Ohio’s Governor & Lt. Governor Letter
Governor Mike DeWine & Lt. Governor Jon Husted
We are pleased to introduce the 2022 Annual Report for JobsOhio, which highlights our state’s exceptional economic accomplishments over the past year. Ohio’s success is a testament to the spirit of partnership and collaboration that exists between JobsOhio, its six regional network partners, and the state. We are honored to share the extraordinary successes achieved last year that are significantly advancing Ohio’s global reputation as a premier hub for innovation and opportunity.
The foundation of Ohio’s economic achievement lies in the diversity of our industries and the adaptability of our workforce. This year, we welcomed major investments across a variety of sectors, such as technology, automotive, aerospace, and pharmaceuticals, creating new job opportunities for Ohioans and reinforcing the strength and versatility of our economy.
We began 2022 with Intel’s announcement that the company will be establishing new “fabs” that will manufacture silicon wafers so central Ohio can transform into the Silicon Heartland. This monumental project set the stage for a year of outstanding economic development and job creation.
JobsOhio quickly closed capital investment deals with other major companies such as Ford, SEMCORP, and General Motors. These companies chose Ohio as their home for growth and development, thanks to our highly skilled workforce, excellent infrastructure, and business-friendly environment. Their ambitions in our state are massive and long-range.
Mid-year, we saw Ford’s commitment to expanding the production of a new line of commercial electric vehicles (EVs) in Avon Lake. This project not only underscores Ohio’s position as a leader in automotive manufacturing but also reflects confidence in our Ohio workforce’s ability to maintain its top rating for productivity while transitioning to new EV platforms.
Building on this momentum, Honda staked its electric vehicle future in Ohio with substantial capital investments, initiating their transformation to electrification across multiple plants in the state. Furthermore, Honda broke Ohio’s foreign direct investment record by announcing a joint-venture partnership with LG Energy Solution, investing billions in constructing an EV battery production plant in Fayette County.
In the healthcare sector, Medpace, a clinical contract research organization, committed to expanding its Cincinnati headquarters, adding new jobs, and pursuing the next generation of pharmaceutical and medical innovations. This expansion is a testament to Ohio’s growing strength in the life sciences and our commitment to fostering cutting-edge research and development.
Our state’s strengths have not only caught the attention of industry-leading companies looking to expand operations but also top bond rating agencies. Moody’s affirmed Ohio’s Aa1 Issuer Rating with a positive outlook, while Fitch upgraded our bond rating to ‘AAA’ – both recognizing our state’s sound financial management, ability to absorb economic cyclicality, and tax policy changes.
JobsOhio has played a pivotal role in attracting world-class companies to our state, demonstrating its effectiveness in structuring deals, impact investing, and showcasing Ohio’s economic strengths, skilled workforce, and quality of life. JobsOhio even put Ohio’s message on buildings and billboards in high-cost coastal tech hubs, successfully marketing Ohio as the ideal destination for businesses and talent seeking to invest, build, and thrive.
As our state’s economic engine forges ahead, we are excited about the opportunities that await us. Our administration will continue to lead workforce development efforts in collaboration with JobsOhio, expanding programs that ensure Ohioans are job-ready and equipped with the skills and knowledge necessary to succeed in the jobs of tomorrow.
In addition, we will continue to invest in infrastructure, making Ohio an even more attractive destination for businesses seeking to expand or relocate. With a strong portfolio of shovel-ready sites, we will be well-positioned to attract further investment and job creation, driving our economy forward and cementing our position at the epicenter of American manufacturing, services, supply chains, and logistics.
We have full confidence that Ohio will continue to set the standard for economic growth, innovation, and opportunity. We look forward to working together with JobsOhio to build a stronger, more prosperous, and more resilient Ohio for our citizens today and for generations to come.
Once again, we salute JobsOhio and its network partners for their enormous efforts in 2022 to create a brighter future for Ohio. Your team’s dedication and hard work are essential to Ohio’s success, and we are proud to stand with you as we work together to shape the future of our great state.
