On November 1, two Democratic Ohio state senators introduced Forward Ohio, a four-pronged economic development proposal intended to help the unemployed - particularly those in hard-hit urban areas - get back to work. According to The Columbus Dispatch and information released by the offices of Sen. Eric Kearney (Cincinnati) and Sen. Nina Turner (Cleveland), the four-pronged plan is focused on:
· Helping small businesses compete and expand,
· Positioning Ohio's economy for future growth,
· Creating pathways to employment for the long-term unemployed, veterans and youth,
· Stabilizing and revitalizing our communities.
To accomplish this plan, the senators propose to:
1. Create a revolving loan fund and provide micro loans to small-businesses up to $50,000 to assist with capital expenditures and operational expansions.
2. Increase the maximum bonding line pre-qualification for minority-owned businesses from $1 million to $2 million.
3. Increase the frequency of when the Minority Development Financing Advisory Board meets to ensure that bond requests are dealt with in a timely manner.
4. Create the Ohio Infrastructure Development Loan Fund to leverage federal money for local infrastructure improvement projects.
5. Exempt infrastructure related to broadband development in underserved areas from state taxes.
6. Provide grant funds for school districts to retrofit buildings to improve energy efficiency and establish sustainable practices.
7. Provide scholarships and grant assistance to long-term unemployed (over six months) to learn and develop new skills to leverage opportunities in high growth fields.
8. Make reforms to Ohio’s unemployment insurance system expanding eligibility to those who need it most.
9. Create work sharing programs to prevent mass layoffs.
10. Award a $4,000 tax credit to employers for hiring long-term unemployed workers.
11. Institute a $5,600 “Returning Heroes Tax Credit” for employers who hire jobless military veterans and employ them for at least six months.
12. Institute a $9,600 “Wounded Warrior Tax Credit” for employers who hire veterans with service-connected disabilities who have been unemployed for at least six months.
13. Train at-risk urban youth and awarding competitive grants to businesses that hire teenagers and young adults for summer employment opportunities.
14. Provide incentives for the rehabilitation of distressed residential and commercial properties and including appropriations to the Clean Ohio Fund to help efforts by local governments to clean up brownfield sites.
With an estimated cost of $300-$400 million, the proposal would be funded with unused casino fees, elimination of certain tax exemptions, money from tobacco taxes, and the state's rainy day fund. Forward Ohio has received an endorsement from the National Urban League and its Ohio affiliates in Cleveland, Cincinnati, Columbus and Canton.
