DaytonDailyNews.com

COLUMBUS — Democratic Gov. Ted Strickland and the two Republican legislative leaders — House Speaker Jon Husted and Senate President Bill Harris — today, April 2, announced agreement on a $1.57 billion economic stimulus package that Strickland said would create 57,000 jobs.

It replaces Strickland's proposal to put a $1.7 billion bond issue on the November ballot, a proposal that Husted and Harris never embraced because it relied so heavily on borrowing.

"Today I am pleased to announce another bipartisan victory for the people of Ohio," Strickland said in the Statehouse cabinet room, flanked by Husted and Harris.

The new plan also will require a ballot issue but for just $400 million in bonds for the Clean Ohio program — $200 million for preserving farmland and green space and $200 million for cleaning up brown fields to help cities with economic development. Overall, the plan would represent about $700 million less in borrowing than Strickland's first plan that he said would have created 80,000 jobs.

Other parts of the new package include:

• Local roads, bridges, sewers and water systems: $400 million

• Historic preservation tax credit for historically significant buildings : $120 million

• Logistics and distribution industry: $100 million

• Higher education internships and cooperative programs: $250 million, to be matched dollar for dollar with private sector investments.

• Bio-based products such as plastics produced from Ohio crops: $50 million

• Biomedical: $100 million

• Advanced and renewable energy projects such as wind, solar and clean coal: $150 million.

Besides the $400 million from the bond issue, money for the plan would come from:

• Liquor profit-backed proceeds from Development Department: $184 million

• General revenue transfers: $370 million

• Existing Coal Development Authority funding: $66 million

• Ohio Tobacco Prevention Foundation: $230 million

• Excess Ohio Turnpike revenue: $200 million

• Public works funding: $120 million.

The three leaders said the plan would create immediate jobs through the local public works programs and create jobs crucial to Ohio's economic future. The money for internships and co-op programs will help keep college graduates in Ohio, they said.

Contact this reporter at (614) 224-1608 or whershey@DaytonDailyNews.com.

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