COLUMBUS (AP) — Ohio’s private, nonprofit job-creation agency is doubling its staff and expanding its outreach efforts now that it’s gone to market with a $1.5 billion bond sale.
President and Chief Investment Officer John Minor told board members today that JobsOhio has been working with a “skeleton crew.” That’s largely because of a legal challenge to the constitutionality of its funding structure.
In January, JobsOhio proceeded to sell bonds backed by future liquor proceeds despite the lack of resolution. Proceeds will help fund additions to its 22-member staff, including managing directors overseeing biohealth and agribusiness.
Minor reported job creation and retention in targeted industries fell from about 83,000 jobs paying $4.7 billion in 2011 to about 76,000 jobs paying $3.4 billion last year. He said projects involving 50,000 jobs are in negotiation.