News and Analysis
$3.5B Investment Announced for Fayette Co. Electric Vehicle Battery Factory
October 14, 2022This week, to a packed house of officials at the Statehouse, Honda Motor Co. and LG Energy Solution announced that their joint venture has selected Fayette County to build a new $3.5 billion facility where electric vehicle batteries will be manufactured to power Honda and Acura electric vehicles. The project is expected to create 2,200 new jobs.
Honda further announced it is investing $700 million to retool existing Ohio facilities to advance its vision of a fully electrified future.
OMA President Ryan Augsburger released this statement: “Ohio’s automobile manufacturing legacy begins another amazing chapter today. The Buckeye State is already a leader in North America’s quickly evolving EV market. This latest development will ensure Honda has dependable access to Ohio-manufactured batteries – and Ohioans can look forward to more well-paying career opportunities in the near future as Honda continues to invest in our state.
“Ohio continues to prove to the nation – and the rest of the world – it has what it takes to compete for 21st century manufacturing jobs!” 10/11/2022
Prepare to Vote!
October 14, 2022Like the end of Daylight-Saving Time on Nov. 6, the general election will be here before we know it. Early in-person voting began this week. Here are upcoming key dates:
- Nov. 5: Deadline to request absentee ballot (must be received by noon)
- Nov. 7: Absentee ballot postmark deadline
- Nov. 7: Last day for early in-person voting (8 a.m. to 2 p.m.)
- Nov. 8: Election Day (6:30 a.m. to 7:30 p.m.)
Here is your complete Ohio Manufacturers’ Voter Toolkit. 10/7/2022
Producer Price Index Up 0.4% in September
October 14, 2022The Producer Price Index for final demand increased 0.4 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported this week, this after final demand prices declined 0.2 percent in August and 0.4 percent in July. On an unadjusted basis, the index for final demand advanced 8.5 percent for the 12 months ended in September.
According to NAM Chief Economist Chad Moutray, food and energy are responsible for the September increase. 10/13/2022
Manufacturing Index Drops to Lowest Level Since May 2022
October 7, 2022Last month, U.S. manufacturing growth slowed to its lowest point in two years, nearing stagnation due to a decline in orders, according to the Institute for Supply Management’s latest survey. At 50.9%, the September Manufacturing PMI dropped below expectations, while manufacturing employment contracted for the fourth time this year.
On a positive note, U.S. manufacturing’s annual output soared to a new all-time high of $2.77 trillion in Q2. Ohio’s seasonally adjusted annual manufacturing GDP reached a record $128.76 billion for the same period. 10/4/2022
Early Voting Begins Oct. 12
October 7, 2022With only a month until Election Day, some key dates are quickly approaching for Ohio voters. These include the deadline to register (Oct. 11) and the start of early in-person voting and absentee voting by mail (Oct. 12).
Find several Ohio-specific voter resources at the Ohio Manufacturers’ Voter Toolkit. 10/6/2022
Oct. 19 Webinar Will Provide Product Liability Updates
October 7, 2022On Oct. 19, OMA general counsel Bricker & Eckler will host a webinar to provide manufacturers (and their suppliers) with updates on regulatory challenges and product liability threats facing manufacturers, especially in the post-pandemic era. This event is intended for owners, executives, HR and risk-management professionals, in-house counsel, and engineers. Register here. 10/4/2022
Oct. 13 Webinar: Reframe Your Export Game
October 7, 2022Looking to build your bottom line through new export sales? At 2 p.m., Thursday, Oct. 13, experts from the U.S. Small Business Administration, U.S. Commercial Service, and Export-Import Bank will conduct a webinar to provide an overview of federal government tools, resources, and services available to support U.S. companies of all sizes. Learn more and register. 10/5/2022
Economic Outlook Webinar, Nov. 9
October 7, 2022When will inflation level off? How will geopolitical conflict impact the global economy? Will interest rates continue to rise? OMA Connections Partner Barnes Dennig is hosting a Nov. 9 webinar with economist Dr. Alan Beaulieu, who will present his 2023 economic forecast. Learn more and register. 10/4/2022
Election Resources for Ohio Manufacturers
September 30, 2022Election Day is less than 40 days away. Ohio’s early voting begins Oct. 12.
To help ensure that manufacturers’ voices are heard, the OMA has created the Ohio Manufacturers’ Voter Toolkit. It’s full of Ohio-specific resources, including the OMA’s Election Guide, information on early voting, and a polling place locator.
The toolkit also includes key points addressing this year’s Supreme Court races, as well as this printable pocket card. (This graphic can be shared electronically.)
Share these resources. And make your voice heard! 9/28/2022
Polls Continue to Indicate Very Close U.S. Senate Race
September 30, 2022As Election Day nears, Ohio’s contest to replace retiring U.S. Sen. Rob Portman (R) continues to be a dead heat, according to Real Clear Politics. The publication’s polling data average shows Republican J.D. Vance leading Democrat and U.S. Rep. Tim Ryan by just 1.2 points.
The two candidates will debate in Cleveland on Oct. 10 and in Youngstown on Oct. 17.
It’s a different story in Ohio’s gubernatorial race, where incumbent Gov. Mike DeWine (R) leads former Dayton mayor Nan Whaley by a 17.4-point spread, according to the Real Clear Politics average. 9/29/2022