Team NEO Champions Diversity with Record Number of JobsOhio Inclusion Grants in 2023
CLEVELAND, Ohio — Team NEO, a regional economic development organization, has reported a significant number of projects supported by JobsOhio Inclusion Grants (JOIG) in 2023, making it the leading entity in the state of Ohio in terms of grant distribution. The 51 grants awarded by Team NEO this past year have led to the creation of 219 new jobs, over $12 million in new annual payroll, and capital investments surpassing $18 million within the Northeast Ohio Region.
The JOIG program is designed to bolster projects in eligible communities or businesses owned by underrepresented groups, such as people of color, women, and veterans.
“Helping small, diverse companies grow is the right thing to do,” said Bill Kohler, Team NEO CEO. “It helps make the Northeast Ohio Region more competitive, has a positive impact on our local communities and helps increase prosperity for everyone in the region.”
Among the recent beneficiaries of JOIG support are Engineered Products of Ohio, Kameron Anthony Construction LLC, M&W Electric Manufacturing Co., and Sportsguard Laboratories, Inc. These companies represent a range of industries, from high-tech RFID manufacturing to construction, electrical manufacturing, and sports equipment production, with each entity experiencing growth and expansion attributed to the JOIGs.
For instance, Engineered Products of Ohio, a woman-owned business, received a $25,000 grant to aid its rapid expansion and is planning to hire eight new employees. Kameron Anthony Construction LLC, a minority-owned firm, was granted $50,000 to help it become the first structural steel erector and fabricator in the state, and it aims to add nine new staff members. M&W Electric is using its $25,000 grant to update a newly purchased facility and hire additional staff, while Sportsguard Laboratories, Inc. will use the same grant amount to incorporate 3D printing technologies and expand its workforce.
For more details on the JOIG and other business incentives offered by Team NEO click Here.
Copyright 2024 The Business Journal, Youngstown, Ohio.