GOVERNOR ENCOURAGED BY PRELIMINARY BUSINESS GROWTH FIGURES FOR 2001
Numbers Show Companies Continue to Invest in Ohio

COLUMBUS (December 28, 2001) – Governor Bob Taft today expressed his confidence in Ohio’s economic development climate upon reviewing preliminary figures highlighting business assistance provided by the State to companies and Ohio communities in 2001.

More than 800 firms committed to expansion projects in 2001, representing a significant investment in Ohio. They include: 117 projects of $10 million or more; 69 companies that have committed to create more than 100 jobs over the next three-years; 56 international business development projects; and 358 projects representing manufacturing operations and/or utility plants.

“We must build on our strong manufacturing base while creating the high-growth, high-tech jobs of the 21st century,” Taft said. “The commitment by these firms to expand their businesses in Ohio will help us do both.”

Under Taft’s leadership, the Ohio Department of Development provides assistance to firms interested in expanding or locating their operations in Ohio. These business expansion and relocation projects continue to build upon Ohio’s reputation as one of the nation’s top five states for new facilities and expansions.

The following assistance was provided in 2001:

• Job Creation Tax Credit agreements representing a commitment of more than $1.2 billion in investment and the expected creation of 10,221 jobs and retention of 15,866 jobs;
• 2,363 notices of intent for the purchase of $4.7 billion in new machinery and equipment through the Manufacturing Machinery and Equipment Investment Tax Credit Program;
• $39.6 million in [166] Direct Loans to 19 companies, investing more than $153 million in the state’s economy;
• $19 million in Ohio Investment in Training Program grants to more than 220 Ohio companies, resulting in the training of more than 40,000 people;
• $9.3 million in [629] Roadwork Development grants to 38 companies and/or communities;
• $5.8 million in [412] Business Development grants to 33 companies and/or communities;
• $7.4 million in Regional Loans to 41 companies;
• Assistance to more than 35,000 prospective small business entrepreneurs;
• Counseling assistance to 6,153 minority businesses through the Minority Contractors and Business Assistance Program.

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