Week in Review: Feb. 4, 2024

AUDITOR OF STATE

The Auditor of State's Special Investigations Unit (SIU) is seeking information on potential fraud, waste, and abuse of public resources at Eastern Gateway Community College (EGCC) in Steubenville. The SIU has established a dedicated email address, SIUEGCC@ohioauditor.gov, for tips. Individuals who suspect wrongdoing can also confidentially submit information through SIU's webpage at https://ohioauditor.gov/fraud/default.html or through the auditor's fraud hotline at 866-FRAUD-OH (866-372-8364). Earlier in January, the Special Investigations Unit and several partners, including the U.S. Secret Service, executed a search warrant related to ongoing investigations of the community college.

ECONOMIC DEVELOPMENT/URBAN REVITALIZATION

Gov. Mike DeWine's administration announced Monday the approval of tax credits for 15 mixed-use projects expected to create more than $401 million in new payroll and spur $2.6 billion in investments across the state. The projects are part of the Transformational Mixed-Use Development Program's third round, which took applications from July 27 to Sept. 8, 2023. The Ohio Tax Credit Authority (TCA) approved a total of $100 million in tax credits for the projects, with approximately $78 million for major city projects -- those within 10 miles of the corporation limit of Akron, Cincinnati, Cincinnati, Cleveland, Columbus, Dayton or Toledo -- and $22 million for general projects.

TAXATION

Gov. Mike DeWine's administration announced Monday the approval of assistance for three projects set to create 295 new jobs and retain 132 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought by JobsOhio and its regional partners. The projects are expected to collectively result in more than $24 million in new payroll and spur $271 million in investments across Ohio.

TECHNOLOGY/AEROSPACE

Lt. Gov. Jon Husted announced Monday that 398 employers were approved for funding through the November round of TechCred, which will enable Ohioans to earn 5,925 tech-focused credentials. This marks the most credentials approved in a single funding round, passing the previous high of 5,289 credentials in September 2023. In the November round, artificial intelligence (AI) credentials were one of the top categories requested, which Husted's office said highlights businesses' need to provide AI-related training to their workers.

The Ohio Department of Development announced Friday that Ohio Third Frontier issued a request for proposals (RFP) for phase 1 and phase 2 projects of the Technology Validation and Start-up Fund (TVSF). TVSF's goal is to boost Ohio's economy by commercializing technologies invented by and developed at higher education institutions, nonprofit research institutions and federal labs. The fund also supports startups by licensing their products.

WORKERS’ COMPENSATION

The Ohio Bureau of Workers' Compensation (BWC) Board of Directors on Friday approved an 8.6 percent contribution rate reduction for state agencies. The reduction is expected to save agencies more than $4 million during the fiscal year, according to a summary provided by BWC. The BWC Board is also considering a private employer rate cut of 7 percent, which could save private employers nearly $67 million in premiums during the next fiscal year.