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In 2010, EPISCENTER, a new R&D center for the corporation to be located in Dayton, was announced by the Third Frontier program.Boeing's Central Ohio Aerospace and Technology Center in Heath is a venture amongst five of the top 10 U. defense contractors, including Atlantic Inertial Systems, Honeywell, Kearfott, Northrop-Grumman, L3 Communications, and Raytheon, which is also the headquarters of the Air Force Metrology and Calibration Program Office.
Dayton is designated as the state's aerospace hub due to its high concentration of aerospace and aviation technology.In 2013, Ohio was ranked in the top ten states for best business climate by Site Selection magazine, based on a business-activity database. exports in 2009, with top destinations being Canada at $14.2 billion, followed by Mexico, China, United Kingdom, Greece, Brazil, Japan, Germany, France, and Australia.The state was edged out by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development. As of 2010, Ohio was #6 in the country for Fortune 500 companies with 23.The Air Force estimates that Wright-Patterson’s annual economic impact on the Dayton region is $5.1 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.
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.
A new report by the Quantitative Economics and Statistics Practices (QUEST) of Ernst & Young in conjunction with the Council On State Taxation (COST), ranks Ohio as third in the nation for friendliest tax environment.
The study, "Competitiveness of state and local business taxes on new investment," provides a state-by-state comparison of tax liabilities.
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.