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The top five states ranked with the lowest effective tax rate on new investment are: (1) Maine (3.0%); (2) Oregon (3.8%); (3) Ohio (4.4%); (4) Wisconsin (4.5%); and (5) Illinois (4.6%).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.Notable defense contractors include Goodyear Tire and Rubber Company in Akron, Lockheed Martin in Akron, which won a contract to develop a space-ship in 2003 and produces the vertical launch ASROC missile, Columbus-based Zyvex Performance Materials develops the Piranha Unmanned Surface Vessel.Gravitational Energy Corporation, located in Cuyahoga Falls, proliferates Gravity Assisted Power (GAP) machines in cooperation with Dri Powder, LLC to the military.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", Wal-Mart is the largest private sector employer in Ohio with approximately 50,500 employees in 2017.

Biotech research and development employs directly 12,415 residents, while agricultural bioscience contributed the largest economic impact, at .7 billion.Major manufacturing employers in the state include AK Steel, Timken, and Honda. exports in 2009, with top destinations being Canada at .2 billion, followed by Mexico, China, the United Kingdom, Greece, Brazil, Japan, Germany, France, and Australia., Ohio was ranked #6 in the nation for Fortune 500 companies with 23, including Cardinal Health (#17), Procter & Gamble (#22), Kroger (#23), Macy's (#103), Nationwide Insurance (#118), Goodyear Tire and Rubber (#141), Progressive Insurance (#161), American Electric Power (#172), Eaton Corporation (#194), and Owens Corning (#432).In 2007, foreign-based companies employed 229,500 of Ohio's citizens, led by Japan, the United Kingdom, Germany, France, and Switzerland. Dayton is designated as the state's aerospace hub due to its high concentration of aerospace and aviation technology.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.Defense systems play a smaller role in the industry.Ohio corporations were awarded around .5 billion of United States Department of Defense procurements.The Air Force estimates that Wright-Patterson's annual economic impact on the Dayton region is .1 billion.Ohio had three city-regions in the top 30 biotech locations in the country, with Cleveland-Akron ranked #20, Columbus #22, and Cincinnati #28.In 2013, Ohio was ranked in the top ten states for best business climate by Site Selection magazine, based on a business-activity database.The state was edged out only by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development.


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