Youngstown Daily Legal News

JobsOhio report: Big increase in new jobs, capital investments mark busy 2017 for Ohio businesses

BRANDON KLEIN
Special to the Legal News
Published: March 20, 2018

Ohio's private economic development arm has touted its results from last year - JobsOhio worked on 272 projects with regional and local partners that committed to create 22,788 new jobs, $1.1 billion in new payroll and $9.6 billion in new capital investments in the state, according to the corporation's annual report.

New jobs were up 11 percent from 2016, while last year's payroll matched the previous record.

But capital investments more than doubled the 2016 amount and set a new record for JobsOhio.

"Our progress continues to be a function of making smart investments to not only build our capabilities through our team and programs, but also to increase our potential long-term impact on the state and its communities," said Jim Boland, JobsOhio board chairman.

From July 2011 to December 2017, projects JobsOhio worked with have lead to 139,178 new job commitments, $6.2 billion in new payroll and $38.2 billion in new capital investment.

"We remain clear in terms of our focus and our areas for growth - talent, sites, infrastructure and innovation," Boland said in the report.

JobsOhio now has more than 1,100 attraction and expansion opportunities it's pursuing.

It has more than 380 projects in the active stage that could lead to 120,039 new and retained jobs and $26 billion in capital investment if fully realized.

Looking ahead, the agency anticipates more scale-up companies across targeted sectors including biohealth.

JobsOhio plans to increase its engagement with such companies this year and expects to add an additional $50 million of funding on attracting new research and development centers.

It also expects to increase investments in sites that are development ready, which is a need for sectors in advanced manufacturing, automotive and food processing sectors.

Talent is another priority. JobsOhio is working with tech giants such as Amazon and Google and is focused on upskilling programs and competency-based training resources for future jobs, according to the report.

In central Ohio, Columbus 2020, JobsOhio's regional partner, are ahead of schedule for its economic development goals set in 2010.

The organization's aims to add 150,000 net new jobs, generate $8 billion of capital investment and raise per capita income 30 percent by the year 2020.

As of October, Columbus 2020 has helped add 147,595 net new jobs, generated $8.7 billion of capital investment as of November and a per capita income increase of 24.4 percent as of 2016.

Additionally, 63 companies expanded in the Columbus region last year generated an investment of $1.54 billion to create 5,100 new jobs.

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