2019 Annual Report |
2020 Strategic Plan

2019 was an exciting year of change for Ohio. As we watched our state grow and thrive, we turned our attention to three new strategic initiatives: talent, sites and innovation. These initiatives will continue to move Ohio forward in the next decade.

This report will give you a glimpse into the incredible potential for Ohio’s future—and how we’re helping to make that dream a reality.

Arrow pointing down


“Collaboration is at the center of our success. Working with JobsOhio, we continue to build a world-class workforce with the skills necessary to propel the state’s economy forward.”

Mike DeWine

Mike DeWine

John Husted

Jon Husted
Lt. Governor

“We believe that by working together, JobsOhio will achieve its true potential–and we are ready to partner with anyone who strives to live, work, invest, and achieve their American Dream!”

Robert C. Smith

Chairman of the Board, JobsOhio
Robert C. Smith

J.P. Nauseef

President & CIO, JobsOhio
J. P. Nauseef

Ohio is an extraordinary and diverse state, located in the center of America’s heartland and just a day’s drive from 60 percent of the North American population. Here in Ohio, businesses large and small, entrepreneurs, and innovators can realize their goals. Every day we are building on our history of innovation, entrepreneurship, and hard work to move Ohio forward.

As the 21st largest economy in the world, and the seventh largest in the United States, our strong business climate and diverse workforce support a variety of industries from manufacturing to agriculture, and from healthcare to aviation and energy.

Ohio’s vibrant city centers, natural parks, and world-class arts, sports and entertainment provide a quality of life that is second to none. Whatever you are looking for, you can find it here in Ohio.

Collaboration is at the center of our success. Working with JobsOhio, we continue to build a world-class workforce with the skills necessary to propel the state’s economy forward. 

Led by a board of directors who are stakeholders in business, real estate, higher education, and the military, JobsOhio is the state’s private economic development corporation. Building on our historical strengths, JobsOhio’s industry sector teams collaborate with six regional partners and local economic development organizations to identify how Ohio can empower your business and help it grow.

Together with JobsOhio, we are building a strong economic development strategy for Ohio and a strong foundation for growth. We are committed – as is JobsOhio – to serve all Ohioans, and provide opportunity across Ohio from large cities to our small towns and villages. We are working every day to provide opportunities for economic growth, and investing in infrastructure, broadband internet, and education.

We hope you will reach out to the JobsOhio team to learn how Ohio can be a partner in your success. Opportunity. Innovation. Teamwork. You can find it here in Ohio.

Very respectfully yours,

Mike DeWine

Mike DeWine

John Husted

Jon Husted
Lt. Governor


In the last decade, Ohio has seen a host of developments that have transformed our state’s economy, including:


A $78 billion energy industry, which is powered by abundant natural gas and natural gas liquids derived from the Utica and Marcellus shale formations


A multibillion-dollar data center industry fueled by global companies including Amazon Web Services, Facebook, and Google


A surge in global investment through nearly 400 international projects since 2013


Ohio has the No. 2 highest advanced manufacturing location quotient in the region – 2.02x the national industry concentration

As the decade drew to a close, Ohio saw positive economic trends grow and persist even further:


A 4.2% unemployment rate as of December 2019


A labor force that is 5.84 million strong – its highest level since 2010 (with a growth of about 81,000 from December 2018 to December 2019)


A record high private employment of 4.83 million, the highest since 2001


Over $960 million in venture capital investments in 2019 alone – the second highest on record


In 2019, JobsOhio saw its second-best year in terms of project volume and new payroll commitments, and its third-best year in terms of capital investment. After a record year in 2018, JobsOhio worked hard with new leadership to rebuild its pipeline of potential investment and drive results.

Total Project Pipeline*

Data as of December 31, 2019
*Potential results if all projects are realized.













