Over the last decade, the Buckeye State has annually ranked as one of the top ten locations in the U.S. to run a business.
From small start-ups and franchises to Fortune 500 companies, Ohio has an interesting mix of businesses calling the state home.
While far from being one of the largest states in size, Ohio is the seventh most populous, and their capital city of Columbus is the fourteenth largest city in the United States. While Ohio has seen its fair share of economic ups and downs over the years, it has been ranked one of the top ten locations in the U.S to run a business over the course of the last ten years. During that time the overall business climate has improved significantly, with tens of thousands of jobs having been created and the economic activity drastically climbing. Ohio is also home to the headquarters of a multitude of businesses and corporations, which helps draw in even more new companies. Over the last few years, Ohio has reformed their tax system to eliminate the need for corporate profit and franchise taxes, making them more attractive to entrepreneurs. Another benefit of opening a business in Ohio is the workforce, which is as diverse as the state. The experienced, skilled workers highly contribute to the success of the businesses they work for, due partly to the cost of talent in Ohio being much lower than what can be found in other states. The incidental costs are lower in Ohio as well, with rent, equipment loans, attorneys and accountants costing an average 40% lower in the state. Ohio is not just about being a great place for businesses to thrive either, as the state has a significantly lower cost of living than the U.S. average. Cleveland has been named one of the 25 cities where your paycheck will go the furthest, while Cincinnati is the 5th most affordable metropolitan area as well as the 9th best city in America to raise a family in. The state is also known for being home to seven major league sports teams, and follows NYC and LA as being a fashion capital of the U.S., giving the state it’s fair share of culture for people to enjoy.