Ohio benefiting from economic momentum
Ohio's economy is benefiting from a confluence of local, national and global trends: statewide improvements in the tax structure and business climate, an increasingly productive manufacturing sector, a growing energy sector driven in part by the oil and gas industry and expansions in healthcare. The state now has the 7th largest economy in the U.S. and the 21st globally. Ohio has built a $2 billion budget reserve, strong credit rating and pro-business tax structure. Between 2011 and 2016, private employment in Ohio increased by 450,000 jobs, far outperforming the regional average of 261,000 jobs. Site Selection magazine ranks the state's business climate 4th in the nation. Forbes magazine now ranks the state's economic climate 12th in the nation, up from 38th in 2010. Chief Executive magazine ranks Ohio as the 11th best state for doing business, up from 41st in 2011.