(The Center Square) – Technology infrastructure giant Vertiv has announced a $50 million investment that promises to bring 730 jobs to Westerville and Ironton, a move being celebrated by Gov. Mike DeWine.
And it will get millions in taxpayer funds to help the planned projects.
Just weeks after the company made its debut on the S&P 500, ups and downs in the company’s valuation demonstrate the volatility of AI amidst a deeply unstable global market.
Investors and job seekers are betting on the company’s staying power even as prices soar for the energy demanded in high volume by AI technology. Part of the company’s promise, it says, is its commitment to sustainability, developing more efficient infrastructure and cooling systems.
The newly unveiled investment won’t be in a new local data center, something Ohio residents have strongly pushed back on. Instead, it’s an expansion of its corporate headquarters, which it says will provide new jobs through 2029.
“Ohio has been central to Vertiv’s story for more than six decades, and this investment reflects our confidence in the state, our communities, and the people who make growth possible,” said Anand Sanghi, president of Vertiv Americas. “By expanding in Westerville and Ironton, we are investing in talent, manufacturing, and long-term capability that will help us better serve customers while continuing to create high-quality opportunities in Ohio.”
Though the company has offices internationally, Vertiv got its start in Columbus and is headquartered in Westerville. The company sells data center infrastructure, including the technology required to optimize power distribution and cooling. It also provides maintenance and IT services.
In addition to its corporate headquarters, Ohio is home to two of the company’s manufacturing facilities.
“Vertiv’s growth here is a testament to Ohio’s integral role in the technology industry,” said DeWine. “Ohio has the best workforce in the nation, and we are proud that Ohioans will be on the leading edge of Vertiv’s work to establish and strengthen the AI supply chain.”
Taxpayers are chipping into the investment through a $1 million Delaware County JobsOhio grant, a $3 million Lawrence County JobsOhio grant, and job creation tax credits from the Ohio Department of Development.
“Vertiv’s commitment strengthens a proud manufacturing tradition in Lawrence County, while also reinforcing Ohio’s role as a national leader in producing the technologies that will drive our state — and our country — forward,” said Lydia Mihalik, director of the Department of Development. “This kind of growth is possible because of strong collaboration between partners who believe in what Ohio is, and what it can be.”
The race to draw technology investments to individual states has been a competitive one, encouraged at the highest levels by federal promises to unleash energy resources and incentivize development.
The investments aren’t always an easy sell for residents, leary of increasing energy bills created by higher demand. Many of the jobs promised by data centers themselves come with construction, with the facilities needing far fewer hands on deck once operational.
In this case, Vertiv says the expansion will create jobs that have been historically more stable, supporting the “growing demand for roles across engineering, sales, services, project management, and related business functions.”
