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Economic Profiles Updated for All 88 Ohio Counties

July 19, 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

 

 

How Manufacturers Can Combat Rising Logistics Costs

July 19, 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

USMCA Roundtable Set for August 1

July 19, 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

Ohio’s Budget Impasse Continues

July 12, 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

Manufacturers Intensify Efforts to Ratify USMCA

July 12, 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

CNBC Names Ohio a Top 10 State for Business

July 12, 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

House & Senate Leaders Fail to Pass Operating Budget; Negotiations Continue

July 2, 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

Manufacturing Roundtable Set for July 18 in NW Ohio

July 2, 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

Export Guidance Offered to Small & Mid-Sized Businesses

July 2, 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

Lawmakers Continue Negotiations on Biennial Budget

June 28, 2019

Members of the House and Senate continue to negotiate differences between the chambers’ versions of the state’s two-year main operating budget, House Bill 166. The spending plan contains several major policy provisions that would affect manufacturers — including workforce funding, numerous tax provisions, and a plethora of smaller changes.

The HB 166 conference committee convened Tuesday to receive the latest revenue estimates from OBM and LSC. Conferees were told that tax revenue for the current fiscal year — as well as the two covered by the new budget — would be hundreds of millions more than the estimates used at the beginning of the budget writing process. After the hearing, the committee recessed until a later date, which was still unknown as of the deadline for this issue of the Leadership Briefing.

The conferees have a deadline of 11:59 p.m. Sunday, June 30, to provide a final budget agreement. If the committee fails to produce a report that is accepted by the House and Senate, and signed by the governor, then the state would require a continuing resolution — a temporary funding measure to provide for the functions of state government. Both the House and Senate are scheduled to be in session for the weekend in anticipation of a budget agreement. 6/27/2019