Economy of Ohio

The economy of Ohio nominally would be the 20th largest global economy (behind Turkey and ahead of Switzerland) according to The World Bank as of 2022. The state had a GDP of $822.67 billion in 2022, which is 3.23% of the United States total, ranking 7th in the nation behind Pennsylvania and ahead of Georgia.

Ohio is commonly noted as the Nation's Industrial Capital, dating to its roots in the Rust Belt and Ohio's present-day intelligence and scientific dominance. The year ending July 2011 saw the state ranked fourth in the nation in job creation behind Texas, California, and New York. By 2016 the state wasn't in the top 10 for job growth, but between 2017 and 2018 the state saw an increase in job creation of 44,600.

After California and Texas, Ohio is the third largest U.S. manufacturing state, with total output in 2017 approaching $108 billion. Home to more than 12,000 manufacturers, 12.6% of the Ohio work force is dedicated to manufacturing.

Ohio is considered a center of science and industry, with museums dedicated to such in Columbus, COSI, the Great Lakes Science Center in Cleveland, the Imagination Station in Toledo, and the Boonshoft Museum of Discovery in Dayton. The state includes many historically strong industries, such as banking and insurance, which accounts for 8% of the gross state product, motor vehicle manufacturing, research and development, and steel production, accounting for 14-17% of the nation's raw output. More traditional industries include agriculture, employing one out of seven Ohioans, and new and developing sectors include bioscience, green, information, and food processing industries. Ohio is the biggest manufacturer of plastics and rubber in the country, has the largest bioscience sector in the Midwest, and ranked fourth in the country for green economic growth through 2007.

The state is recognized internationally as the "Fuel Cell Corridor", while Toledo is recognized as a national solar center, Cleveland a regenerative medicine research hub, Dayton an aerospace and defense hub, Columbus a technological research and development hub, and Cincinnati a mercantile hub.

Wal-Mart is the largest private sector employer in Ohio with approximately 50,500 employees in 2017. The largest Ohio employer with headquarters in Ohio is the Cleveland Clinic, with approximately 49,050 employees and headquarters in Cleveland. The largest employer at a single location in Ohio is Wright Patterson Air Force Base in Dayton. 70% of the nation's electrometallurgical ferroalloy manufacturing employees are located in Ohio.