Mindy McLaughlin
Manager of Foreign Direct Investment
An Overview
JobsOhio was created in July 2011 by Governor John Kasich and the Ohio
legislature to lead the state’s economic development efforts. It is a private, nonprofit corporation that is significantly different from the state’s previous
approach and unique in the country.
Objectives
• Create, retain & expand jobs
• Attract new capital investments
• Client-focused and metrics-driven
Making it Work
• JobsOhio’s nine industries and four business functions are led by general managers who are
experts in their respective industries.
• Nine-member board, made up of dynamic business leaders who operate on a global scale.
• Six regional network partners with deep ties to local businesses, enhancing economic
development opportunities.
Targeted Strategy
JobsOhio is organized to focus on nine industries and four business functions that
drive the state’s economy. Using a private-sector, approach, JobsOhio is led by
experts in these selected areas.
Target Industries
• Energy
•
Logistics
• Automotive
•
Headquarters &
Consulting
• Financial Services
•
Back Office
• Information Technology
•
Research &
Development
Focus on the driving industries
and business functions that have
the greatest impact on job
creation, retention & attraction.
• Advanced Manufacturing
Work with regional organizations
that have the pulse of local
businesses to maximize our
chances for success
• Aerospace and Aviation
Continue sustainable economic
development for Ohio through
positive return on investment.
Key Business Functions
• Food Processing
• Biohealth
• Polymers and Chemicals
JobsOhio Network
Why Ohio?
• Strategic location
• Strong business climate
• Skilled workforce
• Robust infrastructure
Ohio’s Improved Tax Environment
• Corporate Franchise Tax
 Eliminated on January 1, 2010
• Tangible Personal Property Tax
 Eliminated
• Inventory Tax
 Eliminated – No inventory tax in Ohio.
• Real Property Tax
 Real property, or real estate, which includes land and improvements to land
(buildings, etc.) is subject to property tax in Ohio. The taxable value of real
estate is 35 percent of market value. The effective tax rate applied to the
assessed value varies by school district.
• Unemployment Tax
 Wage base is first $9,000 paid to each employee in a calendar year and is taxed
2.7% for new employers.
Lowest Tax Rates on New Capital Investment in the Midwest – Ernst & Young 2011
Foreign Direct Investment in Ohio
FDI is defined by 51% foreign ownership in a company or parent
company
Approximately 40% of our active projects are international
Top sources of investment are Japan, Western Europe, and
Canada
Strategy on Attracting FDI
Focus on industries and technologies where Ohio excels
•
•
•
•
Broad-Based Manufacturing
Energy
Agribusiness
Information Technology
Strategies on attracting companies from each of these sectors are closely tied
to the strategies for attracting them domestically
Retention & Expansion efforts are key
Top Countries by Number of Jobs
60,000
50,000
40,000
30,000
Number of Jobs with Foreign-Owned
Companies
20,000
10,000
0
Japan
Germany
United Kingdom
Canada
France
Top 5 Global Companies in Ohio
16,000
14,000
12,000
10,000
8,000
Number of Employees
6,000
4,000
2,000
0
Honda (Japan)
Aldi (Germany)
Alimentation
Couche-Tard
(Canada)
Bridgestone (Japan) Reed Elsevier (U.K.)
Sources of Investment from Asia
COUNTRY
Japan
India
China - Hong Kong
China
South Korea
Malaysia
China - Taiwan
Thailand
Singapore
# OF JOBS
50,846
1,330
1,174
894
416
270
161
60
30
# OF
ESTABLISHMENTS
517
20
11
9
10
2
4
1
5
Largest Asian Companies in Ohio By Country
(200 or more employees)
Japan:
Honda (13,500 employees)
India
Tata America International Corporation (400 employees)
China- Hong Kong:
Associated Hygenic Products LLC (350 employees)
TTI Floor Care North America, Inc. (350 employees)
China:
Powers and Sons (320 employees)
Malaysia
Emery Oleochemicals LLC (260 employees)
South Korea
Hyundai Ideal Electric Co. (200 employees)
Top Industries for Asian Investment
Automotive
Advanced Materials
Polymers and Chemicals
How AAPI Can Help?
• Make JobsOhio aware of potential attraction or expansion
projects
• Carry Ohio’s message of a sound investment strategy to
international markets
Questions?
www.jobs-ohio.com
614-224-6446
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