2020 Annual Report & Strategic Plan
Filled with challenges that reached global proportions, 2020 was a year that altered all of our expectations.
One moment, we were building on our plans for the year. Then, in March, organizations worldwide were forced to pivot quickly to respond to the unprecedented pandemic.
At JobsOhio, we shifted our focus to ensure that Ohio businesses had resources to sustain their operations, all while continuing economic development activity. Amidst the uncertainty and frequent changes, we maintained our spirit of innovation, perseverance, and hope. And in 2021, Ohio will only become stronger, thanks to Ohioans’ determination and the solid fundamentals of Ohio’s economy.
Message from Governor
& Lt Governor
Message from Our Leadership
JobsOhio operates under the guidance of an independent board of directors appointed by the Governor, by which the organization fulfills its statewide economic development mission
2020 Results
- 307projects
- 19,021new jobs created
- $1.0Bin new payroll
- $7.8Bin capital investment
JobsOhio 2020
Projects
Our Response to COVID-19
Early in the year, the emergence of the global COVID-19 pandemic prompted us to shift many of our goals in order to support Ohio communities better and help our state emerge as a national leader in navigating a full economic recovery. We moved quickly to develop several new programs in addition to our normal economic development work that would help Ohio continue to thrive, even under these unexpected circumstances. When Ohio needed us, we were ready.
- $500 millionInvestment in COVID-19 support initiatives
- 300,000Jobs impacted by JobsOhio’s 10 new programs
- 15,000Businesses helped by these programs
An Analysis of Ohio’s Economy
Ohio is positioned to make a strong return from the effects of the COVID-19 pandemic.
Ohio’s Position in the U.S.
-
#2
fastest recovery
to pre-COVID-19 conditions in the region*
-
#2
most affordable state to live
in the U.S.
-
#3
largest manufacturing workforce
in the U.S.
-
#6
best overall economic exposure
to the virus
-
#1
manufacturing GDP
in the region*
-
89%
reduction in unemployment claims since the peak in March
-
60%
reach of the U.S. and Canadian population within a one-day drive from Ohio
-
*Region defined as IL, IN, MI, KY, OH, PA, and WV.
Among the 10 Best Cities for Millennial Homebuyers, Ohio placed four times:
-
#4
Dayton
-
#7
Akron
-
#8
Columbus
-
#10
Cincinnati
Ohio Rankings in National and Regional Sectors
When it comes to national rankings and studies of the best states for business, Ohio continues to accumulate accolades. Ohio's reputation for being business-friendly is supported by countless positive rankings across the nation by other agencies, organizations, publications, and, perhaps most importantly, the businesses that have chosen to grow within its boundaries. Thanks to our resilient economy and affordable cost of living, Ohio's value proposition has never been more evident.
The above recovery insights and ongoing rankings below indiciate that Ohio is and will continue to be in a position of leadership for opportunity.
National Business Climate
-
#1
Governor’s Cup
-
#9
Best for Business
-
#3
Business Climate
-
#9
Best for Business
-
#7
Opportunity
-
#10
Top for Business
National Sector Leadership
-
#2
Automotive Manufacturing Strength
-
#6
Opportunity Zones
-
#2
Aerospace Attractiveness
-
#9
Manufacturing GDP
-
#3
Manufacturing Workforce
-
#10
Technology Jobs
Regional
-
#1
In Rainy-day Fund Balance
-
#2
Pension Funding Level
-
#2
Recovery to Pre-COVID-19 Conditions
-
#2
In Real GDP Growth
-
#2
Highest Bond Rating
Strategic Initiatives
Talent
Our people are what make our state so extraordinary. We redoubled our efforts to expand and support our workforce with solutions to help companies find the talent they need to thrive in Ohio—including launching two new programs this year alone. JobsOhio is helping companies access workforce partners in Ohio and investing in programs to increase the skilled talent pool by recruiting top talent, upskilling incumbent workers, and reskilling workers for the jobs of the future.
Ohio to Work
Piloted in the greater Cleveland area, Ohio To Work will help those displaced by the COVID-19 pandemic return to work or discover new job opportunities. This is accomplished through a mix of accelerated job exploration, coaching, innovative financing, and training in collaboration with leading employers, training providers, and nonprofits.
