A Business Friendly Approach
Ohio is the birthplace of some of the world’s greatest inventions – the airplane, the lightbulb, the traffic light and even Superman. Today, as the country rebounds from an unprecedented crisis, Ohio continues to benefit from that innovative spirit in addition to the decisive interventions that helped to mitigate the impact on our state’s businesses and the economy.
Ohio offers a welcoming business climate that attracts global investment and fosters growth in businesses large and small. Ohio’s simplified tax structure, central location, and affordable cost of doing business are catalysts for economic diversification and prosperity.
Fast Facts
- With a Gross State Product (GSP) of $675 billion in 2020, Ohio is the 7th largest economy in the U.S., and ranks 3rd in manufacturing gross domestic product
- Ohio’s economy is ranked 21st worldwide
- In 2020, 171,073 new businesses were created in Ohio, compared to just 80,273 in 2010
- JobsOhio sector real GDP growth is 30.4 percent from 2010-2019, more than the Region (19.2 percent) and the country (28 percent)
- The state’s Common Sense Initiative has created a jobs-friendly regulatory environment
- Accelerated environmental permitting process takes 180 days or less
- Ohio has enjoyed stable ratings from Moody’s, S&P, and Fitch of Aa1/AA+/AA+ for more than 20 years
- Ohio ranks No. 10 in CNBC's 2021 America’s Top States for Business; No. 2 in cost of doing business, and No. 7 in access to capital
Ohio Business Spotlight
Positioned to Lead Into the Future
“Our Responsible RestartOhio plan is the best guarantee that Ohioans will feel safe going to stores and employees will feel safe going to work. I'm optimistic about our future, but we can't be reckless.”
Mike DeWine
Governor of Ohio
“We’re proud of the partnership Ohio has formed with the ELITE program and look forward to the growth opportunities this collaboration opens up for businesses.”
Jon Husted
Lieutenant Governor of Ohio
“As technology proliferates and we enter a new era of entrepreneurship, Ohio is positioned to lead in the future of work and innovation. The Midwest boasts the raw ingredients to build the next economic powerhouse with Ohio leading the way through collaboration and innovation.”
Falon Donohue
CEO, Venture Ohio
Explore More
Business Incentives
Grants, loans, funds, tax credits, and more help businesses do business.
Demographics & Workforce
Ohio’s workforce is educated, committed, skilled, and productive.