The new Midwest.America's central states emphasize lower taxes and good quality of life Illinois Located in the heart of the Midwest and the country's transportation and communication systems, Illinois is at the center of the nation's industrial region. In 1988, more than 18,000 manufacturing companies operated throughout the state -- generating a gross output of almost $48 billion. The state ranks first in the country in production of appliances, railroad and communications equipment, radios and televisions, and canned and frozen foods. It is a leader in producing steel, heavy machinery and glass products. Two-thirds of all the goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. produced nationwide are produced within 500 miles of Illinois' borders. This market proximity allows industry to ship or receive finished goods, semifinished sem·i·fin·ished adj. 1. Made, treated, or sold to be used in a finished product: semifinished steel. 2. Partially finished: a semifinished basement. products or resources without incurring high transport costs or time delays. Nearly a third of the total gross national product is produced within a 300-mile radius of Chicago. With everything from bolts to bulldozers manufactured in Illinois, the state can supply almost any sub-assembly or finished product needed. The strength of the marketplace is reflected in a sales and marketing management survey of industrial purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. , which lists Cook County as No. 2 in the nation in terms of value of manufacturing shipments. Illinois ranks fifth among all states -- third among the Great Lake states -- in value of manufacturing shipments. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the latest Census of Manufacturers, Illinois manufacturers purchased $64.7 billion worth of materials; 5.3 percent of all such purchases nationwide. Manufacturers in Illinois and six neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. states accounted for 24.4 percent of all such purchases nationwide. Illinois is also at the center of one of the most dynamic retail markets in the country. It ranks sixth among the states in percent of national retail sales (4.6 percent). Chicago, where 2.6 percent of all retail sales occur, is the third ranking Metropolitan Statistical Area in the category. Illinois offers many other attractions for a business planning to relocate, including a computerized site location system that can search out specific data to fill the needs of any company wanting to expand or start a business in the state. Illinois Avg. Annual Wage: $24,211 Labor Force: 6 million Employment: 5.61 million Unemployment: 7.8% Workers Comp Premium: 1.1% of payroll Corporate Income Tax: 4% Sales Tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. : 6.25% state; 0 to 1.75% local Median Home Price: $93,500 Population: 11.6 million Personal Income (1988): $243 billion Per capita income Noun 1. per capita income - the total national income divided by the number of people in the nation income - the financial gain (earned or unearned) accruing over a given period of time (1988): $17,575 Major Industries: Primary and secondary metals, industrial and farm equipment, electrical equipment A piece of electrical equipment is a machine, powered by electricity and usually consists of an enclosure, a variety of electrical components and often a power switch. Examples of Electrical Equipment
Development Incentives: Enterprise zones, state and local financing programs, numerous tax incentives and exemptions, industrial job training programs. Indiana Indiana offers one of the most receptive environments in the country for new industry, ranking 10th in the nation in industrial output and eighth in agricultural production -- even though it is only 38th in size. Manufacturing in the state's 8,600 plants accounts for more than 30 percent of all jobs in Indiana, which ranks second among major industrial states in new capital expenditures per production workers. The state's high tech industries are on the increase, and it has become a leader in the production of electrical switching and relay equipment, scientific instruments, environmental control instruments and many other related products. The state welcomes new small businesses and operates the Indiana Small Business Development Corp., one of only a few such programs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . All state-funded small business development programs are coordinated by a single entity, with the goal of linking prospective entrepreneurs with management, technical and financial resources. Indiana also has excellent access to international markets through its ports in the north and south of the state. Burns International Harbor, the only deep sea port built specifically for the St. Lawrence Seaway Noun 1. St. Lawrence Seaway - a seaway involving the Saint Lawrence River and the Great Lakes that was developed jointly by Canada and the United States; oceangoing ships can travel as far west as Lake Superior Saint Lawrence Seaway traffic, is in northern Indiana Northern Indiana is the region of Indiana including 26 counties bordering parts of Illinois, Michigan, and Ohio. The area is generally sub-classified into other regions. The northwest is economically and culturally intertwined with Chicago, and is considered part of the