The single biggest job commitments announced statewide since 2011 are by companies expanding in southwest Ohio, based on this newspaper’s analysis of projects receiving tax incentives.
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THREE WAYS THIS MATTERS TO YOU
1. More job opportunities. Big new job announcements create direct employment opportunities at those companies, as well as numerous spillover effects on other local businesses.
“The new jobs coming in don’t just affect the ones who hold the jobs… Money spent on other things — meals out, going to the movies, buying a car, buying groceries, etc. — means that workers in other industry sectors also benefit. More income means more tax collection, so schools receive more funding, infrastructure generated by municipalities have more funding, so there’s more money available for police protection, road repair, etc.,” said Julia Heath, director of University of Cincinnati’s Economics Center.
2. Job retention at Ohio’s largest employers. When General Electric Co. announced plans in April 2014 to open a U.S. Global Operations Center in the Cincinnati area, creating 1,400 new jobs to the state, the company’s already strong presence and relationship with the state was given some credit for the win.
GE’s aviation division is based in the northern Cincinnati suburb Evendale. Subsidiary GE Appliances is based in Louisville, Ky. And GE Lighting is based in Cleveland.
In fact, GE has more employees in Ohio than any other state (presently near 16,000), including the corporation’s world headquarters in Connecticut, according to the company.
3. Potential for more new investment. Both Jeff Hoagland, president and CEO for Dayton Development Coalition; and Johnna Reeder, president and CEO of REDI Cincinnati, said the same thing: “Success breeds success.”
Attracting Fortune 500 company expansions from General Electric and Procter & Gamble catches national attention, forces other large companies to ask what’s happening in Ohio, and draws suppliers and vendors that want to do business with them.
“There’s still growth potential and I still think we have the people in this region to fill those jobs,” Hoagland said.