In 2019, Ohio’s gross domestic product (GDP), the broadest measure of economic production, totaled $698.5 billion, a 3.3% increase from 2018 total GDP of $675.9 billion. Ohio’s 2019 GDP was the 7th largest in the U.S., ranked between Pennsylvania (6th) and New Jersey (8th).
Is the economy good in Ohio?
GDP growth has been lackluster in Ohio in recent years. Due in part to a 2.4% contraction in 2020, Ohio’s economy expanded at an average annual rate of 0.7% over the last half decade — half the comparable national growth rate of 1.4%.
How is the economy in Ohio?
Ohio’s gross state product (GSP) in 2019 reached $615.6bn, with growth of 1.5% over the 5-years to 2019. Businesses in Ohio employed a total of 24.2 million in 2018, with average annual employment growth of 2.6%.
Is Ohio rich or poor?
Ohio is the twenty-second-wealthiest state in the United States of America, with a per capita income of $21,003 (2000).
Is Ohio the 21st largest economy in the world?
The economy of Ohio nominally would be the 21st largest global economy behind Saudi Arabia and ahead of Argentina according to the 2017 International Monetary Fund GDP estimates.
Economy of Ohio.
| Statistics | |
|---|---|
| Labor force | 5,883,960 |
| Unemployment | 4.3% |
| Public finances | |
| Revenues | $27.3 billion |
Is Ohio a depressing state?
(New York) – When the numbers were all tallied Ohio ranked 7th on 24/7 Wall St. annual study on the “Most Miserable States in America.”
Is Ohio good state to live?
Consistently ranked one of the best states for business, Ohio offers residents many benefits too, including a low cost of living, excellent schools and good recreational opportunities.
What is the largest industry in Ohio?
Manufacturing is the largest of Ohio’s major sectors, based on GDP. Major sectors and their contributions to Ohio’s economy are presented in the chart above. Roughly 54 percent of the state’s manufacturing output consists of durable goods.
Is Ohio Good for business?
Ohio offers a welcoming business climate that attracts global investment and fosters growth in businesses large and small. Ohio’s simplified tax structure, central location, and affordable cost of doing business are catalysts for economic diversification and prosperity.
What is Ohio’s biggest export?
Ohio exports of manufactured products supported an estimated 228 thousand jobs in 2016. The state’s largest manufacturing export category is transportation equipment, which accounted for $16.7 billion of Ohio’s total goods exports in 2018.
What is the poorest U.S. state?
Poverty rates were highest in the states of Mississippi (19.58%), Louisiana (18.65%), New Mexico (18.55%), West Virginia (17.10%), Kentucky (16.61%), and Arkansas (16.08%), and they were lowest in the states of New Hampshire (7.42%), Maryland (9.02%), Utah (9.13%), Hawaii (9.26%), and Minnesota (9.33%).
What is the poorest place in Ohio?
Youngstown was ranked the poorest city in Ohio in a 24/7 Wall St. analysis examining U.S. municipalities where households earn less than the nation’s median annual household income of $65,712.
What is the wealthiest state?
Richest U.S. States by GDP
- 1. California. California, the nation’s most populous state, has the largest state GDP of $3,120,386,000. California’s median household income is $80,440, the sixth-highest in the U.S.
- Texas.
- New York.
- Florida.
- Illinois.
What is the main industry of Ohio?
Industries. Ohio’s two largest industries by percentage of GDP are manufacturing and financial activities, respectively. By employment, Ohio’s largest sector is trade/transportation/utilities, followed by the health care and education sector, the government sector, and the manufacturing sector.
What industries are growing in Ohio?
Swyft Filings also provided in-depth research based on proprietary data to determine which industries encourage positive activity for the Ohio economy, and other reasons why.
- 1) Construction.
- 2) Retail.
- 3) Real Estate.
- 4) Transportation.
- 5) Entertainment.
- 6 & 7) Consulting and Health Care (tied)
- 8) Professional Services.
How does Ohio make their money?
Ohio’s main cash crops are soybeans and corn. Also important are wheat, oats, hay, fruit, feed, vegetables, livestock, poultry, and dairy products. Tobacco is grown in the Tuscarawas, Muskingum, and Ohio river valleys in the southeastern part of the state.
What is the most miserable city in Ohio?
East Cleveland and Cleveland are the most miserable places in Ohio, according to one web site.
What are the pros and cons of living in Ohio?
Pros & Cons of Living in Ohio
| The pros | The cons |
|---|---|
| Ohio has a growing job market | High-crime rates in bigger cities |
| You’ll enjoy tons of outdoor activities such as hiking, picnicking and rafting | Some areas are poverty ridden |
| Effective highway system | Segregation is still a problem in some areas |
Is Ohio a boring state?
Parties on the beach. Bars open all night. Something to do every second of the day. You’ll find none of those things in the states we are talking about today — the most boring states in America.
Detailed rankings of the most boring states.
| State | Rank |
|---|---|
| Alabama | 36 |
| South Carolina | 37 |
| Mississippi | 38 |
| Ohio | 39 |
What is the fastest growing city in Ohio?
City of Sunbury
Fastest-Growing Central Ohio Cities
| Rank | City | Population growth, 2010-2020 |
|---|---|---|
| 1 | City of Sunbury | 50.7% |
| 2 | City of New Albany | 40.2% |
| 3 | City of Hilliard | 30.5% |
| View This List |
Which city in Ohio is the best to live in?
Best Places to Live in Ohio in 2022-2023
- Cincinnati, OH.
- Dayton, OH.
- Columbus, OH.
- Youngstown, OH.
- Cleveland, OH.
- Toledo, OH.