Chicago on Lake Michigan. The state's other two ports are on the Ohio river Ohio River Major river, eastern central U.S. Formed by the confluence of the Allegheny and Monongahela rivers, it flows northwest out of Pennsylvania, and west and southwest to form the state boundaries of Ohio–West Virginia, Ohio-Kentucky, Indiana-Kentucky, and in southern Indiana Southern Indiana, in the United States, is notable because it is culturally distinct from the rest of the state. The area's geography has led to a blend of Northern and Southern culture that is not found in the rest of Indiana. . Indiana also has one of the highest concentrations of rail routes in the country, with 4,500 miles of track. The state's cost advantages for commercial and industrial residents are also substantial. These include inexpensive industrial sites, reasonable income and property taxes, and low energy costs because of the state's abundant energy supplies. More than 67 universities, colleges and technical schools add to the appeal, providing for a highly trained work force. Yet another attraction is the quality of life in Indiana, which abounds with lakes, rivers, reservoirs, and state and national forests. The air is clean, the traffic is uncongested, and cost-of living levels are lower than in most of the country. Indiana Avg. Annual Wage: $20,931 Labor Force: 2.8 mil An Internet address domain name for a military agency. See Internet address. (networking) mil - The top-level domain for entities affiliated with US armed forces. . Employment: 2.3 million Unemployment: 4.7% Workers Comp Premium: 1.55% of payroll Corp. Income Tax: to 3.4% Sales Tax: 5% Median Home Price: $73,200(1) Population: 5.6 million Personal Income (1988): 82.07 billion Per capital income (1988): $16,005 Major Industries: Steel, automotive products, plastics, electronic components, pharmaceuticals, medical instruments, publishing. Development Incentives: Industrial revenue bonds, small business loans, venture capital network, international trade assistance, foreign trade zones, other training and finance programs. 1. Indianapolis Iowa Iowa offers a host of reasons that make it a good choice for a business start or relocation, ranging from its tradition of rich industrial and agricultural production to its pro-business tax policies and central location. Chief among the state's attributes, however, is its highly educated and productive work force. Iowa ranks among the top five states nationally with a high school graduation rate of 88 percent, and its students' scores rank No. 1 in the country on college entrance examinations. The state provides screening, assessment and testing services to help companies select the right workers, plus training reimbursements that save valuable time and money. These factors help account for a strong work ethic work ethic n. A set of values based on the moral virtues of hard work and diligence. work ethic Noun a belief in the moral value of work in Iowa, where manufacturers see a return of $5.05 for every dollar invested. The state's work force is 20 percent more productive than the national average, and low absenteeism ab·sen·tee·ism n. 1. Habitual failure to appear, especially for work or other regular duty. 2. The rate of occurrence of habitual absence from work or duty. means profitability and peace of mind for employers. State lawmakers continue to create a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. climate for business, and Iowa is one of only a few states that offer a single factor, non-unitary corporate income tax. That means no state income tax on profits from sales outside the state. Iowa also has eliminated commercial personal property tax, as well as the sales and use taxes Sales and use tax refers to:
Surprising to some, Iowa also has "coastlines" along its eastern and western borders that supply an added dimension to shipping and transportation requirements for businesses. The Mississippi and Missouri rivers Missouri River River, central U.S. The longest tributary of the Mississippi River, it rises in the Rocky Mountains of southwestern Montana. It flows east to central North Dakota and south across South Dakota, forming sections of the South Dakota–Nebraska boundary, the carry fleets of barges to the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , annually transporting $5 billion worth of export cargo from inland U.S. ports. The state's location as the geographic center of the nation, of course, cuts in half the travel and transport times to the coasts. Iowa also boasts one of the safest environments and best quality-of-life packages of any state. Violent crime is 65 percent lower in Iowa than the national average. Clear air and clean water enhance the natural beauty of the cities and countryside, and the state's lower property taxes are an additional advantage when combined with home prices generally 25 to 50 percent more affordable than in comparable markets. Iowa Avg. Annual Wage: $18,420 Labor Force: 1.5 mil. Employment: 1.2 million Unemployment: 4.3% Workers Comp Premium: 1.21% of payroll Corp. Income Tax: 6-12% Sales Tax: 4% Median Home Price: $62,300(1) Population: 2.84 million Personal Income (1988): $41.8 billion Per capita income (1988): $15,524 Major Industries: Tires, farm machinery, electronics products, appliances, office furniture, chemicals, fertilizers, agricultural products, auto accessories. Development Incentives: New jobs tax credit, 50 percent deductibility of federal taxes, corporate tax reduction for job creation, no sales tax on machinery, industrial development revenue bonds, small business loans, rural economic development financing, numerous other programs providing financing, tax credits and job training. 