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Week in Review: July 25, 2021

Written on Jul 23, 2021

Provided by Hannah News Service

ADDICTION/SUBSTANCE ABUSE

Ohio and its political subdivisions could be in line for more than $1 billion to help address the opioid epidemic after the announcement of a $26 billion nationwide agreement with opioid manufacturer Johnson & Johnson and the three largest distributors of the drugs announced by Ohio Attorney General Dave Yost on Wednesday. Yost's office said that in addition to paying the monetary settlement, Johnson & Johnson along with Cardinal Health, McKesson and AmerisourceBergen will have to make significant changes to help prevent a similar crisis from happening again. A spokesman for Yost said if the state receives full participation by its political subdivisions in the settlement, Ohio could receive up to $829 million from the three distributors and up to $197 million from Johnson & Johnson.

ECONOMIC DEVELOPMENT

Ohio could see over 15,000 new jobs, $13 billion in economic activity and $2.5 billion in tax revenue in the next 25 years if it takes certain steps to promote Advanced Air Mobility, according to a recent study by Crown Consulting and other partners. The findings were discussed during the recent “Ohio Air Mobility Symposium” organized by Ohio State University students and featuring panelists that included DriveOhio Unmanned Aircraft Systems Center Director Fred Judson.

EMPLOYMENT/UNEMPLOYMENT

For the week ending July 17, the Ohio Department of Job and Family Services reported 12,619 initial traditional unemployment claims to the U.S. Department of Labor. The number of initial traditional unemployment claims increased by 2,666 since last week, when ODJFS reported 9,953 initial claims.

TAXATION

Tax Commissioner Jeff McClain has put himself in the unusual position of asking the Ohio Supreme Court to remand complaints filed by an air delivery company for tax periods dating to 2007 that he had previously urged the state Board of Tax Appeals to dismiss. The Court granted his request Thursday, finding “tolled” or extended filing deadlines in COVID-19 omnibus 133-HB197 (Powell-Merrin) apply to administrative proceedings -- including tax appeals -- as well as civil and criminal and civil cases.

UNEMPLOYMENT COMPENSATION

Both jobs and the unemployment rate increased in June, according to the Ohio Department of Job and Family Services. The unemployment rate increased from 5% in May to 5.2% in June, while nonagricultural wage and salary employment increased by 31,300, from 5,289,500 to 5,320,800. The number of workers unemployed in Ohio in June was 291,000, up from 278,000 in May. The number of unemployed has decreased by 297,000 in the past 12 months from 588,000. The June unemployment rate for Ohio decreased from 10.3% in June 2020. The U.S. unemployment rate for June was 5.9%, up from 5.8% in May, and down from 11.1% in June 2020.

WORKFORCE

Lt. Gov. Jon Husted announced Tuesday that the 10th application period for the state's TechCred program will open Sunday, Aug. 1 at www.TechCred.Ohio.gov and close on Tuesday, Aug. 31. The first eight rounds have led to approval of 1,310 businesses and 23,723 credentials. The ninth round was held in June, and its results will be released in the coming weeks.