Year-Over-Year Results

JobsOhio Metrics 2017 2018 2019
Total Projects 272 266 306
New Jobs 22,788 27,071 22,770
New Jobs Payroll $1.1 Billlion $1.3 Billion $1.2 Billion
Capital Investment $9.6 Billlion $9.6 Billion $7.0 Billion

2019 Targeted Industry Results

Industries Jobs Created Capital Investment ($M)
Logistics and Distribution 5,145 $722
Healthcare 4,285 $192
Advanced Manufacturing 3,163 $657
Information Services and Software 2,398 $488
Automotive 1,886 $446
Financial Services 1,387 $17
Food Sciences and Agriculture 1,252 $680
Shale Energy and Petrochemicals 901 $2,982
Aerospace and Aviation 889 $256
Other 1,464 $521
Totals 22,770 $6,960

“This larger, brand-new facility provides access to enhanced capacity, greater automation and a vibrant talent pool, allowing us to support business growth and increase our speed-to-market capability.”

Crocs logo

Andrew Rees
President and CEO, Crocs


“We’re proud of the partnership Ohio has formed with the ELITE program and look forward to the growth opportunities this collaboration opens up for businesses.”

ELITE logo

Jon Husted
Lt. Governor of Ohio


“After an accurate analysis, we chose Ohio and particularly the Cincinnati area because of the excellent position, the great industrial presence and the high professionalism of JobsOhio and REDI Cincinnati, who helped us in the whole process.”

Modula logo

Antonio Pagano
CEO, Modula USA


“Ohio has been a great place to do business, serve customers and create jobs; as a result, we are thrilled to develop two state-of-the-art fulfillment centers in Akron and Rossford.”

Amazon logo

Alicia Boler Davis
Vice President of Global Customer Fulfillment, Amazon



Ohio’s future is bright. We’ve identified key trends to monitor as our economy continues to evolve, and these will help us become a top state for business.

JobsOhio is a state-wide organization, but we also have a local touch. Our regional partners are connected to the local community. That connectivity drives leads and investment, ensuring that we understand the community as much as they do.

Go Forward: Five-Year Strategy

Five year strategy

Building economic resilience

JobsOhio will continue to focus on its nine core industries, selected due to their contribution to Ohio’s economic diversity and their potential to support the state’s ability to thrive in any economic climate. Because of this strength, Ohio has an opportunity to facilitate growth in additional sectors, including federal and defense investments.

How JobsOhio will address this challenge


Leveraging third-party, data driven market analysis and insights from the statewide listening tour regarding opportunities and threats to Ohio becoming the best state for business, JobsOhio developed new strategies for the future.


Expanding our investments to include federal and military installations is critical. We plan to build employment bases tied to government investments, which is historically less dependent on economic cycles and thus more resilient. As we leverage these federal and military partnerships, we will also establish a statewide initiative to drive federal workforce retention, expansion and attraction. The desired outcome is for Ohio to be recognized as the best place in America for military missions, military members, military families and veterans!


Add up to 10,000 new federal jobs over five years.



Increasing air service capacity for business travel is essential for growth. We will work to increase the number of destinations served at the state’s seven commercial airports by partnering with key stakeholders to attract new air service to domestic and international routes.


Add up to two new international routes and up to three new domestic routes over five years.



We will support Ohio’s Statewide Broadband Strategy, which laid out an aggressive plan to expand and enhance the state’s broadband network, making access to service available to all Ohioans. JobsOhio was pleased to host Federal Communications Commission (FCC) Chairman Ajit Pai in January 2020 to discuss high impact investments.


Support Ohio’s digital infrastructure strategy, which includes telehealth pilots, access to financial institutions and digital literacy initiatives by partnering with government assets and the Office of Broadband.


Shaping the future of work

Emerging technologies have dramatically changed the landscape of the American workplace in the last decade. Due to a greater demand by companies for tech and computer science graduates, there is an opportunity to shape Ohio’s workforce for the future to fill existing skill gaps.

How JobsOhio will address this challenge


In order to support the transition to a highly automated future workplace, JobsOhio will build out talent-based initiatives and reskilling efforts.


Build Ohio’s workforce of the future and spur accelerated production of tech-talent degrees and


Increase in-demand degrees up to 50% in five years.



