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The transformation and revitalization of Ohio’s economy

Published on 09/26/2005

Guest column by Ohio House Speaker Jon Husted

As the backbone of the Midwest, the agricultural industry has been feeding Ohio families for generations. A structured, effective and successful agriculture industry is vital to Ohio as a key part of our diverse and booming economy and a source for many Ohioans.

Through better production and higher yields due to advancements and biotechnology, farmers are able to produce more and feed an increased number of hungry Ohioans. Moreover, leaders in research and agribusiness have utilized new technology to provide Ohioans with alternative fuels such as ethanol and biodiesel, which are made from corn and soybeans. This marriage of agriculture and technology is becoming increasingly important to our state and its agricultural future.

As we move forward, it is essential for Ohio’s strong tradition of agriculture to be carried with us into the new knowledge economy. At the outset of this General Assembly, we identified our top legislative priority as to promote the seamless transformation and revitalization of Ohio’s economy. Both agriculture and manufacturing play a major role in that transformation.

Together, members of the Legislature worked to pass the most fiscally conservative budget in more than 40 years. Doing so enabled us to reform Ohio’s Medicaid system, restructure our burdensome and outdated tax code and provide all Ohioans with a 21 percent across-the-board income tax cut – the largest in Ohio history.

These were important accomplishments, and yet our work is not yet done. With competition in the global marketplace and constant changes in the work force, we must build on the momentum brought about in the budget process and focus our energies into driving the economy forward, making our state more attractive to businesses by encouraging investment in Ohio and creating higher paying jobs for all Ohioans.

In a continuation of our efforts to revitalize our economy, we recently passed the Jobs for Ohio resolution. This proposal, which will be put before voters in November, is a multi-faceted approach focused on private and public research and development within Ohio’s core economy and the improvement of existing infrastructure throughout the state. The package will stimulate economic development and allow agriculture and agri-business to compete, benefiting Ohio farmers, families and businesses.

This initiative makes a commitment of $1.35 billion over the next 10 years to help local governments repair roads and bridges, waste-water facilities and culverts throughout our communities. Moreover, this proposal will continue restoration and improvements of the roads and bridges you and your family travel every day.

To help improve the technology sector of Ohio’s economy, the Jobs for Ohio plan also makes an investment of $500 million over the next seven years on research, development and commercialization of high-tech products and processes that will enable domestic companies to compete in the new technology economy.

For example, a $1.5 million investment in the Ohio Agricultural Research and Development Center in Wooster is aiding in the development of technology to generate electricity from waste by-products of the food manufacturing process. Through this investment in research, Ohio’s food processors will be able to conserve energy and resources through the generation of electricity.

Recognizing that companies examine a variety of factors when choosing to relocate operations to Ohio, this bond proposal also allocates $150 million over the next seven years to pay for industrial, technology and business-site improvements. Attracting new businesses to the state and encouraging existing companies to expand is essential as we continue our efforts of economic restoration and renewal.

As the Legislature works to move our economy forward, we hope that members of the Ohio Farm Bureau will join us in our commitment to the future of Ohio. The Jobs for Ohio package – with its investments in infrastructure, research and development and site readiness – will be presented to the voters this November. It is the most important issue on the November ballot.

 
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