News and Analysis
A buy-sell agreement — which formally documents the terms related to a business’ transfer of ownership interests — is one way to help ensure a successful business transition to protect your family in the event of premature death or disability. OMA Connections Partner Plante & Moran has published this summary on how these agreements work and why they’re important. 1/15/2020
The Manufacturing Policy Initiative at Indiana University has published this comparison of the major presidential candidates and where they stand on key manufacturing issues. The publication will be updated throughout the 2020 campaign. 1/14/2020
A new Gallup survey finds 37% of Americans consider themselves conservative, followed by 35% who identify as moderates, and 24% as liberals. Gallup also found that slightly more Americans align with Democrats (47%) than with Republicans (42%). So it appears there’s still middle ground in America. 1/13/2019
There’s some positive news for Ohio’s smaller and mid-sized manufacturing communities in a report by the Greater Ohio Policy Center. The organization’s research shows the state’s “legacy cities” — industrial cities with populations greater than 20,000 in or near metro areas — are losing population at a much slower rate than during the six-year period following the Great Recession. At the same time, these cities have experienced less unemployment and poverty, and higher per-capita incomes. 1/13/2020
This week, Texas state government said it experienced a spike in attempted cyberattacks from Iran on its agency networks at the rate of about 10,000 per minute. Meanwhile, the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency issued an alert calling for increased vigilance.
All of this comes after a report by IBM researchers that found cyberattacks had doubled in the first half of 2019. Half of those attacks were on manufacturers.
To help defend against cyber threats, review this checklist from OMA Connections Partner Clark Schaefer Hackett, as well as this analysis from Connections Partner RSM. If you haven’t already done so, check out the OMA’s recently recorded cybersecurity webinar presented by GBQ Partners. 1/8/2020
The OMA’s policy committees provide opportunities for you to work with colleagues, subject matter experts, state policymakers, and government agency staff to gain critical updates and help set policy priorities for Ohio manufacturing. This week, the 2020 meeting schedule was released for all five OMA standing policy committees: energy, environment, government affairs, safety & workers’ compensation, and tax.
All OMA members are welcome to attend these meetings. All we ask is that you register regardless of whether you’re coming in person or joining via phone. Register from this web page. 1/8/2020
OMA Connections Partner Plante & Moran reports on the latest ISM Manufacturing Index numbers, which showed the U.S. manufacturing sector unexpectedly weakened in December. The analysis points out that CEO confidence remains low, despite upbeat sentiment from consumers.
Meanwhile, here are the latest manufacturing job numbers from Ohio. 1/6/2020
In its latest Best States for Business list, Forbes has named Ohio as second best for quality of life. Factors considered were cost of living, school test performance, crime rates, culture and recreational opportunities.
The Buckeye State did not fare as well in Forbes’ overall comparison — dropping nine spots from last year to 29th, after peaking at 11th in 2016. Hindering Ohio were its labor supply (41st) and growth prospects (44th). Ohio was 22nd for current economic conditions, 25th for business costs, and 26th for regulatory environment.
North Carolina was ranked the best state for business, followed by Texas and Utah. 1/8/2020
There is a strong correlation between a state’s manufacturing sector and the impact it has on America’s overall economy. This map by cost information website HowMuch.net visualizes the economic importance of each state by factoring the GDP of every U.S. county.
In terms of both jobs and GDP, Ohio is the third-largest manufacturing state, trailing only California and Texas. 1/6/2020
The Ohio Legislature has published its online session calendar for 2020. Both the House and Senate will be back in action later this month.
Because this is an election year, activity will be front-loaded through June. The General Assembly will break for campaigns through most of the fall, then return for a fast-paced lame duck session after the November election. 1/2/2020