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Economy and Business


Though still in legal limbo, JobsOhio funds have been transferred
The state's liquor-profit lease with the private group is complete
by WKSU's STATEHOUSE CORRESPONDENT JO INGLES


Reporter
Jo Ingles
 
In The Region:

The state’s non-profit job creation entity has taken an important step, even as a lawsuit against JobsOhio moves forward in court. Ohio Public Radio’s Jo Ingles explains.

Ingles on JobsOhio transfer

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The transfer of the state’s wholesale liquor business to JobsOhio is complete. So is the state’s initial $1.75 billion bond offering, the deal that allows investors to loan the state money against the income of future liquor profits.

All of which means JobsOhio will now have a 25-year sustainable, dedicated funding source to carry out its economic development mission.

The transfer comes, though, as a lawsuit over the constitutionality of JobsOhio proceeds at the Ohio Supreme Court. The groups bringing that lawsuit warn the state could now be on the hook to repay all of that money if the court rules JobsOhio is unconstitutional.

But Gov. Kasich thinks it’s good to forge ahead. “As the state continues its work to make Ohio a friendlier place for business, it is essential that JobsOhio is a partner in growing jobs across the state," he says. "And today’s action will allow them to do that more effectively.”

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