Ohio could add $79 billion annually to its economy by eliminating racial disparities, HPIO analysis

The Health Policy Institute of Ohio today released new analysis that found that if Ohio eliminated racial disparities, by 2050 the state could gain $79 billion in economic output each year, an increase of 10% over current gross state product. 

Titled “Unlocking Ohio’s Economic Potential: The Impact of Eliminating Racial Disparities on Ohio Businesses, Governments and Communities,” the analysis is a first-of-its-kind look at the economic potential associated with eliminating racial and ethnic disparities in Ohio, as illustrated in the graphic above.  

“Beyond the substantial impacts on people and communities of color across Ohio, disparities in outcomes, such as life expectancy and overall health status, represent missed economic opportunities for Ohio businesses, governments and communities,” the report finds. “By eliminating racial disparities, leaders in Ohio can grow the workforce, increase consumer spending, strengthen communities and reduce fiscal pressures on state and local budgets.”   

The report also includes recommended action steps and examples of how states, counties and municipalities across the country are implementing policies to reduce disparities. 

“Ohioans of all ages and from all sectors, communities and backgrounds can take meaningful steps to dismantle systemic racism and improve the health and economic vitality of the state,” according to the report. 

Support for this project was provided by bi3, Interact for Health, The Columbus Foundation and HPIO’s other core funders.