Ohio Jobs Agency Has Cash Reserves< < Back to
Ohio's private economic development agency is in good financial shape.
That was the assessment of the JobsOhio president, John Minor Jr., who discussed the agency's financial audit released on Tuesday.
JobsOhio ended its 2013-14 fiscal year with $261 million in cash and investments on hand that will be put to use to create jobs in the state, according to The Columbus Dispatch.
Minor said about half of the nonprofit agency's cash is committed, off the books, to 129 projects still in the works that could create and retain about 38,400 jobs.
JobsOhio, created by Republican Gov. John Kasich, is funded largely by its $1.5 billion, 25-year lease of state liquor operations, which delivered a $214 million profit in the past fiscal year.