A Business-Friendly Approach Promotes Innovation and Growth in Ohio

Ohio is the birthplace of some of the world’s greatest inventions – the airplane, the lightbulb, the traffic light and even Superman. Today, Ohio combines that innovative spirit with a friendly business environment that attracts global investment and fosters growth. Ohio’s simplified tax structure, central location and affordable cost of doing business are catalysts for ongoing economic diversification and prosperity.

In Ohio, the speed of business is how we do business. Make Ohio home.

Fast Facts

  • $2 billion budget surplus
  • 7th largest economy in the U.S., 21st worldwide
  • The state’s Common Sense Initiative has created a jobs-friendly regulatory environment
  • Accelerated environmental permitting process takes 180 days or less

Taxes

  • No corporate income or profits tax
  • No tax on products sold outside of Ohio
  • No tax on machinery and equipment investments
  • No tax on R&D investments
  • Only one state business tax – the Commercial Activity Tax (0.26%)
  • From 2012-2017, Ohio cut taxes by $4.9 billion – the largest tax cut by total in the U.S.

More:

Credit Rating

Security and Source of FundsFitch RatingsMoody'sStandard & Poor's
General Obligation, General Revenue Funds
Higher Education, Common Schools, Coal Development, Conservation Projects, Infrastructure Improvement, Job Ready Site Development, Natural Resources, Third Frontier Research and Development, and Veterans Compensation
AA+Aa1AA+
General Obligation, Highway User Receipts
Highway Capital Improvements
AA+Aa1AAA
Special Obligation, General Revenue Funds
Cultural and Sports Capital Facilities, Mental Health Capital Facilities, Parks and Recreation Capital Facilities, State Facilities (Administrative Building Projects, Adult Correctional Building Projects and Juvenile Correctional Building Projects)
AAAa2AA
Special Obligation, Highway User Receipts
State Facilities (Transportation Building Projects and Highway Safety Building Projects)
AAAa2AA
Federal Transportation Grants, State Highway Infrastructure/ Grant Anticipation Revenue Vehicle (GARVEE)
Major New State Infrastructure Project (GARVEE)
N/AAa2AA
State Credit Enhancement, General Revenue Funds
Two-year Community and Technical Colleges
N/AAa2N/A

Source: Ohio Office of Budget and Management

Diversified Economy

Ohio’s economy consists of thriving industries that reflect the Midwest’s industrial leadership and continued innovation. JobsOhio executes strategies around Ohio’s biggest industries and industries showing growth: advanced manufacturing, aerospace and aviation, automotive, energy and chemicals, financial services, food and agribusiness, healthcare, information technology, and logistics and distribution.

Diversified Economy Graph

Foreign Direct Investment

For international companies seeking access to the U.S. market, Ohio is an advantageous location. Ohio’s welcoming culture, low cost of doing business, reliable and affordable energy, and skilled workforce make the state an appealing choice for international investors.

FDI Graph

Source: International Corporate Investment in Ohio Operations

Fuyao

Fuyao

Fuyao Glass America is the largest Chinese investment in Ohio and one of the largest in the U.S. Fuyao’s growth in Ohio is an outstanding example of how international companies can enter the market quickly and find long-term success with the help of Ohio’s local, regional and state economic development leaders.

Hematite

Hematite

Hematite Inc., a Tier 1 automotive supplier and manufacturer based in Ontario, Canada, is investing $18 million to build a 106,000-square-foot manufacturing facility in Englewood. The facility, which will employ 100 full-time workers within three years, is Hematite’s first in the United States and will serve as the company’s U.S. headquarters as it expands its presence in the United States.

NOX

NOX

With demand growing for its products, particularly among American customers, NOX Corp. (NOX) needed to expand. This could have led the company anywhere in the United States but, for good reason, company officials chose Ohio.


Contact us to learn more about Ohio


Learn More about Why Businesses are Making Ohio Home