Ohio and Pennsylvania to have a lot in common. They’re both Midwestern states with a strong manufacturing presence. They’re both home to large cities (Cleveland and Pittsburgh, respectively) and have a similar cost of living. However, there is one big difference between the two states when it comes to business:
Pennsylvania is consistently ranked as one of the best states for business, while Ohio is not.
So, what can we learn from our neighbors to the west? Here’s what some Ohio business leaders had to say.
1. Invest in Education and Workforce Development
One of the most important things that Pennsylvania has done to support businesses is invest in education and workforce development said TimkenSteel CEO Ward Jenereski.
By investing in programs that train workers for jobs in high-demand industries, the state is ensuring that there is a talented and qualified workforce available to meet the needs of businesses.
2. Promote Collaboration between Businesses and Universities
Another way that Pennsylvania has supported businesses is by promoting collaboration between businesses and universities, said PNC Bank CEO William Demchak. This collaboration has led to the creation of research centers, incubators, and accelerators that help businesses access the resources they need to grow and succeed.
3. Create an Attractive Business Climate
Finally, Pennsylvania has worked to create an attractive business climate, said JobsOhio President J.P Nauseef. The state offers a variety of incentives—including tax breaks, loans, and grants—to businesses that locate or expand there. These incentives make Pennsylvania an appealing place for businesses to invest their money and create jobs.
While Ohio and Pennsylvania have a lot in common, there is one big difference between the two states when it comes to business: Pennsylvania is consistently ranked as one of the best states for business, while Ohio is not. However, there are things that we can learn from our neighbors in the west. By investing in education and workforce development, promoting collaboration between businesses and universities, and creating an attractive business climate, Pennsylvania has been able to attract businesses and create jobs. If Ohio wants to improve its business climate, it should take a page out of Pennsylvania’s playbook.