News & Press
JobsOhio Achieves Industry-Leading Transparency Recognition
As a private nonprofit economic development corporation, JobsOhio has been committed to clearly and consistently reporting on key business metrics since its inception in 2011. The steward of a private funding source responsible for driving job creation and new capital investment in Ohio, JobsOhio supports companies across in-demand industries through financial incentives, site selection assistance, workforce development, and more. Its private nonprofit status means it is not subject to public records disclosure, but JobsOhio takes transparency seriously and goes far beyond the requirements for nonprofit disclosure.
JobsOhio balances transparency and competitiveness while utilizing its private nonprofit structure, which is essential to maintaining client and project confidentiality. This structure gives Ohio an advantage as it contends against other states and countries for jobs and investment. During project negotiations, JobsOhio ensures client confidentiality is protected and that competitors do not see offers. Once a project is complete, JobsOhio publicly shares all its executed agreements and loans on the JobsOhio website.
In its ongoing commitment to transparency, JobsOhio undergoes third-party reviews from the following organizations:
Candid
JobsOhio has been in the top 1% of 1.8 million nonprofits in the United States for transparency, earning the Candid Platinum Seal of Transparency for seven consecutive years. Candid, an organization that ranks nonprofits for information sharing, introduced the GuideStar Seals of Transparency in 2013 to address the most asked questions about nonprofits, including whom they serve with their programs, how they are governed, how they are funded, and how they measure impact. Participating nonprofit organizations voluntarily choose whether to meet Candid’s Bronze, Silver, Gold, or Platinum levels of public disclosure, with the Platinum Seal being the most prestigious recognition Candid awards to nonprofits.
Standards for Excellence Institute
JobsOhio is accredited by the Standards for Excellence Institute. The national institute founded the Standards for Excellence®: An Ethics and Accountability Code for the Nonprofit Sector. Accreditation demonstrates a nonprofit’s commitment to practicing the highest level of ethics, accountability, and transparency. The accreditation process consists of a three-part application process, including a review by Standards for Excellence Institute staff, a review from an experienced team of peer reviewers, and a final review by the national Standards for Excellence Council, which is comprised of professionals with extensive nonprofit experience and specialized expertise in areas such as legal, finance, or human resources. JobsOhio is one of 160 nonprofits nationwide to receive this accreditation and has been accredited since 2018.
Financial Audits
JobsOhio is wholly funded by an independent private source – the profits from the JobsOhio Beverage System (JOBS) liquor enterprise. JOBS’ financial statements are audited annually and reviewed quarterly by a certified public accounting firm, currently Deloitte & Touche. These financial statements are posted on JobsOhio’s website, providing transparency to JOBS. The Ohio Auditor of the State’s Office also conducts an annual compliance and control review of JobsOhio, concluding zero material findings in JobsOhio audits for the last 13 years. The fiscal year 2024 JobsOhio Compliance & Control Report is available here, and additional reports can be found at https://ohioauditor.gov/auditsearch/search.aspx.
Measuring Success
In 2022, a third-party report published by IMPLAN empirically quantified the ripple effects of 3,200+ economic development projects JobsOhio and its regional partners executed between 2011 and 2021. From a fiscal perspective, the report found that JobsOhio projects led to approximately $16.6B in state tax revenue (when accounting for both construction and operational impacts) – affirming that JobsOhio’s economic development strategy creates a very high return. Said another way, for every $1 JobsOhio invests in economic development projects, an estimated $17 of state taxes are generated over time.
JobsOhio exists to help companies and their people thrive in Ohio. Operating as a private nonprofit is critical to the effectiveness of its programs and services largely due to how quickly JobsOhio can help companies meet their growth goals compared to publicly funded economic development models. Companies who choose Ohio to relocate or expand consistently share sentiments about the ease and speed at which they can grow alongside Team Ohio. When asked about the decision to build a manufacturing facility in Ohio, Anduril Industries’ founder Palmer Luckey shared, “There are some states that are really good at pushing you out and slowing you down, and there are others that are great at pulling you in and speeding you up. And that’s what Ohio is.”
Learn more about JobsOhio and its corporate governance here.