The Ohio House of Representatives holds a significant role in the state's infrastructure development. A nonpartisan analysis by the Legislative Service Commission shows that the State Capital Improvement Program, which involves issuing additional $2.5 billion in general obligation bonds, helps local governments build or repair various essential facilities such as roads, bridges, wastewater systems, and more. This widely popular program was initially proposed by Paul E. Gillmor and Harry Meshel and has been repeatedly approved by Ohio voters over the years. In 2023-24, if the House follows suit, Senate Joint Resolution 4 will be on the statewide ballot for consideration.
High Ratings for Ohio Infrastructure Bonds
Already authorized Ohio infrastructure bonds have drawn AAA ratings from Fitch Ratings and S&P Global. This indicates the trust and confidence placed in these bonds. Cleveland.com's Cory Shaffer reported that over half a billion dollars from the State Capital Improvement Program has flowed to Northeast Ohio cities, villages, and townships, funding nearly 900 projects. Cuyahoga County, the most populous in the region, has received significant help, with more than $241 million going to 172 projects. One of the projects that received the most state money is replacing three deteriorating bridges on Pleasant Valley Road in Independence and Valley View, with the Ohio Public Works Commission providing just over $9.5 million in grants and loans combined with a $15 million federal grant.READ MORE