Ohio To Work is unique and innovative because it takes a holistic approach—partnering with the full workforce ecosystem—and is designed to look ahead and build a resilient workforce for the future.
Find Your Ohio
Find Your Ohio is a talent attraction program that launched in March 2020 to drive in-demand talent to the state. Through the program, we connect qualified, out-of-state candidates with job opportunities at companies operating in Ohio. JobsOhio developed Find Your Ohio to address talent shortages that organizations continue to face in critical disciplines. For our inaugural year, we focused on technology talent, specifically five roles of express need.
Through regular engagement with both candidates and companies, from resume submission to consideration, we dramatically increase our chance of successful placement.
As of December 31, 2020, we’ve successfully driven 807 resume submissions through our program website.
Talent Acquisition Services Program
Launched in 2017, the JobsOhio Talent Acquisition Services program (TAS) works with companies that are new to, or expanding within, Ohio to identify their unique talent challenges and customize sustainable talent strategies to solve them. The goal is to build and execute a flexible and customizable recruitment strategy alongside the company’s existing recruiting team.
Sites
Site availability and readiness have been identified as major contributing factors to private sector development and job creation. In the past, Ohio has lost opportunities to secure capital investment and job creation due to a lack of site options. In 2020, JobsOhio invested in multiple initiatives related to site and building development to increase Ohio’s potential to win projects. Additionally, JobsOhio initiated efforts for further real estate development and community readiness.
Preparing Sites for Development
We continued working on JobsOhio’s premier site program, SiteOhio, a site selection evaluation program that puts industrial properties through a more stringent and comprehensive analysis than any other state site certification process in the U.S., to ensure that each site is ready for immediate development.
Focusing on Revitalization
Brownfield sites can be appealing, but the cost, relative to their market value, to develop them often deters redevelopment. JobsOhio offers a program that can bridge that financial gap. The JobsOhio Revitalization Program offers loans and grants to companies to redevelop underutilized properties — both land and buildings — and put them back into productive use. This funding mitigates the financial risk and accelerates the speed at which sites are redeveloped.
Filling Gaps in Real Estate Inventory
To help our state compete for reactive site selection projects and accelerate the process of bringing them to fruition, JobsOhio committed $50 million for the Ohio Site Inventory Program (OSIP), which extends grants and low-interest loans to support speculative site and building development projects. These projects have no identified end-user but have the potential for near-term job creation, supporting brownfield redevelopment, or filling inventory gaps within JobsOhio target industry sectors.
Projects are prioritized that result in near-term job creation, support brownfield redevelopment, or fill inventory gaps within JobsOhio target industry sectors.
Diversity & Inclusion
For Ohio’s recovery to be sustainable, it must be inclusive of all Ohioans. This year, we’ve focused on developing several programs that have helped us make Ohio a state where anyone can thrive, particularly in our underserved and distressed communities.
Diverse & Inclusive Recovery for ALL Ohioans
New/Current JobsOhio DEI Programs | Investment | Impact |
---|---|---|
JobsOhio Inclusion Grant
Grants for SMBs in distressed areas or owned by underrepresented population groups
|
$5M annually
|
First 3 months: 87 companies in pipeline representing 483 jobs and $45M new investment
|
Project Planning & Vibrant Communities Programs
Technical support and grants for transformational projects
|
$6.4M annually
$32M/5 years
|
Targeting 3-6 projects across state, 150+ new jobs, $12+M new investment in distressed communities
|
Community Bank Partnership
|
up to $50M
|
Supported bank loans for small and medium-sized businesses in underrepresented geographies. Totaling over $10M to more than 170 companies employing 2,200+ Ohioans
|
Ohio To Work
Work with existing workforce development eco-system partners, resources for technology, training, outreach
|
up to $30M
|
Pilot launched in NE Ohio. Targets
underrepresented populations, partners
include Urban League, and Goodwill
|
New/Current JobsOhio DEI Programs | Investment | Potential Impact |
---|---|---|
London Stock Exchange Group ELITE Program
Includes some targeted cohorts in distressed areas and for underrepresented populations.
