05/21/2019

BWC Plans $1.5 Billion Rebate For Ohio Employers

Governor calls it "great news for Ohio"

Ohio employers are poised to receive a $1.5 billion rebate as the result of strong investment returns for the Ohio Bureau of Workers' Compensation (BWC).

Governor Mike DeWine and BWC Administrator/CEO Stephanie McCloud announced the proposal on May 20, during an event at Dynalab Electronic Manufacturing Services in Reynoldsburg. BWC said it earned $1.3 billion in net investment income in 2018, a net return of 5.1 percent on assets of $26.9 billion.

"This is great news for Ohio," said DeWine. "This money will help Ohio employers expand their businesses, create jobs and invest in capital improvements. Ohio’s economy is strong, and this proposal reinforces our goal of creating more jobs in the state."

Please select this link to read the complete article from Crain's Cleveland Business.