News and Analysis
The return of college football is almost here. With pigskins on the mind, Sports Illustrated has ranked Ohio Stadium as one of the five greatest stadiums in college football history. Currently the third-largest college stadium in the sport, “The Shoe” offers one of America’s best game day environments, the magazine says. This ranking comes just a week after SI named Ohio State the No. 2 college football program of all time, one spot above Michigan. O-H! I-O! 8/22/2019
Ex-Im operations are being threatened by a deadline of Sept. 30, the date by which Congress must re-authorize the bank’s charter. As the official export credit agency of the United States, Ex-Im has served 200 exporters in Ohio since 2014, with a combined $1 billion in exports. It’s estimated that when Ex-Im activities were recently hobbled due to the lack of a board quorum, U.S. manufacturers lost $119 billion in output, which translated into 80,000 fewer manufacturing jobs in 2016 and 2017 alone. 8/15/2019
On Thursday, Aug. 20, Northeast Ohio’s MAGNET will host its Additive Manufacturing Cluster of Ohio Conference in Cleveland, from 8 a.m. to 5 p.m. According to the organizers, conference attendees will walk away with a better understanding of how to use 3D printing to gain a competitive edge in the marketplace. For insight before you attend, check out this blog post on how additive manufacturing can benefit your operations. 8/13/2019
On Thursday, Aug. 22, the quarterly meeting of the OMA’s Government Affairs Committee will be hosted by Anheuser-Busch at its Columbus brewery. An optional tour and beer tasting will take place afterwards. Get up to date on recent state legislative activity by registering online or calling (800) 662-4463. 8/13/2019
Gov. Mike DeWine will travel to Japan next month, Sept. 8-13, to seek new opportunities for partnership between the island nation and Buckeye State. Japan is Ohio’s top international investor, with 72,860 Ohioans employed at 852 Japan-owned establishments across the state. Japan is also the fifth largest export market for Ohio products, base on 2018 data.
As part of his trip, the governor will participate in the Midwest U.S.-Japan Association’s annual conference. Accompanying him will be Director Lydia Mihalik of the Development Services Agency, as well as JobsOhio President J.P. Nauseef. 8/14/2019
The new state budget (House Bill 166) — passed and signed in mid-July — includes a provision to create the Ohio Maritime Assistance Program. Under this new program, certain port authorities can apply for grants to construct new marine cargo terminals or improve existing terminals on the shores of Lake Erie or the Ohio River. Funded at $23 million over the biennium, the program will rely on dollars used by the state to award loans to businesses for land and building acquisition, construction, expansion or renovation, and equipment purchases.
Ohio is among the top ten states for maritime port freight, yet has not historically invested state revenue into port infrastructure, as do larger port states. The OMA supports the utilization of state funds to enhance Ohio’s maritime ports, and the association welcomes the funding provision in the new budget. 8/15/2019
The Federal Reserve Bank of Cleveland’s newly released Cleveland Metro Mix indicates that the city’s economy continues to improve. While employment grew slowly in 2018, the metro’s unemployment rate dropped steadily in the early part of 2019, landing at 4.3% in May. Manufacturers have played a key role in that improved statistic, with manufacturing employment growing 2.2% year-over-year as of December 2018. Moreover, manufacturing accounted for about one-third of the 7,728 net new jobs in the metro area between December 2017 and December 2018. 8/6/2019
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)