In 2011, Ohio’s rainy day fund had only 89 cents in it and today that number is over $2 billion. Ohio has made a remarkable comeback, but due to the potential of economic calamity, we must continue our fiscally conservative budgeting. In addition to smart financial decisions, Ohio must also diversify its economic portfolio. These new industries include tech and financial service firms, while also include augmenting our staple industries.
Ohio was built on its manufacturing and agribusiness sectors and it is imperative that we encourage growth and stability in those areas. Ryan also realizes how vital it is that we attract new industries to these existing sectors that can strengthen our economy. One such example is the petrochemical boom initiated by the fracking revolution in eastern and southeastern Ohio.
In order to attract and retain these businesses, communities must be able to develop their land. Ryan supports additional site development funds for rural areas so that they can take part in Ohio’s economic success. The results yielded from these strategies will create advances in targeted industries such as advanced manufacturing, energy, polymers and chemicals will create scores of new jobs for Ohioans and generate tax revenue for local governments.