Economy of Ohio


Economy of Ohio

The economy of Ohio includes many historically strong industries, such as motor vehicle manufacturing, more traditional industries, such as agriculture, and new and developing sectors such as the information industry and food processing.

Ohio's food processing industry processes an estimated $23.5 billion of shipments annually.cite web
last =
first =
authorlink =
coauthors =
title = The Ohio Food Processing Industry
work =
publisher = Ohio Department of Development
date = March, 2005
url = http://www.odod.state.oh.us/research/files/B405000000.pdf
format =
doi =
accessdate = 2008-02-18
] Some of the largest food processing plants in the world are also located in Ohio: the world's largest yogurt processing plant is operated by Dannon in Auglaize County, Campbell's operates the world's largest soup processing plant in Napoleon, Heinz operates the world's single largest ketchup processing plant in Fremont, and General Mills operates the world's largest frozen pizza processing plant in Wellston.

Wal-Mart is by far the largest single employer in Ohio,cite web
last =
first =
authorlink =
coauthors =
title = Major Ohio Employers
work =
publisher = Ohio Department of Development
date = January, 2008
url = http://www.odod.state.oh.us/research/FILES/B100000002.pdf
format =
doi =
accessdate = 2008-02-18
] with approximately 52,000 Ohio employees. The largest Ohio employer with headquarters in Ohio is Kroger, with approximately 36,500 employees, and headquarters in Cincinnati, Ohio.

General statistics

thumb|right|Wal-Mart is the single-largest private sector employer in Ohio, with approximately 52,000 employees in Ohio.">cite web
last =
first =
authorlink =
coauthors =
title = Ohio Department of Development Economic Overview
work =
publisher = Ohio Department of Development
date = January, 2008
url = http://www.odod.state.oh.us/research/FILES/E000.pdf
format =
doi =
accessdate = 2008-02-17
] Ohio's private sector is composed of 921,000 employers, which hire around 50.4% of Ohio's workforce, excluding agricultural operations.

Ohio's gross state product (GSP) was $461 billion as of 2006. If Ohio were to be its own country, it would rank between Turkey and the Netherlands in its nominal gross domestic product. [cite web
last =
first =
authorlink =
coauthors =
title = Total GDP 2006
work =
publisher = The World Bank
date = 2007-07-01
url = http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf
format =
doi =
accessdate = 2008-02-17
] The manufacturing sector contributes 19.3% of Ohio's GSP, followed closely by the financial activities sector with 18.3%. Ohio has a developing technology sector and is home to over 28,000 employers that employ nearly 820,000 people; its rate of technology operations is 14% higher than the US average.

Between 2004 and 2014, Ohio's employment is expected to grow by 425,800 jobs, or approximately 7.3%. Personal income grew an average of 4.4% in 2006. Roughly 14.3% of the state's 5,477,000 employees work in the manufacturing sector. Major manufacturing employers include Timken Company, General Motors, and Honda. Ohio's exports are delivered to 205 countries and constitute 3.9% of total US exports; major exports include motor vehicles and machinery.

Major employers

The following is a list of the top 10 Ohioan employers with headquarters in Ohio.

References

External links

* [http://www.census.gov/ United States Census Bureau]
* [http://www.odod.state.oh.us/ Ohio Department of Development]


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