Posted on 03/02/2021 4:57:12 PM PST by CheshireTheCat
Fueled by exploding liquor sales during the coronavirus pandemic, JobsOhio used the extra money it made last year to fund more than $200 million in pandemic relief programs, according to the state economic development nonprofit’s new annual report.
The pandemic-relief spending, which JobsOhio officials said eventually could reach $500 million, included:
$62.2 million on more than 40 million pieces of personal-protective equipment
$50 million on forgivable loans to clients who agreed to keep employees for six months
$50 million helping guarantee loans made by port authorities, government agencies that help local economic-development projects get favorable borrowing terms...
That’s because of the $317.6 million in profits JobsOhio made from the state’s liquor enterprise, compared to $278.3 million the year before, thanks to record retail sales to Ohioans whose entertainment options were severely limited in 2020.
JobsOhio was set up in 2011 to mostly replace a state government economic-development agency, given exclusive rights to manage the state’s monopoly on liquor sales. It uses the profits to fund its operations. While it’s a private nonprofit exempt from state public-records laws, Gov. Mike DeWine appoints its board members and helps hire its CEO....
(Excerpt) Read more at cleveland.com ...
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