Ohio tops CNBC business ranking in 2026 on infrastructure and low operating costs

Traders Union
All News
Financial News
Ohio tops CNBC ranking 2026

Highlights

Ohio tops CNBC's 2026 Top States for Business with 1,623 out of 2,500 points, driven by top infrastructure and cost of doing business rankings.
Data center growth accelerates with 224 active sites and a planned 10-gigawatt, $4.2 billion SoftBank/AEP facility, but faces community backlash and a temporary sales tax break freeze.
Labor shortages persist, with Ohio ranking 23rd in education and 35th in workforce, prompting JobsOhio to announce a $300 million, 10-year skilled worker investment.

Ranking drivers and development pipeline

As reported by CNBC, Ohio leads the network's 2026 Top States for Business study with 1,623 points out of a possible 2,500, marking the state's first No. 1 finish after placing 30th in the inaugural 2007 ranking and breaking into the top five last year.

The state ranks first in infrastructure, the heaviest-weighted category in this year's methodology. More than 143 million people live within a day's drive of Ohio, giving companies broad access to markets, while a site-readiness program backed by $175 million last year helps connect businesses with development locations prepared for immediate construction.

Ohio also ranks first in cost of doing business, supported by relatively low office and industrial rents, moderate insurance and utility expenses, and more than $1 billion in tax breaks granted in the last fiscal year, according to state financial disclosures. The state also places in the top 10 for economy, technology and innovation, access to capital, and cost of living.

Data center growth is a major part of Ohio's investment story. The state already has 224 data centers, according to Data Center Map, and a 10-gigawatt, $4.2 billion facility announced in March by SoftBank and AEP is planned for Pike County on a federally owned site east of Cincinnati.

Political pressure and labor gaps

That expansion is also fueling political and community scrutiny. A grassroots campaign seeking a constitutional ban on future large projects says it has gathered 100,000 signatures in hopes of placing the measure on next year's ballot, and in May Gov. Mike DeWine ordered a temporary freeze on the state's 100% sales tax break for data center developers.

The issue is shaping the race to succeed DeWine, who cannot run again because of term limits. Democratic nominee Dr. Amy Acton is calling for guardrails on data centers to protect residential utility rates, union jobs and the environment, while Republican candidate Vivek Ramaswamy has been more supportive of the projects but says developers should pay their own electricity costs.

Ohio's weaker areas remain education and workforce. The state ranks 23rd in education and 35th in workforce, with only about 19% of adults holding a bachelor's degree or higher and labor data indicating too few skilled workers are staying in or moving to the state.

To address that gap, JobsOhio announced in June a $300 million investment over 10 years to recruit and train skilled workers. The agency estimates Ohio will need 540,000 workers in science, technology, engineering and math occupations over the coming decade.

In our earlier coverage of transformer and other power-grid equipment shortages, we explained how the rapid buildout of AI data centers is stretching lead times to multiple years and pushing up costs for utilities and developers. The report noted that companies are responding by locking in procurement much earlier, diversifying suppliers (including overseas sourcing), and using upfront payments and long-term agreements to secure critical components needed to connect large new facilities to the grid.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.