Unlocking Ohio’s economic potential

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Note: These publications were published in 2020 and 2021. For most-recent data, consult the data sources at the end of the publication.

Data Points

Key data findings

• Eliminating disparities experienced by Black and Hispanic/Latino Ohioans can increase the state’s health, well-being and economic vitality. Ohio stands to gain an estimated $79 billion in annual economic output by 2050 by providing fair environments and opportunities to every resident.
•  In addition to growing the size of Ohio’s economy, the elimination of disparities would also enable the state to gain:
  • $40 billion more in total income
  • $30 billion more in consumer spending
  • $4 billion more in state and local sales tax revenues
  • $3 billion in reduced healthcare spending
  • $2 billion in increased employee productivity
  • $821 million in reduced corrections spending
• Ohio spends more than $2 billion per year in general revenue fund dollars on corrections. If disparities were eliminated so that Black Ohioans were not disproportionately incarcerated, 40% fewer Ohioans would be incarcerated, corresponding to a savings of $638 million per year in corrections spending. By 2050, this would represent a reduction of more than 22,000 incarcerated people and a $821 million reduction in costs.

Suggested citation: Health Policy Institute of Ohio. Unlocking Ohio’s economic potential: The impact of eliminating racial disparities on Ohio businesses, governments and communities. July 2023.  

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