News and Analysis
Manufacturers in Ohio and across the U.S. are wrapping up an impressive 2023, having added a record $2.85 trillion to the nation’s economy, according to Chad Moutray, chief economist for the National Association of Manufacturers.
Data from the U.S. Bureau of Economic Analysis show Ohio’s manufacturing output reached a seasonally adjusted annual $129.15 billion as of Q2 2023. That’s $21.6 billion more than the GDP recorded just two years earlier. 12/27/2023
A new study by real estate firm Savills finds that from January 2021 to October 2023, manufacturers in the U.S. added more than 845,000 jobs. Large-scale job creation was concentrated in the South and Midwest, including Ohio.
Two-thirds of newly created manufacturing jobs are tied to EV batteries, semiconductors, clean energy, and biomanufacturing. Ohio is “vying for the most diversified portfolio of new manufacturing jobs,” the firm said. 12/27/2023
Between New Year’s Day and summer recess, the Ohio House is planning seven meetings; the Ohio Senate is planning eight. That will leave little time for lawmakers to tackle a lengthy to-do list, which includes modifying the state’s new recreational marijuana law.
Also, when lawmakers return to Columbus in January, the House will begin work on the two-year capital budget, which funds projects tied to state agencies (other than the Ohio Department of Transportation) and education. Funds for local community or regional projects are also typically included. 12/27/2023
Dec. 20 was Ohio’s filing deadline for the March 19, 2024 primary election. Not only is 2024 a presidential election year, Ohio ballots will also feature the U.S. Senate race and contests for three seats on the state supreme court. Feb. 20 is the deadline to register for the primary.
As always, the OMA will closely monitor state legislative races. Half the seats in the Ohio Senate and all the seats in the Ohio House will be on the ballot. (Here are the final legislative district maps.)
Of the 21 House Republicans who supported Rep. Jason Stephens (R-Kitts Hill) for speaker over Rep. Derek Merrin (R-Napoleon), 10 have primary challengers, reports say. Meanwhile, many Statehouse observers are anticipating a contested speaker’s race in early 2025, when Speaker Stephens could draw a challenge from term-limited Senate President Matt Huffman (R-Lima). 12/26/2023
To manage the transition to electric vehicles, auto suppliers must develop new strategies for innovation, investment, manufacturing, and flexible business approaches, OMA Connections Partner Plante Moran reports. In this guidance, the firm shares insight to help companies prepare. 12/26/2023
The DeWine-Husted administration has prioritized expanding the number of readily available sites to attract more large economic development projects to Ohio. As a result, state lawmakers earlier this year included $750 million for the All Ohio Future Fund in the FY 2024-25 budget (House Bill 33).
The Ohio Department of Development has launched a new website to detail eligibility requirements for the fund, which will provide interest-free and potentially forgivable loans to develop these sites. The application process opens in early 2024 to counties, cities, townships, port authorities, and other organizations looking to develop project-ready sites. Read more. 12/18/2023
Former President Donald Trump has endorsed Bernie Moreno in Ohio’s GOP primary election for U.S. Senate, providing a big boost for the Cleveland businessman’s campaign.
A televised debate between state Sen. Matt Dolan (R-Chagrin Falls), Secretary of State Frank LaRose, and Moreno is set for Jan. 22. The winner of the Republican’s March 19 primary will go on to face incumbent U.S. Sen. Sherrod Brown (D) in the November election. 12/20/2023
Term-limited Rep. Derek Merrin (R-Monclova) has joined an already crowded Republican primary contest in northern Ohio’s 9th Congressional District, according to reports. Earlier this year, Merrin lost the race for Ohio House speaker due to a divided GOP caucus. 12/21/2023
U.S. Sen. JD Vance (R-Ohio) this week said he opposes the sale of U.S. Steel to Japanese steelmaker Nippon Steel, saying “a critical piece of America’s defense industrial base was auctioned off to foreigners,” according to reports.
Vance and other Republicans have asked Treasury Secretary Janet Yellen, who chairs the Committee on Foreign Investment in the U.S., to urge CFIUS to block the sale.
Meanwhile, U.S. Sen. Sherrod Brown (D-Ohio) issued this statement, saying: “A foreign company shouldn’t be able to swoop in, ignore the voices of union workers, and buy a major steel manufacturer behind closed doors.” 12/20/2023
Ohio House Speaker Jason Stephens (R-Kitts Hill) recently said it could be a good time to consider doing away with term limits on state lawmakers. According to reports, Stephens said Ohio’s term limits are hindering the legislature’s ability to address difficult subjects.
Changing term limits would require a state constitutional amendment and approval from voters, as noted in this story by The Plain Dealer. 12/19/2023