June 2026: 3.45% (A+ grade)

Ohio inventionINDEX June 2026: 3.45% (A+ 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).

Historical Ohio inventionINDEX Scores

The Ohio inventionINDEX score for the past 12 months is shown in the table below.

The recent performance of the Ohio inventionINDEX in June 2026 reveals a remarkable surge to 3.45%, securing a top-tier A+ rating. When compared to the historical trajectory across the past 60 months, this latest figure sits substantially above the long-term average score of approximately 2.32%. This indicates a robust recovery from the more suppressed levels observed in early 2026, such as the January low of 0.93%. Throughout the 60-month history, the index has experienced notable volatility, reaching an all-time peak of 4.56% in January 2024 and hitting its lowest depth of 0.64% in December 2022. The current score positions Ohio in a competitive stance, demonstrating that the regional innovation landscape is currently performing at a level that surpasses three-quarters of the historical data points in this series.

Achieving a higher grade on the index, such as the current A+ rating, carries several critical positive outcomes for the state. An elevated score reflects accelerated growth in intellectual property creation, heightened research and development activities, and a flourishing entrepreneurial ecosystem. These high-performing periods act as a powerful signal to venture capitalists and corporate investors, indicating that Ohio is a fertile ground for technological advancements and financial investment. Furthermore, a rising index correlates with increased high-value job creation, stronger collaboration between academic institutions and private industries, and an enhanced reputation that attracts top-tier global talent to the region.

On the other hand, the negative implications of a lower score or a dropping grade present significant economic risks. When the index contracts toward historical troughs—similar to the C- and D+ ratings witnessed during certain intervals in 2022 and 2025—it signals a contraction in creative output and technological stagnation. Lower scores often reflect underfunded research initiatives, a drop in patent filings, or systemic barriers that stifle market entry for new inventions. This downward movement can lead to a loss of investor confidence, causing capital to migrate to more innovative regions, which ultimately results in a brain drain as skilled professionals seek opportunities elsewhere.

Looking at the complete 60-month horizon, the Ohio inventionINDEX demonstrates a cyclical yet resilient pattern of innovation. While the index frequently experiences sharp corrections, the capacity to rebound swiftly toward higher marks underscores a foundational strength in the state economy. Maintaining the upward momentum observed in mid-2026 is vital for ensuring long-term regional competitiveness and preventing future economic contractions. Continuous monitoring and strategic support for local innovators will be essential to sustain these high ratings and secure lasting prosperity.

Discussion:

In June, the Ohio inventionINDEX scored a positive sentiment which was higher than the previous year’s average and outperformed the downward trend for the year. This is similar to the prior 12 months, which experienced a 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.