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.
When the Digital Futures building officially opens to the public on September 23, the greater Cincinnati region will be one step closer to creating a world-class innovation district in Uptown Cincinnati. The highly anticipated building provides a transdisciplinary space to bring together University of Cincinnati (UC) experts for collaboration that will impact the community, region and global society.read more
A new economic development entity was formed in southern Ohio in 2013 from a $126,000 capital commitment by Fluor-BWXT Portsmouth (FBP), the contractor responsible for decommissioning and decontamination of the Department of Energy Portsmouth site. The Joint Economic Development Initiative of Southern Ohio (JEDISO), led by the economic development directors of Pike, Ross, Scioto and Jackson Counties, has become a driving force for economic development in southern Ohio.read more
“Try-it before you buy-it” concept has been disrupting the decision process. A pop-up community project allows you to “test drive” placemaking concepts and get community feedback and buy-in before spending a lot on a permanent installation.read more