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COLUMBUS, Ohio (WCMH) — An additional $700 million in tax revenue is expected to be allocated soon to projects across the state, and the money will be used as part of a “one-time strategic community investment fund.”
“The purpose of these lump-sum payments is to put money back into taxpayers’ pockets through community projects that improve the quality of life across our state,” said Sen. Matt Dolan (R-Chagrin Falls), chairman of the Ohio Senate Finance Committee. “These projects are in addition to the $3.1 billion in tax cuts passed in the last operating budget.”
“These investments will be transformative for Ohio communities, large and small, urban, suburban and rural,” said Ohio Senate Minority Leader Nikki Antonio (D-Lakewood). “While this proposal is not final, we look forward to our continued collaboration to fund these important projects across the state.”
Currently, the funding comes from Senate Bill 288, introduced by Senator Dolan. The largest spending item in the bill is for the “Hamilton County Convention Center District Development,” which would appropriate $46 million for the project. The second largest spending item is the Cincinnati Open tennis tournament, which would be funded with $27.5 million.
“This additional $700 million gives state legislators an opportunity to reinvest in our communities,” said Ohio Senate President Matt Huffman (R-Lima).
The House allocated the money in February before sending it to the Senate. At the time, Rep. Jay Edwards (R-Nelsonville), chairman of the Ohio House Finance Committee, said the Transportation Research Center was one of the key pieces. As the bill currently stands, the center would get $24 million.
“They asked for a lot of money, and it has a big impact on the entire state. They have thousands of employees, and it puts the state in competition with other states,” he said in February. “It’s a competition for economic development in our region.”
The bill also includes smaller funding for pickleball courts, local fairgrounds, small school projects, etc. Other notable funding includes:
- Columbus Symphony Orchestra – $18.5 million
- Downtown Columbus Capital Line – $10 million
- Pro Football Hall of Fame Village – $9.7 million
- Pro Football Hall of Fame Modernization – $7 million
- John Glenn International Airport Renovation – $7.5 million
- Rock and Roll Hall of Fame and Museum Expansion and Renovation Project – $7 million
- Flats River Development – $3.5 million
- Cleveland’s West Side Market – $2.4 million
The Senate Finance Committee will hold hearings on the bill on Tuesday and Wednesday and will likely have the opportunity for public hearings.
