REDI Cincinnati and JobsOhio have great numbers for Southwest Ohio
When it comes to economic development, you have to let the numbers speak for themselves. Over the last eight years, REDI Cincinnati and JobsOhio have completed more than 384 new projects, bringing in 36,400 jobs, approximately $2 billion in new payroll and $4.4 billion in capital investment.
But that’s just an overview of what the eight-year partnership between the two entities has been able to create.
Since its founding in 2014, REDI Cincinnati has brought in more than 40,000 jobs to the Greater Cincinnati region, which includes capital investment of more than $6.2 billion. From its founding in 2011, through its 10th anniversary year in 2020, JobsOhio closed on more than 2,800 economic development projects, attracting 500 companies to the state while retaining or expanding 2,100 existing Ohio businesses. The agreements with those private-sector employers generated and/or retained more than 800,000 jobs and secured more than $45 billion in payrolls that generate more than $1.35 billion in Ohio State income taxes annually.
Those figures are, of course, statewide and don’t include more recent numbers. But a good portion of that economic development did take place in Southwest Ohio.
Perhaps more importantly, those two entities are still at the forefront of entrepreneurial business development, partnering in the area on JobsOhio’s Inclusion Grant program, which has led to the creation of new companies, new jobs and the continued vibrancy of the local economy. The program was launched in 2020 and is already a resounding success.
“It was really designed to offer more flexibility and allows us to focus on companies that historically we were unable to support due to the size of the business or the industry they were in,” says Cierra Clymer, director of international business development and inclusion, who oversees REDI Cincinnati’s efforts with the Inclusion Grant program. “It also allows us to be very targeted where populations and communities need additional support.”
JobsOhio’s Inclusion Grant program provides financial support for eligible projects in distressed communities and/or for businesses owned by underrepresented populations like minorities, women, veterans and people with disabilities across the state. Grant decisions are based on several project factors, including but not limited to company location, company ownership, jobs created and/or retained and project fixed asset investment. Support is intended for small to medium-sized companies with annual revenues of up to $25 million.
“JobsOhio and REDI Cincinnati have been working together since our inception, and it has really given us the opportunity to support both existing businesses in our region as well as attracting new businesses to the area,” adds Clymer, who has been with REDI more than seven years. “It gives us the opportunity to drive investment back into areas that have seen a lack of investment over the years.”
Three companies within the Cincinnati region were supported by REDI and JobsOhio through Inclusion Grants during the second quarter of this year, creating 19 new jobs with a payroll of near $1.5 million, while bringing in $2.8 million in capital investment.
“Congratulations to the three companies for their continued growth, and thank you to each of them for recognizing the strength of our region,” said Kevin Donnelly, REDI Cincinnati vice president for project management, in making the announcement last month. “Thanks to the support of JobsOhio through its Inclusion Grant, as well as visionary leadership throughout the Queen City, Cincinnati has become a national model for inclusive economic growth. The Brookings Institution recently cited Cincinnati as one of five examples of communities excelling in this space. REDI is proud to play a role in these efforts by supporting the growth of these three companies through the Inclusion Grant program.”
Including its first-quarter Inclusion Grant projects, REDI so far this year has supported regional growth through 43 new jobs, $2.97 million in payroll and $4.1 million in capital investment. Over the last six quarters, 33 businesses in Southwest Ohio have been supported by JobsOhio Inclusion Grants, adding 263 jobs and $7.8 million in total capital investment.
And it’s not just the startups that are benefitting from the Inclusion Grant program. One of the recipients of a second quarter Inclusion Grant this year was Acme Lock Company, an 88-year-old locksmith, door and hardware business, which specializes in service installation and distribution.
However, the Inclusion Grant program has kicked open the door for many budding entrepreneurs, including ROInsights, a Marcus Thomas Company, which provides custom analytics and technology stack solutions to help businesses optimize decision making, and Connecte, a minority-owned intelligent workforce management company that focuses on connecting technical talent with businesses.
Founded by Nathan Bauer and his University of Cincinnati college roommate Patrick Koman in 2018, ROInsights, is one company that knows the importance of numbers.
“We are an analytics-only agency, so we support marketing analytics for businesses and other marketing agencies,” says Bauer, who had been working in marketing analytics for 10 years prior to founding his company. “Our end goal is to help clients embrace the power of data analytics and technology to make better decisions.
“From a data perspective we do all sorts of things but really we offer end-to-end analytic solutions. So our front end is data strategy—understanding the people, processes and data we need go to succeed in a data-driven culture.”
As a part of its data-driven science services, ROInsights breaks down data silos, says Bauer, which allows client systems to talk to each other.
“So the genesis of data science is to build a single source of truth for your business,” adds Bauer.
While its clients include marketing agencies, ROInsights also works with retail and e-commerce clients.
“We also work with real estate businesses and health care,” says Bauer.
The Inclusion Grant awarded to ROInsights will be used to increase the company’s footprint in Cincinnati, opening a new office there as well as adding new hires, says Bauer.
The second quarter Inclusion Grant awarded to Connecte will be used primarily to facilitate growth, which is happening at a pace that is almost mind boggling.
“First of all, I would like to thank JobsOhio and Cierra for helping us get this grant,” says Vijayant Singh, who founded the company along with his partner, Suresh Iyer. “We are actually the world’s first medical-based smart workforce management platform.”
The platform connects enterprises with technical resources specializing in technology engineering and management, “especially when you need them on a contingent or project basis,” says Singh. “We are an option engine where people can say, ‘I need this help for six or seven months, and this is my budget.’ Then our tech sources can go in and show how they can help them meet the company’s requirements with their skill sets and price. So the tech sources can command their own price, but since there is no real overhead it is a win-win for both parties.”
The company offers three key products, says Singh.
The first is Connecte On Demand, which a company can use when it wants people to work on a project or contingent basis. A second solution is called Connecte Electrify, which Singh described as “a sustainability solution.” The third is called Connecte FieldTrack, which provides a way to manage upgrades in the field. Each of these solutions allows companies to enhance market share and break new ground in the digital economy, when they have a critical need for talent in the fields of science, technology, engineering, manufacturing and digital transformation—skills that have traditionally been in short supply.
“Obviously, we are excited about these solutions and feel there is a huge market,” says Singh. “We also feel great that the state of Ohio is playing a role in bringing these solutions to the forefront.”
Connecte has grown to the point where it now has 12 marquee clients in the Greater Cincinnati area, says Singh.
“In terms of future growth, we feel the sky is the limit,” he adds. “We have grown 10 times from last year to this year. And we expect that growth to continue because there is such a need in the marketplace. We feel that 10 times growth is sustainable for us over the next five years.
“The Inclusion Grant will help us accelerate our growth,” explains Singh. “We don’t need capital to sustain our business because our business model allows us to sustain ourselves. But the state of Ohio, by giving us access to capital, will be able to accelerate our growth—which in turn will create more high paying jobs in Ohio.”
So is there any advice for fledgling companies, entrepreneurs or dreamers in the Cincinnati area?
“My biggest piece of advice would be to network,” says Bauer, who also admits he didn’t know anything about REDI Cincinnati when ROInsights first opened its doors. “Networking is how we built our book for business in the first year or two. If we didn’t do any networking, we probably would have failed.
“People need to know who you are and what you do. They need to know what your core values are. If you do that, you’ll find great programs and great people like we did with REDI Cincinnati. People who are willing to jump in and help you grow—even if there is not an immediate business opportunity.
“If you network, you will always learn something new or get a unique perspective on how to run your business or your life.”
