IBISWorld Platform
Answer any industry question in minutes with our entire database at your fingertips.
US State economic profile
Ohio - Economic Profile
Statistics, economic information and rankings for the Buckeye State
In 2026, the state of Ohio has a population of 11,971,881, having grown an annualized 0.3% over the five years to 2026, which ranks it 38th out of all 50 US states by growth rate. Ohio's gross state product (GSP) in 2026 reached $737.4b, with growth of 1.3% over the 5 years to 2026. Businesses in Ohio employed a total of 6,352,216 people in 2026, with average annual employment growth over the past five years of 1.3%. The top three sectors by total employment are Manufacturing, Real Estate & Rental & Leasing, Finance & Insurance, while the unemployment rate across the state in 2026 was 5.3%.
Access this data your way
The Ohio economic profile is available in multiple formats to fit seamlessly into your workflow.
State economic profile
Ohio Economic Overview
$737.4b
Gross state product
11,971,881
Population
1,004,716
Businesses
What is Ohio's Gross Domestic Product (GDP)?
In 2026, Ohio's GDP reached $737.4b, representing an increase of 1.3% from 2025. Ohio's GDP has grown at an annualized rate of 1.3% over the five years to 2026. Moreover, Ohio's trailing five-year GDP growth ranks it 46th out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Ohio's GDP, and compare them to the national average, using the chart below.
State economic profile
Ohio Industry Trends
Learn about current trends affecting the most significant industries for Ohio's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 640 industries in Ohio.
What are Ohio's Largest Industries by Revenue?
The largest industries by revenue in Ohio are Property, Casualty and Direct Insurance, Commercial Banking and Hospitals, which generated $88.2b, $70.0b and $63.8b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Property, Casualty and Direct Insurance | $88.2b |
| 2. | Commercial Banking | $70.0b |
| 3. | Hospitals | $63.8b |
| 4. | Drug, Cosmetic & Toiletry Wholesaling | $57.7b |
| 5. | New Car Dealers | $44.6b |
| 6. | Health & Medical Insurance | $39.0b |
| 7. | Automobile & Light Duty Motor Vehicle Manufacturing | $34.1b |
| 8. | Supermarkets & Grocery Stores | $31.3b |
| 9. | Public Schools | $30.3b |
| 10. | Warehouse Clubs & Supercenters | $29.0b |
State economic profile
Top Companies in Ohio
Learn about current trends affecting the top companies in Ohio. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Ohio by Employment
The largest companies by employment in Ohio are Cleveland Clinic Foundation, Amazon.Com, Inc. and Walmart Inc., which employed 58,433, 57,472 and 56,108 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Cleveland Clinic Foundation | 58,433 | 0.9% |
| 2. | Amazon.Com, Inc. | 57,472 | 0.9% |
| 3. | Walmart Inc. | 56,108 | 0.9% |
| 4. | The Kroger Co. | 42,296 | 0.7% |
| 5. | Ohio State University | 37,863 | 0.6% |
| 6. | Ohiohealth Corporation | 35,000 | 0.6% |
| 7. | Wright-Patterson Air Force Base | 33,807 | 0.5% |
| 8. | University Hospitals Health System, Inc. | 31,051 | 0.5% |
| 9. | Bon Secours Mercy Health | 28,285 | 0.4% |
| 10. | Jpmorgan Chase & Co. | 20,228 | 0.3% |
State economic profile
Ohio Sector Statistics
In Ohio, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Ohio's GDP by Sector?
The Manufacturing, Real Estate & Rental & Leasing and Finance & Insurance sectors contributed the most to Ohio's GDP in 2026, representing a combined 40.6% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Manufacturing | 107,107,650,807 | 0.3% | 0.1% |
| Real Estate & Rental & Leasing | 91,518,151,494 | 2.9% | 3.1% |
| Finance & Insurance | 77,111,512,572 | 0.6% | 0.3% |
| Healthcare & Social Assistance | 69,711,018,388 | 3.1% | 3.4% |
| Professional, Scientific & Technical Services | 56,902,530,085 | 6.5% | 6.8% |
| Retail Trade | 49,282,921,881 | 4.2% | 3.4% |
| Wholesale Trade | 37,091,480,080 | -1.6% | -1.9% |
| Management of Companies and Enterprises | 31,386,749,010 | 4.1% | 4.3% |
| Information | 25,813,045,373 | 5.6% | 5.4% |
| Administration, Business Support and Waste Management Services | 24,070,741,847 | 2.1% | 2.2% |
| Construction | 21,395,071,094 | -2.9% | -3.5% |
| Transportation & Warehousing | 20,077,518,036 | -2.2% | -3.3% |
| Accommodation & Food Services | 18,854,454,967 | 3.2% | 2.4% |
| Utilities | 13,750,482,081 | 6.5% | 6.3% |
| Other Services (except Public Administration) | 12,173,690,678 | -2.4% | -2.0% |
| Arts, Entertainment & Recreation | 8,169,436,169 | 6.0% | 6.2% |
| Educational Services | 6,597,778,847 | 3.0% | 3.8% |
| Agriculture, Forestry, Fishing & Hunting | 4,669,367,000 | 0.3% | -0.7% |
