JobsOhio Targets Funding of Middle-Market Companies
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.
Housing demand outstrips supply so much that developers can be – and are – very selective about where they choose to invest. Factors like land price, annexation and zoning processes, infrastructure costs, density, and community design specs will make or break a developer’s go-or-no-go decision. This panel discussion will provide insights into developers’ decision-making processes, as well as help direct the focus of local economic developers to those areas in which they can add value in housing discussions.
The Call for Presentations for the OEDA Annual Summit to be held September 4-6, 2024, at the Glass City Center in Toledo, Ohio, is now open. The Annual Summit offers a unique platform to highlight innovative solutions, spark discussions, and share impactful strategies that have positively influenced communities. The Annual Summit organizers are seeking speakers to provide a variety of high quality educational sessions to attendees.
The Ohio Economic Development Association has announced JP Nauseef and Dr. Ned Hill as the keynote presenters for the upcoming Ohio Basic Economic Development Course, April 29-May 2, in Dublin, Ohio. JP Nauseef, the President and CEO of JobsOhio, which has been described as the “best in class state economic development partnership,” will welcome the Basic Course students and Keynote the course. Dr. Ned Hill, a recognized national expert in economic growth, regional development, and economic development, will kick off the course by covering “What is Economic Development and What is the Job of an Economic Development Professional?”