NAICS 52

Finance and Insurance in Springfield, OH

Metro Market Score 56.8 (Challenging), ranked #229 of 331 metros. 112 establishments, 1,858 jobs.

Metro Market Score 56.8

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

Springfield's finance and insurance sector saw employment decline over the past year (growth trend: 16.9). That contraction, combined with a 56.8 market score, puts this metro in the lower half for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

85.8

LQ: 0.97

Rank #284 of 331 metros

Wage Competitiveness

3.9

$63,500 avg wage

Growth Trend

↓ 16.9

Employment growth index

Rank #276 of 331 metros

Wage Pressure

47.3

YoY wage change index

112 Finance and Insurance Firms in Springfield

112

Establishments

+0.0% YoY

1,858

Total Employment

-4.5% YoY

$63,500

Average Annual Wage

+6.7% YoY

0.97

Location Quotient

Below national avg

Within Ohio

#8 of 11

finance and insurance metros in state

Ohio state rank

#14 of 51

for finance and insurance entry risk

vs State Median

+7.9

worse than median (48.9)

Springfield vs Ohio Statewide

How this metro's finance and insurance market compares to Ohio overall. The state ranks #14/51 for entry risk.

Measure	Springfield	OH Statewide
Overall Score	56.8 Challenging	48.2 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#229 of 331 metros	#14 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Springfield

Professional, Scientific, and Technical Services 24.6 Construction 28.4 Accommodation and Food Services 32.4 Real Estate and Rental and Leasing 36.0 Information 47.9 Retail Trade 48.5 Healthcare and Social Assistance 52.6 Other Services 61.5 Administrative and Support Services 66.6

Finance and Insurance in Other Ohio Metros

Mansfield 29.5 #45/331 Lima 31.2 #56/331 Sandusky 39.8 #104/331 Toledo 44.1 #137/331 Dayton-Kettering-Beavercreek 48.7 #161/331 Youngstown-Warren 48.9 #163/331 Canton-Massillon 51.2 #183/331 Cleveland 63.5 #265/331 Akron 67.2 #279/331 Columbus 78.4 #327/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Springfield's 56.8 score. Useful when comparing markets with comparable entry profiles.

Gainesville, GA 56.9 #230/331 Sheboygan, WI 56.7 #228/331 Charlottesville, VA 57.0 #231/331 Bismarck, ND 57.3 #232/331 Traverse City, MI 57.3 #233/331 Santa Fe, NM 56.3 #227/331 Decatur, IL 56.0 #226/331 Las Vegas-Henderson-North Las Vegas, NV 55.8 #225/331 Myrtle Beach-Conway-North Myrtle Beach, SC 57.8 #234/331 Utica-Rome, NY 57.9 #235/331

Finance and Insurance in States Bordering Ohio

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

West Virginia 39.8 #2/51 Kentucky 40.0 #3/51 Indiana 45.4 #9/51 Pennsylvania 48.8 #19/51 Michigan 49.8 #23/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Springfield's finance and insurance sector, the employment growth component (83.1) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Springfield, OH MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment