For the third time in four years, the Ohio Bureau of Workers’ Compensation (BWC) is returning $1 billion to Ohio’s private and public employers.  The BWC provides for workers who are injured on the job to receive care.  For these services, businesses—both public and private—pay premiums each year, protecting their most important asset, their employees.


In recent years, positive investment returns, improvements in worker safety, and strong fiscal management have led to a surplus in the State Insurance Fund.  In 2013 and 2014, private employers in Richland County received $7.6 and $8.33 million and public employers in Richland County received $1.22 and $1.23 million.  In addition to these rebates, cutting rates by 28 percent for private employers and almost 30 percent for public employers and implementing a prospective billing system have saved Ohio businesses $6 billion in total since 2011.


For this year, in Richland County specifically, companies will altogether receive over $9 million in refunds. Public employers will receive approximately $1.26 million and private employers will receive approximately $8 million. This money will go back to the businesses that paid the premiums to the BWC.  Business owners in Richland County can choose to reinvest the money into their company in many different ways: hiring new employees, marketing their products or services, or improving a process that makes them more competitive.


I applaud the BWC for making the right move for Ohio companies in returning these funds to our communities and businesses. I know this money will benefit Richland County and the rest of the state, and I support any effort to make Ohio companies more competitive.

 
 
 
  
Featured Posts

Representative Romanchuk Sworn In As State Representative Of The 2nd House District

 
Columbus - 

State Representative Mark Romanchuk (R-Ontario) was sworn in yesterday as a member of the Ohio House of Representatives for the 132nd General Assembly. He represents the 2nd Ohio House District, which comprises all of Richland County, for a third term.



 
 

An Update On The Ohio General Assembly's Progress

 

As we turn the page to 2014, I wanted to report on the progress The Ohio General Assembly has made in cutting taxes, reforming government and improving workforce development.  My top priority continues to be making Richland County a place where businesses can grow and create jobs that will provide a better quality of life for every family.



 
 

Resolution Pushing For Innovative Metals Institute Clears Legislature

 
COLUMBUS - 

State Representative Mark Romanchuk (R-Ontario)  announced that the Ohio Senate has passed a resolution he sponsored that urges the US Department of Defense to establish the “American Lightweight Materials Manufacturing Innovation Institute.” The House adopted the resolution October 16th.



 
 

Legislation To Rebrand Ohio Workforce Development Centers Moves To Governor

 
COLUMBUS - 

The Ohio House of Representatives today concurred on Senate changes to Substitute House Bill 1, which strives to streamline Ohio’s workforce development efforts and make it easier for Ohioans to utilize the resources that are available to them.