Week in Review: Dec. 8, 2024

BUSINESS/CORPORATE

Lt. Gov. Jon Husted announced that 597 employers received funding in the September round of TechCred, which will enable Ohioans to earn 7,421 tech-focused credentials. Artificial intelligence (AI) remained a leading industry in the round and was the most requested type of credential at 1,300. The next application period will run from Thursday, Jan. 2, 2025 to Friday, Jan. 31, 2025 at 3 p.m.

ECONOMIC DEVELOPMENT/URBAN REVITALIZATION

The JobsOhio Board of Directors met Thursday at which time Chair Josh Rubin said that while JobsOhio has been a "tremendous success" on many fronts, Ohio has changed since 2011 and so the organization needs to continue to evolve. They have received input from stakeholders, who he believed will be "very pleased" in the direction JobsOhio will go. He expressed enthusiasm about 2025 in general as well, while noting the year is not over and "exciting opportunities" still remain. In his report, President and CEO J.P. Nauseef told the board that work on the new five-year strategic plan, "JobsOhio 2030" plan, includes full realization of the "Silicon Heartland," achieving opportunities through artificial intelligence (AI), having a skilled technical workforce, leveraging innovation districts and hubs, producing energy to support the state's diverse industries and making a competitive brand to reflect Ohio's business climate and diversity.

HOUSING/HOMELESSNESS

October home sales for Ohio reached 11,717, a 4.8% increase from the same month in 2023, when sales were 11,176. The average price was $290,223, a 6.1% increase from the October 2023 average of $273,554. For the year to-date, home sales activity is up 0.9% compared to the same period in the prior year, reaching 110,785 versus 109,828 a year earlier. The average price for January through October was $291,616, up 7.2% from the average of $271,981 seen in the comparable period of 2023.

INTEL

Intel CEO Pat Gelsinger retired effective Sunday, Dec. 1, with the company announcing Monday that two of its senior leaders will serve as interim co-CEOs during a permanent search process. Intel and the Biden administration had recently announced they had finalized a $7.86 billion funding award under the CHIPS and Science Act, with $1.5 billion for the company's project in Ohio. The interim co-CEOs are David Zinsner, executive vice president and CFO, and Michelle "MJ" Johnston Holthaus, who had also been appointed to the new position of CEO of Intel Products. The leadership structure at Intel Foundry will remain unchanged, according to the announcement. In September, Intel announced plans to shift foundry operations – including its Ohio plant -- to an independent subsidiary inside of Intel. Gov. Mike DeWine and Lt. Gov. Jon Husted issued a joint statement in response to the retirement, saying Gelsinger had been "the driving force" in Intel's selection of Ohio. DeWine and Husted also expect to talk with the interim co-CEOs soon to offer any continued support the project will need.

LOCAL GOVERNMENT

Communities in 45 counties will share $10.9 million to support community development projects funded by the federal Community Development Block Grant (CDBG) Allocation Program, according to the DeWine administration and the Ohio Department of Development (DOD). The funding will go to 49 communities and will assist in completing a variety of infrastructure improvements and public services aimed at spurring economic growth and improving the quality of life for residents.