Economy of Ohio

The state was edged out only by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development.

The Top 5 states ranked with the lowest effective tax rate on new investment are: (1) Maine (3.0%), (2) Oregon (3.8%), (3) Ohio (4.4%), (4) Wisconsin (4.5%), and (5) Illinois (4.6%).

The state was edged out by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development.

In 2007, foreign-based companies employed 229,500 of Ohio's citizens, led by Japan, the United Kingdom, Germany, France, and Switzerland.

[49] Boeing's Central Ohio Aerospace and Technology Center in Heath is a venture amongst five of the top 10 U.S. defense contractors, including Atlantic Inertial Systems, Honeywell, Kearfott, Northrop Grumman, L3 Communications, and Raytheon, which is also the headquarters of the Air Force Metrology and Calibration Program Office.

[54] The United States Department of Defense currently maintains a large Supply Center in Whitehall, a suburb of Columbus.

Wright-Patterson Air Force Base, located in Dayton, and partially named for the Wright Brothers from Ohio who are credited with inventing the airplane, employs 27,400 residents.

[61] Biotech research and development employs directly 12,415 residents, while agricultural bioscience contributed the largest economic impact, at $10.7 billion.

[78] Ohio's agricultural industries represent $124 billion of the state's economic output, employing one in eight Ohioans directly or indirectly.

Up until 2008, Ohio had four banks among the Top 25, however the acquisition of Cleveland-based National City Corp. by Pittsburgh-based PNC Financial Services eliminated the fourth.

[112] The Census Bureau expects that an addition $1.1 billion worth of material is indirectly exported, through the means of other goods that are made from rubbers and plastics, including motor vehicles and machinery.

The company prospered through the 21st century, producing automated teller machines, barcode scanners, and other related products, employing thousands.

[119] A successor firm also built the crawler-transporters that were used by NASA in the 1960s and 1970s to transport Saturn V rockets to the launch pad at Cape Canaveral to send men into space and to the Moon.

In 1907, a janitor named James Spangler working for the Hoover family invented the first electronically portable vacuum cleaner.

Brush Wellman is headquartered Mayfield Heights and is a supplier of alloy, precious metals, electronic, and engineered material systems and products, with a major facility in Elmore.

[126] Aleris International, headquartered in Beachwood, employs 8,500 residents and is one of the world's largest recyclers of aluminum and zinc, manufacturing alloy sheet metal.

[157] Nanotek's current research focuses on using the properties of graphene in energy storage applications such as Li-ion batteries and supercapacitors.

[159] Angstron's graphene platelets are being used in multiple research areas, including energy storage, thermal management, nanocomposites, transparent conducting films, sensor, and lithium-ion batteries.

[165] Major employers include BAX Global, now part of Germany-based DB Schenker; Total Quality Logistics, UPS, FedEx, Roadway Express, CSX Corp, Pacer International, and ABX Air.

[170][171] Norfolk Southern operates a large intermodal facility in Columbus as part of their "Heartland Corridor," which the company recently[when?]

[79] Nestle maintains a major presence in Solon employing over 2,000 people in a variety of corporate, technical, and production capacities supporting the local manufacture of Hot Pockets, Lean Pockets, Stouffer's, Lean Cuisine, Buitoni, Nestlé Toll House, Libby's pumpkin and Carnation milk.

[178] Major eateries headquartered in Ohio include Bob Evans Restaurants and White Castle (Columbus) and Wendy's (Dublin).

[182] Although since overshadowed by Silicon Valley, Ohio played a major role in the development of the American information technology sector during the 1960s.

Block Communications, located in Toledo, owns major newspapers such as the Pittsburgh Post-Gazette, as well as numerous television stations and networks from Idaho to Illinois.

Ohio is home to some major legal firms, including Jones Day and Squire Patton Boggs, headquartered in Cleveland.

Since the Ohio Film Tax Credit was signed in July 2009, twelve projects have received approval with a combined budget of $76.4 million through spring 2011.

[208] Academy Award-winning films with production occurring in Ohio have included Terms of Endearment, The Silence of the Lambs, The Deer Hunter, Rain Man, and Traffic.

