January 8, 2013 – JobsOhio may finally get its $100 million for economic development. Gov. John Kasich’s privatized, nonprofit development agency announced this morning it will proceed with issuing about $1.5 billion in bonds to complete a complicated lease of the state of Ohio’s wholesale liquor profits stream. The move was triggered by two bond-rating agencies awarding high ratings to the bonds JobsOhio (Moody’s – A2) will use to fund the lease. The liquor profits deal is at least one year in the making. In January 2012, JobsOhio and the Kasich administration announced the parameters of the agreement. In that deal, JobsOhio would pay the state $500 million that would go into the general-revenue fund.
Link to JobsOhio Credit Ratings Press Release: http://jobs-ohio.com/images/JobsOhioBondratings.pdf