Global Engagement Adds to Ohio’s Job Pipeline
Foreign direct investment (FDI) benefits Ohio’s economy in many ways and is playing a major role in contributing to Ohio’s job pipeline. First quarter results show that Ohio projects overall are up 13.5 percent and job numbers are up 34 percent compared to this time last year, thanks in part to FDI. International investment in Ohio is up more than 11 percent from last year, leading to a 68.5 percent increase in FDI-related jobs.
In the first quarter, international companies from Europe and the Middle East committed to expanding in Ohio, including Borgers, a German automotive supplier, and Alkermes, a growing biopharmaceutical company from Ireland.
Trade shows like 2017 SelectUSA Investment Summit in Washington, D.C., attended this week by JobsOhio and economic development partners from across the state, have been an important source of new international investment in the past. Ohio’s team made crucial connections at SelectUSA in 2015 that attracted Italy-based Sofidel to central Ohio, creating 310 jobs and a nearly $260 million investment. Connections made at that same event resulted in U.K.-based Mineral Insulated Cable Company’s choice of Northwest Ohio earlier this month as its U.S. entry point.
JobsOhio and its partners hope to once again make and nurture strong connections with global investors from numerous industries looking to expand and hopefully bring jobs to Ohio.
Join a discussion, hosted by the Greater Ohio Policy Center (GOPC), to learn about the recently passed HB168, which establishes the bona fide purchaser defense (BFPD) into Ohio law. The establishment of the BFPD into Ohio law better aligns Ohio law with federal standards, and aims to encourage the redevelopment of lightly contaminated brownfield sites.read more
In between our email newsletters and event updates, be sure to go follow OEDA’s new and updated social media channels to ensure you stay up-to-date with our events, economic development news, and other communications!read more
OEDA has been listening and learning as the issues around systemic racism have been brought to the forefront and captured the nation’s attention. It is devastating that the deaths of Ahmaud Arbery, Breonna Taylor, and George Floyd—and, sadly, the indisputable video evidence of their killings—became the catalysts for our country to collectively pay attention and admit that systemic racism exists. What is also indisputable is that the time for change is now.read more