Cost Structure
A Competitive Cost Structure Awaits
Ohio has created a cost-competitive operating environment for businesses of all shapes and sizes. A common sense tax and regulatory approach has resulted in considerable business growth and investment causing states in the Midwest and beyond to take notice. On a local level the business climate in Wayne County is among the most advantageous in Ohio providing further benefit to area industry. The combination of a high quality of living and low business and personal expenses make Wayne County an attractive and competitive location for business growth.
Ohio Business Advantages
- Third friendliest tax environment (Ernst & Young)
- No corporate profit and franchise taxes
- No taxes on new machinery and equipment
- No tax burden on inventory
- No tax on out-of-state sales
- Fourth overall infrastructure/global access 2014 (Area Development)
- Sixth overall labor climate 2014 (Area Development)
- Below average Workers Compensation Premium Rates (Workers Comp. Research Institute)
Wayne County Business Advantages
- Lowest sales tax rate in the state: 6.75%
- Low municipal income tax rates: Orrville 1% | Rittman, Wooster 1.5%
- Below average weekly wage: Ohio $874 | Wayne $780 (Ohio Labor Market Info: 2014)
- Below average cost of living: US 100 | Wayne 91.7 (ACCRA)