|
$6.3M
18 cohorts
(~200 small and medium sized businesses)
|
Access in underrepresented populations, Stark County minority-owned business cohort underway; Youngstown, Cleveland & Appalachia cohort in development
|
Affordable Broadband Access
|
up to $ 50M
M
|
Access in underrepresented geographies and affordable access for underrepresented populations
|
JobsOhio Bank Loan Guarantee
Loan guarantees for small business owned by underrepresented populations
|
$10M annually
$30M/3 years
|
Innovation
Over the last several years, JobsOhio has been developing an innovation strategy to attract and retain companies in the fastest growing sectors and improve vitality in urban settings. Historically, Ohio has faced obstacles in the innovation space, notably in the start-up ecosystem. In response, JobsOhio launched a strategy in 2020 focused on smart, strategic initiatives and investments to increase Ohio’s competitiveness that will create improvements across the innovation continuum.
Innovation Districts
In March, a new Innovation District in Cincinnati was launched. This first-of-its-kind partnership between JobsOhio, the University of Cincinnati, and Cincinnati Children’s Hospital Medical Center aims to accelerate more than 15,000 STEM graduates and $2 billion in research to bring up to 20,000 new jobs and $3 billion in annual economic impact.
Strengthening Ohio’s Innovation Economy
Our strategy takes form in three main initiatives:
Develop Innovation DistrictsWe will establish nationally competitive Innovation Districts in dense urban settings where large-scale, mixed-use development is adjacent to major academic and medical research anchor institutions, related firms, entrepreneurs, and spin-off companies.
Deploy Investment CapitalJobsOhio Investment Capital is a vehicle to co-invest with venture sponsors (venture capitalists, research institutes) to fuel scale-up healthcare and technology companies. These companies add vitality to Ohio’s economy and are positioned to become Ohio’s next great corporate leaders.
Assemble Expert AdvisorsWe will form an advisory group composed of anchor institutions, venture capitalists, and entrepreneurs to inform and catalyze Ohio’s competitive offerings. This group will benchmark these offerings and make recommendations that will improve innovation outcomes.
Financials
Statements of Net Position
December 31, 2020 and 2019 (In thousands)
These statements provide the combined financial information of JobsOhio and JobsOhio Beverage System (JOBS) as of December 31, 2020 and 2019. Current assets include more than $196 million of restricted cash that is to be used solely for the operation of JOBS’ liquor enterprise. JobsOhio has outstanding non-executed commitments of loans and grant totaling $262 million to companies for the purpose of job creation and retention; these commitments are not reflected in JobsOhio’s statements of net position. Please visit JobsOhio.com for more information on JobsOhio’s and JOBS financial statements
Statements of Revenues, Expenses, and Changes in Net Position
Twelve months ended December 31, 2020 and 2019 (In thousands)
JobsOhio
JobsOhio is a 501(c)(4) private nonprofit corporation and the sole member of JobsOhio Beverage System (JOBS), a 501(c)(3) private nonprofit corporation. The primary source of funding for JobsOhio is grants from JOBS. These grants enable JobsOhio to fulfill its economic development purpose by promoting job creation and new capital investment in Ohio through business attraction, retention and expansion activities.
JobsOhio Beverage System
On Feb. 1, 2013, JOBS purchased from the state an exclusive franchise for the sale of spirituous liquor throughout Ohio. In addition to the initial cash payment, JOBS committed to make supplemental payments to the state as further consideration for this acquisition based on the performance of the liquor enterprise. JOBS operates the enterprise in part through a contract with Ohio Department of Commerce and its Division of Liquor Control. JOBS grants the net profits of the liquor enterprise to JobsOhio. Please visit JobsOhio.com for more information on JobsOhio’s and JOBS financial statements.
While the world may have been knocked down in 2020, Ohio will be a leader as we get back up.
It is what we always do. Ohio is positioned to lead the nation in recovery and be a strategic partner for PPE development, and JobsOhio was created for times like these. While many states are revisiting their economic development activity in light of budget constraints as a result of the pandemic, we at JobsOhio recognize those leaders that supported the development of a private, nonprofit organization with a dedicated funding stream.
JobsOhio is in place to help chart the path forward in Ohio’s recovery. And as we celebrate our 10-year anniversary in July 2021, we honor the qualities of strength and resilience that make our state unique— and now, perhaps more than ever before, we look to the future with hope.
Download the 2020 annual report