Three Questions for Jill Meyer
As a founding partner of The O.H.I.O. Fund, Jill Meyer is putting her deep roots in the Cincinnati business community and her expertise in Ohio’s economy to work. As the first investment thesis of its kind, private funds are raised mainly from Ohioans and then invested exclusively in Ohio — in scaling businesses and in real estate/infrastructure projects, keeping returns in the state. In just over two years, funds managed by The O.H.I.O. Fund have deployed over $300 million to more than 40 portfolio companies and projects.
I caught up with Jill to get her perspective on her work and our economic landscape. Read what she had to say below.
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What are the industries that Ohio should be investing in more than we are?
Over the past couple decades, we’ve been loud about establishing a startup ecosystem, cultivating and investing in people with great ideas at the seed and early stages. We need more investment in companies that are scaling, growth-stage investments. These are companies that have something that works. They know there’s a place and a space for it, and it just needs to scale. That is where historically we’ve not had enough Ohio investment within the state. The growth stage is when companies are putting down roots, when they’re hiring more people, when they become really strong members of the community and driving economics. If we can put some more emphasis on helping those companies expand right here in Ohio, the results will show up in many ways.
Since the launch of The O.H.I.O. Fund, have you heard from other states looking to recreate anything similar?
We have. I’m not going to name the states, but both officials and regular people from other states have called to say, “Hey, this is pretty great what you guys are doing. Can you do it for us?” And our answer has always been the same, which is, “No.” Because the four founding partners of The O.H.I.O Fund know Ohio, our relationships are across Ohio, our deep economic knowledge is about Ohio — and Ohio’s economy is large and diverse and growing in ways other states are not. The O.H.I.O Fund is not something that you can just replicate in another state with a blueprint. It requires that moment-in-time magic.
Looking at The O.H.I.O. Fund’s growth prospects, how does the state’s diversity of urban and suburban cores create opportunities and challenges?
Anytime you have three major metros and lots of other very well-taken-care-of cities and towns, there’s a risk of siloed thinking. It’s a good thing because it means we have so many healthy, self-contained economies, but because of that, it doesn’t force us to know what’s happening with our neighboring cities. And anytime you’re dividing something within the whole, you’re missing opportunities. So, if you look at all the different economic dots on the map of Ohio, the more of those we can connect, the more dots it will produce. If something’s divided, it’s tougher for it to grow more. But if you bring something together, it can sprout more rapidly.
You’ve said you focus on getting to know the founders of companies that The O.H.I.O. Fund might invest in. What are the specific traits that you’re looking for in those founders?
In a founder, you want somebody who looks at the world a little bit differently. If you’re going to build a successful business, there has to be something about it that’s not obvious. Maybe their solution is not obvious. Maybe they’re meeting a need that people don’t even realize that they have. Maybe the founder is way ahead of the curve, and they see something coming that the general population doesn’t yet see or the business community doesn’t yet see, but they can see what’s coming around the corner.
From a national perspective, what’s the foremost issue keeping you up at night regarding the U.S.’ economic outlook?
Being glib, I would tell you I sleep very well at night. But the foremost issue is this: How can we increase at a fast enough pace the amount of invention, of new technology, getting back into the front of the world in all things intellectual property and invention? We’ve fallen behind from that perspective in lots of regards. And it’s not great for business. It’s not good for national security. It’s not good from a talent perspective. We need to be the single most important place on the planet where invention happens and invention turns into business and turns into products and protections. There are countries that are building more cutting-edge tech faster than we are, and that should be unacceptable to everybody in the U.S.
This interview has been edited for length and clarity.
About Jill
Jill Meyer joined in launching The O.H.I.O. Fund in 2024 as a founding partner, where she’s helping to bring much-needed capital to some of Ohio’s most promising businesses and industries. She’s also currently the chair of the Cincinnati Branch of the Cleveland Fed. Prior to joining The O.H.I.O. Fund, Jill spent seven years as president and CEO of the Cincinnati Regional Chamber, successfully leading one of the largest metro business chambers in the nation. Before that, she practiced law at Frost Brown Todd (now FBT Gibbons) and served as partner-in-charge of the Cincinnati office from 2009 to 2015.