Preferred Location for Business Development

Businesses are choosing Ohio as a preferred location for business development, relocation and expansion thanks in large part to the state’s tax environment.

Ohio's supportive business climate makes the state attractive to many entrepreneurs in a variety of industries from automotive to polymers. The state's tax reform rewards entrepreneurial and start-up activity by not taxing a company's first $1 million in annual gross receipts. This helps new businesses become established and show an earlier profit. In addition, the state has many innovative programs and services helping Ohio entrepreneurs and small business owners, through effective communication, collaboration, creativity and technology support, encourage sustainable growth.

Ohio's taxation system means businesses can:

• Reduce operating costs – No tax on inventory or corporate income
• Enhance productivity – No tax on investments in machinery and equipment
• Enjoy a level playing field – All companies taxed the same low rate
• Boost return on investment – No tax on product sold to customers outside Ohio
• Reward entrepreneurship – First $1 million in gross receipts are tax-free; companies with sales between $150,000 and $1 million pay only a $150 flat fee

Business owners and entrepreneurs are realizing how, in Ohio, they’re able to find the perfect balance between successfully growing a business and still enjoying life. Business owners profit from the ottom-line benefits of better work-life balance for their employees. Ohio continues to provide the necessary tools to support business growth and to allow individuals to pursue both their professional and personal aspirations -- Ohio truly is the State of Perfect Balance.

Click here for more information on Ohio's supportive business climate.

Ohio Among the Best States for New College Graduates

Ohio is one of the best states for recent college graduates, according to a Bloomberg Businessweek/Aftercollege.com survey that ranked four of the state's largest cities – Columbus, Cincinnati, Cleveland and Dayton – among the top 30 nationally for their optimum mix of job openings, salaries and affordable living. Ohio had more cities in the top 30 than any state except Texas.

Located within a day's drive of 60 percent of the U.S. and Canadian populations, Ohio ranks fifth in the nation in the number of headquarters for Fortune 500 companies and is home to 61 of the Fortune 1000. Built upon a legacy of strength in manufacturing and innovative thinking, Ohio continues to be at the forefront of technological advances in such diverse fields as aerospace and aviation, advanced energy, bioscience, polymers and fuel cells. The state also boasts key advantages in transportation and logistics and professional and financial services.

Starting salaries stretch further in Ohio. According to Federal Housing Finance Agency statistics, Ohio ranks among the 10 most affordable states for single-family housing. On average, it costs nearly 35 percent less overall to live in Ohio than in California and 23 percent less than Massachusetts.

With its central location, low cost of living and leadership in key industries, Ohio is an ideal place for young professionals – including the 180,000 high school seniors and 78,000 college students who graduate from Ohio schools each year – to start their careers. Innovative investments such as Ohio Third Frontier attract young professionals, and the Bloomberg Businessweek data reaffirms why young professionals are selecting Ohio. It's the best place to have a personally fulfilling life and a professionally rewarding career, delivering on Ohio's promise as the State of Perfect Balance.

Ranked ninth on the Businessweek list, Columbus -- Ohio's state capital and the 16th largest city in the U.S. -- is the second-fastest growing major metropolitan area in the Midwest. Home to 1.75 million residents and 15 Fortune 1000 companies, central Ohio is a growing center for established and emerging companies in finance, insurance, information technology and biosciences. Major area employers include Nationwide, American Electric Power, Huntington Bank, the federal Defense Supply Center, Cardinal Health and The Ohio State University.

Ranked 17th, Cleveland has diverse job opportunities in manufacturing, science, engineering and biotechnology. Major employers headquartered in Cleveland include Eaton, Parker Hannifin, Sherwin-Williams and KeyCorp.

Retail, customer service, wholesale and retail trade and health-care opportunities abound in 20th-ranked Dayton. Large employers include Premier Health Partners and Kettering Health Network.

Cincinnati, ranked 23rd, offers jobs in key industries such as manufacturing, wholesale and retail trade and insurance. Major employers include Fortune 500 companies such as AK Steel, Ashland Inc., Cinergy Corp., Federated Department Stores, Fifth Third Bancorp, The Kroger Co., Procter & Gamble Co. and Western & Southern Financial.

