Ohio Steel Industry
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Ohio Steel Industry is the largest producer of steel in the entire United States of America. The annual survey also seconds this fact. The value addition done by the Ohio Steel Industry in the steel industry sector (combining both the production as well as processing) amounts to 6.18 billion US Dollars.
It has a significant impact on the economic life of Ohio because approximately twenty two thousand inhabitants of the State of Ohio work in the Ohio Steel Industry which generates an income flow of 1.34 billion US Dollars. This industry along with its ancillary industries have been able to generate employment for nearly one lac people (ninety thousand to be precise) which generates an income flow of 4.8 billion US Dollars.
It has been observed by the researchers and analysts that on an average the amount of capital investment by the Ohio Steel Industry has been three hundred and fifteen million US Dollars. The steel companies present in Ohio are especially instrumental in utilization of cutting edge technologies for maintaining their competitive edge over their peers.
Some of the facts related to Ohio Steel Industry :-
- The total number of units involved in production as well as processing of steel in the state of Ohio, USA aggregate to two hundred and forty two.
- Ohio Steel Industry as a whole are also involved in forwarding donations meant for the charitable institutions. Rough estimates say that the amount of such charitable donations total to 5.3 US Dollars per annum.
- Ohio Steel Industry makes a payment of a lump sum amount of tax to the coffers of the Ohio state, USA which amounts to six hundred million US Dollars and more. In addition to this, they are also entitled to pay federal taxes amounting to the sum of seven hundred million US dollars.
- Ohio Steel Industry has certain responsibilities towards the environment for which they emphasize the concept of recycling process. To this end they used to purchase scraps for recycling purposes and ultimately convert them to steel. The amount of scrap these steel companies purchase amounts to a sum of eight million US Dollars.
