Site Selection magazine ranks Ohio 2nd in capital investment

For a project, like this one at the Toledo Jeep plant, to qualify for the rankings, it must have an investment of at least $1 million, create 50 or more jobs, or contain 20,000 square feet of new development space.

Ohio finished second in the latest rankings by Site Selection magazine of states with the most capital investment projects last year.

The 2012 rankings, announced Friday, were headed by Texas, which had 761 qualified capital investment projects last year, compared to Ohio with 491 — seven fewer projects than in 2011. Site Selection annually awards a “Governor’s Cup” trophy to the state that heads the list.

For a project to qualify for the rankings, it must have an investment of at least $1 million, create 50 or more jobs, or contain 20,000 square feet of new development space. The magazine does not count equipment upgrades or additions, or construction jobs in its final numbers.

Ohio finished atop the rankings in 2011, just ahead of Texas. And in 2010, it was the Lone Star state beating out the Buckeye state for the title. Ohio had led the rankings from 2006 through 2009.

Michigan finished fourth in the 2012 rankings with 337 capital investment projects.

In its regional rankings, Site Selection had Ohio first in its East North Central region, followed by Michigan, Illinois, Indiana, and Wisconsin. Ohio’s 491 projects last year contributed to a three-year total of 1,365 investment projects, by far the most of any Great Lakes state. Michigan was second with 635 projects from 2010-2012.

The 491 investment projects that Ohio had in 2012 included 59 new manufacturing projects, 208 expansions of existing manufacturing facilities, and 224 “other” projects. Michigan had 90 new manufacturing projects, 160 expansions of existing manufacturing facilities, and 87 “other” projects.

Site Selection also does a ranking of metropolitan areas that it plans to release next week. In 2011, Toledo tied for seventh place for new and expanded facilities among cities with populations of 200,000 to 1 million.

News outlets in Dayton reported this week that the city finished first in the 2012 rankings.

Contact Jon Chavez at: jchavez@theblade.com or 419-724-6128.