Letter From JobsOhio Leadership

JobsOhio Chairman of the Board Josh Rubin & President & CEO J.P. Nauseef

We are pleased to present the 2023 Annual Report and 2024 Strategic Plan for JobsOhio, Ohio’s privately funded, nonprofit economic development corporation. 2023 marked our 13th year as an organization, and continued to demonstrate how JobsOhio is a competitive advantage for our state and the businesses and people we serve.

Companies throughout the United States were impacted by continuing pressures related to inflation, resulting in slower company decision-making and a 35% decline in economic development deals. These economic headwinds continued to slow dealmaking across the nation, but Ohio still ranked number three among all states in deals, seven for new jobs, and three for capital investment. Ohio has been bolstered by the momentum built by Team Ohio over the last four years and the resilience that comes with our continued focus on industrial diversity.

In collaboration with the DeWine-Husted Administration and our regional network partners, JobsOhio achieved exceptional results, securing $14.4 billion in capital expenditure commitments. This success was underscored by 327 project wins, 16,457 jobs created, and an impressive $1.1 billion in new payroll while retaining 27,836 current Ohio jobs and $1.78 billion in payroll.

Project Wins

Ohio attracted significant business ventures in 2023, encompassing corporate headquarters, manufacturing facilities, research and development hubs, and logistics sites. JobsOhio projects spanned all 10 of our target economic sectors and touched every state region. Leading the way were renowned names such as Amazon, Joby Aviation, Wells Fargo, and Worldpay.

In addition to these successes, Ohio maintained its ranking of having the #1 labor productivity index growth rate in the Midwest, a ranking it has held since 2011. We secured the #9 position in global investment nationwide and have held the #2 spot in megaproject investment for two consecutive years.

Ohio was ranked #1 in the Global Groundwork Index by Site Selection magazine. This recognition is based on a meticulous job creation analysis, capital expenditures, and strategic infrastructure development from 2019 to 2023. Moreover, Columbus and Cincinnati rank among the top 5 most active metropolitan cities in the United States for infrastructure and economic expansion projects.

Rebuilding

Ohio’s transformation didn’t happen overnight. Just 13 years ago, our state faced severe economic challenges, losing 18.4% of its key sector jobs between 2001 and 2010. But we refused to give up.

JobsOhio was launched as a bold experiment – a first-of-its-kind, state-authorized nonprofit built with private stable financial resources – and set out to rebuild Ohio’s industrial core. JobsOhio’s mandate was clear: provide unique competitive advantages that attract and retain client companies in nine targeted industrial sectors. As a private, nonprofit, and independent entity, we offered a streamlined, confidential, and results-oriented approach. Since our inception, we’ve collaborated with the state and our regional partners to orchestrate a major turnaround from 2011-2019 and have emerged as a national leader in economic growth since 2019.

Through 2023, Ohio has gained more than 279,000 new job commitments in our ten targeted industry sectors. Those industries also brought $117 billion in capital investments, ranging from manufacturing facilities and equipment to laboratories, data centers, and logistical operations. Upon completion, those hard assets and jobs become Ohio residents and will contribute to our state’s economic prosperity for decades.

Return on Investment

JobsOhio operates with a meticulous focus on fiscal discipline, ensuring that every dollar invested in incentives and services returns more dollars in payroll taxes on net new jobs added. Our commitment to this principle has yielded an impressive $17 return in taxes and fees to Ohio’s treasury for every $1 investment in economic development projects from JobsOhio. Ours was also the only state-level economic development organization to rank in the top five in the nation for the four key efficiency metrics of jobs created, number of projects, amount of capital investment, and generated payroll.

The Perfect Place for Growth

Team Ohio consistently proves to be a catalyst for economic development as success permeates throughout the state. While companies will continue to feel the pressure of inflation, we have worked hard to make Ohio their competitive advantage. We now boast several top-10 cities and the highest number of top-100 micropolitans (16) – smaller cities with populations between 10,000 and 50,000 – among all 50 states, based on Site Selection’s 2024 Governor’s Cup rankings for project wins and economic growth. Five of the 16 micropolitans rank in the top ten for performance, including Findlay, Sidney, Greenville, Defiance, and Wooster, and Ohio is the only state to rank in the top five for projects and projects per capita over the last six years.

We will continue to be aggressive with business development to keep our pipeline full. At JobsOhio, we understand the many options available to companies nationwide and the competitive landscape in which they operate. We’re not just focused on the state’s bottom line but also on creating a better future for you, your business, and all Ohioans. We’re passionate, appreciative, and relentless in our pursuit of your success and exceeding expectations at every turn.

So, let’s dream BIG together. Let’s build something extraordinary. Let’s make Ohio the place where your business can thrive now and for generations to come. Let’s grow, together.