Buckeye Reporter

In the 2024 Economic Freedom of North America report, Ohio's ranking dropped two spots to 35th among all 50 states and Puerto Rico. The Buckeye Institute released the report in collaboration with Canada's Fraser Institute. It evaluates economic freedom based on government spending, taxation, and labor-market freedom across the United States, Canada, Mexico, and Puerto Rico.

"While Ohio’s score in taxation is commendable and its score in labor-market freedom is decent, its score in government spending, particularly as that spending relates to the state’s stressed public pension system, continues to be a massive drag on its overall ranking," stated Zachary D. Cady, associate economist at The Buckeye Institute. "If Ohio is to improve its ranking, its leaders must get serious about reining in the state’s overspending and confronting its looming pension problems."

Ohio ranks 35th this year with a score of 6.04. In terms of government spending, it stands at 45th place but performs better in taxation and labor-market freedom with rankings of 18th and 29th respectively.

The latest edition of the report employs a revised methodology for assessing states' government spending, taxation, and regulations using data from 2022.