Ohio has long been recognized for its thriving metropolitan centers, particularly the “Three C’s”(Cincinnati, Cleveland, and Columbus). These cities have been Ohio’s economic powerhouses, but recent trends suggest that Ohio’s growth story is shifting. Economic development efforts are driving new opportunities across the state, with industries outside the Three C’s taking center stage in ways that are fueling the state’s broader economic expansion.

During the OSDC Means Business Series, Chris Magill of Vista Site Selection, and OSDC’s Board President, outlined where growth is happening in Ohio, and how those economic trends can reveal new growth opportunities for small businesses.

Emerging Economic Opportunities Beyond the Three C’s

While the Three C’s remain crucial to Ohio’s economy, regions outside these major cities are experiencing rapid economic development. The rise of key industries such as aviation and aerospace, food manufacturing, battery production, and semiconductors is contributing to the creation of new jobs, businesses, and significant economic spinoffs. These sectors not only provide immediate opportunities but also create long-term benefits for Ohio’s economy.

Key Growth Industries

1. Aviation and Aerospace
   Ohio has become a key player in the aviation and aerospace sector. Home to major aerospace companies and a workforce skilled in engineering and manufacturing, the state is positioning itself as a national leader in this high-tech industry. This growth is expected to spill over into the surrounding regions, creating jobs in research, design, production, and support services.
2. Food Manufacturing
   Ohio has a long history of food manufacturing, and it continues to be a major driver of economic growth. This sector has expanded across the state, with food production and processing facilities popping up in smaller cities and rural areas, bringing new job opportunities and driving demand for local agriculture.
3. Battery Production
   Ohio is emerging as a major hub for battery production. Several companies have invested heavily in battery plants, particularly in the southeastern and central parts of the state. This sector is poised for further growth, creating thousands of high-paying jobs and new opportunities in manufacturing and technology.
4. Semiconductors
   Ohio is also seeing an increase in investment in semiconductor manufacturing, which has the potential to transform the state’s economy. The production of microchips is crucial for everything from electronics to automobiles, and Ohio is poised to become a key player in this growing global market. The expected development of semiconductor factories in suburban areas will have ripple effects on surrounding industries, further boosting Ohio’s economy.

Geographically-Driven Growth

In terms of geographic growth, several areas of Ohio are experiencing significant economic development. Areas such as Franklin County, Pickaway County, and the Cincinnati and Cleveland suburbs are seeing the strongest expansion. These counties are benefiting from a combination of recent growth trends and new projects that will continue to drive prosperity in the coming years. 

• Franklin County, home to the state capital, Columbus, remains a focal point for innovation, particularly in the tech sector. The city’s growing role in the technology and healthcare industries will fuel further investment in surrounding areas. 

• Pickaway County has witnessed rapid growth, driven in part by its proximity to Columbus and its burgeoning logistics and manufacturing sectors. 

• The suburbs of Cincinnati and Cleveland are thriving, with major development projects, including distribution hubs, retail, and mixed-use properties, injecting vitality into these regions. 

• Montgomery County, home to Dayton, is seeing growth thanks to its status as an aerospace and manufacturing hub, while Lucas County (Toledo) is expanding in the automotive and manufacturing sectors. 

• Wood County, located in northwest Ohio, is another area to watch, as it benefits from the proximity to Michigan and is experiencing steady growth in industries such as agriculture and logistics. 

Small Business Growth 

Amidst the rise of larger industries, small businesses are also thriving, particularly in the food services, entertainment, family care, and recreation sectors. These businesses are outpacing other industries in Ohio, with small businesses in local markets driving job creation and local economic development. 

Ohio’s diverse regions are seeing an increase in family-owned restaurants, entertainment venues, and recreational facilities, all of which contribute to the state’s economic vitality. These businesses not only provide goods and services to local communities but also foster a sense of connection and economic resilience. 

Based on recent economic development investments, several regions in Ohio are anticipating significant growth in demand for key small business service sectors, such as medical offices, restaurants, and retail establishments. For instance, to keep up with projected demand, the Cleveland area will need to add 22% more medical offices, the Appalachian region will require a 72% increase in retail establishments, and Dayton will need to expand its commercial businesses by 26%. These economic trends provide valuable insights for small businesses, helping them make informed decisions about where to focus their efforts and align with future customer demand. 

Conclusion 

Economic growth in Ohio is shifting beyond the traditional Three C’s, with emerging industries and regions driving the state’s economic evolution. Sectors such as aviation, food manufacturing, battery production, and semiconductors are fueling diversification and opening new opportunities across the state. Ohio’s future remains promising for both regional economies and small businesses. By leveraging data-driven economic projections, businesses statewide can tap into Ohio’s distinctive strengths and position themselves for continued success across a variety of industries and locations. 

Download Chris Magill’s Presentation: https://osdc.net/wp-content/uploads/2025/03/OSDC-Vista-Site-Selection.pdf 

Learn More about Vista Site Selection: https://www.vistasiteselection.com/