As goes Ohio . . .

In politics, the old saying is "as goes Ohio, so goes the nation." That was certainly true in the last election. But is it also true in economics?

Not according to a story in Monday's Wall Street Journal, "Ohio Offers Clues On Cause of Low Growth". The story points out that Ohio has a higher than average unemployment rate, even higher than neighboring manufacturing states like Pennsylvania.

But, Ohio may lead the nation in the new direction of innovation-led economic development based on local intangibles assets - if it follows the strategy described in the article:

The key is to build on the expertise in production and materials. For instance, the polymers industry is big in Ohio, thanks to the state's history of tire-making. Cleveland-based metal and forging companies are now making hip-replacement implants out of titanium, and chrome coatings for medical instruments that make them easier to disinfect. Logistic companies are sprouting up to take advantage of its central shipping location.

The state can build on its inherent strengths, including its Midwest location. Shipping, mainly over highways and through ports on Lake Erie, is booming because the state is centrally positioned in terms of trucking goods to the Northeast and Southeast. To attract drivers, trucking companies are raising wages. Logistics companies are sprouting up. Northeast Ohio has top universities and health-care facilities, notably the Cleveland Clinic.

Sounds like the makings of a smart strategy to me.