When global corporate leaders look to locate and/or expand in the U.S., it can be a tough decision to make. Fifty different states represent fifty sets of laws, regulations, and cultural nuances. The Buckeye State’s economic diversity, infrastructure, millennial talent, and Midwestern work ethic are reasons Ohio often rises to the top of any company’s site selection short-list.
Ohio is a hidden gem, but already known to many sophisticated decision-makers, as evidenced by over 3,800 international establishments, owned by more than 1,000 foreign companies from 47 countries.
Home to the 5th largest concentration of Fortune 500 and Fortune 1000 companies, Ohio presents an opportunity to find customers, partners, and suppliers – all in one place. Companies like Procter & Gamble, Cardinal Health, Marathon Petroleum, Progressive Insurance and others contribute to the thriving business ecosystem. And the renowned Midwestern hospitality contributes to a collaborative environment, while a lack of a state corporate income tax facilitates maximizing shareholder value.
The United Kingdom is the second largest investor country in Ohio, ranked only behind Japan.
In Ohio, there are 379 U.K. establishments employing over 31,250 individuals – numbers that continue to grow. In recent years, Ohio has seen a number of notable investments from U.K. companies such as:
- In 2015, Barclaycard, the payments business of Barclays in the U.S., announced that it will open a customer contact center creating 1,500 jobs;
- In 2015, Scotland-based BrewDog chose central Ohio for its U.S. headquarters and a new brewery, where the company will create more than 100 jobs; and,
- In 2016, Alexander Mann Solutions, a leading provider of talent acquisition and management services, announced its continued expansion in Cleveland (having grown from 20 employees in 2012 to nearly 100 currently).
Other U.K. corporate leaders operating in Ohio include Signet Jewelers, Reed Elsevier (LexisNexis), FirstGroup and Dunnhumby, among others. The state also has an emerging FinTech cluster that is expanding quickly, given a growing pool of millennials and an ecosystem that gives financial services companies strategic and cost advantages.