Ohio Wins Site Selection Magazine’s Governor’s Cup for Third Consecutive Year
March 15, 2009
ShareThisFor the third year in a row, Ohio has been awarded the Governor’s Cup by Site Selection Magazine for ranking number one in the nation in terms of capital investments in new and expanded facilities. The award is primarily based on the number of capital investments of at least $1 million towards the creation of a minimum of 50 jobs or the addition of 20,000 square feet or more to an existing facility.
For 2008, Ohio had 503 such qualifying projects, edging out Texas (497), Michigan (296), Pennsylvania (290) and North Carolina (245) as the top five states. What is encouraging is that even during tough economic times, the state experienced a 26 percent increase in the number of qualifying projects over its previous year’s total. In 2007, Ohio ranked number one with 399 qualifying projects as compared to the 503 qualifying projects it logged for 2008.
“As with Ohio’s previous Governor’s Cup wins, the 2008 award demonstrates that companies will invest in those industrial states that are taking the steps needed to be competitive, especially in today’s economic context,” says Mark Arend, editor in chief of Site Selection. “It is not enough to say your state is pro-business. Site selectors are looking for specific measures to be in place, and Ohio is delivering.”
The magazine cited Ohio’s lowering and elimination of certain business taxes in recent years as a contributor to making the business climate more hospitable to companies.
Governor Ted Strickland credits Lt. Governor Lee Fisher’s 10-year economic development plan for much of Ohio’s success. Fisher cited three key drivers of the state’s strong performance including:
· The Ohio Department of Development’s funding of more than 3,600 economic and community development projects that leveraged more than $14 billion in non-state investments, created more than 53,000 jobs and retained 195,000 jobs;
· The state’s performance in a series of strategic investments such as the bipartisan $1.57 billion stimulus plan for funding infrastructure, higher education internships and targeted industries of growth including advanced energy and bioscience; and
· The state’s first ever strategic plan unveiled in 2008.
Activities within Central Ohio, such as the retention and planned expansion of NetJets, helped Ohio achieve the Governor’s Cup award. Columbus was ranked 8th nationally among metropolitan areas with populations over one million.
This year marks the seventh time Ohio has been awarded the Governor’s Cup, receiving the award for 1993, 1994, 1995, 2003, 2006, 2007 and 2008.
For more details, see the story in Site Selection Magazine