Leadership

Study: Ohio No. 4 for Economic Development Competitiveness

Ohio is No. 4 in Site Selection magazine’s 2021 Prosperity Cup rankings, a comparison of state competitiveness in economic development. Released this week, the rankings are based on 10 criteria, including new and expanded facilities, capital investment, and jobs created.

This news comes weeks after Ohio won its second consecutive Governor’s Cup, also presented by Site Selection, for having the largest number of economic development projects per capita. 5/5/2021

Study: Ohio Lags in Economic Recovery

Ohio trails the U.S. average when it comes to the economic recovery, according to a study by WalletHub. The Buckeye State is ranked 36th — well behind neighbors Indiana (15th) and Kentucky (19th), but ahead of West Virginia (44th), Pennsylvania (48th), and Michigan (51st).

Meanwhile, the “Back to Normal Index,” published by Moody’s Analytics and CNN Business, shows Ohio’s economic activity was at 90% its pre-pandemic level as of April 30. 5/4/2021

Supply Shortages, Too Few Workers Threaten Manufacturing’s Recovery

U.S. manufacturing activity slowed in April, falling from its recent 37-year high due to shortages of supplies and labor, according to the Institute for Supply Management’s (ISM) latest report. Still, the index indicated solid growth with all 18 major manufacturing sectors reporting expansion — the first time that has happened since 2014.

Meanwhile, the IHS Markit Flash U.S. Manufacturing report indicated that manufacturing activity expanded at a record pace last month.

Despite the strong demand, supply chain disruptions, “crazy” prices for inputs, and exacerbated labor shortages pose a threat to the recovery, as reported by MarketWatch. 5/4/2021

Manufacturers Oppose Federal Price Controls for Drugs

The National Association of Manufacturers this week expressed its opposition to Congressional Democrats’ drug pricing bill (HR 3), which would allow the federal government to negotiate for decreased prices on behalf of Medicare.

The OMA echoes the warnings sounded in NAM’s letter to Speaker Nancy Pelosi (D-Cal.): “Price controls of any kind are never a correct solution.” PhRMA says HR 3 threatens access to medicines, future innovation, and U.S. jobs. 5/5/2021

May 11 Webinar Will Focus on Exporting Fundamentals

Do you want to begin exporting or expand your current global footprint? A free May 11 webinar hosted by the Ohio Development Services Agency and others will provide an overview of the export process and steps required to do business overseas. Learn more. 5/6/2021

Cybersecurity for Manufacturers

When it comes to cyberattacks, manufacturers have their own unique risks. This includes intellectual property theft, interruption of operations, and direct theft of funds. Check out this audiocast by OMA Connections Partner RSM to discover how manufacturers can boost their cybersecurity. 5/6/2021

North Central Ohio Industrial Museum Opens Soon

Those who appreciate Ohio’s manufacturing history will soon be able to visit the North Central Ohio Industrial Museum in Mansfield. It will officially open to the public this summer inside the historic Ohio State Reformatory (OSR). The museum will be open the same hours as OSR and will be free to tour with the purchase of a ticket to the prison-turned-museum. Read about it in the Mansfield News Journal. 5/4/2021

At a Glance: Social Media Use in 2021

The Pew Research Center’s latest survey on social media use finds that among the vast majority of Americans who use socials, YouTube (81%) and Facebook (69%) dominate. Other findings include:

• A majority of 18- to 29-year-olds use Instagram (71%) or Snapchat (65%).
• Roughly half of adults who have a bachelor’s or advanced degree (51%) use LinkedIn.
• About half of Hispanic (52%) and Black Americans (49%) use Instagram, compared to 35% of White Americans.

While social media use has remained steady in recent years, its use by 35- to 49-year-olds (81%) has nearly caught up to that of 18- to 29-year-olds (84%). Meanwhile, there are now more than 100 widely recognized social media platforms. 5/3/2021

CEOs Say Ohio Is 7th Best State for Business

Despite the impact of the pandemic, Ohio has jumped two spots in Chief Executive magazine’s 2021 rankings of “Best and Worst States for Business.” Based on feedback from CEOs across the nation, the comparison places the Buckeye State at seventh best overall.

The publication recognized Ohio’s “continuous groundbreakings and expansions” during COVID-19, as well as the business community’s high regard for JobsOhio, the state’s private economic development organization. 4/29/2021

Ohio Broadband Expansion on Verge of Approval

This week, the Ohio Senate passed a slimmed-down broadband expansion bill to expand internet access to unserved areas of Ohio. House Bill 2, which includes an emergency clause, creates a Residential Broadband Expansion Grant Program to fund last-mile infrastructure. It has been a priority for both chambers and the DeWine administration throughout the pandemic.

The bill is now set for a House concurrence vote as early as next week. 4/29/2021