The ranking was based on the number of job postings on AfterCollege.com, city unemployment rates and the average annual pay for all occupations as reported by the U.S. Department of Labor. Wages were adjusted for cost of living, using data from the Council for Community & Economic Research in Arlington, Va. Salaries rose 2.5 percent, to an average of $44,525, for the 30 cities in the 2010 ranking.

Honda Milestones Highlight Ohio’s National Automotive Impact

Ohio's success as the nation's top automotive supplier is due in large part to the individual success of companies like Honda of America Manufacturing (Honda).

Recently, Honda celebrated two major Ohio milestones. The first being the ten-millionth car produced at the company's Marysville, Ohio plant. And the second is the celebration of the company's 25-year anniversary making auto engines in Anna, Ohio. Honda's major milestones not only highlight the company's impact on Ohio's automotive industry, but also its impact on economic development, employment and housing growth within the state.

Honda now employs more than 4,400 workers and is credited with business, retail and housing growth in the Marysville area. In the last five years alone, Marysville retailers have added more than 700,000 square feet of retail space in light of growing demand. The benefits extend beyond the local economy; Honda employs 13,500 Ohioans and contracted for $5.5 billion in auto parts in 2009 from 160 auto parts suppliers.

Ohio's network of auto suppliers represents all facets of motor vehicle production. In fact, motor vehicle manufactures produce 15 percent of the state's total economic output.

Ohio is home to some of the best and brightest talent in the automotive industry, and continues to provide the necessary tools to allow both businesses and individuals the opportunity to pursue both their professional and personal aspirations without having to sacrifice one for the other. Ohio truly is the state of Perfect Balance.

Build Your Business and Love Your Life in Ohio

It's one of corporate America's oldest principles. To be successful in business, you must sacrifice your personal life. No time for family. No time for hobbies or recreation. Relax for just a moment, and the competition will take your place. Unfortunately for executives chasing their dreams in the world's crowded, fast-paced mega-metropolises, it's truer today than ever.

But it's not true in Ohio -- a state where the opportunities for professional success and personal fulfillment are equally balanced. Here, you can think big, work big and play big without being swallowed up by bigness itself. Ohio's business climate provides the resources to encourage and assist you in making your business grow and prosper on a global basis. Yet, on the personal side, Ohio's micro-metropolitan structure and short commutes provide all the cultural, educational and recreational amenities of the city, along with the time - precious time - and the personal space to enjoy them with family and friends.

In Ohio, thousands of top executives have discovered professional success without personal sacrifice. Click here to read their stories and see how you can build you business and love your life in Ohio.

Forecast for Wind Turbines in Ohio

hiVelocity, an online magazine highlighting the people and businesses that are helping to transition Ohio’s economy for future generations, recently interviewed ADI Wind in Sheffield Village, Ohio about how they're improving the operation of wind turbines.

Support from a Lorain County Community College Innovation Grant and the Defense Metals Technology Center helped ADI Wind design and build a 125 kW prototype gearbox as well as a test bed. ADI Wind now is an offshoot of Advanced Design Inc. specializing in the new unit.

The new gearbox is six times or more lighter than conventional units. This is accomplished by the unique gearing and reaction configuration allowing speeds to reach high gear ratios with significantly fewer parts and a much smaller size.

Ohio’s long history of manufacturing excellence and the continued transformation of its industrial base make Ohio the ideal location for global leadership in the wind energy industry. With thousands of companies in its advanced energy supply chain, including more than 675 established and emerging companies in the Ohio wind supply chain, Ohio has become a leading United States component supplier for wind turbine Original Equipment Manufacturers.

With its commitment to leading the United States to energy independence, Ohio is the perfect home for wind energy business.The state’s significant natural, intellectual, manufacturing, and policy resources all support success in wind energy.

The Renewable Energy Policy Project ranks Ohio as the second largest “impact state” for job creation as the United States expands its wind energy resources.This means that more jobs could be created in Ohio than all other states except California as wind turbine production is enhanced nationwide.

Click here to read the full story from hiVelocity about how ADI Wind is improving the operation of wind turbines.