1. Des Moines Des Moines, city, United States Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc. Kansas Since the early 1950s, Kansas' economic base has broadened from agriculture and mining to include manufacturing of virtually every sort and all the service industries which constitute the most rapidly growing segment of the national economy. As a result, the state has enjoyed substantial growth in the number of jobs in these non-traditional industries. Today, wholesale and retail trade, services, government and manufacturing employ more residents than any other sector of the state's economy. The strong work ethic in Kansas is reflected in the fact that firms coming to the state are seldom limited to a work force living within a few miles of the plant or office. Most firms can easily expect to attract job applicants from a minimum of a 25-mile radius, and many firms regularly attract workers from 60 miles away. Another advantage is the abundant work force. Most new manufacturing and distribution facilities have registered an interview-to-hire ratio of 3 to 1, which is a pleasant surprise for companies accustomed to finding few skilled job applicants in other parts of the nation. As the center of the U.S. population continues to move westward each year, Kansas' strategic position is enhanced. The state's location makes shipment of goods less costly, an advantage with a significant impact on profitability for companies with large movements of raw materials and finished goods. Consequently, many production facilities, warehouses and distribution centers have chosen Kansas locations. Energy is ample and inexpensive in the state, which in 1989 ranked sixth in natural gas production. The state's natural gas production currently exceeds consumption by 58 percent, thanks in part to the Hugoton gas field, one of the world's largest. The state's location near western coal fields The Western Coal Fields of Kentucky compose an area in the west-central part of the state, bounded by the Dripping Springs Escarpment. This area is bordered on three sides by the Pennyroyal Plateau and to the north by the Ohio River. also facilitates the delivery of necessary low-sulfur coal. Quality of life in Kansas is among the finest in the nation, with rolling, open countryside where the sun shines almost seven days in 10. Prevailing westerly Noun 1. prevailing westerly - the winds from the west that occur in the temperate zones of the Earth westerly west wind, wester - wind that blows from west to east weather patterns maintain a perpetual stream of fresh, clean air to the region, which also boasts 140,000 surface acres of lakes and reservoirs. In 1990, the state's crime rate was 627 fewer major crimes per 100,000 population than the national average. Kansas Avg. Annual Wage: $19,474 Labor Force: 1.3 million Employment: 1.24 million Unemployment: 4.4% Workers Comp Premium: 1.03% of payroll Corp. Income Tax: 4.5%(1) Sales Tax: 4.25% Median Home Price: $69,800(2) Population: 2.4 million Personal Income (1988): 45.04 billion Per capita income (1988): $17,614 Major Industries: Agriculture, mining, transportation equipment, electrical machinery, metal fabricating, food products manufacturing. Development Incentives: Tax credit on income generated by new businesses, enterprise zones, tax credits for research and development and child daycare, industrial revenue bonds, venture capital tax credits, foreign trade zones. 1. 2.25% surtax An additional charge on an item that is already taxed. A surtax is a tax on a tax. For example, if a person pays one hundred dollars of tax on one thousand dollars of income, a 5 percent surtax would amount to an additional five dollars. on income over $25,000 2. In Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). Kentucky Kentucky is located in the center of the eastern U.S. industrial and consumer markets, within 600 miles of about 68 percent of the population and 73 percent of all manufacturing production in the United States. Regional markets are also easily served from Kentucky's strategic location, midway between the large midwestern and growing southeastern markets. A third strong market advantage is the state's location in the center of the new U.S. "auto alley," with major production facilities for automobiles, trucks and automotive components. Recent growth in automotive production facilities in Kentucky, Tennessee, Ohio, Indiana and Illinois has created opportunities for component suppliers to serve this massive new market centrally from facilities in Kentucky. Domestic and foreign manufacturers have built about 60 advanced technology production facilities in Kentucky during the last three years, investing in excess of $1.2 billion. The state's labor force exhibits a strong desire to work. Absenteeism and turnover rates in manufacturing plants typically run below the national averages for similar operations. Kentucky's workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. insurance system was completely overhauled