Monday, December 23, 2019

Press Release: Buckeye Institute

The Buckeye Institute Releases Economic
Freedom of North America 2019

Ohio Ranks 37th Among the 50 States in Economic Freedom

Columbus, OH -- Ohio ranks an unimpressive 37th out of all 50 states in this year's Economic Freedom of North America report, released by the Economic Research Center at The Buckeye Institute in partnership with Canada's Fraser Institute. The report ranks every state and province in North America based on economic freedom, as measured by government spending, taxation, and labor market restrictions.

"Ohio still falls well below the national average in providing a competitive, economically free environment for its citizens and businesses to build economic prosperity. The results of which we see in Ohio's slower economic growth and higher unemployment," said Andrew J. Kidd, Ph.D., an economist with The Buckeye Institute's Economic Research Center. "To have a real impact on Ohio's economy, which will improve the state's ranking, policymakers need to reign in government spending, reduce needless regulations, and simplify Ohio's tax structure."

The latest edition of the report uses a revised methodology to score states on their government spending, taxation, and labor market restrictions. The current rankings are based on data from 2017 (the latest year data was available). Ohio ranks 37th among the 50 states in overall economic freedom with a score of 5.6, up only one spot from last year's rankings. Ohio's Ranking in Key Areas
  • Government Spending - 42nd
  • Transfers and subsidies as a percent of personal income - 27th
  • Insurance and retirement payments as a percent of personal income - 49th
  • Taxes - 31st
  • Income and payroll tax revenue as a percent of personal income - 26th
  • Top marginal income tax rate and the income threshold at which it applies - 11th
  • Property tax and other tax revenue as a percent of personal income - 22nd
  • Sales tax revenue as a percent of personal income - 40th
  • Labor Market Freedom - 32nd
  • Minimum wage income as a percent of per capita personal income - 31st
  • Government employees as a percent of total employees - 16th.  Included in the report is Buckeye's Ohio Economic Freedom Fact Sheet, which summarizes where Ohio ranks in various economic freedom policies and shows how it compares to neighboring states and the nation as a whole.

The Fraser Institute has measured economic freedom in every state and province in the United States, Canada, and Mexico for 15 years, creating a comprehensive assessment of trends in economic freedom. The Buckeye Institute and its Economic Research Center co-published the report for the fifth year in a row.

The Fraser Institute and The Buckeye Institute are independent think tanks that research and advocate for free-market economic policies. The Buckeye Institute's Economic Research Center specializes in data analysis of state-level economic policies.

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Founded in 1989, The Buckeye Institute is an independent research and educational institution -- a think tank -- whose mission is to advance free-market public policy in the states.

The Buckeye Institute is a non-partisan, non-profit, and tax-exempt organization, as defined by section 501(c)(3) of the Internal Revenue code. As such, it relies on support from individuals, corporations, and foundations that share a commitment to individual liberty, free enterprise, personal responsibility, and limited government. The Buckeye Institute does not seek or accept government funding.

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