Nearly every day we hear about the unemployment rate dropping, the stock market hitting record highs, and businesses expanding to provide more opportunities for Ohioans. We hear this on a national level and see it happening right here in our state.
State government plays a role in this economic expansion by implementing policies that cut regulations, foster a pro-growth environment, and reduce taxes for hardworking Ohioans. I strongly support these efforts which have resulted in providing thousands of people across the state the opportunity to find good-paying jobs.
In fact, it was reported last week that the unemployment rate in Ohio is at its lowest in nearly two decades.
The state's two-year operating budget was recently signed into law and includes even more reforms that will continue to grow our economy.
The new budget implements major regulatory reforms. Overly burdensome and unnecessary rules are a barrier to new economic investments and job growth in Ohio. As a small business owner myself, I can tell you that the elimination of unnecessary government rules allows small business owners to spend more time growing their businesses and less on senseless mandates created by bureaucrats in Columbus. This results in more revenue that is spent on hiring employees, increasing wages, and upgrading equipment.
If you need another example of how the business-friendly climate is benefitting Ohioans, look no further than news out of Wood County. Earlier this week, Amazon announced that they would be investing $200 million to create a new facility in Rossford. 1,000 full-time workers earning a minimum of $15 per hour will be hired when it opens next fall. This is in addition to the 1,500 jobs Amazon is creating in Akron thanks to a new facility there.
We also enacted numerous tax reforms in the budget. We included a 4% tax cut for all Ohioans and eliminated the bottom two tax brackets to help lower income families. We also ensured that tax relief for small business owners remained part of the bill, providing them opportunities to invest more money into their businesses and employees.
I am proud of our work to return money to taxpayers. While also funding critical services for Ohio's children and families, and protecting Ohio's most precious natural resources, like Lake Erie. We were able to increase funding for primary, secondary, and higher education and allocate additional money to help support Ohio's public libraries and local governments.
Ohio is moving forward, and it motivates me to work even harder to ensure that we are setting Ohioans up for success. Thank you for your helpful feedback and ideas during the budget process. If have questions, concerns or ways we can continue working together please don't hesitate to reach out to me by email at Gavarone@OhioSenate.gov or by phone at (614) 466-8060.