by special legislation in 1987. Current laws restrict benefits, emphasize employee rehabilitation rehabilitation: see physical therapy. and foster cost reductions for employers. The special fund assessment for second injury and occupational diseases has been reduced for non-coal employers by about 20 percent in recent months. In addition, job growth and business expansions have kept the balance in Kentucky's state unemployment trust fund at a high level. Employer contributions to the fund were at their lowest statutory levels in 1991. Kentucky Avg. Annual Wage: $19,001 Labor Force: 1.76 mil. Employment: 1.66 million Unemployment: 5.8% Workers Comp Premium: 1.62% of payroll Corp. Income Tax: 4-8% Sales Tax: 6% Median Home Price: $59,300(1) Population: 3.68 million Personal Income (1988): 55.2 billion Per capita income (1988): $15,001 Major Industries: Steel, aluminum, chemicals, coal, heavy machinery, automobiles, and automobile components. Development Incentives: Property and state income tax exemptions tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various for heavy machinery, enterprise zones, city and county industrial revenue bonds, small business loans, state venture capital fund loans, state bond financing of manufacturing facilities. 1. Louisville Minnesota Minnesota offers countless incentives for new and expanding businesses, and the state's Department of Trade and Economic Development provides a quick overview of the advantages of a Minnesota location in the department's publication, "Five Good Reasons For Doing Business in Minnesota." These include a competitive tax structure, nationally competitive wages, a moderate cost of living, low operating costs operating costs npl → gastos mpl operacionales and a well-connected, convenient transportation system. In 1989, individual tax per $1,000 of personal income declined 10 percent from 1988 and 24 percent from its 1984 high. In addition, purchases of capital equipment for new or expanding manufacturing firms are eligible for a full refund of the 6 percent sales tax. Minnesota's average wage per employee was approximately 2 percent lower than the national average in 1989. Meanwhile, wages in agriculture, manufacturing, transportation, public utilities and wholesale trade industries were within 10 percent of the national averages. Low cost of living and low operating costs provide twin, complementary advantages in Minnesota. Minneapolis St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery has the fourth lowest cost of living of the 20 largest metropolitan areas in the United States, according to the American Chamber of Commerce Research Association. Electricity rates for commercial and industrial users in Minnesota are 21 percent below the national average, only 4.61 cents per kilowatt hour Kil´o`watt` hour 1. (Elec.) A unit of work or energy equal to that done by one kilowatt acting for one hour; - approximately equal to 1.34 horse-power hour. Noun 1. . Only six states have lower electricity charges for commercial and industrial users, and five of those are in the mountainous moun·tain·ous adj. 1. Having many mountains. 2. Resembling a mountain in size; huge: mountainous waves. mountainous Adjective 1. regions of the country. These advantages have enhanced the state's reputation as a favorable climate for business, with Fortune Magazine in October of 1990 ranking the Twin Cities second in the nation on its list of the top 10 areas for business. Minneapolis/St. Paul ranked among the top 10 places in the nation to locate a business in a survey of corporate executives by Cushman & Wakefield, and World Trade magazine selected Minneapolis and St. Paul as two of the 10 best North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. cities for business. Minneapolis-St. Paul is Paul I, 1754–1801, czar of Russia (1796–1801), son and successor of Catherine II. His mother disliked him intensely and sought on several occasions to change the succession to his disadvantage. home to more of the 200 best small companies in the nation than any other city, according to Forbes Magazine's latest rating, and the state is fifth in the nation in the number of Fortune 500 companies per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. . Minnesota Avg. Annual Wage: $22,155 Labor Force: 2.32 mil. Employment: 2.02 million Unemployment: 4.2% Workers Comp Premium: 1.96% of payroll Corp. Income Tax: 9.8% Sales Tax: 6.5% Median Home Price: $87,000(1) Population: 4.3 million Personal Income (1988): $71.81 billion Per capita income (1988): $17,746 Major Industries: Computers, food products, machinery, printing and publishing, metal fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , paper and allied products, scientific instruments, rubber, plastics, leather, lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to and wood products. Development Incentives: Enterprise zones, small business loans, industrial site selection assistance, economic development grants, export financing for small businesses. 