We will expand our Talent Acquisition Services Program, which helps to match the right talent to the right position at the right company. The focus of this program is scaling customized and employer co-designed talent acquisition solutions for companies that are already located and agreed to expand or committed to expand in Ohio.


Complete up to 60 projects per year.


Focusing on site availability

Site availability and turnkey solutions are essential to be considered for economic development projects. The Ohio Site Inventory Program will ensure that all authenticated sites are ready for immediate development on day one.

How JobsOhio will address this challenge



We will work to expand the availability of sites by investing in site plans and clean up through the authentication process. These sites will increasingly be located in regions where the addition of new jobs is much needed.


Add 20-35 new authenticated sites that will bring 10-20 significant deals to Ohio over five years.


Implementing an inclusive economic development growth strategy

Economic development needs vary dramatically across the U.S. and Ohio, and tailored solutions are increasingly important to regions. In an effort to bolster economic growth in underserved regions, JobsOhio will focus on initiatives designed to promote more equal growth across the state.

How JobsOhio will address this challenge



With our inclusive growth strategy, we will partner with distressed communities across the state, utilizing experienced economic development leadership and resources to help communities leverage core strengths and assets.


Add up to 4,000-6,000 new jobs over five years.


Ohio is the most innovative state in the Midwest

Following the State’s lead, JobsOhio is launching an innovation strategy in order to attract companies in the fastest growing sectors and improve vitality in urban and rural settings. This strategy will improve competitiveness across the entire innovation continuum — from increasing the amount of research, to the formation of new businesses, capital attraction and deliberate placemaking.

How JobsOhio will address this challenge



Establish up to three nationally competitive Innovation Districts in dense urban settings where large-scale, mixed-use development is adjacent to major academic and research anchor institutions, related firms, entrepreneurs and spin-off companies.


3x increase in annual computer science degrees, 20% increase in federally funded medical research, development of 2 million-square-feet of state-of-the-art mixed-use real estate, and minimum 10x anchor co-investment


“When looking for a partner in the U.S. it became obvious to us that Ohio would be the partner for us. The state has an extremely connected and collegiate business community, who is committed to supporting mid-market businesses. There is a depth of talent and dynamic business leadership, at all levels, which is critical for our success. JobsOhio has shown true leadership in building a partnership with us and we are confident that this will be highest success entrance into the U.S. market for our business.”

Thomas Tyler

Thomas Tyler
Global Head of Sales, ELITE


Statements of Net Position (Unaudited)


December 31, 2019 and 2018 (In thousands)

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December 31, 2018 December 31, 2019 Cash and cash equivalents – unrestricted – JOBS Cash and cash equivalents – unrestricted – JobsOhio Cash and cash equivalents – restricted – JOBS Investments – JobsOhio Inventory – JOBS Loans – current portion – JobsOhio Accounts receivable – JOBS Accounts receivable – JobsOhio Prepaid expenses – JOBS Prepaid expenses – JobsOhio 46,696 78,635 163,360 764,304 87,066 8,096 1,566 2,257 1,277 1,347 1,154,604 998,145 1,158 799 81,655 1,081,757 2,236,361 223,677 108,679 167,589 472,254 81,825 7,924 3,749 1,583 1,194 1,068 1,069,542 1,053,342 1,158 975 91,960 1,147,435 2,216,977 Assets: Current Assets: Total current assets Long-term assets: Intangible asset – liquor franchise, net of amortization – JOBS Capital assets, net of accumulated depreciation – JobsOhio Capital assets, net of accumulated depreciation – JOBS Loans, net of loss allowance – JobsOhio Total long-term assets Total assets $ $ $ $ $ $

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Accounts payable – JOBS Accounts payable – JobsOhio Accrued liabilities – JOBS Accrued liabilities – JobsOhio Special obligation bonds payable – current portion – JOBS Bond interest payable – JOBS Capital lease payable – current portion – JobsOhio 24,222 2,209 62,721 134,285 46,720 27,947 24 298,128 311,189 1,283,115 76 1,283,191 1,581,319 Liabilities: Current liabilities: Total current liabilities Long-term liabilities: Special obligation bonds payable – JOBS Capital lease payable – JobsOhio Total long-term liabilities Total liabilities 42,439 2,157 50,559 141,655 45,845 28,524 10 1,332,547 3 1,332,550 1,643,739 $ $ $ $

