News and Analysis
The auto industry is a key employer in the Buckeye State, so it’s good news that Ohio’s largest manufacturing employer, Honda Motor Co., says it sees a stable automobile market for 2020, despite current uncertainties.
Honda Motor Co. and its CEO, Takahiro Hachigo, told Automotive News that the company, among other things, is focused on improving fuel economy and vehicle safety. He mentions Honda’s relationship with GM, in which the two manufacturers are working together on hydrogen fuel cell stacks, electric car components, as well as Cruise — the autonomous driving company. 11/25/2019
Surveys show a sizable percentage of manufacturers cite the fast pace of digital change as a major concern. OMA Connections Partner RSM recently produced this video to look at 3D printing’s evolving role in the manufacturing industry — and where the technology is headed. 11/25/2019
Food manufacturers are invited to join the Food Export Association of the Midwest and the Ohio Development Services Agency for an upcoming seminar that will provide practical advice to grow export sales. This Dec. 3 event will be held in Reynoldsburg — from 9:30 a.m. to 4:30 p.m. Cost is $25 a person and you must register by Saturday, Nov. 30. 11/25/2019
As your business plans for the year ahead and beyond, it’s valuable to have expert insight on the economy and manufacturing conditions. That’s why we’re hosting a special webinar Thursday, Dec. 12, featuring leading economist George Mokrzan, Ph.D., director of economics at OMA Connections Partner Huntington National Bank.
Dr. Mokrzan will provide important information — from economic forecasts, to the outlook for trade policy, to special areas such as auto sales, energy markets and business capital spending. The event is free for OMA members; $39 fee for non-members. 11/25/2019
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