1. Minneapolis Missouri A Missouri location, in the heart of America, holds enormous potential for a company's profit and growth. Although the Northeast has long dominated the nation's industrial structure, U.S. industry and population are currently shifting southward south·ward adv. & adj. Toward, to, or in the south. n. A southward direction, point, or region. south and westward. Missouri is very near the geographic center of the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. . In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently , it lies perfectly positioned between the established northeastern manufacturing belt The Manufacturing Belt, often referred to as the Rust Belt, is an area in parts of the Midwest and Mid-Atlantic regions of the United States of America. The region can be broadly defined as the region beginning west of the BosWash corridor and running west to eastern and the growing southern and western areas of the country. Whether a company markets industrial products, retail goods or consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, , it enjoys quick access to a major portion of its market area from Missouri. With the state's full range of transportation services, both national and international markets can be reached effectively. Located on the Missouri and Mississippi rivers Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. , with two of the largest railroad car interchange centers, two international airports, 145 other public airports and 10 interstate highways Primary interstates are the major interstate highways of the United States and are assigned a one or two-digit route number. Even route numbers are assigned to east/west routes, with the lower numbered routes being further south (I-10) and higher numbered routes in the , the state is well suited to business and industry. In keeping with national economic trends, services is the largest nonagricultural sector in the state. The service sector employs 577,300 workers, followed by wholesale and retail trade with 560,900; manufacturing with 437,000; and government with 368,300. This strong economy combines with a lower-than-average cost of living throughout the state. In a recent study of cities across the nation, for example, all of Missouri's reporting metropolitan areas registered an all-items cost-of-living index cost-of-living index n. See consumer price index. Noun 1. cost-of-living index - an index of the cost of all goods and services to a typical consumer consumer price index, CPI below the average U.S. city index. The availability of financing incentives is another important appeal of Missouri, which offers a variety of methods of issuing low-cost, tax-exempt bonds Tax-exempt bond A bond usually issued by municipal, county, or state governments whose interest payments are not subject to federal and, in some cases, state and local income tax. tax-exempt bond See municipal bond. for private purposes such as industrial development. The proceeds of an industrial development bond issue may be used to finance up to 100 percent of the cost of fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → such as land, buildings, machinery and equipment. The primary incentive for a company to use industrial development bonds is that the funds may be obtained at lower interest rates than conventional financing. Because the interest paid to bondholders is exempt from federal and Missouri income taxes, industrial development bonds offer a lower rate of interest to the borrower. Additionally, Missouri's tax structure offers corporations one of the most favorable situations in the nation. Yet the Missouri government maintains a high level of services, and deficit spending Deficit spending When government spending overwhelms government revenue resulting in government borrowing. deficit spending Expenditures that are in excess of revenues during a given period of time. is prohibited by the state constitution. In most cases, a company located in Missouri will have a lower corporate tax bill than in other states. Furthermore, an individual taxpayer in Missouri pays 20 percent less in per capita taxes than the average taxpayer in the United States. Only 12 states have a lower per capita tax liability. Missouri Avg. Annual Wage: $20,899 Labor Force: 2.63 mil. Employment: 2.34 million Unemployment: 5.7% Workers Comp Premium: 1.1% payroll Corp. Income Tax: 3.3% Sales Tax: 4.22% Median Home Price: $80,000(1) Population: 5 million Personal Income (1988): $89.6 billion Per capita income (1988): $17,472 Major Industries: Wholesale and retail trade and service, transportation equipment, electrical and electronic equipment, food and related products, printing and publishing, chemicals and allied products, metal fabrication, textiles. Development Incentives: Loan guarantees, industrial revenue bonds, public infrastructure grants for business projects, investment and job creation tax credits, enterprise zones, tax credit for venture capital investments, site location assistance, export finance fund. 1. In metropolitan areas. Ohio As the nation's third leading manufacturing site, Ohio offers a diverse blend of industries complemented by a highly-skilled work force trained to keep pace with changing technology. The state provides one of the most productive work forces in the country. The value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. by Ohio workers exceeds $65,000 per employee and worker production is 8 to 10 percent above the national average. Ohio, with more than 5 million workers, created nearly a half million jobs between 1984 and 1988, ranking it first in the Midwest and fifth in the nation in job creation. Ohio's business climate