Net investment in capital assets – JOBSNet investment in capital assets – JobsOhioUnrestricted – JOBSUnrestricted – JobsOhio799(146,615)799,700655,042 Net position:Total net position1,1581,15897531,462539,643573,238$$$$


These statements provide the combined financial information of JobsOhio and JobsOhio Beverage System (JOBS) as of December 31, 2019 and 2018. Current assets include more than $163 million of restricted cash that is to be used solely for the operation of JOBS’ liquor enterprise. JobsOhio has outstanding, non-executed commitments of loans and grants totaling $315 million to companies for the purpose of job creation and retention; these commitments are not reflected in JobsOhio’s statements of net position. Please visit JobsOhio.com for more information on JobsOhio’s and JOBS’s financial statements.

Statements of Revenues, Expenses, and Changes in Net Position (Unaudited)


Twelve months ended December 31, 2019 and 2018 (In thousands)

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December 31, 2018 December 31, 2019 Retail net liquor sales Wholesale net liquor sales Distribution center revenue 977,689 349,200 7,400 2,698 378 1,337,365 900,036 333,945 6,851 2,399 283 1,243,514 Operating revenues: JOBS: JobsOhio: Interest income – loans Fees and other Total operating revenues $ $ $

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Cost of goods sold Sales commissions Liquor gallonage taxes Amortization of intangible asset – liquor franchise Service fees Supplemental Payment Other 784,775 74,930 51,322 55,197 16,856 61,319 11,588 11,239 1,230,963 106,402 Operating expenses: JOBS: Marketing Total operating expenses Operating income

139,464 13,737 5,819 4,717 JobsOhio: Economic development programs Salaries and benefits Professional services Administrative and support 10,757 1,131,669 111,845 118,537 15,810 6,290 5,099 727,017 67,358 49,475 55,197 16,738 48,199 11,192 $ $ $ $

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Bond interest, net – JOBS Investment income – JobsOhio Other, net – JOBS (53,182) 23,276 5,308 81,804 573,238 655,042 Nonoperating revenues (expenses): Change in net position (24,598) Total nonoperating revenues (expenses) Net position, beginning of period Net position, end of period (54,301) 9,026 4,974 71,544 501,694 573,238 (40,301) $ $ $ $


JobsOhio is a 501(c)(4) private nonprofit corporation and the sole member of JobsOhio Beverage System (JOBS), a 501(c)(3) private nonprofit corporation. The primary source of funding for JobsOhio is grants from JOBS. These grants enable JobsOhio to fulfill its economic development purpose by promoting job creation and new capital investment in Ohio through business attraction, retention and expansion activities.

JobsOhio Beverage System

On Feb. 1, 2013, JOBS purchased from the state an exclusive franchise for the sale of spirituous liquor throughout Ohio. In addition to the initial cash payment, JOBS committed to make supplemental payments to the state as further consideration for this acquisition based on the performance of the liquor enterprise. JOBS operates the enterprise in part through a contract with Ohio Department of Commerce and its Division of Liquor Control. JOBS grants the net profits of the liquor enterprise to JobsOhio. Please visit JobsOhio.com for more information on JobsOhio’s and JOBS financial statements.


As JobsOhio and its partners across the state take on these challenges, we invite you to discover Ohio for yourself. Whether you are looking for great partners to support your business growth or a fantastic place to raise a family, we welcome the opportunity to help you find it in Ohio. These strategic initiatives in talent, sites and innovation will fuel job growth in the state – and we are excited to see how the next decade will transform Ohio.

“We are a service organization. We are here because we love Ohio, we love the mission of JobsOhio and we believe that our job is to introduce the world to the Ohio we know: the best place to live, work, invest in a business or bring your career, to live your version of the American Dream.”

J.P. Nauseef

J.P. Nauseef
President & CIO, JobsOhio