| Mining | 3,509,804,061 | -16.8% | -4.9% |
What is Ohio's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Manufacturing sectors contributed the most to employment in Ohio in 2026, representing a combined 39.8% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 1,046,929 | 2.2% | 2.7% |
| Retail Trade | 780,633 | 1.3% | 2.2% |
| Manufacturing | 698,225 | 0.6% | 1.3% |
| Administration, Business Support and Waste Management Services | 520,431 | 1.8% | 1.7% |
| Accommodation & Food Services | 501,114 | -0.2% | 3.0% |
| Transportation & Warehousing | 428,515 | 4.3% | 4.5% |
| Professional, Scientific & Technical Services | 414,506 | 1.9% | 2.5% |
| Educational Services | 385,722 | -0.8% | 0.3% |
| Finance & Insurance | 327,690 | 1.2% | 1.5% |
| Construction | 295,043 | 1.4% | 2.3% |
| Other Services (except Public Administration) | 283,850 | 1.0% | 3.0% |
| Wholesale Trade | 244,801 | 0.9% | 1.4% |
| Real Estate & Rental & Leasing | 152,725 | 1.1% | 1.7% |
| Information | 121,543 | 2.1% | 3.3% |
| Arts, Entertainment & Recreation | 104,654 | 1.3% | 4.7% |
| Utilities | 30,917 | 0.9% | 1.0% |
| Mining | 10,796 | -0.9% | 1.0% |
| Agriculture, Forestry, Fishing & Hunting | 4,122 | 1.0% | 1.6% |
State economic profile
Ohio Employment Trends
6.4m
Employment
5.3%
Unemployment
What Employment Trends are Impacting Ohio?
The state of Ohio employs 6,352,216 people in 2026, which ranks it 7th out of all 50 US states. Employment in Ohio has grown at an annualized rate of 2.2% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in Ohio include Healthcare & Social Assistance, Retail Trade and Manufacturing, which employed 1,046,929, 780,633 and 698,225 people in 2026, respectively. Ohio's unemployment rate is 5.3% in 2026, which ranks it 45th out of all 50 US states. Ohio's unemployment rate has trended upwards at a rate of 0.1% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Ohio, and compare them to the US economy, using the chart below.
$107.9k
Per capita disposable income
What is Ohio's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Ohio's DPI in 2026 was $107.9k, compared to the US average of $156.5k, which places it 47th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Ohio's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Ohio Construction & Building Trends
$39,423.1tn
Nonresidential construction
$9.5tn
Residential construction
36,194
Building permits
What can construction trends tell you about a state’s economy?
In Ohio, non-residential construction was $39,423.1tn in 2026, which ranks it 41st out of all 50 US states. Residential construction was $9.5tn in 2026, which places Ohio 38th out of all 50 US states. The number of building permits issued in Ohio in 2026 was 36,194, representing a 3.2% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Ohio, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Ohio Population Statistics
Which Counties in Ohio have the Largest Populations?
The counties with the highest populations in Ohio are Franklin County, Cuyahoga County and Hamilton County, which had populations of 1,335,605, 1,212,890 and 827,977 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Franklin | 1.3m | 0.2% | 11.2% |
| Cuyahoga | 1.2m | -0.5% | 10.1% |
| Hamilton | 828.0k | N/A | 6.9% |
| Summit | 533.2k | -0.2% | 4.5% |
| Montgomery | 532.0k | -0.1% | 4.4% |
| Lucas | 420.9k | -0.4% | 3.5% |
| Butler | 399.2k | 0.5% | 3.3% |
| Stark | 371.5k | -0.1% | 3.1% |
| Lorain | 323.0k | 0.5% | 2.7% |
| Warren | 260.6k | 1.1% | 2.2% |
| Delaware | 247.9k | 2.3% | 2.1% |
| Lake | 231.1k | -0.1% | 1.9% |
| Mahoning | 223.7k | -0.3% | 1.9% |
| Clermont | 215.3k | 0.5% | 1.8% |
| Trumbull | 199.0k | -0.2% | 1.7% |
| Licking | 187.6k | 0.8% | 1.6% |
| Medina | 185.5k | 0.3% | 1.6% |
| Fairfield | 171.7k | 1.3% | 1.4% |
| Greene | 171.6k | 0.4% | 1.4% |
| Portage | 165.1k | 0.5% | 1.4% |
| Wood | 134.5k | 0.5% | 1.1% |
| Clark | 133.6k | -0.3% | 1.1% |
| Richland | 124.9k | N/A | 1.0% |
| Wayne | 116.5k | N/A | 1.0% |
| Miami | 112.9k | 0.6% | 0.9% |
State economic profile
Ohio Demographics
In Ohio, 33.3% of the population has a Bachelors or higher. The largest ethnic group in Ohio is White, accounting for 75.0% of the state's population.
Education level in Ohio
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 33.3 |
| Other | 66.7 |
Race in Ohio
| Race | Share (%) |
|---|---|
| White | 75.0 |
| Black | 13.2 |
| Hispanic | 5.7 |
| Asian | 3.3 |
| Other | 2.9 |
Ohio State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 640 Ohio industry reports.
Other states to explore
Compare Ohio’s economy with other states in the United States.
Cut through the noise with intelligence you can trust
