Buckeye Strong: 210 Years of Investing in Ohio’s Future

Look around and you’ll see it: from Cincinnati to Cleveland and everywhere in between, Buckeye spirit is at an all-time high. Global companies are choosing central Ohio for multi-million and billion-dollar investments, nonprofits are winning awards for impactful community development work, and state cheer programs are capturing national titles.

While Ohio is still recognized as the place where things get made—Ohio’s GDP increased an estimated 2.6 percent during the fourth quarter of 2024, outpacing the national average—the state's reputation is evolving. Ohio is expanding into knowledge sectors as well, with gains in overall student proficiency and advancements in STEM education. In short, Ohio is becoming the place where the next big things in science, technology, and engineering are being dreamed up and built out.

“Ohio has evolved from a heavy industrial base into more of a technological and healthcare-oriented economy,” says Kate Donovan Morgan, Chair of JPMorganChase Ohio Market Leadership Team. “The industrial base isn’t leaving—we’re just seeing more opportunities on the innovation front.”

Supporting Ohio’s Expansion

Ohio’s identity as a manufacturing powerhouse has steadily broadened, with STEM-driven industries emerging alongside long-standing sectors. And with more than 210 years of commitment to the state, JPMorganChase is a proud supporter of the progress, both big and small, happening in every corner. Part of that support is the on-the-ground relationship and community building that are the hallmarks of how we do business.

“What JPMorganChase is trying to do is make sure we adjust to Ohio’s evolution and ensure our products and services match up with where the people and businesses are going—and where we have an opportunity to strengthen communities and drive economic growth,” says Morgan. “It’s always about: How do we help everyone get there?”

Strategic investments have played a crucial role in this transformation, enabling Ohio to modernize its systems, programs, and infrastructure. Since 2019, we have contributed over $11 billion in credit and capital to more than 130 government, higher education, healthcare, and nonprofit clients across the state to help them better serve our communities. Ohio is now embracing its Buckeye spirit in thriving fields like pharmaceuticals and aerospace manufacturing, creating a burgeoning science hub in the heart of the country.

A Diversity of Industry and Innovation

Ohio’s economic expansion is powered by a diverse mix of industries making long-term bets on the state’s potential—some for the first time. Ohio-hosted clinical trials, for example, are bringing a $2.4 billion boost to the state’s bottom line, placing it among the top ten states in the nation—alongside California, Texas, and Florida—in terms of economic impact.

And biopharmaceuticals aren’t the only billion-dollar industry eager to invest and create jobs in the state. As data becomes the new currency of the global economy, Ohio has emerged as a premier destination for development. Leaders in the tech space are investing tens of billions of dollars to establish a robust digital infrastructure that powers cloud computing, AI research, and other cutting-edge technologies, expected to create thousands of new jobs in the state over the coming years.

“When you take a look at Ohio geographically, we’re at the intersection of a massive highway system, and we have a huge body of freshwater that's a big draw to data centers that need the water to cool the computers,” says Morgan. “Add in our skilled workforce, and it’s clear why we’re uniquely positioned for progress.”

And in the manufacturing sector—where Ohio first made its name over a century ago—the state continues to be a leader in high-value, specialized production. From aerospace components to medical devices, Ohio manufacturers are embracing automation, 3D printing, and other advanced techniques to create products that compete globally on quality and innovation rather than solely on cost.

Recent projects are set to create thousands of local jobs and deliver substantial economic impact, building upon the manufacturing foundation that JPMorganChase has reinforced through decades of targeted investments and financial partnerships.

Local Connections, Lasting Commitments

But outside of systematic support, we know one of the most important ways to show up for our clients and customers in Ohio is through the personal relationships forged in each of our 235 branches. The secret to Ohio’s ongoing success is, and always has been, its people. As one of Ohio’s largest private employers, with over 20,000 employees across the state, we take great pride in supporting our neighbors across the financial spectrum.

“We have community bankers whose sole role is to go into the community and provide financial literacy,” says Morgan. “Our community managers, for example, hold free educational classes to help people learn about budgeting and other financial tools that they need to help them, their families, and the community in general grow.”

Steady and indispensable, innovative and hard-working: Ohio’s evolution is spurred by supporters like JPMorganChase, whose commitment to the state mirrors the same future-focused drive that’s powering its next chapter.

JPMorgan Chase Bank, N.A. Member FDIC.