2020 Fall harvest Ohio

Ohio Gov. Mike DeWine was joined by Lt. Gov. Jon Husted Wednesday to request the Ohio Bureau of Workers’ Compensation send up to $5 billion in dividends to Ohio employers to ease the continued financial impact from the COVID-19 pandemic.

“This pandemic is unprecedented and continues to financially impact Ohio employers and businesses,” said DeWine. “Issuing these dividends is important. This is about keeping businesses open and people employed.”

If approved by BWC’s board of directors, it would bring the total dividend dollars for employers this year to nearly $8 billion. 

“As Ohio businesses confront the economic challenges of a COVID world, this kind of financial relief can be the difference between closing and staying open,” Husted said. “We don’t want Ohio businesses and the jobs they create to be a casualty of the pandemic.”

The $5 billion dividend would be BWC’s third dividend of more than $1 billion this year and the largest one-time dividend it has ever issued. BWC distributed $1.54 billion in April and $1.34 billion in October. At $5 billion, this dividend is approximately four times the total premiums BWC collected from its employer members in policy year 2019.

Benefit to agriculture

Ohio Farm Bureau Executive Vice President Adam Sharp joined the governor for the announcement of these possible dividends and shared how these funds will benefit the agricultural community.

“It is no secret that with the pandemic, global disruptions and uncertainty, and an untold number of other challenges, our agricultural community has seen some serious negative economic impacts,” Sharp said during the news conference. “The potential to return billions of dollars to our communities is vitally important as it will give businesses across the state the needed resources and cash to remain competitive and reinvest in their workforces and their safety.

According to DeWine, Ohio farms should expect to see a dividend of $9,500, on average.

Despite the pandemic, BWC remains in a strong fiscal position from healthy investment returns on employer premiums, a declining number of claims each year and prudent fiscal management. 

Timeline

BWC’s board of directors is tentatively scheduled to vote on the request during a special meeting Monday, Nov. 2, 2020 and checks could be delivered as early as the first week of December. Visit  bwc.ohio.gov to confirm board details.

Funded by employer premiums, BWC provides workers’ compensation insurance to approximately 245,000 private employers and 4,000 public employers, such as cities, counties, and schools.

Labor has always been an issue, mainly because we are a seasonal operation. So that's a challenge finding somebody who only wants to work three months out of a year, sometimes up to six months.
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Mandy Way

Way Farms

Farm Labor Resources
I appreciate the benefit of having a strong voice in my corner. The extras that are included in membership are wonderful, but I'm a member because of the positive impact to my local and state agricultural communities.
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Ernie Welch

Van Wert County Farm Bureau

Strong communities
I see the value and need to be engaged in the community I live in, to be a part of the decision-making process and to volunteer with organizations that help make our community better.
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Matt Aultman

Darke County Farm Bureau

Leadership development
Farm Bureau involvement has taught me how to grow my professional and leadership experience outside of the workforce and how to do that in a community-centric way.
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Jaclyn De Candio

Clark County Farm Bureau

Young Ag Professionals program
With not growing up on a farm, I’d say I was a late bloomer to agriculture. I feel so fortunate that I found the agriculture industry. There are so many opportunities for growth.
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Jenna Gregorich

Coshocton County Farm Bureau

Growing our Generation
Knowing that horticulture is under the agriculture umbrella and having Farm Bureau supporting horticulture like it does the rest of ag is very important.
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Jared Hughes

Groovy Plants Ranch

Groovy Plants Ranch
If it wasn't for Farm Bureau, I personally, along with many others, would not have had the opportunity to meet with our representatives face to face in Washington.
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Austin Heil

Hardin County Farm Bureau

Washington, D.C. Leadership Experience
So many of the issues that OFBF and its members are advocating for are important to all Ohioans. I look at OFBF as an agricultural watchdog advocating for farmers and rural communities across Ohio.
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Mary Smallsreed

Trumbull County Farm Bureau

Advocacy
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