Ohio moves up to seventh on CNBC’s list of best states for business
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Ohio moves up to seventh on CNBC’s list of best states for business

Columbus, Ohio, July 11, 2024 (GLOBE NEWSWIRE) — Ohio further solidified its position as a leading business destination, rising from No. 12 in 2023 to No. 7 in CNBC’s annual America’s Top States for Business 2024 rankings. The improvement reflects Ohio’s continued economic momentum, solid business attraction efforts, and strategic investments in innovation, infrastructure and workforce development. The seventh-place ranking is Ohio’s best since CNBC began the annual rankings in 2007.

“From Ohio’s supply of ready-to-build industrial sites to our reliable energy and water resources, there are compelling advantages to doing business in the heart of it all,” said Ohio Gov. Mike DeWine. “Combined with Ohio’s tax and regulatory policies that reduce risk, cut red tape and accelerate access to domestic and international markets, we ensure that businesses have everything they need to succeed.”

The CNBC study evaluated all 50 states on 128 metrics across ten competitiveness categories. Ohio showed particular strength in infrastructure (#13), cost of doing business (#2), cost of living (#4) and saw a huge jump in business friendliness from #40 to #24.

Ohio’s performance on these key metrics reflects and reinforces the state’s positive migration trends, creating a virtuous cycle of growth. In recent years, the state has seen a net increase in its incoming population of 75,000, driven primarily by job-related movements, with 304,000 people moving to Ohio for employment-related reasons between 2019 and 2023. This influx of talent has further enriched Ohio’s diverse workforce, from top STEM professionals to skilled trades workers.

“Ohio is the best state for business because we are also the best place to live, work and raise a family,” added Governor DeWine. “Ohio’s rise in numerous national rankings shows why Ohio is at the heart of it all. It’s not just our business-friendly policies, but also our exceptional quality of life, affordable cost of living and the opportunities we offer for all skill levels.”

“This confirms what we already know: Ohio is a great place to do business. We’ve seen new businesses moving to Ohio and the growth and expansion of existing businesses and entrepreneurs,” said Lt. Gov. Jon Husted. “Over time, we’ve lowered taxes and regulations, improved our infrastructure and workforce, and maintained affordability. Ohio offers a high quality of life and solid Midwestern values.”

Ohio’s rise in CNBC’s Top States Report is supported by a string of impressive economic development victories across the state’s sectors. In advanced mobility, Joby Aviation’s 2,000-employee eVTOL facility in Dayton and Honda and LG Energy Solution’s $4.2 billion battery center demonstrate Ohio’s leadership in innovation. The technology landscape is changing on a grand scale, with Intel’s $20 billion chip plant, Amazon Web Service’s $7.8 billion in data center investments and Worldpay’s selection of Cincinnati as its global headquarters. These eye-catching projects, combined with initiatives to support small business and revive business districts in the city center in communities across the state, reflect Ohio’s comprehensive approach to economic growth—from disruptive startups to industrial giants.

“Ohio’s climb in CNBC’s rankings reflects our entire state’s strategic approach to economic development,” said JP Nauseef, president and CEO of JobsOhio. “We’re not just focused on traditional metrics; we’re building an ecosystem that fosters innovation, nurtures talent, expands airport facilities and service routes, and offers businesses a wide range of pre-built industrial properties, speculative buildings, and vibrant communities to choose from.

“Our success is a result of the collaborative efforts of the DeWine-Husted Administration, the Ohio Legislature and our statewide network of economic development partners who have made Ohio a model for businesses looking to expand,” said Nauseef.

“Ohio is positioned to further strengthen its leadership position in advanced manufacturing, technology and sustainable industries for decades to come. With continued investments in workforce development, facility readiness and innovation districts, Ohio is solidifying its position as America’s center of opportunity,” he concluded.

For more information on the business climate and opportunities in Ohio, visit www.jobsohio.com. For more information on employment opportunities and talent matching services available in Ohio, visit FindYourOhio.com.

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About JobsOhio
JobsOhio, a private, nonprofit economic development corporation in Ohio, enhances company growth and workforce development by attracting, retaining and expanding business in ten competitive industry sectors. With a team of experienced professionals, JobsOhio leverages a comprehensive network to support talent production in targeted industries and attract talent through Find Your Ohio. Working 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 give companies a competitive advantage. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.

Contact:
Matt Englehart
WorkOhio
E-mail adress:
614-300-1152

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