News & Press
Ohio Ranks #3 in 2023 ‘Prosperity Cup’ Ranking of State Competitiveness
COLUMBUS, OHIO May 11, 2023 – Site Selection magazine has ranked Ohio #3 in its 2023 Prosperity Cup rankings of state-level economic development competitiveness. This year, Ohio jumped four spots, securing third place among all states and demonstrating the Buckeye State's relentless commitment to business attraction and sustainable growth.
JobsOhio, Ohio's private nonprofit economic development corporation, sees this as a reflection of the collective work done across the state to bolster job creation, capital investment, and talent attraction. The achievement underscores the strength of Ohio's workforce, the dynamism of its businesses, and the collaborative spirit of partners across the state – all vital contributors to building an innovation-centric, business-friendly environment that improves the livelihoods of Ohioans.
Governor Mike DeWine celebrated the ranking, saying, "Ohio is the heart of it all, and the consistently high rankings in economic development reflect the strength of Ohio's commitment to innovation, infrastructure, and talent development. Our efforts in bolstering Ohio's success have been designed to ensure that all Ohioans have the tools to live up to their full potential, ultimately driving economic growth and prosperity."
Lt. Governor Jon Husted, a tireless advocate for economic development in Ohio, echoed these sentiments, stating, “We have always known that Ohio is a great place to do business, and this ranking further solidifies that Ohio is on the rise. We’re proud of how far we’ve come, but there is more work to do. We have our sights set on the number one spot and all that comes with being recognized as a consistent leader in creating a brighter future for businesses and their employees.”
The Prosperity Cup rankings are an index of 10 criteria that measure states' competitive edge in economic development, including project, capex, and job creation data. Ohio's robust performance is a testament to its diverse economy, low cost of living, skilled workforce, and strategic location near 60 percent of the American and Canadian market, making it an attractive hub for businesses seeking to re-shore critical industries and rebuild the national supply chain.
"Ohio's record-shattering year of megaproject wins secured exciting new industries, 26,000 new jobs, and $30.87 billion in durable CAPEX investments to the state," said J.P. Nauseef, president and CEO of JobsOhio. "While these results boosted Ohio's business competitiveness ratings in 2022, the bigger story is the promise of long-term prosperity and economic resilience Ohio has gained in recent years from the diversity of leading industries locating and expanding here. These businesses provide abundant career opportunities for today's workforce and the rising talent in our schools and universities."
As the global economy continues to evolve coming out of COVID-19 and other supply chain-related challenges, JobsOhio remains committed to its mission of driving economic development, attracting businesses, and creating jobs in Ohio. With this momentum, Ohio looks forward to fostering even greater success in the years to come, solidifying its position as a top contender for economic growth and prosperity on the national stage.
About JobsOhio
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention, and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership, and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter, and Facebook.
For more information, contact:
Matt Englehart, JobsOhio