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The state development department now has a strategic plan that includes precise and necessary objectives to meet
Published on Monday, Sep 08, 2008
Worth emphasis is that the 33 new or realigned programs ultimately aimed at increasing job and income growth and productivity by 2020 should be seen as part of a larger effort. Important work remains to be done in more effectively funding public schools and increasing access to the state's colleges and universities, driving up the percentage of the population with post-secondary training.
All of these steps build on changes to the state tax code that have lowered significantly the business tax burden in Ohio, now one of only a handful of states that will soon have neither a corporate franchise tax nor a tangible personal property tax.
One especially appealing aspect of the strategic plan, ''Ohio, Home of Innovation and Opportunity,'' is the look far enough ahead to a new, knowledge-based economy. The Statehouse crowd receives deserved criticism for dwelling on the short term. A bid to think about the long term is refreshing.
A welcome tone of agility and responsiveness is embedded in the initiatives, grouped around five broad goals. Lee Fisher highlights Check Ohio First, part of the plan's call for strengthening existing strengths, a business-to-business service program that grew out of regional meetings. It will encourage Ohio businesses to buy products and services in-state. Companies relayed that they didn't know where to look. Soon, they will. As with the rest of the plan, no major budget requests are envisioned.
Welcome, too, is the goal of investing in regional assets. The Ohio Hubs of Innovation and Opportunity program will create 12 regional centers where existing knowledge and assets are generating innovation. Think, for example, the University of Akron and polymer science. Various initiatives in Northeast Ohio already point in a similar direction.
Specific measurements of progress still must be worked out. In many instances, they already are defined with the precision necessary to keep thinking focused. Again, a regional approach applies. Want to increase the flow of venture capital? Ohio's share of the Midwest market (defined as adjoining states plus Illinois) now amounts to 14 percent. The goals is to push the share to 25 percent by 2020.
Other objectives include effective marketing, recruiting top talent and operating development programs in a way that concentrates on customer needs. In that way, Strickland and Fisher deserve applause for raising the bar, for setting specific measurements for success. Still, to help move Ohio forward, the targets must be kept in mind — and met.
Get the full article here.
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