News and Analysis
Richard K. Smucker, executive chairman of the board of J.M Smucker Co. of Orrville — an OMA member company — will be inducted into the Grocery Manufacturers Association’s Hall of Achievement on Aug. 15 in Colorado Springs, Colo.
Richard will join his father (Paul) and brother (Tim) in the hall. His induction will bring to 47 the number of honorees since the award’s inception in 1984.
Congratulations to the Smucker family. 6/17/2019
The Ohio Department of Job and Family Services has updated the economic profiles for all of the state’s 88 counties. These reports provide a snapshot of the key economic indicators — such as local workforce numbers — that can be used in strategic planning, economic development, and policy development. Information includes employment by industry; wage and hiring trends; employment by firm size; local area talent; job postings; and industry turnover rates. 7/15/2019
OMA Connections Partner RSM recently published its take on ways that manufacturers can reduce or stem the rising costs of logistics. Suggested strategies include ideas to address tight trucking capacity and the growth of e-commerce. (Note: Your OMA membership qualifies you for shipping discounts through the OMA’s Freight and Shipping Program partnership with YRC and UPS.) 7/17/2019
Manufacturers with a presence in northeast Ohio are invited to a roundtable conference and discussion on the United States-Mexico-Canada Agreement. The forum will be held in Strongsville on Aug. 1, from 8:30-10 a.m. Assistant Secretary of the U.S. Foreign Commercial Service Ian Steff will be the keynote presenter. The event is co-hosted by U.S. Rep. Anthony Gonzalez and the U.S. Chamber of Commerce. More information here. 7/18/2019
Nearly two weeks ago, Ohio lawmakers left the Statehouse without passing a new two-year budget, thereby failing to meet the June 30 budget deadline. Due to House-Senate disagreements on several issues, both chambers instead passed continuing resolutions on June 29 and 30, allowing the state government to continue to function.
Over the past 12 days, budget negotiations have been conducted behind the scenes. The continuing resolution for the main operating budget expires Wednesday, July 17. Therefore, final action is likely to occur early next week. Learn more about tax issues included in the pending budget bill (House Bill 166).
The House and Senate are scheduled to be in session the middle of next week. After that, lawmakers are not slated to be in session again until mid-September.
A smaller budget bill (House Bill 80) to fund the Bureau of Workers’ Compensation (BWC) is also at an impasse due to disagreement over costly expansions to benefits. The bureau is operating under a continuing resolution that will expire July 30. Final action on the BWC budget could come next week or could languish until the end of the month. Learn more and take action to urge lawmakers to reject the proposed benefits expansion. 7/11/2019
Canada and Mexico buy more manufactured goods from Ohio than the rest of the world combined. Without tariff-free trade across North America, Ohio’s manufactured exports to these neighboring nations could face up to $3.1 billion in extra taxes (compared to zero tariffs today).
That’s why Ohio manufacturers support efforts by the Trump administration to push aggressively for timely ratification of the U.S.-Mexico-Canada Agreement (USMCA), which would replace NAFTA. The OMA has conveyed its support to Ohio’s congressional delegation. Click here to email your member of Congress and tell him/her why manufacturers support prompt consideration of the USMCA. 7/9/2019
Ohio has cracked the top 10 list of CNBC’s 2019 “Top States for Business” study. At No. 10 overall, the Buckeye State jumped five spots from last year’s rankings. This marks the first time Ohio has made the network’s top 10 since the study started 13 years ago.
CNBC’s comparison examines 64 metrics across 10 categories of competitiveness. A key reason for Ohio’s improvement is its standing in infrastructure (No. 4) and cost of doing business (No. 8). Ohio also fared better than average in education (No. 11), technology and innovation (No. 13), access to capital (No. 13), cost of living (No. 15), and workforce (No. 17).
The best three states for business according to CNBC are Virginia, Texas, and North Carolina. The bottom three are Rhode Island, Hawaii, and Mississippi. 7/10/2019
For the first time since 2009, Ohio lawmakers have failed to meet the June 30 deadline to finalize the state’s two-year budget (House Bill 166). A 17-day stopgap measure has been passed and signed to fund government operations and give lawmakers more time to reach an agreement.
A joint House-Senate committee has faced several sticking points caused by differences between the two versions of the main operating budget. The budget bill contains several items that would impact manufacturers, including workforce funding, tax provisions, and numerous smaller changes.
The legislature also failed to meet Sunday’s deadline for approving House Bill 80, the funding measure for the Ohio Bureau of Workers’ Compensation. (See the story in the “Safety & Workers’ Compensation” section.)
Upon signing the temporary funding measures for both state operations and the BWC, Gov. Mike DeWine urged both chambers to continue negotiations and reach a timely compromise. The OMA will keep members updated as negotiations look to stretch into the next week. 7/1/2019
OMA Connections Partner Gilmore Jasion Mahler will host its Manufacturing & Distribution Financial Executive Roundtable in northwest Ohio on Thursday, July 18, in Findlay and Maumee. The event will focus on the transformation of the automotive industry and its effects on the broader economy. Guest presenter Lawrence Keyler, RSM‘s global automotive expert, will provide the big picture for all manufacturers, not just automotive. The sessions are open to manufacturing financial executives and there is no cost to attend. RSVP here and specify the session you plan to attend. For more details, click here. 7/1/2019
Manufacturing companies with sales from $5 million to $50 million that want to expand into foreign markets can get a head start through the GlobalTarget Program. The nine-month program was created by the Monte Ahuja College of Business Global Business Center at Cleveland State University, along with the SBDC Export Assistance Network, the U.S. Commercial Service, and other regional and international organizations. According to the export experts at the Ohio Development Services Agency, companies will gain knowledge and tools on operating in global markets, as well as best practices to execute their global strategies. 7/1/2019