For the second consecutive year, Ohio has won the 2007 Governor’s Cup, Site Selection Magazine’s award for the state with the most new or expanded capital projects for the year. Accepting the award, Governor Strickland acknowledged Ohio’s diverse work force, reasonable cost of living, and location as some of the traits that attract new projects to the state. 

Lt. Governor. Lee Fisher, head of the Department of Development, noted four reasons for Ohio’s victory:

• Governor Strickland’s commitment to economic development within the state;
• The state's aggressive outreach to bring companies to Ohio;
• Ohio’s investments into industries with both long- and short-term benefits;
• A renewed focus on work-force and talent development within the state.

According to the magazine, areas of strength were:

• Akron
• Dayton
• Cincinnati-Middletown region

Ohio had 399 expansions and new plants last year, which topped runner-up Illinois' total by 37.

Fisher pointed out that the retention of Goodyear Tire and Rubber’s headquarters in Akron was very important to the city’s revitalization.  In addition to the $890-million investment for the project, the state partnered with a private developer,  a multi-billion dollar effort to develop the area surrounding the headquarters.  Both Strickland and Fisher are continuing work on Ohio’s development and hope to bring the Governor’s Cup to the state once again in 2008.

For more information, please contact Theresa Mullen, MT, State and Local Tax Leader at 330.497.2000.