Q2 Recap: Attracting Talent, Investments, and Innovation

Business Leaders and Community Stakeholders,

I am pleased to provide this recap of JobsOhio's Q2 Public Board of Directors meeting, which took place at the Digital Futures building on the University of Cincinnati’s campus last Thursday. I want to extend my gratitude again to Mayor Aftab Pureval, our local Cincinnati board member Tom Williams, outgoing REDI Cincinnati board chair George Vincent, and new REDI Board Chair Amy Spiller for their warm welcome and support.

Governor DeWine said it best: "This is Ohio's Time!"

But to really understand the significance of those four words, you must consider what Ohio has been through to get here. We faced significant challenges as a state from 1945 to 2010 and had been on a downward trend, especially during outmigration in the 1960s and ‘70s, until it reached a crisis stage as we entered the 21st century when Ohio lost 18.4% of its jobs in nine critical industrial sectors.

Like Ohioans do, we rolled up our sleeves and got to work. The state legislature began addressing the state’s overall business climate and created JobsOhio in 2011. Those reforms, coupled with post-pandemic and geopolitical factors favoring reshoring, set the stage for a major comeback. Since 2011, JobsOhio has helped secure a 21.6% increase in high-value jobs across our nine targeted sectors, plus military and federal installations. These economic development wins have generated more than $117 billion in capital facility investments and 219,000 good-paying new jobs.

Ohio has gone from a Bottom 10 state in 2011 to a Top 5 State for economic development in each of the last five years. This extraordinary achievement is all thanks to the work of Team Ohio, which includes the visionary policies from the DeWine/Husted Administration and the Ohio Legislature, together with JobsOhio and our regional JobsOhio Network Partners statewide.

Now, as we look ahead to the next decade, Ohio is poised to become a Top 10 state economy across the board as our performance in industrial job creation, economic diversification, supply chain attraction, facilities construction, and induced job generation will continue to drive our state forward.

Ohio’s Progress and Present Challenge, According to Lieutenant Governor Jon Husted

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During our meeting, we were honored to have Lieutenant Governor Jon Husted join us virtually to share his insights on Ohio’s economic progress and the pressing challenge of boosting job-ready talent availability for the open positions today and the skilled roles of the future.

Lt. Gov. Husted highlighted the incredible investments being made by global companies like Intel, Microsoft, and Google in Ohio, amounting to tens of billions of dollars. These investments are not only driving growth for internationally recognized corporations but also for the small- and medium-sized businesses that become the rapidly growing supply chain for the semiconductor industry, the data industry, and the artificial intelligence industry.

The pressing challenge we face, according to Lt. Gov. Husted, is talent availability. Ohio, like many other states, faces a demographic reality where more people are nearing retirement than entering the workforce.

In response, the state is focusing on providing opportunities for every Ohioan who is willing and able to participate and have a chance to succeed in Ohio’s growing economy. This includes investing in career centers for high-demand fields and programs like OhioTechCred that allow Ohioans to earn industry-recognized credentials for free.

In emphasizing the importance of collaboration between industry partners and educators to drive talent growth, Lt. Gov. Husted recognized JobsOhio’s unique role in recruitment, particularly in attracting individuals with ties to Ohio and in working directly with industry partners to offer tailored solutions for companies looking to relocate or expand to the state.

Tackling the Talent Challenge Head-On

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We project that Ohio needs to produce or find an additional 540,000 STEM and technically certified people over the next ten years just to fill the current and anticipated needs of technology, advanced manufacturing, and life sciences companies. Workforce constraints are not unique to Ohio; they are a nationwide issue. But Ohio cannot be content with being a "Glass Half Full State."

Kristi Clouse, JobsOhio’s Senior Managing Director of Talent, reported on how JobsOhio is addressing the challenge of attracting, developing, and retaining employees head-on through our Talent Acquisition Services. With a roster of more than 35 subject matter experts and a data-driven approach, JobsOhio becomes an integrated part of each client company’s team, developing tailored talent strategies that address immediate and long-term needs.

“JobsOhio is energized by this talent challenge, and we’re going to take it on as a team,” Kristi noted.

PANEL: The Need for Talent

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Three Southwest Ohio companies shared their experiences working with JobsOhio’s talent team directly and the impact it had on them and their businesses:

After the panel, Alex Conley, Director of Find Your Ohio, provided a deeper dive into the program that’s building a solid job placement platform for highly skilled job seekers and employers looking for them. Enhancing our talent acquisition services through initiatives like Find Your Ohio further underscores our dedication to attracting and retaining the brightest minds and ideas in the nation.

Upcoming Events and Opportunities

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Looking to just the next few months, Cincinnati is gearing up for an exciting summer and fall. We're excited to welcome back Black Tech Week in July. In August, The Cincinnati Open (formerly known as the Western and Southern Open) will not only showcase the region but also celebrate our active-duty military and Gold Star families through our Hometown Heroes partnership.

September brings a packed lineup: the Forbes Under 30 Summit will again bring the world's leading young entrepreneurs to Ohio, with the highly anticipated Local List announcement coming up in July. JobsOhio's sponsorship of the U30 Summit is designed to introduce businesses and their talent to all that Ohio has to offer, and there's no doubt that Cincinnati has plenty! The city will also host Oktoberfest ZinZinnati, the largest Oktoberfest celebration outside of Munich, Germany.

There is so much for people to discover about Cincinnati, where innovation doesn’t rest, and apparently, the people don’t either!

Looking Ahead in 2024

Economic development is about positioning Ohio to thrive not only for the present but for generations to come. It's about creating a legacy of opportunities so our kids and grandkids can find meaningful work and enjoy an incredible quality of life here in the Buckeye State.

Ultimately, it's about building a state where everyone who works hard has the chance to earn a good living, raise a family, and know the American Dream and the promise of a brighter future is alive and well.

Ohio remains well-positioned for growth, with a strong project pipeline and JobsOhio's unwavering commitment to driving economic development. As we accelerate through 2024, JobsOhio stands steadfast in its commitment to eight growth-driving priorities:

1. Finalize Talent Investments
2. Support Statewide Site Development
3. Aggressive Business Development
4. Accelerate Ohio Innovation Strategies
5. Capitalize on Federal Opportunities
6. Scale Small Business Initiatives
7. Complete 5-year Strategic Plan
8. Capture the intel Supply Chain

If we continue to execute these priorities, Ohio WILL emerge as a Top 10 state economy for growth and a leader in the industries of the future for decades to come.

Very respectfully,

J.P. Nauseef

President & Chief Executive Officer

JobsOhio