On February 1, Governor Mike DeWine introduced his two-year budget proposal, this year dubbed “Investing in Ohio’s Future.”
Among the proposals in the budget is a one-time investment of $1 billion to help build-back Ohio’s economy in the aftermath of the COVID-19 pandemic. The proposed spending program includes $460 million to help small businesses cover costs and keep their doors open. This would be done by providing
$200 million for grants for bars and restaurants
$150 million for grants for Small Business Relief Grant applicants
$50 million for grants for the lodging industry
$40 million for grants for indoor entertainment venues
$20 million for grants for new businesses which were not qualified for earlier aid
The budget also proposes to invest nearly half a billion in infrastructure projects, including $250 million to provide grants to expand broadband access throughout Ohio and $200 million to provide up-to $2.5 million grants to pay for infrastructure projects in communities, such as brownfield remediation.
The full Executive Budget Proposal, known as the Blue Book, is available for review online.
Now that the budget has been introduced, the legislative process to enact the budget begins, with passage needing to occur by June 30 for the main operating budget (and March 31 for the transportation budget).
Last week, Greater Ohio Policy Center hosted a webinar explaining the biennium budget process. If you were unable to attend the webinar, we have a copy of the program linked below.
Keep following our blog and social media pages to follow the budget process from start to finish.