OMA: Ohio Budget Should Aim to Add to Manufacturing's Momentum
Ohio must continue to enhance its competitiveness
Ohio manufacturers have made headlines in recent years, despite a global pandemic and massive labor shortage. The sector has added more well-paying jobs and invested hundreds of billions of dollars in the Buckeye State.
With a new industrial revolution underway — coupled with ongoing supply shortages and shifting geopolitical relations — experts say this could be the most important time in Ohio's storied manufacturing history. Data collected by the Ohio Manufacturers' Association reinforce that claim.
The OMA's "2023 Ohio Manufacturing Counts" — available at ohiomfg.com — shows that manufacturing leads the state's private sector with an annual GDP of more than $130 billion. Ohio is third in the U.S. for manufacturing employees (more than 690,000) and manufacturing payroll ($44 billion). Ohioans on manufacturing payrolls earned an average of $67,000 as of 2021 (the most recent year available) — and an average of almost $31 an hour as of October 2022.
Please select this link to read the complete article from Crain's Cleveland Business.