Ohio is the seventh most populous state and the seventh largest economy in the nation. It is also one of the most productive. The state’s factories lead the nation in the production of plastics and rubber, fabricated metals, and electrical equipment and appliances. Ohio also is a leading producer of steel, autos and trucks. Businesses are drawn to Ohio for its infrastructure, supply chains and business-friendly local government. The state has no corporate income tax and no tax on machinery and equipment investments.
The state is also a standout performer in medical science and healthcare, with several nationally ranked hospitals, including the Cleveland Clinic, rated No. 1 for cardiac care. Research universities, such as Case Western Reserve University and Bowling Green State University, support these medical institutions with world-renowned STEM programs. Working closely with hospitals and universities, a growing biomedical sector encourages innovation and commercialization of medical breakthroughs.
Ohio is a leader in steel producing and ranks No. 1 among states for fabricated metal manufacturing. Companies are drawn to the state because of its infrastructure, including reliable energy, international ports, rail and highway, and its robust supply chain, extending from raw materials to finished goods, like auto parts and appliances. Ohio sits atop the Marcellus shale formation, as do its neighbors West Virginia and Pennsylvania. The result is heavy demand for seamless pipe and tube. Ohio also produces rolled and drawn goods, such as wires, springs and sheet steel for appliances; and molded products used in machinery, transportation equipment and construction.
Rubber and polymers make up Ohio’s largest industry cluster, with about 140,000 employees in more than 2,800 companies. The state is No. 1 in the nation for tire retreading, rubber and plastic hoses and belting, and many other rubber and polymer categories. Ohio’s rubber and polymer industry encompasses designers and materials suppliers, mold builders, resin suppliers and compounders, and plastic and polymer processors. Focus areas range from advanced composites to advanced energy, bioproducts, flexible devices and nanotechnology. Ohio’s large manufacturing sector represents a ready market for the rubber and polymers industry. Many research universities support the industry, including The University of Akron’s College of Polymer Science and Polymer Engineering.
The cluster of automotive manufacturers and suppliers in Ohio represents the entire supply chain from controls and electronics, to engines and powertrain, interiors, chassis and body, glass and final assembly. In Ohio, there are 24 automotive manufacturers, including nine OEMS, 95 body and trailer manufacturers, and 479 automotive parts manufacturers. Ohio is a preferred destination for automotive manufacturers, not only because of the supply chain but also because 108,000 Ohioans work in the industry. These individuals represent generations of valued experience and know-how. Ohio is also located in the heart of North American auto manufacturing. Seventy-two percent of automotive companies are within a day’s drive of Ohio.
With its nationally ranked hospitals and thriving biomedical sector, Ohio has become a leader in healthcare, medical science and innovation. The Cleveland Clinic has been the No. 1 heart hospital for 21 years running, drawing people from all over the world for treatment and research, while the Cincinnati Children’s Hospital Medical Center is ranked No. 3, and Nationwide Children’s Hospital is ranked No. 7. These hospitals produce innovations, such as gene therapy and medical devices, that are licensed, commercialized and manufactured in Ohio. The State’s Third Frontier incubator program, as well as BioEnterprise, a nonprofit organization, are among the institutions that support this cycle. Since 2002, biomed businesses have secured $3 billion in funding.