is founded on a reasonable tax structure and affordable wages. In 1989, personal income taxes were 4.3 percent below the national average, moreover, the state was below the national average in corporate income taxes. Ohio ranks 28th in the country in total state and local tax burden. Ohio's geographic accessibility to American and Canadian markets, strong transportation resources and the diversity of its industries contribute to its reputation as a good place to do business. Most companies find that Ohio's central location provides easy access to their customers and suppliers. Many points in Ohio are within 500 miles of 60 percent of American households and 42 percent of Canadian households. Well over half of the nation's income is spent in the area. In 1990, Ohio was home to 37 Fortune 500 companies, ranking the state fourth in the country. The Gross State Product (GSP GSP Good Scientific Practice GSP Generalized System of Preferences GSP Gross State Product GSP German Shorthaired Pointer (dog breed) GSP Geometer's Sketchpad (KTP Technologies geometry software) GSP Georges St. ) exceeds $230 billion, which accounts for 4.1 percent of the nation's Gross Domestic Product. Only 12 nations and seven states have a higher GSP than Ohio. Ohio continues to forge ahead in the number of company expansions. In 1990 alone, the state led the Midwest with nearly 400 companies expanding operations. While the state ranks sixth in the country in the number of new manufacturing facilities and expansions, it ranks first in the Midwest. Moreover, Ohio ranks in the top five in every industrial category including steel, aerospace products, picture tubes, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , rubber and plastic products. The state ranks second in automotive manufacturing and first in the production of trucks. On an annual basis, Ohio ranks second in durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. production. In 1987, durable goods accounted for 67 percent of the state's manufacturing output. The leading manufacturing industries manufacturing industries npl → industrias fpl manufactureras manufacturing industries npl → industries fpl de transformation in terms of output are transportation equipment, industrial machinery and equipment, fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: metal products and chemical and allied products. These industries account for 52 percent of the state's total manufacturing output. Ohio leads the nation in the manufacturing of some 140 different products -- ranking third in total manufacturing employment. Since 1982, Ohio's manufacturing output has increased 46 percent faster than the national average. While domestic companies are looking to Ohio for location and expansion opportunities, many international companies are finding the necessary resources they need in Ohio to enter the U.S. marketplace. Ohio led the region in employment by foreign companies, which exceeds 207,000 employees. The state has attracted investments from nearly 500 foreign companies representing 16 nations. Companies from Japan, Europe, the United Kingdom and Canada have found Ohio to be an excellent location to manufacture their products. Canada is currently Ohio's largest foreign trading partner. Ohio ranks second in the Great Lakes Great Lakes, group of five freshwater lakes, central North America, creating a natural border between the United States and Canada and forming the largest body of freshwater in the world, with a combined surface area of c.95,000 sq mi (246,050 sq km). states in imports from Canada, and exports to Canada represent 50 percent of the state's exports. Ohio is a leading manufacturer of exported goods to 169 foreign counties, ranking third in the nation in the combined value of direct and indirect (parts and supplies) export shipments. The state boasts eight ports on Lake Erie Lake Erie Great Lake; once so polluted, referred to as Lake Eerie. [Am. Hist.: NCE, 887] See : Filth linking to the St. Lawrence Seaway, 125 terminals on the Ohio River linking to the Mississippi and three of the largest air cargo air cargo: see aviation. hubs. Transportation and industrial machinery account for 64 percent of the direct manufacturing See rapid manufacturing. goods. The cost of living reflects housing and utility costs, which enhances most businesses' profit margin. A recent study, conducted by the National Association of Home Builders The National Association of Home Builders (NAHB) is one of the largest trade associations in the United States. Headquartered in Washington, DC, the association organizes one of the largest conventions in North America, The International Builders' Show, which draws more than , shows that five of the 25 most affordable metropolitan housing markets are located in Ohio. The cost of housing in Ohio is 7.3 percent lower than the national average. The median cost of a home is between $70,000 and $80,000. Ohio's investment in education of more than $4.6 billion a year is the fourth highest in the nation. Ohio students continue to surpass the national average on college entrance examinations -- students have consistently been 4 to 5 percent higher than the national average. At least one of 136 colleges and universities is within commuting distance of every Ohioan. Ohio's economic development strategy is founded on providing a blend