JobsOhio Cites Record Metrics in Annual Report
COLUMBUS, Ohio – JobsOhio touts record numbers of job creation and capital investment in its 2015 annual report and strategic plan.
The state’s private economic development corporation reports it worked on 330 projects last year that resulted in 23,602 new jobs in Ohio – more than 9,100 during the final quarter — and $6.7 billion in capital investment. That compares to 21,377 jobs and $6.1 billion in capital investment in 2014, according to the annual report.
In addition, retained jobs were 54,233. Payroll for new jobs was $1.1 billion, payroll for retained jobs $3.1 billion.
Last year’s “record metrics are the result of the strong performance across JobsOhio’s targeted industries, as well as JobsOhio’s ability to deliver for clients and for Ohio,” John Minor, JobsOhio president and chief investment officer, said.
“The results span the spectrum of clients, including small businesses, middle market companies and large corporations,” he continued. “Last year, more than 80% of projects were with small and medium-sized companies.”
The report, issued March 17 at the JobsOhio Board of Directors’ quarterly public meeting, credits Team NEO’s efforts with supporting $687 million in capital investment and helping to create 3,640 jobs in northeastern Ohio.
“The JobsOhio model would be incomplete and unsuccessful without its six regional partners,” the report states.
JobsOhio focuses specifically on nine industries: aerospace and aviation; food processing; biohealth; shale energy and petrochemicals; information technology; automotive; logistics and distribution; financial services; and advanced manufacturing.
The annual report cites academic-industry partnerships as “helping Ohio lead the way in advanced materials and process innovations,” positioning Ohio manufacturers for early adoption. In particular, it identifies America Makes, the federally established manufacturing innovation center in Youngstown that focuses on additive manufacturing.
Since 2011, JobsOhio’s efforts have resulted in more than 400,000 new private-sector jobs, Gov. John Kasich states in the report.
Among the companies JobsOhio spotlighted is Fuyao, which in January 2015 announced its second project in the state, a year after it announced it would situate its first major North American plant in the former General Motors plant in Moraine. Online retail giant Amazon is moving forward on several projects in the state, including data and fulfillment centers.
“In last year’s annual report, we highlighted Ohio’s opportunity to participate in the growth of the U.S. petrochemical market, thanks to Utica shale and Ohio’s strong polymer industry,” Major said. In September, JobsOhio took “a major step” toward capitalizing on the opportunity with PTT Global Chemical, which announced it would spend $100 million initially on the engineering and design of a “major petrochemical complex” in Belmont County.
“Despite the recent drop in oil and gas prices, PTT continues to move forward and remains focused on the long-term business prospects of building an ethane cracker here,” Minor said.
Copyright 2022 The Business Journal, Youngstown, Ohio.