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Week in Review: Oct. 30, 2022

Written on Oct 30, 2022

ECONOMIC DEVELOPMENT

The Ohio Third Frontier Commission recently approved $3.6 million in funding to help entrepreneurs develop innovative products and move them toward the marketplace through the Technology Validation and Start-up Fund. "We are investing in promising research and innovation to build our economy and improve the quality of life for Ohioans." Ohio Department of Development Director and chair of the commission Lydia Mihalik said the funding "will enable entrepreneurs to push innovative ideas forward" and the startup companies "are building the companies and jobs of tomorrow.”

ELECTIONS 2022

The Ohio Manufacturers' Association (OMA) said Monday that limited copies of its biennial election guide, the 2022 Ohio Election Guide created with the assistance of Hannah News, are still available to purchase. The cost of the guides is $20 each. Copies can be obtained by calling 800-662-4463 or emailing oma@ohiomfg.com. At nearly 200 pages, this non-partisan publication -- published every election year -- serves as a resource for all Ohio voters.

Fox News Channel will hold a town hall featuring U.S. Senate candidates Tim Ryan and J.D. Vance on Tuesday, Nov. 1 from 6 to 7 p.m. The candidates will not appear face to face, but instead will take questions separately from a live audience and moderators Bret Baier and Martha MacCallum in Columbus.

EMPLOYMENT/UNEMPLOYMENT

According to new figures released Friday by the Ohio Department of Job and Family Services, the state's unemployment rate remained at 4% in September. The state lost 7,600 nonagricultural wage and salary jobs over the month. The number of workers unemployed in Ohio in September was 232,000, up from 229,000 in August. The number of unemployed has decreased by 38,000 in the past 12 months from 270,000. The September unemployment rate for Ohio decreased 0.7 percent from 4.7% in September 2021. The U.S. unemployment rate for September 2022 was 3.5%, down from 3.7% in August 2022, and down from 4.7% in September 2021.

MARIJUANA/HEMP

There are nearly 310,000 patients registered in the Ohio Medical Marijuana Control Program (MMCP), according to the Ohio Board of Pharmacy. Specifically, there are 309,548 registered patients, OBP said in its September MMCP patient and caregiver numbers update. Of registered patients, 19,144 are military veterans, 20,446 are classified as "indigent" and 1,194 have a terminal illness. Of the 309,548 registered patients, only 161,690 have an active registration and active recommendation.

TAXATION

The Ohio Virtual Tax Academy, which is open to business owners, tax professionals and any other interested parties who want to learn the latest Ohio tax news and insights from the front-line experts at the Ohio Department of Taxation, will be held on Thursday, Nov. 17 from 8:30-11:30 a.m. Topics will include the following:

- Personal and School District Income Tax Updates

- Pass-Through Entity Tax Update

- Sales Tax/Applications to Construction Contracts and Exemptions for Motor Vehicles

 This feature was provided by Hannah New Service and selected for you by OSCPA Government Relations Staff.