Issue 1 by the Numbers

State Issue 1 for Jobs goes before Ohio voters on May 4.  Issue 1 is a statewide ballot measure that would authorize renewal and continuation of the highly successful Ohio Third Frontier (OTF) program.  OTF, a public-private partnership created in 2002, provides support to a number of programs and partners across the state including TechColumbus, whose TechStart program provides funding and business formation services to local technology startups.  Central Ohio has received $250 million in OTF investments which have in turn attracted more than $1.5 billion in follow-on funding. 

The purpose of OTF is to firmly establish Ohio as an innovation leader and to fuel long-term economic growth by creating jobs in our state.  OTF is an investment in Ohio’s future whose returns speak for themselves.  Here’s a look at OTF, by the numbers:

• OTF has created 48,000 jobs (through June 2009); in particular, employment in high-tech sectors in Ohio grew significantly from 2004 – 2008 and at a faster rate than in almost all other Midwestern states.
• OTF has created, attracted or capitalized 571 startup companies (through June 2009) statewide. 
• OTF has attracted $3.2 billion in follow-on dollars (federal, state, local, private and foundation funds) on top of the $473 million it has expended (through June 2009) on technology-based programs.  From 2003 – 2008, venture capital investment in Ohio grew almost 2.5 times faster than in the U.S. – 20.4 percent as compared to 8.6 percent per year. 
• Fifty percent of the State’s OTF investment through December 2008 has been repaid through tax receipts.  The original investment, now projected to be $1.35 billion, is forecast to be fully repaid by 2014.
• OTF’s total return on investment (ROI) has averaged 22 percent per year over the life of the initiative. 

Learn more about Issue 1 for Jobs and its impact on Ohio’s future.  Visit  www.unitedforjobsohio.com