Leading figures discuss economic development in Ohio

YOUNGSTOWN, Ohio (WKBN) – Some of the leading figures of economic development both locally and in Ohio shared Tuesday what it takes to get new companies and have existing ones expand.

Members of the new Lake to River Economic Development group and JobsOhio — of which Lake to River is a part — discussed their successes.

Ryan Squire with JobsOhio went through the economic development process by describing how Intel settled in Ohio — how it started with an email from a Lorain councilwoman and ended up at JobsOhio.

“It took us three days from the first ask until when we responded to Intel and gave them a viable site and they said, ‘Wow, let’s learn more.'”

Squire says since 2019, Ohio has put itself in a leadership position for economic growth.

He brought with him statistics showing that between 2019 and 2023, Ohio saw an 85 percent increase in capital expenditures, a 47 percent increase in the number of projects, new payroll was up 27 percent and there was a 14 percent increase in new jobs — but economic development takes time.

“It can be a two, three, four year time. I mean, these are big business decisions right,” Squire said.

It’s not just new businesses they’re after but also expansions of current businesses.

Lake to River plans to meet with 200 companies this year to see if they can help.

“So we can get intimate with that company to find out what their goals are in five years and 10 years,” said Mike McGiffin with Lake to River.

What no one could talk about were prospective projects and expansions. Companies want confidentiality along with talent and shovel-ready sites.

“So we know that businesses when they’re trying to make a big decision, big investment, whether they’re moving or growing, they want that privacy right? So we operate in a culture of confidentiality. That’s why JobsOhio is a private nonprofit,” said Alexa Sweeney Blackann with Lake to River.

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