More highway projects sooner—without a tax increase; Refilling the Rainy Day Fund; Cutting small business taxes in half; Celebrating women entrepreneurs; Another California company grows in Ohio:

MORE HIGHWAY PROJECTS SOONER—WITHOUT A TAX INCREASE

Last week Ohio took a major leap forward in preserving the state’s high-quality highway system and strengthening its essential job-creating value. Ohio’s roadways help the manufacturing, agriculture and logistics industries take full advantage of our location within a day’s drive of more than half of the nation’s population. Supporting the economic contributions of these and other job creators is why the Governor has worked so hard to fill Ohio’s $1.6 billion highway budget deficit without a tax increase and why last week’s news was so important. On Monday, the Governor unveiled his plan to inject $3 billion in state, federal and local funds into more than 40 projects across Ohio in order to erase project delays that, in some cases, had reached 20 years. Then, on Thursday, the Transportation Review Advisory Council (TRAC) gave its preliminary approval to the plan and opened it up to public comment. All of this is happening not with tax increases but with bonds backed by turnpike profits—an innovative approach that was criticized by defenders of the status quo but also backed by everyone from the turnpike employees union to local mayors to local business leaders. The Governor is extremely proud of the cooperation it took to get this plan off the ground, and he is excited about the benefits these projects will soon start providing to communities across the state.

REFILLING THE RAINY DAY FUND: $1.5 BILLION

Thanks to spending restraint exercised over the past two years, as well as in the recently-signed state budget, surplus funds were available that allowed the Governor to deposit almost $1 billion into the state’s savings account recently, bringing the balance to nearly $1.5 billion. This is a big improvement from the 89 cents that was in the fund when the Governor took office and proof that the best way to prepare for future economic downturns is conservative fiscal management today.

CUTTING SMALL BUSINESS TAXES IN HALF

The new state budget that the Governor signed on June 30 provides a 50 percent tax cut for almost every Ohio small business. For the past few years, we have been working hard to

reform taxes on behalf of all Ohioans, including eliminating the death tax. The Governor firmly believes that small businesses are the heartbeat of Ohio’s economy and is proud to advocate for their success in our state. It is his hope that this tax break will open new doors for small business owners and help them continue to grow and contribute to Ohio’s economic comeback.

CELEBRATING WOMEN ENTREPRENEURS

The Governor recently gave remarks at the 16th annual National Association of Women Business Owners (NAWBO) Visionary Awards Gala in Columbus. This national organization with approximately 7,000 members and 70 chapters aims to help women business owners grow by providing resources, education and networking opportunities. The Central Ohio NAWBO chapter has 130 members whose businesses collectively employ more than 600 people and bring in $1 billion in annual revenue—which is why our Administration has made it a priority to advocate for these businesses and support the women that make it all happen. The Governor talked about the Administration’s efforts to cut taxes, especially for small businesses, and streamline regulations to create a more jobs-friendly climate where these entrepreneurs can thrive.

ANOTHER CALIFORNIA COMPANY GROWS IN OHIO

Earlier this month the Governor attended a ribbon cutting ceremony in Gahanna for California-based Niagara Bottling. The company’s new manufacturing, water filtration, bottling, and distribution facility has already created 89 jobs—more than originally committed—and will service its customers including Kroger, Costco, Wal-Mart, Lowe’s and Home Depot. This project came together because there was a strong partnership between the company, the state, and local governments, and we are always excited to see collaborative efforts pay off.

(From a newsletter update sent by Beth Hanson; Chief of Staff)