Ohio Remains Nation's No. 1 Choice for Capital Investment

State awarded for achievements in economic investments and business expansion for second consecutive year

COLUMBUS, Ohio (March 6, 2008) – Site Selection Magazine, one of the nation's leading location assistance publications, has awarded the state of Ohio with the 2007 Governor’s Cup Award. The announcement marks the second consecutive year Ohio has won the annual award. Site Selection Magazine’s March issue highlights Ohio’s efforts in leading the nation in new business development and expansion, as well as the state’s achievements in economic investments.

According to the Ohio Business Development Coalition (OBDC), the nonprofit organization that markets the state for capital investment, the Governor’s Cup Award further demonstrates Ohio’s standing as the nation’s No. 1 choice for capital investment.

"In Ohio, we're taking aggressive steps to ensure that this state remains business friendly," said Gov. Ted Strickland. "From already enacted tax reform to ongoing public-private partnerships aimed at transforming the state’s business climate, we’re making it easier for companies to compete in a global economy, while providing a better quality of life for Ohio workers.”

The No. 1 ranking for Ohio was based on the number of private capital investments for new or expanded facilities that involved an investment of at least $1 million, created a minimum of 50 new jobs, or added at least 20,000 square feet of new floor area. According to Site Selection’s rankings, Ohio had 399 facilities that met these criteria. Illinois came in second this year with 362 projects, followed by Tennessee (293), North Carolina (291) and Texas (281).

“We recognize that now more than ever businesses have choices about where to go and how to operate,” said Lieutenant Governor Lee Fisher, who also serves as Director of the Ohio Department of Development.  “The Governor’s Cup Award demonstrates that Ohio’s common-sense, partnership approach to securing and retaining business investment is working.”

The announcement marks the sixth time Ohio has been awarded the Governor’s Cup. The state received the award in 1993, 1994, 1995, 2003 and 2006, tying only Texas for the most wins compared to any other state.

"Ohio’s back-to-back Governor’s Cup awards are evidence that our economic development strategies for creating a healthy business development climate in the state are working, and executives are realizing they’re able to find the perfect balance between successfully growing a business and still enjoying life,” said Ed Burghard, executive director of the Ohio Business Development Coalition (OBDC). “Business owners profit from the bottom-line benefits of better work:life balance for their employees. Ohio offers low-cost, low-stress communities in a combination of micropolitan and metropolitan cities. This diversity provides executives and employees the resources and time to make any ambition achievable. Ohio truly is the state of perfect balance.”

Ohio ranks fifth in the nation for the number of headquarters in the state in the Fortune 500. Ohio also is home to 60 Fortune 1000 company headquarters representing multiple industries. From polymers and advanced materials to manufacturing and advanced energy, hundreds of Ohio-based organizations are leading the nation in cutting-edge technology innovations and manufacturing output.
    
About the Ohio Business Development Coalition

The Ohio Business Development Coalition (OBDC) is a nonprofit organization that markets the state for capital investment. The OBDC provides marketing strategy and implementation to support Ohio’s economic development efforts. For more information on business development or business relocation, visit www.ohiomeansbusiness.com.

For more information about the Governor’s Cup Award, visit www.siteselection.com.

Media Contact:

Dace de la Foret
Paul Werth Associates
614-224-8114, ext. 235
delaforet@paulwerth.com