Jeffrey Stern
Principal
Why are you bullish on Ohio?
Ohio’s history is a testament to its potential. Caleb Atwater, the historic Ohio politician, noted in 1838 that Ohio is peculiarly felicitous as to soil, climate, and productions, and that it will be Ohio’s own fault if they are not the happiest people in the Union. When I came to Ohio, I quickly saw his perspective.
In the span of a single lifetime, Ohio underwent a remarkable transformation. From natural wilderness, it emerged as an industrial force, riding successive waves of technological innovation, each reshaping the state’s economic landscape. The early 1800s saw the rise of steam-powered canal navigation, only to be swiftly jettisoned, rendered obsolete by the railroads of the 1840s and 1850s, which in turn ushered in an era of unprecedented manufacturing might. Ohio emerged as a global crucible of industry and builder of things — the epicenter of oil, home to the world’s greatest iron port, producer of roughly half of the world’s rubber, and a formidable leader in steel.
Today, we witness the stirrings of a new industrial renaissance, harkening to the spirit of the industrial revolution that powered Ohio’s transformation. This movement, galvanized in the wake of COVID, stems from a renewed appreciation of our know-how and capacity to build tangible things better, faster, and cheaper, and an acknowledgment of the importance of our domestic resilience and capabilities.
I’m bullish on Ohio because I am reminded of Atwater’s observation and the precedent Ohio has set as a place of resilience with a demonstrated ability to adapt and thrive amidst changing economic landscapes, particularly those it’s well-positioned to benefit from.
What unique perspective or experience do you bring to The O.H.I.O. Fund?
As someone who grew up and spent most of my life in Manhattan and chose to make Cleveland my home, I bring an outsider’s curiosity and a deep appreciation for Ohio’s rich history and vibrant entrepreneurial spirit.
My journey from co-founding Axuall (a late-stage venture-backed Cleveland-based company) to building Lay of The Land (Northeast Ohio podcast on entrepreneurship with thousands of local listeners) has given me a unique vantage point to understand the challenges and opportunities of building businesses in Ohio. I’ve had the privilege of amplifying the stories of hundreds of local entrepreneurs who inspire me daily, equip me with a grounded optimism, and connect me directly with those who are building and shaping Ohio’s future.
How do you see The O.H.I.O. Fund Impacting Ohio’s future?
Positively, at scale, and for longevity! While Ohio is well positioned to benefit from structural trends over the coming years, it’s not a given that Ohio will tap into and realize this latent potential on its volition, even with such favorable tailwinds. I see The O.H.I.O. Fund® as the catalyst to invest in the companies, institutions, and people who will shape Ohio’s future and ultimately help elevate the ambition and state of the state. We have a responsibility and opportunity at The O.H.I.O. Fund to do well with, do right by, and do good for Ohio’s future.