Foreign Direct Investment in Ohio is a Priority for JobsOhio
Lee Crume
JobsOhio
The constant global chatter around trade wars and tariffs may make one wonder if foreign direct investment (FDI) could be headed for a decline in the United States. But the fact is the exact opposite is happening. International investment continues to rise in both the U.S. and Ohio. JobsOhio has announced six major FDI projects in 2018.
More than 3,700 foreign establishments from 49 countries operate in Ohio. Continued visits from foreign business federations like Keidanren reinforce that Ohio is an ideal location for international investments, in part because of JobsOhio’s client-first business practices.
That doesn’t happen by accident. For the fourth year running, JobsOhio joined our regional partners from across the state in Washington, D.C. for the 2018 SelectUSA Investment Summit, the United States’ highest profile event dedicated to promoting FDI in the U.S. Approximately 3,000 attendees from 64 international markets attended this year’s summit June 20 through 22. All attendees have a serious interest in investing in the U.S. and this event is the most efficient way to connect with global decision-makers to offer compelling reasons why they should make Ohio home.
Participants of previous SelectUSA Investment Summits (2013 to 2017) have announced more than $71 billion in greenfield investment projects in the United States, $1.5 billion of it happening in Ohio. It was at a SelectUSA Investment Summit where the Ohio team connected with Sofidel, an Italian paper manufacturer, ultimately creating the largest private-sector investment in Circleville in decades. The $300 million tissue paper factory, expected to be complete by the end of 2018, will bring 300 jobs to the region.
As potential foreign investors consider Ohio, we like to remind them that JobsOhio strengthens the relationship by:
- offering site selection
- helping with talent acquisition.
- navigating taxes and regulations.
- finding trusted service providers such as attorneys, bankers and accountants.
- making introductions to potential resources, including trade associations, workforce development programs and nearby universities.
We, along with our regional and local economic development partners, take a client-centered approach to serving international businesses, from mid-market companies to multinational corporations, that simplifies the decision-making process. Throughout the entire investment process, our unified network of REDOs and LEDOs partner with companies to ensure a positive experience. Our expertise and client-first approach turn the overwhelming into the possible.
The theme for the 2018 Investment Summit was Invest Here. Grow Here. Succeed Here. Let’s all continue our work to make sure “here” is in Ohio.
Louis Dreyfus Company Announces Record Breaking Project in Wyandot County
Louis Dreyfus Company (LDC), a leading merchant and processor of agricultural goods, announced plans for its state-of-the-art soybean processing facility to be located in Wyandot County, Ohio. The project will bolster the region’s economic growth in the critical food and agriculture sector. LDC’s facility will be located just outside of the City of Upper Sandusky; it’s first location in the State of Ohio.
read moreMapping a Pathway to Successfully Access New All Ohio Future Fund Opportunities
The Ohio General Assembly, in its budget bill (HB33) approved July 3, 2023, authorized up to $750 million in state budget resources to the All Ohio Future Fund (R.C. 126.62). The fund is to be used for infrastructure to compete for — and win – more sizeable economic development projects such as the Amazon, Honda-LG, and Intel megaprojects that Ohio landed in recent years.
read moreWilmington DRIVE Program Makes Strategic Acquisition
The Wilmington DRIVE (Downtown Revitalization Investment Vibrancy Effort) Program, adopted a year ago, with the goal of enhancing and accelerating Wilmington’s downtown revitalization and encouraging creative mix-use development, made its first strategic acquisition, closing on the Masonic Lodge Site (28 W. Main St.) on September 29, 2023.
read more