Friday, August 7, 2009

Ohio Improves Business Climate According to CNBC Report

Report shows Ohio's strengths in transportation infrastructure, technology and innovation, education and access to capital for business development

COLUMBUS, Ohio, Aug. 5 /PRNewswire/ -- Ohio has improved its national ranking as one America's top states for business, ranking 29th overall, in the yearly survey conducted by CNBC. The 2009 rank is an improvement over its 30th place ranking in 2008 (tie with Illinois), a result of Ohio's purposeful redesign of its business climate that is making the state an ideal location for businesses to compete in a 21st century global economy, according to the Ohio Business Development Coalition, the nonprofit organization that markets the state for capital investment.


"Businesses continue to discover the benefits of investing in Ohio, where companies find a preferred location for capital investment, a highly skilled workforce, and a perfect balance between business pursuits and personal aspirations," said Ohio Governor Ted Strickland. "The combination of a meaningful, targeted investment strategy, when coupled with our state's comprehensive tax reform, is leading companies to realize just how beneficial a capital investment in Ohio can be."

The CNBC report examined 40 measurements across 10 categories. Among Ohio's strengths, the state was ranked second in the nation for its transportation infrastructure, remained strong with a rank of 15th in education, and improved its rankings both in technology and innovation (from 17th to 10th) and access to capital to promote business development (from 20th to 14th). Ohio's rank in both transportation and technology and innovation place the state among the top ten in the nation in those categories. A breakdown of Ohio's ranking can be found at

According to the Ohio Business Development Coalition, Ohio's strengths in each category are the result of innovative programs aimed at improving Ohio's overall environment.

One of the most significant initiatives supporting Ohio's growth in technology and innovation is the Ohio Third Frontier, an unprecedented and bipartisan commitment to expand Ohio's technological strengths and promote commercialization that leads to economic prosperity throughout Ohio. Since its inception, the program has created or commercialized more-than 500 companies and has attracted $3.5 billion in private investment to Ohio, a 9:1 return on investment.

Ohio's high-ranking K-12 education system is supplemented by the University System of Ohio, comprised of the state's 14 public universities, 24 branch campuses, 23 community colleges, and more than 200 adult workforce education centers and training programs across the state, plus 73 private colleges and universities. Ohio has 180,000 graduating high school seniors annually and more than 78,000 college graduates annually.

"This ranking further proves Ohio's dedication to technology innovation coupled with a world-class transportation system is helping to build a supportive environment for new capital investment," said Ohio Lieutenant Governor Lee Fisher. "The game changer in economic development is education and clearly we are headed in the right direction, linking Ohio universities and attracting the brightest students from around the country to study at our institutions."

Ohio is recognized nationally and worldwide as a business location with unbeatable access to Midwestern, Central Canadian and Mid-Atlantic markets, and with its sophisticated transportation infrastructure represents a strong global platform to route goods and services to anywhere in the world. Ohio is within 600 miles of 60 percent of the U.S. population and 50 percent of the Canadian population.

"Ohio's recognition and continued improvement are evidence that our economic development strategies for creating a healthy business development climate in the state are working and further prove that Ohio should be on every CEO's list of location options," said Ed Burghard, executive director of the Ohio Business Development Coalition. "Executives are realizing, in Ohio, they're able to find the perfect balance between successfully growing a business and still enjoying life. Business owners profit from the bottom-line benefits of better work:life balance for their employees. Ohio's low-cost, low-stress communities and combination of micropolitan and metropolitan cities provides executives and employees the resources and time to make any ambition achievable. Ohio truly is the state of perfect balance."

About the Ohio Business Development Coalition

The Ohio Business Development Coalition is a nonprofit organization that markets the state for capital investment. The OBDC provides marketing strategy and implementation to support Ohio's economic development efforts. For more information on business development or business relocation, visit


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