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JobsOhio and Partners Unveil Cincinnati Innovation District
More than 70 Percent of 2018 Projects Involved Small and Mid-Market Companies
For Immediate Release: March 1, 2019 NEWS RELEASE
JobsOhio, Statewide Partners Collaborate to Achieve Record Results for New Jobs, Payroll and Capital Investment
COLUMBUS, Ohio – JobsOhio, the state’s private economic development corporation, today released its 2018 results, which shows 2018 was a record year for commitments of new jobs, payroll and capital investment.
In collaboration with local, regional and state partners, JobsOhio worked on 266 projects with companies that committed to create a record 27,071 jobs, an increase of 19 percent over the previous year, and a record $1.3 billion in new payroll, an increase of 23 percent year over year. The 2018 results also include record capital investment of just over $9.6 billion.
The logistics and distribution, advanced manufacturing and healthcare industries brought in the largest number of jobs. The energy and chemicals industry, fueled by the abundance of natural gas from the Utica and Marcellus shale formations, saw the most capital investment, followed by the advanced manufacturing and automotive industries. Of the 266 projects, 73 percent involved small and middle-market enterprises.
A breakdown of the 2018 JobsOhio performance metrics includes:
- Total number of projects: 266
- New jobs: 27,071
- New jobs payroll: $1.3 billion
- Retained jobs: 69,905
- Retained jobs payroll: $4.2 billion
- Capital investment: $9.6 billion
“Our 2018 job creation, payroll and capital investment are the highest that our associates and partners have ever achieved,” said JobsOhio Board Chairman Jim Boland. “These strong results illustrate the commitment of JobsOhio and its statewide network to generate economic opportunities for Ohioans.”
JobsOhio President and CIO John Minor also credited working closely with state, regional and local partners for 2018’s record numbers.
“These results reflect our culture of collaboration and client focus that makes Ohio more attractive for companies,” Minor said. “Along with our partners, JobsOhio has a strong foundation to address important business issues, and we are well-positioned for the future.”
In December, Ernst & Young released its EY2018 US Investment Monitor, which ranked Ohio first for job creation in business investment projects for the second year in a row. Ohio also ranked first for total project wins and fourth for capital investment. JobsOhio also plans to leverage the McKinsey & Co. independent performance assessment to advance strategic initiatives for future impact.
For more information about JobsOhio’s 2018 results, download the 2018 JobsOhio Annual Report and 2019 Strategic Plan.
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About JobsOhio
JobsOhio is a private nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion efforts. JobsOhio works with six regional partners across Ohio: Appalachian Partnership for Economic Growth, Columbus 2020, Dayton Development Coalition, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.
For more information, contact:
Matt Englehart, JobsOhio