News and Analysis
Yesterday, Nov. 21, the U.S. Senate approved a four-week spending bill to hold off a possible federal government shutdown. President Donald Trump signed the bill last night.
Among other things, the stopgap measure keeps the Export-Import Bank (Ex-Im) open until Dec. 20 as federal lawmakers try to negotiate a long-term re-authorization. More than 200 Ohio manufacturers have utilized Ex-Im since 2014. Late last week, the U.S. House passed a measure to reauthorize the bank for 10 years. 11/21/2019
It was reported this week that JobsOhio — the state’s non-profit economic development arm — is exploring a new, “enhanced” investment strategy that would allow it to own stakes in private companies. Cleveland.com says more details may be released at JobsOhio’s next board meeting in December. 11/21/2019
Ohio is one of the nation’s top states for middle class families, according to a new study by SmartAsset.com. The Buckeye State was 13th best in the comparison, which considered factors such as percentage of households in the middle class, median household income adjusted for cost of living, median home value, and home ownership rates.
SmartAsset defined middle class as households earning between $35,000 and $100,000. 11/19/2019
Ohio Attorney General Dave Yost addressed this week’s OMA Government Affairs Committee meeting — the committee’s fourth and final scheduled gathering of 2019. Among other issues, AG Yost briefed members on a recent settlement to avoid federal trial that involved major drug distributors, an opioid manufacturer, and two Ohio counties.
The meeting also featured a comprehensive review of this year’s state legislative activity affecting Ohio manufacturers, including revisions to the tax code, workforce development initiatives, and the nuclear energy bailout bill. OMA General Counsel Chris Slagle, partner at Bricker & Eckler LLP, discussed potential statewide ballot initiatives for 2020, pending employment law legislation, and possible tort reform. Finally, members were given a preview of the OMA’s “Truth About Dark Waters” campaign.
The OMA will soon be setting the 2020 meeting dates for all policy committees. Stay tuned. 11/13/2019
The stakes are high as the U.S. House is scheduled to vote today (Nov. 15) to reauthorize the Export-Import bank (Ex-Im).
More than 200 Ohio manufacturers have utilized Ex-Im since 2014, producing a total export value of $2 billion. The agency, which guarantees loans for U.S. manufactured goods sold abroad, is set to see its charter expire after Nov. 21 if Congress doesn’t act.
Republican members of Congress need to hear support TODAY for reauthorization. Use this link to find your federal representative, then call their office to ask him/her to vote for House Resolution 4863 to reauthorize Ex-Im. You can reference the strong support of your industry as described in this letter from the National Association of Manufacturers and The Ohio Manufacturers’ Association. 11/14/2019
This week, the Ohio House Civil Justice Committee favorably reported House Bill 251 on an 11-0 vote. The bill, which would revise the statute of limitations for legal disputes related to business contracts, could be on the House floor next week.
The OMA supports HB 251. Speaking on behalf of Ohio’s leading business groups, Chris Ferruso of NFIB Ohio said in his testimony: “This bill is about providing certainty for business owners. Currently, a business owner must maintain documents and records pertaining to a written contract for eight years. This bears a very real expense. With the increase in technology and more sophisticated monitoring of contractual relationships, there is no reason to maintain these records for such a long duration.” 11/14/2019
In its testimony, the Alliance shared its broad concerns with House members. The Alliance noted that it could only support changes to the law if the changes: (1.) were fair to employers and employees; (2.) did not impose undue burdens on employers who have not engaged in egregious or criminal conduct, and (3.) were clear and unambiguous on their face.
The bill is expected to be amended in future hearings. 11/14/2019
Manufacturing is one of the industries most susceptible to cyberattacks. OMA Connections Partner Clark Schaefer Hackett has published this checklist for executives to help them defend against cyber threats. Also, take CSH’s two-minute quiz to receive a personalized report to help you address your company’s areas of weakness.
Also, if you missed this week’s informative cybersecurity webinar with subject-matter expertise from OMA Connections Partner GBQ Partners, it is available here. 11/14/2019
This week, Ohio House Republicans chose Mark Fraizer (R-Newark) to fill a vacancy in the 71st District. The move comes after State Rep. Scott Ryan (R-Granville Township) announced last week he was resigning to become executive director of Ohio Third Frontier, which works to boost tech startups. Fraizer, a member of Newark City Council, has worked in the banking sector since 2011, and is a senior project manager in information technology at Huntington National Bank. 11/14/2019
The Ohio Manufacturing Extension Partnership (Ohio MEP) is conducting its annual manufacturing survey — and your business is encouraged to participate by Dec. 15. By doing so, you’ll help shape the offerings and services of Ohio’s manufacturing support organizations. Responses are confidential; the survey cannot link responses to specific companies.
Results will be released in February. Participants will receive their choice of one of 12 business books. Also, a $5 donation will be made to Harvest for Hunger for every response. 11/13/2019