Governor DeWine Unveils $1 Billion Budget Targeted to Strengthen and Grow Ohio Communities and Businesses
Ohio Governor Mike DeWine and Lt. Governor Jon Husted today unveiled their Executive Budget for Fiscal Years 2022 to 2023, which includes an aggressive plan to spur Ohio’s continued recovery by investing in communities, people, and businesses. Through the Investing In Ohio Initiative, the Executive Budget launches a strategic effort to invest more than $1 billion toward accelerating economic growth and ensuring economic vitality.
“We have a unique opportunity to make significant investments that will spur growth and economic renewal across the state,” said Governor DeWine. “The Investing In Ohio Initiative supports both our people and our economy as we continue to prepare for the future and showcase Ohio as the premier place to live and work.”
The Investing In Ohio Initiative within the proposed Executive Budget includes $460 million to support Ohio's small businesses that have been significantly impacted by the COVID-19 pandemic. The proposal includes:
- Investing $200 million in grants for bars and restaurants;
- Investing $150 million in grants for Small Business Relief Grant applicants, who previously applied and are qualified;
- Investing $50 million in grants for lodging industry businesses;
- Investing $40 million in grants for indoor entertainment venues;
- And investing $20 million in grants for new businesses, many of whom were unqualified to receive previous funding.
“It is a responsible, balanced budget that invests in our health, educational and economic recovery from the pandemic,” said Lt. Governor Husted. “We are championing career training and in-demand industry credentials that will help tens of thousands more Ohioans a year earn the skills that will prepare them for quality, good paying jobs without the high cost of a college education.”
The Investing In Ohio Initiative also includes a $70 million investment to upskill Ohio’s workforce. This funding works to ensure that businesses have access to the talent needed to be successful, while upskilling Ohioans who are looking to acquire in-demand, tech-focused credentials. The workforce investments also includes targeted funding for economically distressed rural and urban parts of Ohio. The proposal includes:
- Investing an additional $5 million for 5,000 tech-focused credentials through the TechCred program in fiscal year 2021;
- Funding $50 million ($25 million in each fiscal year 2022 and 2023) for 40,000 tech-focused credentials through the TechCred program;
- And investing $15 million for workforce efforts in economically distressed rural and urban communities.
Ohio’s communities have been significantly impacted by the COVID-19 pandemic. The Investing In Ohio Initiative includes a targeted investment of $200 million to support infrastructure projects that will attract new jobs and investment opportunities. Additionally, the budget makes a landmark investment towards broadband expansion by providing $250 million to help bridge the digital divide. Read more....