State leads Great Lakes regions.
Ohio’s Economy Soared in 2014
Ohio beat Michigan in a battle of the Great Lakes states’ economies in 2014, as the state’s economy grew by 2.1 percent to become a $583 billion enterprise. Michigan’s economy grew by 1.9 percent, according to a new report by the Bureau of Economic Analysis.
All told, the state’s economy still lagged behind the national economy, which expanded by 2.2 percent.
For the state’s small-business owners in the manufacturing, energy and healthcare sectors, there was good news: Those industries saw the largest gains.
Fueled by an energy boom, North Dakota saw the most growth of any state last year. Meanwhile, only two states across the U.S. didn’t see growth, according to the report: Alaska and Mississippi.
Overall, Ohio’s growth ranked No. 18 nationwide.