Good News For The Ohio Economy

by Kelly Choate on September 17, 2012 at 6:33 am

Our area’s state representative said the Ohio economy is on the upswing.

Brian Hill said shale development is still in the beginning stages in Ohio, but the oil and gas industry is already boosting the economy.

"Gas and oil independence from the world would be great," said Hill.  "Natural gas prices are extremely low.  It’s helping manufacturing here in Ohio and bringing back jobs to places like U.S. Steel.  We’ve added over 200 jobs in northern Ohio to help make pipe for this gas industry."

As for the Ohio budget, Hill said the numbers are looking better than originally predicted.  He said there’s roughly an extra 250 million in the rainy day fund.

"The rainy day fund is basically excess money in the general fund," said Hill.  "The general fund is used for numerous things from prisons to Medicaid to public schools and local governments."

Hill said rebounding from an eight billion dollar deficit to an excess of 250 million is quite an accomplishment for the state of Ohio.