Ohio Soars to No. 5 in Area Development’s Top States for Doing Business Rankings
JobsOhio today announced that Ohio has climbed to the No. 5 spot overall in Area Development Magazine's prestigious annual Top States for Doing Business rankings. The 2023 ranking marks a significant leap for the Buckeye State, which ranked No. 8 last year, thanks to Ohio's strengths across a range of attributes and economic development practices.
According to Area Development's 2023 survey of site selection consultants and business leaders, Ohio shined in many categories that are top of mind for companies planning expansion or relocation projects. The state earned top 10 rankings in 12 out of 14 factors, including No. 1 for water availability, No. 3 for available real estate, business incentive programs, and competitive labor market, and No. 4 for logistics and infrastructure.
"This latest ranking confirms that Ohio's strategic investments to foster innovation, develop our workforce, upgrade infrastructure statewide, and streamline regulations are getting results," said Ohio Governor Mike DeWine. "We will continue our work in every corner of the state to make Ohio the best place for businesses to thrive."
"This recognition affirms that Ohio continues to excel in the areas that matter most to job creators looking for their next growth opportunities," said Lt. Governor Jon Husted. "Our strategic blend of developable sites, robust infrastructure, skilled workforce, business-friendly policies, and an unmatched support network continues to make Ohio an attractive proposition for businesses of all sizes and sectors looking to thrive."
Ohio also performed well in other key categories like Responsive State/Local Government (No. 5), Favorable Regulatory Environment (No. 7), Speed of Permitting (No. 8), Overall Cost of Doing Business (No. 8), Corporate Tax Structure (No. 9), and Workforce Training Programs (No. 10). This balanced performance underscores why both large corporations and small businesses can prosper in the Buckeye State.
"The consistent rise in this vital ranking coincides with Team Ohio's integrated approach, which unites our economic development partners at the state, regional, and local levels to create opportunities for business growth and new investment," said JobsOhio President and CEO J.P. Nauseef. "Together, we provide businesses and their executives unmatched responsiveness, resources, and collaboration when considering Ohio for investment projects."
The full rankings are included in Area Development's Q3 2023 issue. To learn more about Ohio's rise to No. 5 and why businesses are choosing the Buckeye State, contact JobsOhio today.
For more information, contact: