According to Forbes and Site Selection, Ohio
is a great place for doing business. Each year, both well-respected
publications release their individual rankings, highlighting the
best and worst states for doing business. This year, the Buckeye
State came in at number 15 on Forbes’ list (up 11
spots from 2014) and number five on Site Selection’s
ranking. Ohio’s high marks on these notable rankings
illustrates the state’s business friendly climate; a climate
that makes it possible for companies to grow and thrive.
Now in its 10th year, Forbes’ “Best States For Business” ranking
looks at seven categories in order to rate the best and worst
states for doing business. These categories include:
- Business Cost
- Labor Supply
- Regulatory Environment
- Economic Climate
- Growth Prospects
- Quality of Life
- Population
Coming in at number 15 overall, Ohio ranked the highest in the
quality of life category, earning the number two spot. Forbes also
notes that the cost of doing business in Ohio is nearly
three percent below the national average, further
illustrating the state’s business friendly climate.
In addition to Forbes’ annual ranking, Ohio also
received high marks from Site Selection, which looks at
the top 25 states in terms of their business climates. As noted by
Site Selection, half of the overall
ranking is based on a survey of site selectors who are asked to
rank their top 10 states. The other half “…is based on
an index of seven criteria, including total new facilities in 2014
per capita; total 2015 new projects year to date; and state tax
burdens on new and existing firms” (Crain’s Cleveland). While Georgia took
the top spot in Site Selection’s rating, Ohio was the
top-rated Midwestern state.
Ultimately, third-party rankings like these further reinforce
what many already know: Ohio is a great place for doing business.
Home to global corporations such as the Goodyear Tire & Rubber
Co., J.M. Smucker Co., Progressive Insurance and more, Ohio and
Northeast Ohio make it possible for companies to grow and
thrive.
To learn more about the benefits of doing business in Northeast
Ohio, click here.