JobsOhio Targets Funding of Middle-Market Companies

Jul 27, 2017 | News, Newsletter

David J. Robinson.
The Montrose Group,LLC.

Growing and prosperous companies in the middle market, defined as those companies with annual revenue between $100 million and $1 billion, face numerous challenges as they decide to expand their business and market. The two most often sited challenges to growth by these companies is:

  • Financing their expansions
  • Recruiting and retaining talent

JobsOhio, the private sector economic development corporation for the state of Ohio, has helped many middle market companies solve the first challenge, and grow in Ohio through its JobsOhio Growth Fund Loan. From June 2016 through May 2017, JobsOhio invested $37,700,000 of loan proceeds into 12 projects that leveraged $453,551,994 of private capital investment. Because of these investments 1,632 jobs will be created with a cumulative payroll of $59,204,836 and the retention of 814 jobs. The average loan size was $3,140,000.

For more details about this program and a detailed list of the 12 projects funded during this period, click HERE.

A Stronger Workforce through Understanding Mental Health and Addiction

About three months ago, we launched our Recovery Within Reach campaign, a first-of-its-kind effort to educate Ohioans about the financial effects of opioid addiction — and to connect them with treatment options close to their homes.

Our goal is to create a new way of talking about addiction, one in which people consider the facts and practical realities of how substance use disorder affects their lives. Not long ago, Gov. Mike DeWine challenged all of us in state government to think of ways we could help Ohioans navigate the opioid crisis that has affected our state for so long. For us, that meant considering the financial effects of addiction — and providing tools and trainings to help Ohioans and financial advisers talk about addiction and access care.

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Newark Development Partners continues to make strides in Downtown Newark

Newark Development Partners (NDP), the community improvement corporation for the City of Newark, continues to further development in the Downtown through various projects. The sale of the Hudson Avenue Church with surrounding property, the renewal of the Downtown Special Improvement District and the commencement of construction at the Historic Arcade are all recent successes for the City of Newark.

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