Bill aims to spur further job creation, enhance Ohio's tourism efforts
In an effort to spur long-term economic development and streamline Ohio’s government structure, the Ohio House of Representatives today passed legislation that, when enacted, will reform the Ohio Department of Development in order to continue revitalizing Ohio’s job creation efforts.
When enacted, House Bill 489 will complete the transition from the Ohio Department of Development to the Ohio Development Services Agency (ODSA). The legislation will revitalize Ohio’s job creation efforts by providing essential services to JobsOhio—the state’s private, non-profit entity created through House Bill 1—including the administration and oversight of loans and tax credits that will further create and expand Ohio businesses.
“House Bill 489 reaffirms our commitment to making Ohio a state that welcomes businesses, tourists, and above all, jobs,” said Representative Dovilla. “Creating an environment which encourages businesses to expand in our state and supports minority-owned business is critical as we seek to restore the promise of opportunity for all Ohioans to prosper.”
Specifically, the legislation would:
• Create a pilot program, TourismOhio, to provide a dedicated funding source for tourism marketing;
• Improve access to capital for minority-owned businesses by increasing the amount of financing available; and
• Reform the tax credit process to ensure businesses are not penalized by delays due to the meeting schedule of the Ohio Tax Credit Authority.
Additionally, the legislation creates within ODSA the Office of TourismOhio, which will be funded through a five-year pilot program that links funding for TourismOhio to the growth in sales tax revenues of tourism-related industries. The TourismOhio Advisory Board the bill creates will include industry experts to provide guidance and support efforts to promote Ohio tourism, on which visitors spend more than $36 billion annually in Ohio.