Ohio recognized as leader in international trade

Ohio’s global export prominence speaks to the state’s manufacturing strengths, logistics capabilities, skilled workforce, and competitive business environment. An article in today’s Columbus Dispatch shared facts from the U.S. Department of Commerce International Trade Administration about Ohio’s role as a global exporter:

• Ohio is the only state in the country whose exports have increased every year since 1998, and it's seventh in the country for exports overall.
• Ohio's exports grew by nearly 7 percent in 2008 over the previous year, to $45.5 billion.
• The state's biggest manufactured exports are automotive and airplane parts, machinery, chemicals, electronics and computers.
• About 11,400 Ohio companies sell their products internationally, and nearly 300,000 jobs in this state depend upon exports. Only California and Texas have more jobs linked to manufacturing exports.

Ohio has not relied on geographic market access alone to drive its success as a trade leader and global exporter, but has invested in world-class systems creating synergy between transportation, data and domestic and international export.

Ohio’s roads, rails, waterways and international airports provide many reliable options for moving products to market. 10 Foreign Trade Zones facilitate import and export and many sub-zones offer duty-free, quota-free secured sites where goods can be stored, repackaged, assembled and manufactured.

The state has 14 international offices to promote the export of Ohio goods. They are in Canada and Mexico, the top two export markets for the state, plus Belgium, Chile, Argentina, Brazil, Israel, South Africa, Japan, India, Australia and three in China: Hong Kong, Shanghai and Beijing. The state is also located within 500 miles, or one day’s trucking distance, of 60 percent of both the U.S. and Canadian populations.

In addition, the Global Markets Division of the Ohio Department of Development helps Ohio companies explore global trade opportunities and expand into new international trade markets.

Another key factor is Ohio’s new tax reform, part of the state’s purposeful redesign of its business climate to be the ideal location choice for companies that want to create a successful global business.

The revamped tax code helps slash operating costs through:

• No Tax on inventory held in Ohio
• No Personal property tax on manufacturing equipment
• No Tax on sales of goods and services to customers outside of Ohio

All encourage Ohio based companies to invest in operational efficiencies that can add to bottom line profit margin improvement.

This is more proof why successful companies around the world are choosing Ohio as the best location for their U.S. operations.

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• Published under Distribution & Logistics, Ohio Business Climate Improvement