It’s consistently been ranked one of the best states for business, is a bellwether state for politics and is conveniently located between two of the major regions of the country. Ohio would be a superb choice for a place to live and start a franchise!
With nearly 11,600,000 residents, Ohio is a state full of busy metropolitan areas. There are plenty of large (or small) cities to choose from, but here are a few of our favorites:
Columbus: Both the state capital and the largest city in the state, Columbus has a diverse economy and has been ranked one of the best cities for business in the country.
Cincinnati: Home to two major sports teams and the University of Cincinnati, the city has a strong arts scene and is renowned for its historic architecture.
Dayton: Known for its aerospace and defense industries, Dayton houses the National Museum of the United State Air Force and was home to Orville Wright.
The two largest industries in Ohio are finance and manufacturing, each putting out about 18 percent of the state’s GDP. Manufactured goods include rubber, plastic, metal, appliances and electrical equipment. In addition, health care, education, trade and transportation are also major players.
A Beautiful Place To Do Business
Ohio has been consistently ranked one of the best states to do business in by a multitude of magazines and organizations, due to the taxes, business growth and regulations.
Ohio passed a law in 2013 that gives extra protection and benefits to franchisees.
The state has a commercial activity tax, but it’s incredibly low (and you might not even have to pay it if your business doesn’t make enough income).
Ohio’s personal income tax is also quite low, ranging from 0.54 to 5.39 percent.
There are 31,300 franchises in Ohio out of 916,800 small businesses in the state.