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Small Businesses in Ohio Get a $24 Million Boost


KeyBank Foundation just announced a commitment to invest $24 million in startup and young businesses in Ohio and New York. In partnership between their foundation and JumpStart Inc., KeyBank's investment could create more than 4,500 jobs in Ohio alone.

The money will target 4,300 small businesses in Ohio and 1,200 in New York, which will help create 4,500 jobs in Ohio and 800 in New York; KeyBank has a strong presence in both states. The partnership with JumpStart is perfect; JumpStart focuses on stimulating economic growth and workforce development by supporting new and fledgling small businesses.

Specific goals include:

The investment will help to increase the growth of thousands of small businesses, most of which are owned by women and minorities. Other goals include:

  • Match 800 people with existing job opportunities.
  • Help more than 1,000 students prepare to enter the workforce after they graduate from high school, with special focus on vocational education and workforce training for students in Cleveland.
  • Help tech companies through workforce training for 1,000 people.

The project will continue over the next four years. JumpStart CEO Ray Leach stated that the investment "will dramatically increase the impact of entrepreneurs and small businesses on neighborhoods and communities."

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