OHIO — Ohio was among the leading states for new business developments in 2021, according to the latest rankings released by Site Selection, which tracks new developments across the U.S. Site Selection provides industry information to thousands of firms.
As part of Site Selection’s Governor’s Cup rankings, Ohio ranked No. 2, behind Texas, for new business developments. Ohio also ranked No. 4 in the Governor’s Cup rankings for new developments per capita, behind Kansas, South Dakota and Kentucky.
Ohio Gov. Mike DeWine celebrated the announcement.
“Ohio’s consistently high rankings highlight the competitive advantages of our communities of all sizes and the talent, work ethic and ingenuity of the people of Ohio,” said DeWine. “This is further evidence that Ohio is a business-friendly state with the solutions companies need to compete and thrive in the global marketplace.”
According to Jobs Ohio, Dayton placed first overall in total projects for metros with a population between 200,000 and 1 million, with Toledo ranking No. 7. The state added that Cincinnati and Columbus placed in the top ten metros for projects per capita with populations of over 1 million, finishing No. 2 and No. 9, respectively.
What’s the effect for workers?
Ohio’s workforce participation rate remains lower than the national average while its unemployment rate is above the rest of the U.S. According to the Bureau of Labor Statistics, Ohio’s workforce participation in December 2021 was 61.3%, while the U.S. rate was 61.9%. The workforce participation rate is the percentage of people over age 16 who are either working or actively looking for work.
Ohio’s unemployment rate in December 2021 was 4.5% while the U.S. unemployment rate was 3.9%.
