Ohio Ranks Among Best States for Business Incentives and State Economic Development Performance, According to Pollina Corporate Real Estate

COLUMBUS, Ohio, Nov. 16, 2010 /PRNewswire/ -- Ohio is rapidly becoming one of the best states for business, ranking 25th for overall business climate, according to "Pollina Top 10 Pro-Business States for 2010," a report available for purchase from Chicago-based brokerage and consulting firm Pollina Corporate Real Estate Inc.

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In its seventh year, the study ranks Ohio in the top 25 for the very first time, an 11-position improvement from last year and a 16-position improvement since 2008, when Ohio ranked 41st.  The only other bordering state in the top 25 is Indiana, which ranked 23rd.  

"The Pollina report provides independent confirmation of the strides Ohio has made in proactively redesigning its business climate to create the ideal location for 21st-century businesses," said Lisa Patt-McDaniel, director of the Ohio Department of Development. "By reducing taxes and regulations, making strategic investments in core industries and increasing the skills and education of our workforce, Ohio has increased its competitive strengths as a business location."

The report ranks Ohio 8th in the nation for 15 factors related to the state economic development efforts and the quality of Ohio's business incentives. "In choosing a business location, companies and site selection consultants prefer to deal with states that can offer their clients a meaningful competitive edge in the global marketplace and are supportive of profit growth," said Ed Burghard, executive director of the Ohio Business Development Coalition. "Ohio's success in these areas is reflected not only in the Pollina Report rankings but by winning four consecutive Governor's Cups from Site Selection magazine for closing the most new capital investment projects."

The report highlights Ohio's investment in targeted industries as contributing to its performance. Through initiatives such as the Ohio Bipartisan Job Stimulus Package and the Ohio Third Frontier, the state is investing more than:

• $100 million in Ohio's Biomedical Industry.
• $50 million in Ohio's Bioproducts Industry.
• $150 million to expand manufacturing, boost research and development, retool production lines and retrain workers in Ohio's Advanced Energy industry.
• $100 million in Ohio's Logistics and Distribution Infrastructure Program to expand connections to logistics and intermodal centers, improve the flow of freight and increase access to new markets.

Pollina uses a two-phase approach to evaluate states on 31 factors that contribute to a healthy business climate. Stage I, Labor, Taxes and Other Factors, accounts for 64 percent of the total score and is based on 16 factors including taxes, unemployment insurance, human resources and infrastructure spending. Stage II, Incentives and State Economic Development Agency Factors, examines 15 additional factors such as job training, business incentives, tax credits and abatements, cash grants and the professionalism of the state economic development department in marketing and business development.

"Ohio's friendly business climate, combined with low cost of living, short commutes and abundant recreational resources, creates a unique opportunity to achieve work-life balance," Burghard said. "That's why Ohio has become known as The State of Perfect Balance, where you can achieve both professional and personal success without sacrificing one for the other."

About the Ohio Business Development Coalition

The Ohio Business Development Coalition is a nonprofit organization that provides marketing strategy and implementation to support Ohio's economic development efforts. For more information, visit www.ohiomeansbusiness.com.

SOURCE Ohio Business Development Coalition