Ohio Ranks Number One For Fourth Consecutive Year

It's not surprising to executives who live and work in Ohio that Site Selection magazine has awarded Ohio with the annual Governor's Cup Award for the fourth year in a row.

The Governor's Cup Award is based on the number of private capital investments for new or expanded facilities that involved an investment of at least $1 million, created a minimum of 50 new jobs or added at least 20,000 square feet of new floor area. Ohio came in first place with 381 projects. Texas ranks second in the nation with 374 projects, followed by Michigan (371), Pennsylvania (333) and Tennessee (234).

There are many reasons why Ohio continues to be the ideal place to establish or grow a business but three key reasons include the purposeful redesign of Ohio's business climate, the state's world-class assets in advanced design, advanced materials and advanced manufacturing; and focused academic support that enables business success.

Read more about the award and why Ohio continues to beat out all the other states in the nation in the race for new business.

Bioscience Executive on Building a Successful Bio Business

Don Brown, CEO of Arteriocyte in Cleveland, Ohio has worked in the health care industry for more than 26 years. He understands the challenges and rewards that come with bringing a product to market and recognizes the extensive support a company in the bioscience industry needs to be successful.

Don credits Ohio Third Frontier with enabling Arteriocyte to grow from a start up to a commercial stage research and development organization. He spoke with me about the importance of having this type of state program; one that focuses on the three critical aspects of building a successful life science company: investing in research, growing talent and providing investment capital.

Click here to read my complete interview with Don.

BusinessWeek survey shows satisfaction at home and work are closely tied

Ohio continues to offer the work-life balance critical to the overall satisfaction professionals have with their lives.

BusinessWeek recently conducted a survey of more than 3,000 educated professionals (men and women) to determine what drives contentment in a “frenetic and distraction-packed life.”

The survey administrators expressed surprise that “there is an incredibly high correlation between people’s happiness and meaning at work and home.” In other words, the ability to be successful in both areas of one’s life is the key to overall happiness.

These findings shouldn’t surprise anyone who lives in Ohio, where executives and their employees have the opportunity and tools to achieve success in both their professional and their personal lives.

The authors of the article spotted several patterns in how survey respondents spend their time and how they feel. A couple of important takeaways included spending time exercising and with people you love and feeling challenged, which is linked to overall satisfaction.

Ohio is known as the State of Perfect Balance, where one has the opportunity to achieve professional success without having to sacrifice personal aspirations. Individuals in Ohio have more time to spend with their loved ones or on leisure activities due to things like shorter commutes and a plethora of options for fun. An engaged and supportive business community allows entrepreneurs and executives alike to take their business in whatever direction they desire.

It’s no wonder companies want to come here and employees want to stay here.
Read more about the BusinessWeek study.

Ohio Raises Funds by Issuing Bonds, Keeping Favorable Tax Climate Intact

Sticking with its commitment to eliminate a burdensome tax system, Ohio recently announced that it is coming to market with as much as $280 million in tax-exempt bonds due in 2013 as part of the state’s first plan to ease near-term costs by delaying principal payments on existing debt. Ohio has an AA+ rating from S&P, the second highest, and Moody’s Aa2 and Fitch’s AA, each the third highest.

Underscoring Ohio’s favorable tax climate, other states are raising taxes and fees, cutting services and issuing debt to help balance budgets after the steepest decline in tax receipts on record, according to the Center on Budget and Policy Priorities. States have dealt with or still face a total budget gap of $193 billion this fiscal year, the center said. This week’s largest municipal borrower, Illinois, plans to sell $3.5 billion in taxable notes to cover pension contributions due this year.

Click here to read the full story.

Ohio Cities Rank Among Best in Country for Employment Opportunities

According to a new study by MSN.com, two Ohio cities – Mansfield and Springfield – are among the best cities in the country for employment opportunities. Springfield city leaders say with the unemployment rate dropping, they see new jobs being created, developing new employment opportunities for Ohioans.

Right now in Springfield, 300 construction workers are building a $300 million Springfield Regional Medical Facility. Springfield Economic Developer Tom Franzen says it will employ 3,000 people when it's completed in two years. Click here to read the complete story.