Ohio’s innovative approach to funding its fledgling job creation entity took a big step forward this week as it was announced that JobsOhio will use profits from the state’s wholesale liquor enterprise to finance economic development efforts.

This is a risky gamble of sorts in that it is unlike others across the country, but it could pave the way for Ohio to invest in economic development and promote job creation in ways it has not been able to do for decades.

Essentially, JobsOhio will pay the state $1.4 billion up front that will be generated from the sale of bonds. In return, JobsOhio will use the profits from the state’s wholesale liquor sales — at least $100 million each year — towards economic development.

John Kasich knows this is ground-breaking.

“This model that we are creating in the state of Ohio is one that is going to be studied across the country,” he said. “If we do it right, it will be one that will be envied.”

The biggest concern remains the details of exactly how the JobsOhio agency will operate and how it will be accountable to the citizens.

Previously, the Ohio Department of Development handled economic development and all of its moves could be scrutinize as a public agency. JobsOhio is a private, nonprofit agency and is not held to that same standard.

The liquor profits, which were once public, will no longer be considered as such and the economic development agency will not have to provide near the same level of details in terms of how the money is spent.

Overall, Kasich got it right by at least trying something bold and innovative that could return Ohio to its spot as a business leader.

If JobsOhio lives up to its promise the state will be uniquely positioned for economic growth and completion on a national and global level. If it does not, the plan should be scrapped and the public monies returned to agencies that are accountable to the taxpayers.