of financial and technical assistance to make your location and expansion plans work best in Ohio. The state offers a comprehensive array programs to help with building construction and rehabilitation, infrastructure and training cost. Ohio Avg. Annual Wage: $21,986 Labor Force: 5.3 mil. Employment: 4.6 million Unemployment: 5.5% Workers Comp Premium: 2.13% payroll Corp. Income Tax: 5.1%(1) Sales Tax: 5% Median Home Price: $78,000(2) Population: 10.9 million Personal Income (1988): $168.3 billion Per capital income (1988): $16,499 Major Industries: Steel, rubber, plastics, metal fabrication, transportation equipment, industrial machinery, auto manufacturing. Development Incentives: New equipment bond financing, industrial revenue bonds, land and building bond financing, direct state loans, enterprise zones, 100% abatement A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent. With respect to estates, an abatement is a proportional diminution or reduction of the monetary legacies, a disposition of property by will, when of real estate property taxes in community reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. areas. 1. 5.1% on first $25,000; plus 8.9% on net in excess of $25,000 2. Cincinnati Wisconsin Wisconsin provides a favorable business tax climate, a productive labor force, an exceptional educational system, low-cost energy supplies, a central location, four seasons that offer varied recreational opportunities, and natural beauty not found anywhere else. Wisconsin's tax structure enables companies to reduce operating costs. The property tax exemption for machinery and equipment alone reduces tax liability as do the property tax exemptions for pollution control facilities and the exemption for inventories. Corporate taxes are low. In fact, they are dramatically lower than in most Midwestern states and even some of the supposedly "hot" sunbelt states. Personal income taxes were reduced by $171 million in the 1987-1989 biennial biennial, plant requiring two years to complete its life cycle, as distinguished from an annual or a perennial. In the first year a biennial usually produces a rosette of leaves (e.g., the cabbage) and a fleshy root, which acts as a food reserve over the winter. budget. Wisconsin's unemployment and worker's compensation programs are highly favorable to business. Because the state has taken an aggressive stance to balance its Unemployment Compensation Fund, Wisconsin employers have avoided about $1 billion in interest payments and special federal payroll taxes Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. which would otherwise have been levied in the state from 1983 to 1988. Worker's compensation costs are lower than in neighboring states. Wisconsin workers are highly productive. In virtually all industrial sectors, Wisconsin worker's productivity is higher than the national average. Wisconsin's educational system, from kindergarten kindergarten [Ger.,=garden of children], system of preschool education. Friedrich Froebel designed (1837) the kindergarten to provide an educational situation less formal than that of the elementary school but one in which children's creative play instincts would be through the doctoral level, is first in quality. The University of Wisconsin is the only school in the nation to offer a master's degree master's degree n. An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree. Noun 1. in manufacturing systems engineering. Five engineering colleges in Wisconsin graduate some 2,000 engineers annually. The Madison campus also has the finest university-related industrial statistics program in the world. The university has the capability to provide the training in applied statistics that is essential to the quality improvement techniques required in modern manufacturing. The state's Vocational, Technical, and Adult Education (VTAE) System was the first in the nation and regularly is rated first or second in quality. In addition, each of the 16 VTAE districts has the capability to deliver statistical control training, based on the Deming principles of management. Wisconsin's elementary and secondary education is among the very best in the United States. For example, 84 percent of Wisconsin students who start high school, graduate; this compares to the national average of 74 percent. Wisconsin's energy costs are low and are likely to stay that way. The state is home to four of the five AAA-rated utilities in the country. Wisconsin utilities have ample coal and nuclear generating capacity, enough to sustain industrial growth in the state for many years. Wisconsin Avg. Annual Wage: $20,204 Labor Force: 2.6 mil. Employment: 2.1 million Unemployment: 5.3% Workers Comp Premium: 1.34 payroll Corp. Income Tax: 7.9% Sales Tax: 5% Median Home Price: $81,800(1) Population: 4.85 million Personal Income (1988): $85.6 billion Per capita income (1988): 17,500 Major Industries: Food processing, dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl , paper, machinery, tourism, leather, aluminum, iron and steel forging, motorcycles, industrial controls. Development Incentives: Development zone tax credits, technology development fund, small business research financing, small business loans, minority business development fund, research and development tax credits. 1. Milwaukee |
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