Defense may win championships, but it is no way to build an economy. The USA, Ohio, and the Columbus Region are well served to take measured risks to advance the economy. It appears this is happening as Ohio’s unemployment declines, the oil and gas industry continues to expand, and companies begin to invest in plants, equipment, and current and future employees.
Two reports last week point firmly to Ohio’s strength. The Tax Foundation and KPMG ranked states in a variety of ways and industries last week. Ohio ranks 5th in this very interesting study, proof that the tax reform of the last four years has broadened the tax base and softened corporate taxes.
Site Selection Magazine released its state ranking last week as well. Ohio ranked #1 in this annual ranking of economic activity. While the overall ranking is great recognition, it is also interesting that Ohio led the 2011 Top States with the most “micropolitan” category with 18 small cities listed on that ranking. That is a good indication that Ohio is getting healthier and not just only in its major cities.
These rankings are not perfect, but they show that going on offense – you can increase your economic activity, and in turn, improve the health of your economy. This means relentless outreach to existing companies, marketing to growing companies, and creating a dynamic environment by which small businesses can innovate and grow and large companies can prosper. Let’s stay on offense.
One Columbus Update
First, let me remark that our hearts go out to those families in the City of Chardon for the terrible tragedy they are living through in Northeast Ohio. Second, may we all keep those communities destroyed by natural disaster all across the Midwest and South in our thoughts and prayers – may they return stronger and healthier from these terrible storms.
Internally the Columbus2020 team has five companies visiting the Region this week. Deb Scherer is preparing to travel to India for nearly two weeks along with The Ohio State University’s delegation. The team expects to have 20-25 visits on the trip. We hope that these missions continue to create value for our Region by developing qualified business opportunities for our 11-country Region.
-Kenny McDonald