Education, insurance, finance, apparel, security, aviation, food, manufacturing, steel, oil, medical science, health care, hospitality, shopping, and technology are all important parts of Columbus' economy. According to Relocate America, a real estate research company, it was rated as one of the top 10 best major cities in the country in 2010.
Columbus was named the No. 7 best city for young professionals by Forbes in 2016. Columbus was named one of the Top Five Best Cities for Entrepreneurs and Startups by Business.com in 2018. Ohio is the fifth-largest state in the country for Fortune 500 headquarters, with Columbus having the most.
Columbus was named one of the top seven Smart Cities in the world by the Intelligent Community Forum in 2015.
The Columbus metropolitan area's GDP was $130.8 billion in 2016, ranking it 29th in the United States and second in Ohio, just behind Cleveland and ahead of Cincinnati.
Owing to decades of diversification work by long-time corporate citizens, industry owners, and political leaders, Columbus' economy was not as badly affected as the rest of the nation during the recession that began in late 2007. While the city was in financial distress and had to raise taxes as a result of perceived fiscal mismanagement, the former administration of mayor Michael B. Coleman continued this work. Since Columbus is the state capital, the city has a significant government presence. Government workers, which include city, county, state, and federal employers, are the single largest source of employment in Columbus.
Numerous colleges and hospitals (e.g., The Ohio State University), hi-tech research and development and information/library companies (e.g., Battelle Memorial Institute, OCLC, and Chemical Abstracts), and retail clothing and restaurant companies (e.g., Limited Brands and Wendy's) are all major employers in the Columbus region. Alliance Data, Nationwide Insurance, JP Morgan Chase, American Electric Power, Huntington Bancshares, Worthington Industries, and Cardinal Health are among the other major employers, as well as state and local governments.
To form a limited liability company in Ohio, you must file Articles of Organization with the Ohio Secretary of State, which costs $99. You have the option of applying online or by mail. The Articles of Organization are the legal documents that create your limited liability company in Ohio.
Info on the sales tax in Columbus, Ohio
Columbus, Ohio's minimum aggregate sales tax rate for 2021 is 7.5 percent. This is the amount of the sales tax rates in the state, county, and area. The new sales tax rate in Ohio is 5.75 percent. The sales tax rate in the county is 1.25 percent. The sales tax rate in Columbus is 0%.