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Archive
Ohio wins the Governor's Cup for the third consecutive year
10-Mar-2009
For three years running, Ohio has won the Governor's Cup to become the Nation’s top capital investment location. This proves that Ohio’s efforts to fundamentally redesign its business climate are working.
The state has reduced the cost of doing business here. The personal property tax has been eliminated and plans are on to fully phase-out the corporate franchise tax by next year. Besides this, the personal income tax has also been lowered to a total of 21% from its 2005 levels.
It is now confirmed that Ohio has the lowest business tax rates in the Midwest. The recognition has been awarded by Site Selection magazine’s Governor’s Cup Award for leading the nation in new and expanded facilities in 2008.
Ohio reaches global audience with its thriving International Trade and Export Industry
17-Mar-2009
As per estimates from the U.S. Department of Commerce International Trade Administration, Ohio's export industry grew by nearly 7 % in 2008 to US$45.5 billion, making Ohio the seventh largest exporting state in the nation. Ohio ranks seventh for exports overall and is now regarded as the only state in the U.S. that has experienced export growth every year since 1998.
OEConnection selected as Ohio’s top employer
17-Mar-2009
OEConnection LLC, a leading online parts and service exchange provider for the automotive industry, has been named one of Ohio's Best Employers for a third year by the Ohio State Council of the Society for Human Resource Management. The company was selected as one of 10 companies in the Small/Medium category.
The award program was designed to identify, recognize and honor the best places of employment in Ohio, which is expected to benefit the state's economy, its workforce and businesses.
Ohio officials welcome ranking
10-Mar-2009
In the wake of Ohio’s struggle with unemployment and job loss, the recognition received by the state as the Nation’s top capital investment location and as friendly sites for companies to locate their operations has come as a relief. The award highlights Ohio's efforts to build for the future.
Officials from Montgomery County, Dayton and Springfield welcomed the recognition from Site Selection magazine, which is circulated to executives who help decide where companies will locate or expand operations.
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JumpStart and Case Technology Ventures to Invest US$375K in Cleveland based comapny
17-Mar-2009
Northeast Ohio-based venture development organization JumpStart Inc. along with Case Technology Ventures announced an investment commitment of over US$375,000 in Cleveland, Ohio-based neurostimulation company Neuros Medical, Inc.
JumpStart noted that the current investment is their 49th such investment in a healthcare company.
ISUS planning to construct green homes
3-Mar-2009
Heeding US President, Mr. Barack Obama's call for new ways to reduce fossil fuel consumption, Dayton based ISUS Corp. plans to build green energy homes in the city’s historic Wright Dunbar neighborhood.
The company is ready to set examples to meet the challenges of reducing fossil fuel consumption and launching a new economy for the country.
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First Solar claims to produce 1 Gigawatt of Solar Electricity
20-Mar-2009
First Solar Inc announced that it has produced 1 gigawatt (GW) of its advanced solar modules since beginning commercial production in early 2002. The Company earlier produced its first 500 megawatts (MW) in over six year’s time and produced its second in eight months’ time, thereby now creating a total of 1GW.
The Company announced that it plans to have a capacity to produce more than 1GW per year by the end of this year.
Ohio Company gets Wind energy aids
9-March-2009
Dayton based-Webcore Technologies, a wind power company recently received a US$1 million grant from the state to help develop more of its product for wind turbines.
The company makes a product called Tycore, a composite material made of foam and fiberglass. It takes pieces of fiberglass and foam and, with a special process, wraps them with fiberglass threads. This strong material is used in the wind turbine blades.
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Firms build on gains in thin-film methods
1-Mar-2009
Toledo’s nonprofit Regional Growth Partnership has provided financial aid to at least seven alternative-energy firms through its US$23 million venture capital arm, Rocket Ventures, established with state grants and private donations.
In most cases, the investments offered by Rocket Venture have been small such as US$50,000, but served the purpose of the recipients in an invaluable manner because these firms are still in the research stage and had difficultly in getting finances from any source because of the recession.
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European business organization to open office in Cleveland, Ohio
4-Mar-2009
A European business organization that works towards helping small and midsize businesses in 38 countries is planning to open an office in Cleveland, which apparently is its first office in the United States.
The announcement of the new office was made on 5 March at the organization’s annual meeting. The organization, called the SME Union in Europe, was impressed with the Cleveland region’s commitment to build stronger ties with Europe.
Ohio budget continues to grow even in bad times
2-Mar-2009
Despite the terrible economic warnings and budget slashings, spending continues to grow in Ohio.
It is estimated that if spending levels in the two-year budget that Governor, Mr. Ted Strickland has placed before lawmakers are adopted, Ohio will spend nearly 44 % more in 2011 from all sources including state dollars, federal aid, and increased borrowing than it did a decade earlier.
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Ohio receives US$8.2 billion from federal stimulus
11-Mar-2009
Ohio will receive over US$8.2 billion in federal funds as part of the American Recovery and Reinvestment Act signed by US President, Mr. Barack Obama.
According to Ohio governor Mr. Ted Strickland the federal stimulus is the right investment at exactly the right time to help the slowed down economy.
The money will save or create more than 130,000 jobs for Ohioans and provide tax cuts to working families, while also helping to protect essential state services that Ohioans rely upon every day.
Governor, Interim Director announces grants to businesses and communities
9-Mar-2009
Ohio Governor, Mr. Ted Strickland and Interim Director of the Ohio Department of Development, Mr. Mark Barbash announced that the state has received a grant of US$200,000 in economic development to aid in the growth of businesses and the creation and retention of jobs in Ohio.
The grants were approved by the State Controlling Board and could create 150 positions and retain 90 jobs for Ohioans.
Ohio announces more than US$550,000 in clean Ohio grants to communities
9-Mar-2009
Ohio Governor, Mr. Ted Strickland and Interim Director of the Ohio Department of Development, Mr. Mark Barbash announced that more than US$550,000 in Clean Ohio Assistance Fund grants was approved by the State Controlling Board for Hamilton County and the Ironton Port Authority. Clean Ohio Assistance Fund grants are awarded to aid in brownfield redevelopment of Ohio’s urban areas.
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Wilmington Air Park to get over 430 new jobs
10-Mar-2009
The state of Ohio will provide a total of US$5.2 million in assistance to a new aircraft maintenance company that plans to hire up to 430 people within three years at Wilmington Air Park, Ohio.
The assistance is offered in the form of a 10-year, US$3.8 million tax credit, training grants and a low-interest loan to complement a US$5.9 million investment by Airborne Maintenance and Engineering Services Inc.
The company plans to start operation on May 1, 2009.
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