America’s CEOs have spoken and Ohio has the most improved business climate, according to a recent survey by Chief Executive Magazine. In its annual ranking of the top 50 states to do business, Ohio moved up ten spots and is now the 12th best state for business in the U.S. Ohio has brought in commonsense regulatory policy, which has greatly helped the state improve its business climate. “The fact that the nation’s CEOs now see Ohio as a top ten state in which to do business is solid recognition of the jobs-friendly business climate we have worked so hard to create here,” said Governor John R. Kasich.
The business-friendly reforms and common-sense fiscal management are paying off for Ohioans. This has allowed the state to develop a strong, balanced budget. And when combined with a reduction of a net $5 billion in taxes has helped bring more jobs to the state. Also, Ohio ranks 12th in the nation for gross domestic product (GDP) growth, according to the latest 2016 quarterly GDP report released by the Bureau of Economic Analysis.
On the jobs front, Ohio has created more than 428,000 new private-sector jobs since 2011, according to JobsOhio. The business friendly environment has allowed many companies to expand their presence in the state. In addition, many companies are making plans to invest in Ohio, with the latest being Fiat Automobiles that has announced plans to invest $1 billion in Ohio and Michigan plants. The investment is expected to create 2,000 jobs in both states, and this is good news for Ohio.
“Not long ago, the state had dismal job creation and retention numbers. The business climate was so challenging that industries and residents started to pack up and leave,” noted Victor Bierman, an Ohio Lawyer and Business Expert. This resulted in an $8 billion budget shortfall, making economic conditions even worse. But, with good governance and great vision, the state has made an incredible resurgence, and is now one of the best places in the country to start or expand a business.
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