JobsOhio: 21,000 New Jobs, $6.1B Invested
COLUMBUS, Ohio — Job creation in 2014 was 20% better than in 2013, new capital investment was up 70% over the year, but retained jobs were down over the year, JobsOhio reported Monday.
In its 2014 annual report (CLICK HERE), the state economic development agency said it assisted companies that committed to creating 21,377 new jobs, retaining 52,140 jobs and adding $6.1 billion in new capital investment. Middle market companies and small businesses accounted for more than two-thirds of the job creation, retention and new capital investment, the agency said.
“Results continued to reflect a diverse industry base throughout the state,” with industries such as advanced manufacturing, information technology, food processing, automotive and energy posting strong results, James C. Boland, JobsOhio chairman, and John F. Minor Jr., CEO, said in a letter contained in the report.
Retained jobs were down over the year, the agency noted. In 2014, 52,140 jobs were retained by companies assisted by JobsOhio, down from 70,449 in 2013. Payroll from retained jobs was $2.9 billion last year, down from $4.3 billion in2013.
New and retained jobs associated with companies assisted by JobsOhio last year totaled 73,517, down from 88,306 in 2013. Total jobs payroll was $3.8 billion, down from $5.1 billion the year before.
Of the new jobs companies committed to last year, 73% came from companies already in Ohio while 27% resulted from attraction projects, the agency said. Also, 77% of the new capital investment came from existing businesses in the state.
“Ohio continues to transform and become the place where job creators want to be, and JobsOhio continues to play a huge role in that work,” Gov. John Kasich said in a statement accompanying the report. “Its commitment to fostering a jobs-friendly climate has been critical to helping Ohioans make their state the place where businesses look first and existing businesses grow.”
Team Northeast Ohio, or Team NEO, one of six partners in the JobsOhio Regional Network, was credited with helping attract 3,794 new jobs, retain 11,865 existing jobs and $1.3 billion in capital investment. Among these projects is Matalco Inc.’s $125 million aluminum smelting plant under construction in Lordstown, the report noted.
“We chose Lordstown for our new plant because of its location to our market, exceptional workforce, and the comprehensive incentive package and assistance provided from the state and local levels,” said Armand Sanguigni, president of Matalco Inc., said in the JobsOhio report. Matalco broke ground last September.
In 2015, the agency will continue to leverage resources, including its expanded staff, which it says had led to “greater results and improved performance,” Boland and Minor said. Last year JobsOhio launched a series of advertisements to “drive awareness of Ohio to growing companies” and this year it will continue to implement its marketing plan.
Copyright 2023 The Business Journal, Youngstown, Ohio.