COLUMBUS, Ohio (WCMH) — Ohio voters approved continuing to fund the state’s major infrastructure projects through a $2.5 billion bond issue on the primary election ballot Tuesday.
Issue 2 will, through a state constitutional amendment, allow Ohio to issue bonds to help local governments pay for infrastructure projects, including roads and bridges, wastewater treatment plants, and more, via the State Capital Improvement Program.
“Our members think infrastructure is important because they drive on the roads every day, and they want them to be safe and they want them to be, to have good quality roads so they don’t damage our cars or trucks or commercial vehicles,” Ohio Chamber of Commerce President Steve Stivers said.
A “yes” vote on the ballot extended the bond issue.
“Issue 2 is important for local infrastructure. Issue 2 will help create about 35,000 good-paying jobs, mostly construction jobs,” Stivers said.
The program will fund $2.5 billion over 10 years, or $250 million per year, for those projects. This is an increase in funding of $50 million per year.
While the bond issues won’t increase residents’ taxes, those state taxes would be used to pay down the bond issues over a possible 30-year period.
“We have lots of discussions about what we should spend money on, obviously, but almost all Ohioans agree on roads and bridges and infrastructure, and all Ohioans benefit,” Ohio Speaker of the House Matt Huffman said.
The bond program was first instituted in 1987, with voters approving it three times since – in 1995, 2005, and 2014. That first bond issue was for $120 million per year.
Election results are unofficial until certified by their county’s board of elections.