Ohio is a major producer of machines, tires and rubber products, steel, processed foods, tools, and other manufactured goods. This is not immediately obvious because Ohio specializes in capital goods (goods used to make other goods, such as machine tools, automobile parts, industrial chemicals, and plastic moldings). Nevertheless, there are well known Ohio consumer items including some Procter & Gamble products, Smuckers jams and jellies, and Day-Glo paints.

There are also numerous automobile plants in Ohio that manufacture cars, most notably the Jeep plant in Toledo, where the vehicles have been made since their initial release in World War II. Honda, Ford, and General Motors also have or had automobile plants in Ohio; in the case of the latter, one of their plants in Ohio (Lordstown Assembly, near Youngstown) is located right off the Ohio Turnpike with its own exit.

Ohio is the site of the invention of the airplane, resulting from the experiments of the Wright brothers in Dayton. (Wright State University located in Dayton is named in their honor.) Production of aircraft in the USA is now centered elsewhere, but a large experimental and design facility, Wright-Patterson Air Force Base has been located near Dayton and serves in the co-ordination of production of US military aircraft. On the base are located Wright Hill and Huffman Prairie, where many of the earliest aerodynamic experiments of the Wright brothers were performed. Ohio today also has many aerospace, defense, and NASA parts and systems suppliers scattered throughout the state.

As part of the Corn Belt, agriculture also plays an important role in the state's economy. There is also a small commercial fishing sector on Lake Erie, and the principal catch is yellow perch. In addition, Ohio's historical attractions, varying landscapes, and recreational opportunities are the basis for a thriving tourist industry. Over 2,500 lakes and 43,000 miles (70,000 km) of river landscapes are a paradise for boaters, fishermen, and swimmers. Of special historical interest are the Native American archaeological sites�including grave mounds and other sites. According to the Ohio Department of Agriculture Ohio in 2001 ranked as 1st in Swiss cheese, 2nd in eggs,3rd in tomatoes, 5th in milk, 6th in corn, 6th in soybean, 8th in grapes, 9th in hogs, 9th in floriculture, and 11th in apples.

Two major amusement parks, Cedar Point, and Kings Island, are also important to the tourism industry. Ohio's Amish country is also a major pull for the State's tourism industry. Though still forming itself, tourism is becoming a major industry in Cleveland, especially medical tourism.

The Bureau of Economic Analysis estimates that Ohio's gross state product in 2004 was $419 billion. In 2006 the Bureau of Economic Analysis estimates that Ohio's gross state product was $461.3 billion ranking it 7th in the nation . If Ohio was its own nation in would be ranked 17th in GDP ranked behind the Netherlands and above Belgium. Per capita personal income in 2003 was $30,129, 25th in the nation. Ohio's agricultural outputs are soybeans, dairy products, corn, tomatoes, hogs, cattle, poultry, and eggs. Its industrial outputs are transportation equipment, fabricated metal products, machinery, food processing, and electricity equipment. According to the 2007 Fortune list Ohio had 28 Fortune 500 companies (ranked 5th nationally) and 60 Fortune 1000 companies (also ranked 5th nationally). 3 Ohio cities (Cincinnati, Columbus, and Cleveland) have 5 or more Fortune 500 Companies (ranked 2nd behind Texas among the states.

Ohio's budget could face a deficit as high as $1.9 billion in fiscal year 2009.

Ohio is recognized for its health care, due to several flagship hospitals that operate in the northeast region of the state. The Cleveland Clinic, ranked among the three leading hospitals in the U.S., has its world headquarters and main campus in Cleveland. Its partner, the University Hospitals of Cleveland health system, includes the Rainbow Babies and Children's Hospital, ranked among the top ten children's hospitals in the country. Cincinnati Children's Hospital is the leading center for research into childhood diseases in the state.

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