OHIO RANKS #5 IN CNBC “TOP STATES FOR BUSINESS” REPORT

Buckeye State Ranks #1 for Infrastructure, #2 for Cost of Doing Business and jumps from #12 to #6 for Technology and Innovation in network’s authoritative study

Columbus, Ohio July 10, 2025 - Ohio has climbed from #7 in 2024 to #5 in 2025 in CNBC’s annual “America’s Top States for Business” rankings, continuing a three-year ascent that began with a jump to #12 in 2023. This performance marks Ohio’s highest ranking since the index launched in 2007. Among the states CNBC ranked as the Top 5 States for Business overall, Ohio has the best infrastructure, the lowest cost of doing business and the lowest cost of living.

Though the fundamentals of the study remain unchanged, CNBC weighted Economy (17.8%) and Infrastructure (16.2%) more heavily than any other factors this year. Ohio’s balanced budget, diversified GDP growth, abundant low-cost energy, and large-scale computing power helped the state capitalize on the new scoring criteria.

“From construction-ready sites and reliable energy to the ingenuity and hard work of our people, Ohio provides companies with unmatched confidence in our investment environment when they are looking to grow,” said Governor Mike DeWine. “As we keep taxes low, cut red tape, and invest in the nation’s top infrastructure, it’s no surprise that Ohio outranks most of the country as a top state for business.”

“Companies need talent, and talent needs affordability,” said Ohio Lt. Governor Jim Tressel. “By reducing the cost of business and keeping the cost of living low, Ohio is showing the nation how to grow an economy that works for everyone.”

Why Ohio is a Top 5 State for Business:

INFRASTRUCTURE: CNBC ranking moves Ohio to #1 from #13 in 2024

Ohio has the fourth largest interstate highway system in the nation, the fourth largest network of operating railroads, and the fifth highest state in the nation in warehousing and storage services. The state also invests heavily in preparing industry-ready sites through the All Ohio Future Fund and JobsOhio’s Site Inventory Program. These locations provide robust, reliable access to power and water, are located in regions with minimal natural disaster risk, and offer a strategic logistical advantage, placing finished products within a day’s drive of 60% of North America’s population.

COST OF DOING BUSINESS: Ohio ranked #2 for the second straight year

The state has no corporate income tax. Earlier this year, Ohio doubled its exclusion amount from the commercial activity tax (CAT) from $3M to $6M. That exempts about 90% of Ohio-based businesses.

WORKFORCE: Ohio moved up 7 points

Ohio’s workforce is 5.5M+ strong, the 7th largest in the U.S. and the 3rd largest manufacturing workforce in the U.S. The state is also making key investments to further support and expand its workforce initiatives like TechCred and JobsOhio’s Talent Acquisition Services.

COST OF LIVING: Ohio remained in Top 10 with the #7 rank

The top individual income tax rate was reduced to 3.5%. As of May 2025, the median home price in Ohio is $268,200, up a modest 3.2% year-over-year. Meanwhile, active listings rose 14.6%, helping keep housing relatively affordable compared to coastal markets.

TECHNOLOGY & INNOVATION: Ohio gets a B+ with the rank of #6

Ohio now hosts 1,500+ data-center facilities, a 4X increase since 2011, and the Intel-anchored Silicon Heartland keeps the state among America’s fastest-growing semiconductor hubs.

ACCESS TO CAPITAL: Ohio moves to #7 from #10

Ohio has earned the highest possible credit ratings – AAA/Aaa/AAA – from all three major rating agencies for the first time in state history.

EDUCATION: Ohio moves up six spots in rankings

The Ohio Discovery Corridor’s three Innovation Districts will boost annual STEM degree output by 47,500 graduates, supported by more than 200 institutions, including seven R1 research universities.

Blue-chip manufacturers quickly followed suit: Kimberly-Clark committed $800 million for a next-generation paper-products plant in Trumbull County; Amgen plans to invest $900 million to expand biopharmaceutical production in Franklin County; and Meta selected Northwest Ohio for an $800 million AI-optimized data center. These marquee wins build on the momentum of earlier megaprojects from AWS, Intel, Sierra Nevada, Joby Aviation, and Medpace, driving a surge in total fixed-capital commitments that is now $87 billion since 2019.

“Ohio’s first top five ranking, and number one in the Midwest, demonstrates momentum generated by shared vision, strategic investment, and collaboration with our partners at the State of Ohio and the regional and local level that lets us provide solutions at speed businesses rarely see,” said JobsOhio President and CEO J.P. Nauseef. “Ohio continues to lead the economic renaissance in the American Midwest and when you combine ready-to-build sites, the nation’s top infrastructure, leading cost advantages, and a skilled talent pipeline that’s widening every day, it’s easy to see why vital industries are converging in Ohio to build the future.”

Ohio’s record ranking is only the beginning. The JobsOhio 2030 strategic plan will press the accelerator on sites, talent and innovation, so the wins keep coming and the benefits keep spreading. Find how you can be part of the momentum at JobsOhio.com.

ABOUT JOBSOHIO

JobsOhio, Ohio's private nonprofit economic development corporation, enhances company growth and personnel development through business attraction, retention, and expansion across ten competitive industry sectors. With a team of seasoned professionals, JobsOhio utilizes a comprehensive network to foster talent production in targeted industries and attract talent through Find Your Ohio. Collaborating with seven regional partners, including Dayton Development Coalition, Lake to River Economic Development, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership, and Team NEO, JobsOhio delivers world-class customer service to provide companies with a competitive advantage. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.