April 2026: 1.12% (C grade)
Ohio inventionINDEX April 2026: 1.12% (C grade)
The inventionINDEX measures innovation output by comparing GDP growth with patent production growth.
Anything over C grade is positive sentiment; anything under C is negative outlook/sentiment. Using that sentiment, it is possible to observe trends over time, and also compare states/countries. In doing so, we can predict which states have the best chance to recover economically from the pandemic (or any other economic incident that may occur).
Ohio inventionINDEX Scores – Last 12 months
| Month | inventionINDEX Score |
| April 2026 | 1.12% |
| Mar 26 | 3.99% |
| Feb 26 | 1.89% |
| Jan 26 | 0.93% |
| Dec 25 | 1.84% |
| Nov 25 | 1.86% |
| Oct 25 | 0.84% |
| Sep 25 | 3.31% |
| Aug 25 | 1.82% |
| Jul 25 | 3.83% |
| Jun 25 | 1.50% |
| May 25 | 2.25% |
| Apr 25 | 1.75% |
The Ohio inventionINDEX for April 2026 stands at 1.12 percent, earning a C rating. This current figure represents a significant retreat from the exceptional performance observed in March 2026, when the index reached 3.99 percent with an A plus rating. When viewed within the context of the last 60 months, the April score sits toward the lower end of the state’s historical spectrum. While it remains safely above the five-year low of 0.64 percent recorded in December 2022, it is a far cry from the peak of 4.56 percent achieved in January 2024. This latest data point suggests a cooling period for the state’s innovation metrics following a very strong first quarter.
Analysis of the historical table reveals a pattern of high volatility within the Ohio innovation ecosystem. The state frequently experiences rapid shifts, such as the jump from 0.93 percent in January 2026 to nearly 4 percent just two months later. These fluctuations suggest that the state’s innovation output is often driven by concentrated bursts of activity, perhaps tied to specific patent filing cycles or the timing of major venture capital rounds. The current C rating indicates that the state is currently in a restorative phase, attempting to find a new baseline after the significant surge seen at the beginning of the year.
Achieving a higher grade, particularly in the A to A plus range, provides a massive boost to Ohio’s economic reputation. High scores typically reflect a robust synergy between research universities and the private sector, signaling to national and international investors that the state is a fertile ground for disruptive technologies. These periods of high performance are often accompanied by increased job growth in the STEM sectors and a heightened rate of successful technology commercialization. A top-tier rating effectively serves as a marketing tool for the state, helping to attract and retain elite talent who seek to work in the most progressive and active industrial environments.
On the other hand, a lower score like the current 1.12 percent carries several negative implications for the state’s competitive edge. Lower ratings can suggest a bottleneck in the transition from research to market or a temporary drought in seed-stage funding for local startups. If a lower score persists, it may lead to a decrease in institutional confidence, causing a ripple effect where both private lenders and state grant programs become more risk-averse. Furthermore, consistent lower ratings risk a loss of momentum, potentially allowing neighboring states to capture a larger share of the Midwest’s innovation-driven investment capital.
Discussion:
In April, the Ohio inventionINDEX scored a positive sentiment which was lower than the previous year’s average and underperformed the upward trend for the year. This is in contrast to the prior 12 months, which experienced a considerable downward trend.
As the economy continues to stabilize in the post-pandemic era, it remains uncertain whether any backlog of applications still exists or if the department has returned to normal processing timelines. The inventionINDEX could also be affected by lingering consequences from the pandemic, such as company closures, reduced workforces, and limited R&D capabilities, which may still be impacting current operations.
Learn More:
Are you thinking of patenting any of your bright ideas? Did you know your research work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? To find out more, please check out our free online eligibility test.
Swanson Reed’s Ohio office provides R&D tax credit consulting and advisory services to Columbus, Cleveland, Cincinnati, Toledo, Akron, Dayton, Parma, Canton, Youngstown, Lorain, Hamilton, Springfield, Kettering, Elyria, Lakewood, Cuyahoga Falls, Middletown, Euclid, Newark and Mansfield.
Feel free to book a quick teleconference with one of R&D tax specialists if you would like to learn more about R&D tax credit opportunities.
Who We Are:
Swanson Reed is the largest Specialist R&D tax credit advisory firm in the United States. With offices nationwide, we are one of the only firms globally to exclusively provide R&D tax credit consulting services to our clients. We have been exclusively providing R&D tax credit claim preparation and audit compliance solutions for over 30 years.
Swanson Reed hosts daily free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/free-webinars or contact your usual Swanson Reed representative.
Are you eligible?
Why choose us?
Pass an Audit?
What is the R&D Tax Credit?
The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
Never miss a deadline again
Stay up to date on IRS processes
Discover R&D in your industry
R&D Tax Credit Preparation Services
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/
Choose your state
