Thursday, July 16, 2009

Ohio Wins Third Consecutive Governor's Cup

Congratulations to Ohio's business and economic development community. For the third straight year, Site Selection has awarded its prestigious Governor's Cup to Ohio, recognizing it as the nation's leading state for capital investment.

The Governor's Cup is awarded annually to the state with the most capital investment projects during the previous year. Ohio claimed the 2008 Governor's Cup with 503 projects, edging out second place Texas, who finished with 497.

In addition to winning recognition as the nation's top capital investment state, Ohio's metropolitan areas and micropolitan cities also received notoriety as ranking in the top 10 in their population categories. The Cincinnati, Columbus and Cleveland MSAs ranked as top Tier 1 metropolitan areas (population over 1 million); Dayton, Akron, Toledo and Youngstown-Warren ranked as top tier 2 metropolitan areas (population between 200,000 and 1 million); Springfield ranked as a top tier 3 metropolitan area (population between 50,000 and 200,000); Wooster, Ashtabula and Wapakoneta ranked as top micropolitan cities (population between 10,000 and 50,000).

Factors leading to Ohio's significant recognition include:

  • The state's diverse portfolio of industry sectors. In 2008, Ohio experienced strong investment activity in a variety of industries including advanced energy, aerospace, automotive, bioscience, insurance, logistics and polymers. Project classifications included manufacturing, headquarters and office, warehouse and distribution, and research and development.

  • Prime business climate for competing in the 21st century global economy. Winning the Governor's Cup three years in a row provides supporting evidence that Ohio's efforts to fundamentally redesign its business climate are working. Ohio's comprehensive tax reform, which dramatically reduces overall business and personal tax rates, is now almost fully phased-in, resulting in more companies realizing that Ohio is their best investment location.

  • Incentives for capital investment and growth. In addition to the state's traditional business incentives of tax credits, grants, and low-interest loans, the $1.6 billion Ohio Third Frontier helps companies with research, product innovation, and commercialization of new products. Ohio is also leading the nation to energy independence by leveraging its existing strengths through a $1.57 billion jobs stimulus plan that includes $150 million in competitive grants and loans to qualifying advanced energy investment projects.

  • Low cost access to high profit markets. Ohio is within 600 miles of over 63% of all U.S. and Canadian manufacturing facilities. The state's world-class transportation infrastructure gets products to market quickly and efficiently, reducing shipping costs and simplifying just-in-time delivery.

  • A skilled workforce and abundant workforce development opportunities. Ohio's highly skilled workforce minimizes time associated with training, which significantly increases productivity and reduces operating costs. The state's workforce pipeline is annually replenished with 180,000 high school graduates and over 78,000 graduates from the state's renowned system of 161 institutions of higher education.

  • Balance Without Compromise. Company executives choose to locate to Ohio or continue investing in Ohio because the state offers balance between work and life unlike anywhere else. Ohio executives can achieve both their professional and personal aspirations without having to sacrifice one for the other. The same goes for their families and the employees whom they lead. The Great State of Ohio offers business and industry many unique qualities that contribute to better balance and, ultimately, optimal business performance.


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