News and Analysis
The Federal Reserve Bank of Cleveland has also released its latest Metro Mix report for Cincinnati. At 3.6% as of April, Cincinnati’s unemployment rate was 0.4% lower compared to a year earlier. Manufacturing has been a top performing sector in the metro for several months, with 2.8% employment growth year-over-year. From December 2017 through December 2018, manufacturers in and around Cincinnati added more than 3,270 jobs, while outpacing the statewide and U.S. economic growth averages for the sector. 8/6/2019
Ohio’s manufacturing industry has earned a solid overall grade of “B” in Ball State University’s annual report card that critiques each state’s manufacturing sector. The study considered several factors across eight broad categories, including taxes, human capital, and global reach. Ohio’s top grade came in logistics (“A”), while its lowest grade was for worker benefit costs (“C-“). The only category in which Ohio declined from 2018 was sector diversification, dropping to a “B-” from a “B.” Only five states were given a grade of “A,” but four of them are in the Midwest or are neighboring states: Indiana, Iowa, Kentucky, and Michigan. 8/7/2019
Vice President Mike Pence visited Fairfield County earlier this week to lead a groundbreaking ceremony for OMA member and auto supplier Magna Seating. The $60 million manufacturing facility near Lancaster will provide an estimated 300 jobs by 2021. It will be Magna’s fifth manufacturing plant in Ohio.
Speaking to more than 300 attendees, the vice president focused on the need for Congress to approve the USMCA trade deal yet this year. The NAFTA replacement would encourage more goods and materials to be manufactured in the U.S., he said. Canada and Mexico buy more manufactured goods from Ohio than the rest of the world combined. As of 2017, Ohio’s top export to both those countries was transportation equipment, totaling nearly $8 billion. 7/30/2019
Taking part in this week’s groundbreaking for Magna Seating’s new facility near Lancaster were (from left) U.S. Rep. Steve Stivers, Magna CEO Don Walker, Vice President Mike Pence, and Acting Director of the U.S. Labor Department Patrick Pizzella. (Photo credit: Magna)
The Thursday, Aug. 22 meeting of the OMA Government Affairs Committee will be hosted by Anheuser-Busch at its Columbus brewery, 700 Schrock Road, from 9:30 a.m. to 1 p.m. An optional tour and beer tasting will take place afterwards. This is a good opportunity to gain greater insight into the broad spectrum of recent state legislative activity. Register online or call (800) 662-4463. 8/1/2019
State Rep. Mark Romanchuk (R-Mansfield) has announced he will run for the upper house in 2020, vying to represent Ohio’s 22nd Senate District. The seat is currently held by Senate President Larry Obhof, who is term-limited.
In his announcement, Rep. Romanchuck said: “I look forward to continuing to fight for the conservative principles of lower taxes, less spending, and more jobs for the people of Richland, Ashland, Holmes, and Medina counties as a member of the Ohio Senate.”
Mark and his wife Zoi own a manufacturing firm, PR Machine Works, Mansfield, which is an OMA member. OMA staff members frequently work with Mark on policy matters. He brings a strong background in business and data analysis to his work in the General Assembly. Learn more about Mark and how to support his campaign. 8/1/2019
Richard Rogovin, chairman and general counsel of OMA member U.S. Bridge in Cambridge, Ohio, has been appointed to the advisory committee of the Export-Import Bank of the United States (Ex-Im). The advisory committee, as required by Congress, advises Ex-Im on its programs, which provide competitive financing to support American jobs through exports. Ex-Im is self-funded through user fees it collects.
In May, the U.S. Senate confirmed Kimberly Reed as president of the Ex-Im, along with two other board appointees, allowing the bank to once again approve loans greater than $10 million. The OMA strongly supports the Ex-Im, which serves 200 exporters in Ohio with a combined $1 billion in exports.
Ex-Im’s full operations risk ceasing again Sept. 30 when its charter is scheduled to expire. The NAM this week announced its support for bipartisan legislation that would reauthorize the bank for 10 years. 8/1/2019
In the latest 50-state comparisons by Business Facilities magazine, Ohio and its manufacturing muscle fare well in several categories. As expected, the Buckeye State finished strong for overall manufacturing employment (No. 3) and automotive manufacturing strength (No. 2). Some of Ohio’s other top 10 rankings include the following:
- 6th in Qualified Opportunity Zones;
- 7th in Solar Power (percentage of electricity);
- 8th in Percentage of Workforce in Manufacturing;
- 9th in Aerospace Production;
- 10th in Foreign Trade Zone Activity (imports);
- 10th in Tech Job Employment; and
- 10th in Tech Jobs Growth.
The publication found the best overall business climate in Tennessee, due in large part to its “customized workforce training, prefertilized sites, and lower industrial electricity costs.” 7/30/2019
The OMA has updated its annual Ohio Manufacturing Counts publication for 2019-2020. Compiled using research from state and federal agencies, the document is a data-driven look at the significant impact manufacturing has on Ohio’s economy.
Containing more than 20 pages of facts and figures, showcased with tables and charts, the publication includes findings such as:
> Manufacturing is responsible for around 17% of Ohio’s Gross Domestic Product – $107.9 billion in 2017 – making Ohio’s manufacturing sector the nation’s third largest after California and Texas.
> As the largest industrial sector in the state, manufacturing provides more than 700,000 jobs for Ohio workers.
> Manufacturers in Ohio have an annual payroll of $40 billion, the highest total annual wages of any Ohio industry sector.
Future updates to the publication will be made as new data become available. 7/23/2019
A new Quinnipiac Poll of Ohio released Thursday shows former Vice President Joe Biden as the only Democratic presidential candidate leading President Donald Trump in a one-on-one matchup, with the president virtually tied with five others.
Nationally, Biden holds a comfortable lead over the other top dozen Democratic presidential candidates, according to RealClearPolitics’ mix of polling data. 7/24/2019
Following the House’s final passage of the nuclear bailout bill, activity at the Ohio Statehouse will slow to a trickle for the rest of the summer.
Both the House and the Senate have issued their tentative session calendar for the second half of 2019, with both chambers set to be in session Wednesday, Sept. 18. 7/24/2019