JobsOhio Program Support and Resources
JobsOhio leadership has worked swiftly and taken immediate action to enact the following items to support businesses in Ohio. For additional resources, click here.
JobsOhio COVID-19 Impact Efforts Overview
JobsOhio is grateful for Governor DeWine’s principled and steady leadership and our team has been honored to serve our fellow Ohioans during these unprecedented times. While COVID19 has presented many challenges, JobsOhio’s private structure, financial resources, mission-oriented team with private industry experience, and the reach of the JobsOhio Network all came into play when Ohio needed it most. Please find below a link to our impact efforts to date. In summary, since March 15, JobsOhio has made available more than $250 million to fund 10 new economic development programs and up to an additional $250 Million for procurement of over 50 million units of life saving PPE.
Click here to see the report.
JobsOhio Community Bank Loan Guarantee
JobsOhio, Peoples Bank and First Federal/Home Savings Bank announced a partnership to support existing small business clients with maintaining operations and payroll during the COVID-19 pandemic. JobsOhio has committed up to $50 million to assist Peoples Bank and recently merged First Federal Bank and Home Savings Bank – with providing lending support to companies negatively affected by the coronavirus pandemic. This program will enable additional lending for companies throughout Ohio, as well as support community banks as proud Ohio employers. For additional information or to see if you are eligible, please visit the relevant bank’s site.
JobsOhio Innovation Fund
JobsOhio has created the JobsOhio Innovation Fund – a new program to provide Ohio’s entrepreneurial businesses with resources to soften the near-term impact of COVID-19 at this critical time. JobsOhio will allocate up to $50 million total toward this fund, and partner with Ohio’s current network of venture investors to provide loans into highest priority innovative investor-backed companies during this time.
JobsOhio Rapid Deployment Initiative
In order to continue to be a value-add partner, JobsOhio has enhanced our incentive programs for existing JobsOhio client companies to allow for maximum flexibility and support during this unprecedented time. These adjustments will help address unexpected pandemic-related business costs, improve access to funds and an immediate limited waiver of compliance. Our team is in the process of reaching out to eligible companies.
Workforce Retention Loan Program
JobsOhio rapidly established the Workforce Retention Loan Program to provide qualifying JobsOhio client companies with financial support to help them to maintain employment levels during the COVID19 outbreak. Only JobsOhio existing client companies meeting certain defined criteria are eligible to participate, and JobsOhio has already notified the qualifying companies. The financing offered is an unsecured, forgivable, interest free loan allowing monthly draws to assist with payroll expense in support of employee retention. If the participating company retains its employees over a six-month period, the loan is eligible for forgiveness.
Submissions for the Workforce Retention Loan Program have now closed.
JobsOhio and Appalachian Growth Capital to Provide Southeast Ohio Businesses Capital Amid COVID-19 Pandemic
JobsOhio announced today that it has made a $2 million investment in Appalachian Growth Capital, LLC (AGC). JobsOhio’s assistance to Appalachian Growth Capital will boost its sustainability at a time when small businesses in the region need reliable capital and partnerships to move forward. Southeastern Ohio companies supported by AGC can be confident they will have lending support to sustain their businesses during this pandemic and to help them grow after it has passed. To read more, click here.
A Free Pair for Healthcare
Crocs, Inc., a global leader in casual footwear for women, men and children, launched a new program called A Free Pair for Healthcare offering healthcare workers across the United State the opportunity to get a free pair of Crocs, making 7,000 available while supplies last. JobsOhio supported Crocs initiative by committing an additional 7,000 pairs to the effort. Thank you to our partners at the Dayton Development Coalition and Heidelberg Distributing Company for your support in accessing points of care in the Greater Dayton Area Hospital Association. Healthcare workers can visit crocs.com/freeforhealthcare for more information.
One-Time Liquor Buy Back
Bar and restaurant owners affected by COVID-19 can return high proof liquor products purchased between February 12 – March 15, 2020. This opportunity is also extended to those with temporary (F2) permits for events scheduled between March 12 and April 6, 2020. If a business has questions about this program, they should reach out directly to the Liquor Enterprise Service Center (LESC) at 1(877)812-0013 or by emailing OhioLiquorInfo@Com.Ohio.gov.
On May 4, five payments were made to bars and restaurants for the liquor buy back program for a total of $9,000, making the total paid-to-date approximately $1.5 M.
Six-Month Deferral of Payment on JobsOhio Loans
In light of the significant impact COVID-19 has on the economy and business, and in an effort to support its borrowers, JobsOhio will be offering a 6-month deferral of payment of loans (no principal and no interest) for the nearly 50 companies that have executed loan agreements with JobsOhio. These are businesses that have committed to a total of 9,150 jobs and $521.7 million in payroll for the people of Ohio.