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NEWS

Ohio has one of the worst economies in the US, according to recent study

Columbus Dispatch

Ohio's economy ranks as one of the worst state economies in the United States.

Ohio ranks No. 42 in the country, making it the 10th worst state economy in the country, according to a ٳܻ.

The economic growth of the US depends heavily on the undertaking of individual states. So, why did Ohio's economy fare so poorly? Let's take a look.

Why does Ohio rate as one of the worst economies in the United States?

WalletHub examined all 50 states plus Washington, D.C., and compared to determine its rankings. The site looked at three key dimensions — economic activity, economic health, and innovation potential — across 28 different metrics to determine where each state was classified.

Ohio ranked No. 42 in the country, making it a bottom-10 economy in the U.S.

The Buckeye State ranked No. 44 for its economic activity but fared slightly better for economic health (No. 39) and innovation potential (No. 33).

What WalletHub missed about Ohio's economic health

WalletHub saddles Ohio with a bottom-10 economy, but a closer look reveals several signs for optimism.

Despite the WalletHub study, Ohio also rates as a great place to start a small business and also has several companies on the Fortune 500 list.

Additionally, multinational businesses such as Intel,Honda,Google,AmazonԻother big companies have started construction on multibillion-dollar projects in the state that could lead to thousands of new well-paying jobs.

Ohio's business economy:Huntington jumps 91 spots on Fortune 500 list to No. 375; Cardinal still Ohio's biggest

Rankings in the Midwest: How Indiana, Kentucky, Michigan fared

Michigan earned the highest ranking for the Midwest, earning the 19th-best economy, while Pennsylvania (No. 34), Indiana (No. 38), Illinois (No. 39) and Wisconsin (No. 40) finished just ahead of Ohio.

Kentucky fared worse than Ohio in the WalletHub rankings, finishing at No. 46 and having one of the worst scores for innovation potential (also No. 46).

Top 5 best economies and top five worst economies

Best individual state economies in the US

  1. Washington
  2. Utah
  3. Massachusetts
  4. Texas
  5. California

Worst individual state economies in the US

  1. Ѿ辱
  2. Hawaii
  3. West Virginia
  4. Arkansas
  5. Louisiana