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Ohio's economy relies heavily on manufacturing, natural resource extraction, and farming, making it sensitive to the fluctions of the national economy. As Ohio moves into the 21st century, it is seeking to strengthen and diversify it's economy to create higher paying technology-based jobs as well as overall stability.
A highly industrialized state, Ohio derives much of it's income from manufacturing and commerce in durable goods such as machinery, motor vehicles, and steel. Historically, Ohio was a center for ceramic and glass production, and today it leads the nation in production of coal, lime, clay, and salt. Agriculture in Ohio consists mainly of corn, soybeans, and wheat due to it's location on the eastern edge of the corn belt. Ohio is also a leader in production of nursery stock, like bedding plants and poinsettias. Other agricultural products include sheep and fine quality wool products, as well as lumber and wood for furntiture, construction, and housing. Ohio also generates income through trucking and warehouses services, used to transport exportable goods.
As Ohio moves into the high-tech 21st century, it has put an emphasis on technology in schools and government. According to the Progressive Policy Institute's 2002 The State New Economy Index, Ohio ranked 4th in technology in schools and 5th in digital government.
In 2002, the gross state product (GSP) of Ohio was $388 billion, or 3.7 percent of the U.S. gross domestic product, ranking it seventh among the states for value of output. In 2001, Ohio's manufacturing GSP was $80 billion, ranking it 3rd among the states, after California and Texas. It also ranked 4th in durable goods GSP, after California, Michigan, and Texas.
In 2002, the median household income in Ohio was $43,332, higher than the national average of $43,052. In 2000, the home ownership rate in Ohio was 69%.
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