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Tags: US State Facts | industries in ohio | economy

Top 5 Industries in Ohio: Which Parts of the Economy Are Strongest?

By    |   Monday, 13 April 2015 12:48 PM

Ohio has always played a vital role in the nation's economy. Many industries in from the state have played a role in enhancing necessities of life like transportation, construction, and food production.

The rest of the nation is only as strong as the major industries in Ohio. The good news that is manufacturing is growing. It contributed 99.8 billion to Ohio's gross state product in 2014 — a 12 percent increase from 2012 levels, according to Cleveland.com.

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Here are the five industries in Ohio that take center stage in driving the state's economy:

1. Automotive: Northeast Ohio has housed many auto assembly and auto parts plants since the early 20th century because of easy access to steel, glass, and rubber. The future is looking strong for this industry. Automotive jobs are forecasted to 19 percent — reaching approximately 28,800 employees — by 2024, according to Cleveland.com.

2. Steel: Increased domestic oil and gas drilling has meant good things for Ohio's steel producers. Instillation of new oil pipelines has boosted the demand for steel throughout the state. Domestic oil and gas production is projected to create 1.1 million in related manufacturing sectors like steel over the next few years, according to Marketplace.

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3. Agriculture: Manufacturing isn't the only thing driving Ohio's economy. Food production is also big business in the Buckeye State. According to PolitiFact, it contributed $105 billion to Ohio's total economic output of $898.7 billion in 2010 — an 11.7 percent share. The state's food and agricultural cluster accounts for 14 percent of Ohio jobs and saw a one percent increase in job growth from 2008 to 2010.

4. Small Appliances: Building small kitchen appliances has helped Ohio's appliance industry stay robust during economic troubles in other manufacturing sectors. Whirlpool, which produces 1.5 million Kitchen Aid mixers and blenders per year, bases 50 percent of its U.S. employees at the company's Ohio plants. It recently invested $40 million to double the size of its Greenville, Ohio plant, according to the Dayton Daily News.

5. Aerospace:
Ohio's reputation as the birthplace of aviation is more than a catchphrase. The state's aerospace industry produces an annual economic impact of more than $8 billion, according to hiVelocity. Wright Patterson Air Force Base makes a $5 billion impact on the state and NASA Glenn Research Center brings in another $1.3 billion. The aerospace industry employs more than 130,000 workers in Ohio.

URGENT: Do You Approve of the Job John Kasich Is Doing as Ohio Governor?

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Ohio has always played a vital role in the nation's economy.Many industries in from the state have played a role in enhancing necessities of life like transportation, construction, and food production.
industries in ohio, economy
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2015-48-13
Monday, 13 April 2015 12:48 PM
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