offer an array of customized talent services focused on talent sourcing, new hire prescreening and skill-based training to support select businesses expanding in or locating to Ohio.
Lowest Tax Burden in the Midwest Remains a Constant
According to a Site Selection survey of corporate real estate executives, the top three location criteria that matter most to site selectors are talent, incentives and tax climate. Ohio’s tax structure undeniably makes it easier for companies to succeed in Ohio. In fact, Ohio is only one of two Midwestern states to rank in the top 10 for business climate according to Site Selection magazine. With the lowest tax burden in the Midwest, Ohio’s tax structure means no tax on:
- Corporate profits
- Tangible personal property
- R&D investments
- Products sold to customers outside Ohio
Site Selection Editor in Chief Mark Arend gave a nod to Ohio in a recent blog for its strong performance according to site selectors’ input and the data that confirmed their instincts. Arend’s advice to states that want to compete: “When you have a good story to tell, tell it.” And that’s exactly what we are doing.
In July, JobsOhio launched the “It’s On” marketing campaign, which broadcasts to the global business community why companies such as Amazon Web Services and Honda choose Ohio for major projects aimed at creating shareholder value. It also begs the question: Why aren’t you here yet?
Forty-seven states down, two to go. For us, third place isn’t good enough. JobsOhio won’t rest until our state becomes the recognized leader in economic development in the U.S. with the best people, best programs and best results. Welcome to Ohio. It’s On.
To schedule a free 30-minute consultation with a JobsOhio industry expert, call 1.844.888.5515.