Ohio has lengthy been a state that sees — and seizes — alternative and innovation. From the Wright Brothers exploring flight to the evolution of the auto and the invention of the site visitors gentle, Ohio has been a spot for brand new concepts that form our society. As we speak, Ohio is house to 200 company headquarters and 55 Fortune 1000 firms, and Intel’s current determination to put money into Ohio factors to a future because the Silicon Heartland. 

The governor and state Legislature have performed an impressive job marshaling Ohio’s assets to profit our state’s financial system. Whereas there may be a lot to be happy with based mostly on the place we at present stand right this moment, we can also take extra steps to put the inspiration for continued funding and creating financial and enterprise progress. The state of Ohio, just like the nation, is navigating advanced challenges that embrace a decline in inhabitants, persistent urbanization, an absence of childcare assets and a scarcity of expertise in its workforce. Current nationwide rankings — which positioned Ohio close to the underside of the pack by way of two classes, enterprise friendliness (forty seventh) and tax burden (thirty seventh) — underscore the significance of addressing these challenges. 

The state is at a crucial juncture, with an pressing want to maneuver ahead. Ohio should take steps now to stay some of the aggressive states for companies whereas laying the inspiration for future progress. The Ohio Chamber of Commerce is main via its legislative agenda and its function because the convener of enterprise. In collaboration with Accenture, in October the Ohio Chamber of Commerce Analysis Basis unveiled its Blueprint for Ohio’s Financial Future, a long-term strategic report that analyzes Ohio’s financial outlook and compares it to that of different states. 

On this report, the Ohio Chamber got down to discover Ohio’s present strengths, gaps and alternatives of the state’s enterprise local weather. Utilizing in-depth secondary analysis and in-person workshops, the group examined the elements which can be key to Ohio’s means to proceed to draw residents and companies, nurture a bigger, more practical workforce and make Ohio one of the best state within the nation to do enterprise — aggressive with anywhere on the planet. 

The blueprint highlights six key areas, or “levers,” the place Ohio’s rankings stand to achieve relative to different states: Workforce and schooling, sense of place, taxes and prices, innovation and collaboration, enterprise friendliness and infrastructure. Inside every of those levers, a deeper dive reveals the strategic indicators which can be related to these rankings and the way Ohio measures towards our competitors. Based mostly on the evaluation of the information, the Ohio Chamber will lead in shaping the state’s future and gives this report as a place to begin to deliver collectively leaders in enterprise, financial growth, workforce, schooling, housing, well being care and transportation in addition to different neighborhood representatives. 

The analysis offers examples of alternatives for enchancment within the close to time period and as a basis for sustained progress sooner or later. The uncertainty of worldwide occasions that have been beforehand exhausting to fathom, like people who we now have skilled within the final two years with COVID-19, additional underscores the significance of a “residing” technique that proves adaptable and resilient over time, permitting for steady innovation and enchancment in step with the evolving priorities and values of Ohioans. 

For instance, one of many key levers within the blueprint is schooling and workforce. Ohio’s workforce actuality is that the state’s inhabitants progress isn’t retaining as much as that of its friends. The COVID-19 pandemic has solely exacerbated this dynamic. From 2020 to 2021, Ohio’s inhabitants declined by practically 10,000 individuals. Whereas some states’ inhabitants progress slowed, solely one-third of states noticed inhabitants totals lower. Ohio’s sluggish progress might be attributed to an growing old inhabitants, declining immigration and “mind drain.” Against this, the South and the West have been house to each the fastest-growing states and cities. 

Ohio has a wealth of profession alternatives in a number of sectors, and it will likely be important for policymakers to match the abilities wanted to fill these jobs with the event pipeline of Ok-12 schooling, larger schooling and expertise attraction efforts. We’re grateful for the management of the DeWine administration on this space, via the creation of packages corresponding to TechCred and Ohio BUILDS, which emphasize workforce growth and upskilling for industries in the hunt for a broader pool of workforce expertise. Within the blueprint, the Chamber highlights various suggestions that can scale back obstacles to entry for many who are looking for to hitch or re-join the workforce, together with: 

• Eradicating childcare as a barrier for caregivers and dealing mother and father; 

• Pursuing methods to alleviate public help advantages cliffs; 

• The Ohio Chamber supporting and main a sturdy business-education community; 

• Selling employer-led work-based coaching; 

• Reskilling mid-career staff and creating alternatives for older staff; and 

• Contemplating recruitment campaigns, incentives and advocacy to recruit and retain prime expertise. 

One other lever of be aware contained within the blueprint is within the space of taxation. Ohio is considered one of solely 17 states that permit for municipalities to impose a neighborhood revenue tax. At 848 native authorities revenue tax jurisdictions, Ohio is second solely to Pennsylvania in complete variety of native taxing authorities. The blueprint offers various suggestions that can make Ohio extra aggressive on this space and permit the state to focus on complete tax reform. 

The report recommends: 

• Conducting a complete evaluation of state and native tax liabilities for companies, together with: Property, gross sales and excise, gross receipts, native internet revenue, company license, unemployment insurance coverage and particular person revenue taxes paid by house owners of pass-through entities; 

• Analyzing any proposed tax modifications to contemplate the affect on providers that profit companies and communities, corresponding to schooling, public security and infrastructure; and 

• Creating sturdy one-stop retailers, together with conducting additional evaluation on the Ohio Enterprise Gateway, to raised relieve the executive burden of taxes, licenses and charges on companies. 

These are only a few examples of the suggestions contained within the blueprint. The greater than 80-page report accommodates a complete evaluation on the place Ohio’s financial competitiveness stands and offers detailed suggestions on how we are able to enhance upon the studied metrics. 

The Ohio Chamber of Commerce operates with a easy and compelling imaginative and prescient: Making Ohio one of the best place wherein to do enterprise anyplace on the planet. Because the main Ohio enterprise advocate and useful resource, the Ohio Chamber helps free enterprise, financial competitiveness and progress for the advantage of all Ohioans. Sustaining and bettering Ohio’s enterprise atmosphere is a continuing effort. To stay aggressive nationally, we should look at our present atmosphere with a watch to greatest practices. The Ohio Chamber believes the blueprint will permit us to just do that. 

(Stivers is the president and CEO of the Ohio Chamber of Commerce.)