COLUMBUS– State Senator John Eklund (R–Munson Township) today praised a new report showing Ohio is ranked seventh out of 50 states for its fiscal condition.
“This is very positive news, as a strong fiscal foundation helps generate economic activity and growth, which means greater opportunity for all Ohioans,” said Eklund. “Governor Kasich has shown great leadership in moving Ohio into a new and better era.”
The study was conducted by George Mason University’s Mercatus Center and was based on data from fiscal year 2012. The researchers took several factors into consideration including each state’s long-term solvency.
In 2011, Ohio faced a projected $8 billion budget shortfall and the state’s rainy day fund had sunk to a balance of just 89 cents. “Responsible, conservative budgeting that year and since has eliminated that shortfall without raising taxes. Today, the rainy day fund contains nearly $1.5 billion,” Eklund stated.
In recent years, Ohio has been recognized for achieving several other notable benchmarks, including having the state’s credit outlook upgraded by Moody’s Ratings. Ohio has also been ranked as having one of the most improved business climates in the nation. In one report, for example, Ohio improved 13 points in just one year.