JobsOhio Leadership Letter

JobsOhio Chairman of the Board Robert C. Smith & President & CEO J.P. Nauseef

As we reflect on the past year and look forward to the future, we are pleased to present the 2022 Annual Report and 2023 Strategic Plan for JobsOhio, Ohio’s privately funded, nonprofit economic development corporation.

Established in 2011, JobsOhio’s mission is to drive job creation, innovation, and new capital investments, positioning Ohio at the leading edge of nine essential industrial sectors, plus Military and Federal installations. Our work fosters job opportunities, increases payrolls, and supports economic prosperity statewide to benefit Ohio’s workforce, families, communities, and quality of life. And 2022 was a year of remarkable achievements!

In collaboration with the DeWine/Husted Administration, Ohio’s General Assembly and Congressional Delegation, and our regional network partners, JobsOhio secured four megaproject wins and hundreds of other investments and expansions involving leading global companies such as Abbott, Ford, General Mills, GM, Intel, LGES, Honda, Medpace, P&G, SEMCORP, and Sierra Nevada.

OHIO’S RECORD-SHATTERING YEAR OF DIVERSE & GENERATIONAL PROJECT WINS

In 2022, JobsOhio posted 296 project wins. Some highlights include:

• Committed corporate capital project investments reached an astounding $30.87 billion, tripling the previous record of $9.56 billion set in 2017.
• Projects will create 26,323 new jobs, a total second only to the record 29,000 jobs secured in 2021.
• New jobs committed in 2022 are higher paying and will generate a record $1.84 billion in new payrolls, which will deliver a record $954 million in new annual payroll tax receipts to the Ohio treasury.
• Ohio jumped from #11 to #2 nationally in megaproject impact, securing four megaprojects, including Intel, Ford, Honda/LG Energy Solution, and Medpace.
• Ohio is now the top-ranked state in the midwest for Foreign Direct Investments (FDI) after winning record-setting capital commitments in 2022.

MARKETING INVESTMENT ADDS TO OHIO’S MOMENTUM

In 2019, Governor DeWine challenged JobsOhio to elevate C-suite decision-maker awareness and consideration of Ohio’s competitive advantages. And in 2020, JobsOhio embarked on a bold brand marketing campaign utilizing a mix of digital and traditional channels – search, social, programmatic, audio, connected TV (CTV), linear TV, partnerships, out-of-home, direct mail, and sponsorships.

This award-winning¹ 20-month campaign wrapped up in June 2022. The Ohio is for Leaders campaign increased total impressions by 23% more than the goal, reaching 5.2 million C-Suite and decision-makers in our target sectors and driving 172% more unique monthly users than expected to our website. We also saw an increase in C-Suite perceptions about Ohio, with 90% of CEOs and site selectors saying they would consider locating business operations here.

Additionally, earned media results have reached record levels. In 2018 JobsOhio's earned media reach was 1.3 billion. In 2022, fueled by megaproject wins and targeted national media outreach, earned media reached 21.5 billion people. This represents a 1,554% increase in 4 years. JobsOhio now owns almost 40% of the share of voice among nine economic development peers.

While there is still much work to be done, we are pleased with the outcomes and the growing brand equity for Ohio that continues to fuel our deal pipeline.

RETURN ON INVESTMENT FOR OHIO HAS NEVER BEEN HIGHER

JobsOhio's Board of Directors has stressed the importance of fiscal discipline, and we take that responsibility very seriously. We measure the return on investment in two primary ways: 1) the payroll taxes from net new jobs must always be more than the incentives invested to win the deal, and 2) our staff must continuously improve skilled dealmaking and program management to return more value and productivity through new project payroll and capital investment.

Since 2019, project wins are up 12%, new job generation jumped 7% (to 97,218), new capital investments soared by 76% (to $53 billion), and new payroll grew 30% (to $5.6 billion) as compared to the 2015-2018 period. Moreover, the value of JobsOhio projects continues to return more payroll tax to the state per incentive dollar than ever before, driving Return on Investment (ROI) to record levels. In fact, the net present value earned for Ohio per each JobsOhio full-time employee surged from $3.1 million in 2018 to $6.7 million in 2022.

This ROI is compounded by building a culture focused on customer service with a 2022 Net Promoter Score of 82, which marks a third consecutive year above 80 – the benchmark for world-class service. This means companies continue to want to work with JobsOhio over the long term to build prosperity.

OHIO’S COMPETITIVE OUTLOOK IS BRIGHT

Ohio has one of the most diverse state economies in the U.S. and is diversifying at a faster pace than the rest of the Midwest, making it better positioned to weather economic headwinds. The capital investments secured in 2022 accelerated this trend, and more opportunities are coming. Currently, more than one dozen megaprojects (as of May 2023) are in active discussions, marking a 700% increase compared to JobsOhio’s annualized average. Four of these projects could bring more than 1,000 jobs each, and our pipeline of other significant projects continues to expand.

With Ohio near the top of every national ranking and leading the Renaissance of the American Midwest, our state’s economic development outlook remains strong and bright. It’s a hard-earned and exciting time – the product of a unique collaborative we call Team Ohio. This powerful connection of common purpose extends from the DeWine/Husted Administration, the business community, and our JobsOhio Network regions and reaches every local community in the state.

Team Ohio is working and is truly Ohio’s Competitive Advantage.

¹ _{Ohio is for Leaders received a Platinum Muse Award, Platinum Viddy Award, and a Gold dotCOMM Award.}