Anesthesiologists, with average mean wage of $285,000, were the highest paid, followed by surgeons at $267,680, obstetricians and gynecologists at $255,560, orthodontists at $228,420, general internists at $219,910, and all other physicians at $212,160.

[223] This population was made up of 3,214 people who belonged to families with children, 703 unaccompanied youth, 633 veterans, and 1,023 chronically homeless individuals.

The top five states ranked with the lowest effective tax rate on new investment are: (1) Maine (3.0%); (2) Oregon (3.8%); (3) Ohio (4.4%); (4) Wisconsin (4.5%); and (5) Illinois (4.6%).

Ohio unemployment rate, 1976–2022
US unemployment rate
Kroger , a supermarket company based in Cincinnati , is the largest employer of those companies headquartered in the state.
Ohio's state quarter lays claim to the "Birthplace of Aviation Pioneers," in which Ohio's aerospace and defense industry is still economically strong.
Procter & Gamble headquarters in Cincinnati
GE Aviation , headquartered in Evendale , is a major manufacturer of aircraft engines. In 2010, EPISCENTER, a new R&D center for the corporation to be located in Dayton, was announced by the Third Frontier program. [ 44 ] [ 45 ] [ 46 ] Aircraft engine manufacturing accounts for nearly 75% of Ohio's aerospace and defense industry workforce.
Weapon systems are integrated onto the M1131 fire support vehicle , or Stryker FSV, at the Joint Systems Manufacturing Center in Lima .
General Electric's Global Operations Center is headquartered in Downtown Cincinnati .
Wade Lagoon in University Circle , home to the Case Medical Center and neighboring Cleveland Clinic , which is set to begin human clinical trials of their breast cancer vaccine in 2011. [ 56 ] Netherlands -based Philips Healthcare is currently constructing a medical imaging research and development center in the neighborhood, referred to as the Cleveland Health-Tech Corridor. [ 56 ]
Miami Valley Hospital is ranked one of the nation's top hospitals with ratings from U.S. News & World Report , Forbes , and Healthgrades .
Tomatoes are an example of why Ohio's agriculture industry has deep relations with Ohio's food processing industry. Ohio is the 3rd largest producer of tomatoes out of all 50 states in the United States, [ 79 ] and, in turn, the world's largest ketchup processing plant is located in Fremont . [ 79 ]
200 Public Square (formally called the British Petroleum Tower) located in Cleveland
Ohio insurance employees work in a broad array of sub-industries. Around 44.8% of insurance employees work in fire, marine, and casualty insurance; this helps make Ohio the 4th largest casualty insurance state, in the measure of employees, trailing behind only California , New York , and Illinois . [ 95 ]
Cincinnati hosts several large financial institutions and insurance companies.
The Honda Accord was the single model that was most produced in Ohio. [ 97 ] Almost all Accords are assembled in Marysville . [ 98 ] The Accord's Ohio production exceeded 200,000, [ 97 ] one of only five models to do so in Ohio. [ 97 ]
The former US-Steel-Kobe works
The rubber and plastics industry in Ohio is largely dominated by Goodyear Tire & Rubber , in terms of revenue, although there are more non-rubber producing Fortune 500 rubber and plastics companies in Ohio than Ohio Fortune 500 rubber and plastics companies that do produce rubber.
The Longaberger Company former headquarters in Newark
The Liquid Crystal Institute , headquartered on the campus of Kent State University , made early contributions to the liquid crystal display .
Hyland Software, headquartered in Westlake , is the developer of the enterprise content management software OnBase.
Macy's moved its headquarters to Cincinnati after it merged with Federated Department Stores in 1994.
The Rock and Roll Hall of Fame is a well-visited tourist attraction in Cleveland . This is one of many tourist attractions that help make up Ohio's diverse tourism industry.
Put-in-bay , located on the Bass Islands in Lake Erie , attracts international tourism.
Ohio tourism expenditures by category. About 34.4% of the expenditures were on food , making food the highest of all Ohio tourism expenditures.
A man walking down alley in Newark, Ohio