COLUMBUS, Ohio - Citing strong returns on investments by the Ohio Bureau of Workers' Compensation, Ohio Governor Mike DeWine and BWC Administrator/CEO Stephanie McCloud proposed giving $1.5 billion to Ohio employers this year.
“This is great news for Ohio,” said Governor DeWine. “This money will help Ohio employers expand their businesses, create jobs, and invest in capital improvements. Ohio’s economy is strong, and this proposal reinforces our goal of creating more jobs in the state.”
“Our investment portfolio is strong, our injury claims are falling, and our safety and wellness initiatives are making a difference,” said Administrator McCloud. “All of these actions mean big savings for employers, and we’re delighted to share this success with them.”
In addition to money for private businesses, the $1.5 billion proposal would also include money for public employers. Approximately $144 million would be sent to local governments, with an additional $50 million going to public schools.
The money would be Ohio's fifth investment return to private and public employers of at least $1 billion since 2013.
McCloud will present the proposal to the BWC Board of Directors on Wednesday during board committee meetings. A vote would follow at the board's June 28 meeting. If approves, checks would be issued to employers in September.