In return for that investment, Honda and its employees have paid more than $1 billion in state and local taxes since 1979, according to the Ohio Department of Development.
Honda's economic impact study states that for every $1 Ohio spent on incentives, the state has receive nearly $40 in revenue benefits from Honda.
"Honda is proof that strong relationships, targeted incentives and continual nurturing can combine to produce a significant return on investment," says Bruce Johnson, director of the Ohio Department of Development.
Lower distribution costs were a key factor in Honda's decision to come to Ohio. Honda didn't want to have to ship vehicles around the United States from plant on the West Coast.
Honda also chose Ohio because of its proximity to the existing automotive supply base, good access to major highways and the proximity to the then state-owned Transportation Research Center in East Liberty, Ohio, says Honda spokesman Ron Lietzke. Honda purchased the research center from the state in 1988.
Hirashima says Honda's "success in Ohio led to a tidal wave of insourcing. Every major international automaker and hundreds of new suppliers are building products in America. When consumers saw that Honda's American workers could build high-quality vehicles, domestic automakers had to increase their quality and productivity to compete. Today, the quality of almost every vehicle produced in America has risen to the highest levels ever."