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Economy

Ohio minimum wage to increase in 2024

in Community/Economy/Local News

COLUMBUS — Ohio’s minimum wage is scheduled to increase on Jan. 1, 2024, to $10.45 per hour for non-tipped employees and $5.25 per hour for tipped employees. The minimum wage will apply to employees of businesses with annual gross receipts of more than $385,000 per year.

The current 2023 minimum wage is $10.10 per hour for non-tipped employees and $5.05 per hour for tipped employees. The 2023 Ohio minimum wage applies to employees of businesses with annual gross receipts of more than $372,000.

Continue Reading on The Delphos Herald

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Columbus attracting an influx of tourists and their money

in Community/Economy/Local News

COLUMBUS, Ohio (WCMH) — You’ve heard the saying “Columbus is the best place to work, live and play.”

But new data from Experience Columbus shows it is also one of the best places to visit.

Tourism officials said visitor numbers grew by around 16 percent in 2022 and is on track to keep increasing this year and next.

Continue Reading on NBC4

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Columbus gas price decline wipes out previous week’s rate hike

in Community/Economy/Local News/Transportation

COLUMBUS (WCMH) – The ebb and flow of gas prices continues as Columbus motorists experienced a decline in gas prices last week, nearly erasing the previous week’s rise in rates.

GasBuddy is reporting that the average price for gas in Columbus dropped by 8.5 cents, to $3.54 a gallon. That price is 12.9 cents less expensive than a month ago, and 5.9 cents higher than this time from one year ago.

Continue Reading on NBC4

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Study shows increase in Ohio economic competitiveness

in Community/Economy/Local News

COLUMBUS — Ohio business leaders and economics experts recently unveiled data showing Ohio’s economic competitiveness has improved in the last five years, jumping from 24th most competitive among the 50 states in 2018 to 13th in 2023.

The study, led by economists Dr. Timothy Nash of Northwood University and Dr. Jing Li of Miami University, also identified several issues deserving future attention.

“This study shows Ohio’s competitive standing jumped from 24th in 2018 to 13th in 2023 among all 50 states,” said Nash noting  “gains primarily generated by improvements in Ohio’s tax structure, a drop in Ohio state debt per capita, an improved opinion of Ohio’s business climate among national business leaders, dramatically improved auto insurance rates and several tax rate reductions.”

Continue Reading on Crescent News

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Why Columbus is becoming a tourist destination

in Community/Economy/Local News

COLUMBUS, Ohio (WCMH) – It’s spring in Columbus, and for people who live and work in the area, there’s plenty to do and see, but the city is also gaining attention as a tourist destination.

“We have had so many amazing travel writers come into Columbus and experience the city, the destinations, all we have to offer,” said Sara Townes, chief marketing and innovation officer for Experience Columbus.

In fact, Forbes recently published a story calling Columbus a “hidden gem,” and they aren’t the only ones taking notice.

Continue Reading on NBC4

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Columbus gas prices continue to fall

in Community/Economy/Local News

COLUMBUS, Ohio (WCMH) – Columbus gas prices are continuing the downward trend heading into the final month of the calendar year.

GasBuddy is reporting the average price for a gallon of gas in the Columbus area is $3.29, which is 15.9 cents lower than the previous week. It is also nearly 58 cents lower than prices a month ago and 18 cents higher than one year ago.

Continue Reading on NBC4

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New program aims to ‘beautify’ Columbus

in Community/Enviroment/Local News

COLUMBUS, Ohio (WCMH) — City leaders are calling on residents to submit their ideas to “beautify” Columbus.

614 Beautiful is a program that is looking to make improvements to the city through a number of projects, including new parks, landscape enhancements and public art. The ideas are being solicited from the community, with the winning ideas receiving grants up to $10,000.

Continue Reading on NBC4

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Columbus, Ohio is quickly becoming the Midwest’s tech hub

in Economy/Technology

Where the Olentangy and Scioto rivers come together lies the city of Columbus, Ohio, a bedrock town famously known as “Test City, USA,” boasting demographics that mirrored the country’s population, and the home of The Ohio State University. It is steadily becoming an emerging tech scene in the Midwest where startups are finding all the tools needed to develop burgeoning businesses.

Venture capitalists injected over $3 billion into the city over the past 20 years, particularly in healthcare and insurance startups, according to Crunchbase data. Investment into the city startups started picking up around 2017 and really peaked in 2021.

Continue Reading on TechCrunch

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State aims to create $185M in investments, 1K jobs

in Business/Economy/Local News

COLUMBUS, Ohio (WDTN) — Governor DeWine and Lt. Governor Jon Husted have announced the approval of assistance for six projects set to create 1,281 new jobs and retain 747 jobs statewide.

Collectively, the projects are expected to result in more than $91.7 million in new payroll and spur more than $185 million in investments across Ohio, according to the Ohio Tax Credit Authority.

Projects approved by the TCA include:

Boston Retail Products Inc. expects to create 45 full-time positions, generating $2.25 million in new annual payroll and retaining $1.2 million in existing payroll, as a result of the company’s new project in Ravenna. Boston Group designs and manufactures custom metal and plastic retail displays, fixtures, and display protection items for retail stores, hospitals, and pharmacies. The TCA approved a 1.232%, six-year Job Creation Tax Credit for this project.

Continue Reading on WDTN

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