Ohio’s Financial Services Sector: An Economic Engine | Ohio Chamber of Commerce Research Foundation

Ohio's Financial Services Sector: An Economic Engine

Report Reveals the Industry's Massive Impact on Jobs, Growth, and Communities

The Ohio Chamber of Commerce Research Foundation is proud to unveil a report showcasing the immense economic and fiscal impact of Ohio's financial services industry. Conducted in partnership with the University of Cincinnati Economics Center and the Ohio Bankers League, this study reveals the sector's vital role in driving Ohio's prosperity.

Watch Report Summary

Get a quick overview of the report's key findings and their implications for Ohio's future.

Key Findings

Economic Engine: The financial services sector generated $255.1 billion in sales in 2022, demonstrating a substantial economic multiplier of 2.13. This means that every dollar generated directly by the sector creates an additional $1.13 in economic activity throughout the state.
Job Creator: The industry supported 819,582 jobs, showcasing its crucial role as a major employer. The job multiplier of 3.19 underscores the far-reaching impact of the sector on job creation across various industries.
Community Investor: The sector's total fiscal impact reached $3.0 billion in 2022, highlighting its significant contribution to funding vital public services.
Empowering Ohioans: Ohio's financial institutions continue to empower consumers and businesses, providing essential financial services and fostering economic growth. In 2022 alone, they provided over $32.0 billion in home mortgages and $10.7 billion in small business loans.

Download the Reports

Dive deeper into the data and analysis behind the financial services sector's impressive impact.

View the Full Report

View the Infographic Summary

Go Further

Have questions or want to discuss the report's findings in more detail? The Ohio Chamber of Commerce Research Foundation welcomes your inquiries. Contact us today to learn more about the dynamic financial services sector in Ohio and how we can collaborate to support its continued growth.