Economy of Ohio

By | March 4, 2023

Ohio is a state located in the Midwestern United States, bordered by Michigan, Indiana, Kentucky, Pennsylvania, and West Virginia. It has an estimated population of 11.7 million people and is the seventh most populous state in the country. The state is known for its diverse economy which includes manufacturing, finance and insurance services, health care and social assistance, educational services, transportation and warehousing services, professional and business services, retail trade, government services, construction and mining.

The Ohio economy is powered by several industries including manufacturing – Ohio has a long history of manufacturing products such as cars and steel that have been exported all over the world. The automotive industry alone employs more than 100 thousand people in Ohio. The finance and insurance sector are large contributors to the local economy with companies such as JPMorgan Chase & Co., KeyBank National Association (KeyBank), National City Corporation (PNC Bank), Fifth Third Bank (Fifth Third Bancorp) headquartered in Ohio. Additionally, many major banks such as Citibank have branches located within the state.

The health care industry is another major economic driver for Ohio with hospitals such as Cleveland Clinic Health System (Cleveland Clinic), University Hospitals Health System (University Hospitals) and Nationwide Children’s Hospital (Nationwide Children’s Hospital). These hospitals provide high-quality medical care to residents of Ohio while also providing employment to thousands of workers throughout the state.

Education is also an important part of the economy in Ohio with universities like The Ohio State University (OSU) leading the way in providing quality education to students from around the world while also generating considerable revenue for local businesses through research activities carried out at their campuses.

Transportation plays a key role in keeping goods moving throughout the state with ports like Port Columbus International Airport allowing goods to be transferred all over North America quickly and efficiently while railroads like Norfolk Southern Railway Company provide efficient freight service across multiple states including Ohio.

Retail trade continues to be an important part of life in Ohio with stores like Macy’s providing employment opportunities while also contributing significantly to local economies through sales taxes generated from purchases made at their stores across multiple locations within the state.

Finally government services are essential for maintaining law and order within communities across Ohio while providing employment opportunities for many individuals who work for agencies like The Department of Education or State Department of Transportation among others which help ensure that policies are enforced properly throughout all parts of society within this great state.

In conclusion it can be seen that despite facing some economic challenges due to global events such as COVID-19 pandemic or US-China trade war; there are still many sectors which continue to drive economic growth in Ohio such as manufacturing, finance & insurance services; health care & social assistance; educational services; transportation & warehousing; professional & business services; retail trade; government services; construction & mining among others which help maintain its strong economic base even during difficult.

Top 3 Counties in Ohio

According to, main counties in Ohio include:

1. Franklin County: Located in central Ohio, Franklin County is the most populous county in the state. It is home to Columbus, the state capital and largest city, as well as a number of other cities and townships, such as Bexley, Hilliard, Upper Arlington, and Westerville. The county is known for its vibrant economy, diverse population, and great schools. It has a strong job market with many large employers like Nationwide Insurance, JPMorgan Chase & Co., and Cardinal Health. Other attractions include the Franklin Park Conservatory and Botanical Gardens, the Columbus Museum of Art, the COSI science center, and Zoombezi Bay water park.

2. Hamilton County: Located in southwestern Ohio along the Ohio River near Cincinnati is Hamilton County. This county is home to Cincinnati as well as several other cities including Blue Ash, Sharonville, Forest Park, and Springdale. It has a diverse economy that includes manufacturing industries like Procter & Gamble Company and consumer products company Kroger Co., healthcare facilities such as The Christ Hospital Health Network and UC Health University of Cincinnati Medical Center; several universities including Xavier University and University of Cincinnati; professional sports teams like the Cincinnati Reds baseball team; performing arts centers such as Music Hall; museums such as the National Underground Railroad Freedom Center; amusement parks like Kings Island; outdoor recreation areas such as Great Parks of Hamilton County; plus many more attractions to explore.

3. Summit County: Located in northeastern Ohio is Summit County which includes Akron (the county seat), Cuyahoga Falls (the second largest city in the county), Barberton (nicknamed “The Magic City”), Stow (known for its many parks), Hudson (a charming village with a historic downtown district), Twinsburg (home to an annual Twins Days Festival), Munroe Falls (a quaint town with rolling hills) plus numerous other small townships throughout this county. This area has something for everyone from great shopping malls to museums to outdoor recreation areas like Cuyahoga Valley National Park or Brandywine Falls State Park. It is also home to several universities including University of Akron and Kent State University plus professional sports teams like Akron RubberDucks baseball team or Cleveland Cavaliers basketball team at Quicken Loans Arena in Cleveland.

Economy of Ohio