For years, the Gulf Coast was recognized as the place in North America for energy investment. Today, energy investors are turning their gaze to Ohio.
As you know, Ohio sits atop much of the Utica and Marcellus shale formations, a source of vast amounts of natural gas. This has largely contributed to a rising interest from energy companies in investing in Ohio. These shale formations have brought about more investment opportunities, no matter where in the state companies choose to invest.
As a business owner, it’s not a matter of if you’ll need funding but when. So what options exist for financing?
As you start your business, it’s important to develop a relationship with a banker because this will be your advocate when it’s time to apply for a business loan. The banker will tell your story to the underwriter and help them to understand your need for financing and any hiccups you’ve had along the way.
As I’ve toured the Great Lakes Region and met with small businesses across Ohio, I’ve heard countless times about many not being able to grow (and sometimes sustain) because of their inability to find skilled workers to fill the job opportunities. Not only is this hurting the small businesses, it’s also affecting economic development.
Major changes in the Senate version include:
Restoration of the pass-through entity income tax deduction back to the first $250,000 of income;
Inclusion of Governor Mike DeWine’s proposal for $550 million in wraparound services funding for schools but re-directing an additional $125 million the House provided for those programs to other purposes, including assistance to fast-growing districts and an expansion of school vouchers;
Funding of the first two years of Governor DeWine’s proposed H2Ohio water quality initiative at $172 million for the biennium, and
Restoration of the statewide Kinship Care Navigator Program as proposed by the Governor, and its $15 million per year funding.
Governor’s Budget Bill: The Governor’s proposed budget for the 2020-2021 Biennium, HB 166 has been moving forward, with the House passing a Substitute Bill May 9 and the Senate releasing its Substitute Bill June 11. The Governor must sign a final budget bill by June 30.