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.

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The Dayton-Montgomery County Port Authority Board of Trustees voted unanimously Monday to boost both business expansions, approving deals that will shield construction projects at both sites from state and local sales taxes.

The trustees approved a capital lease financial structure to exempt from sales taxes a $175 million expansion at the Cargill refining plant in Sidney, a project expected to add 12 jobs to a workforce of 293 people.

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