The state of Ohio is situated within the Midwestern United States. By area, it is the 34th largest state. With almost 11.5 million people, it is the seventh most densely inhabited state. Columbus is the capital city of Ohio. The word "Ohio" itself, comes from the Iroquois word "ohi-yo," that means "great river."
Originally, the state partitioned from the Northwest Territory. It was admitted to the Union as the original state under the Northwest Ordinance and as the 17th state on March 1, 1803. Historically, the state of Ohio has been referred to as the "Buckeye State," connecting to the buckeye tree. The people who live in Ohio state, at times referred to as Ohioans are likewise called "Buckeyes." According to population density, the state of Ohio ranks 9th amongst the country and consists of seven metropolitan areas with populations of 500,000 or more.
Within the state of Ohio, the government is made up of the executive branch which is led by the Governor; the legislative branch, that comprises the Ohio General Assembly and the judicial branch which is led by the Supreme Court. The state of Ohio has the reputation as both a swing state and a bellwether in national elections. Presently, the state of Ohio occupies eighteen seats in the United States House of Representatives.
As Ohio state is geographically located from the Northeast to the Midwest, there is a large amount of traffic and cargo that pass along its highways through its borders. The location has been useful, enabling economic growth and expansion. The state has the 10th largest highway network within the United States. It is within a one day drive of half of North America's population and 70 percent of North America's manufacturing capacity.
Several seaports can be found to the north, where Lake Erie gives Ohio state 312 miles of coastline. The Ohio River provides the southern border of the state, since the border is at the 1793 low water mark situated on the north side of the river. Another large portion of the northern border is defined by Lake Erie. Indiana borders the state of Ohio to the west, Michigan is situated to the northwest, Kentucky is on the south, Pennsylvania is on the east and Ontario, Canada is found to the north.
The state of Ohio recently ranked fourth, out of all states for the best business climate in the year 2009, according to Site Selection magazine. The numbers were based upon a database of business activity. This magazine has likewise awarded the state of Ohio three consecutive Governor's Cup awards, based upon business growth and developments. Ohio's GDP or Gross Domestic Product as of 2007 was $466 billion, ranking the state as seventh biggest of all of the fifty states and the District of Columbia.
In their Business Tax Index 2009, the Small Business and Entrepreneurship Council ranked Ohio 10th for best business friendly tax systems. This included a top corporate tax and a capital gains rate that were both ranked 6th at 1.9%. Ohio was ranked 11 by the council for best friendly-policy states according to their Small Business Survival Index 2009. The state came in seventh for best litigation climate and the Directorship's Boardroom Guide likewise ranked Ohio third overall for best business climate.
Ohio has five of the top 115 colleges within the USA, based on the U.S. News and World Report's rankings of 2010. The same magazine ranked the state 8 for best high schools during the year 2008. Additionally, Forbes ranked Ohio State 8th for best regulatory environment during the year 2009.
The unemployment rate in the state was 10.7% in the month of May 2010. The rate of employment is expected to grow at least five percent for a net gain of 290,700 jobs, from the year 2006 to 2016. Ohio's per capita income averages $34,874 and as of the year 2007, Ohio's median household income is $46,645. These figures place 13.1% of the population below the poverty line, that is slightly above the national rate of 13%.
Making up 18.3% of Ohio's Gross Domestic Product, is the financial and manufacturing sectors. Ohio is the leader in "green" economy in the United States and the bioscience sector is the largest in the Midwest. In the U.S., the state of Ohio is the biggest producer of fabricated appliances, electrical equipment, metals, rubber and plastic. Now, 5,212,000 Ohioans are employed by wage or salary.
Ohio's largest sector by employment is the utilities/transportation/trade sector. This employs 19.4% of the state's workforce or 1,010,000 Ohioans. The health care and education sector hires 15.8% or 825,000 Ohioans. The Government sector follows hiring 787,000 Ohioans or 15.1%, whilst the manufacturing industry hires 669,000 Ohioans or 12.9%, and technical and professional services employs 638,000 Ohioans 12.2%.
In terms of GDP, the manufacturing sector within the state of Ohio ranks as the 3rd biggest amongst all fifty states. Fifty nine of the States' top 1000 publically traded businesses have their head offices in Ohio, based on 2008 statistics. Amongst these companies consist of: AK Steel, Abercrombie & Fitch, Goodyear Tire & Rubber, Wendy's and Proctor & Gamble and Timken. Ohio state even has its very own lottery, just as 41 other states do. Through the course of its 34 year history, the Ohio Lottery has contributed over $15.5 billion to public education.