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State Senator Bill Beagle
Recent Signs
Point to Continued Economic Growth in Ohio
COLUMBUS - State Senator Bill Beagle (R-Tipp City) today highlighted
new signs pointing to improvements in Ohio's business climate as a
result of continuous legislative efforts. 2015 marks the sixth
consecutive year Ohio has set a new record for entities filing to do
business in the state and a 40-year low in the number of Ohioans filing
for unemployment benefits.
“I'm proud of our efforts to improve Ohio's business climate in order
to give small businesses and families the best chance to thrive in our
state." said Beagle. "Record business filings and promising employment
numbers point to the fact that pro-growth policies rooted in smart, not
more, government result in an increasingly positive economic outlook."
Last year, 9,746 new businesses registered with the Ohio Secretary of
State's office, exceeding the previous year's record-setting number by
3,971 businesses. The rising number of new businesses has contributed
to the 385,000 new private sector jobs created since January 2011.
In 2015, Senator Beagle cosponsored legislation cutting the state's
business filing fees by 21 percent, making Ohio's $99 filing fee the
lowest fee in the Midwest, saving businesses an estimated $2 million
annually.
Fewer Ohioans filed for unemployment benefits in 2015 than in any year
since 1973. Initial unemployment claims have dropped by 63 percent
since the recession ended in 2009.
"Our focus will continue to be on jobs and opportunities for all
Ohioans so that small business owners and employees alike feel
confident that Ohio is where they should be in order to succeed."
Beagle added. "Recent growth can be attributed to lowering the tax
burden on Ohioans and reducing regulatory reform across the board."
At 4.5 percent, Ohio continues to outperform the national unemployment
rate of 5.2 percent.
Other positive steps taken toward improving Ohio’s business climate
include cutting income tax rates to the lowest level since 1982 and
continuing the state’s 75 percent deduction on the first $250,000 of
income for small businesses while creating a 3 percent flat tax for
small businesses earning more than $250,000.
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