Passing JobsOhio—the state’s private, economic development agency—was a hotly debated issue at the beginning of the General Assembly. Its passage has helped turn Ohio into one of the nation’s leaders in job creation and economic recovery. In fact, over the past 12 months, Ohio ranks fourth in the nation in job creation and first in the Midwest.
JobsOhio has been active in the energy sector, which obviously continues to be an important issue in our region of the state. Some of the largest job gains have come in the energy field as we try to tap into Ohio’s vast oil and natural gas resources. I have supported these investments because I know the positive affect they will make, not only in eastern Ohio but throughout the entire state.
During the second quarter—April through June 2012—businesses committed to creating hundreds of new manufacturing jobs as well. During the economic recession, Ohio was hit especially hard in large part because of losses in manufacturing. For Ohio to recover, it makes sense that manufacturing will play a major part. The most recent JobsOhio report indicates that some of those jobs are coming back.
Through its coordination with JobsOhio, Allied Machine & Engineering Corp. in Tuscarawas County committed to creating 30 new jobs, resulting in $1,020,000 in new annual payroll. Allied Machine was one of 77 companies statewide that committed to creating jobs and expanding its payroll. That kind of news was not common in Ohio just a couple years ago.
The success of JobsOhio is due in large part to its talent in making smart investments that yield positive returns on investments. That means that the tax revenue generated from such businesses surpass the amount of money that the state invested in the first place.
Most of the projects have positive investment returns within three years—some even within the first year. In the long run, that results in an increase in jobs, as well as increased tax revenues that go towards maintaining public services.
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