Businesses in Ohio can expect to begin receiving state aid, the Ohio Bureau of Workers’ Compensation said on Wednesday.
The BWC said it plans to distribute $5 billion in dividends to Ohio employers starting on Thursday to help mitigate the effect of the coronavirus pandemic on the state’s economy. The most recent aid will bring the total from the agency to nearly $8 billion.
“We’re happy to be in the position to assist employers across the state during these challenging times,” said BWC Interim Administrator/CEO John Logue in a statement on Wednesday. “It’s our hope these dollars will keep businesses open and safe and people employed.”
More than 178,000 employers will see the dividends, with around $4.3 billion going to private employers and $687 million going to local government taxing districts. Counties that will see the most money include Franklin County at around $559 million, Cuyahoga County at $528 million, Hamilton County at $379 million and Summit County at $241 million, the BWC said during its announcement that the funding had been approved in November. The individual employer slated to receive the largest check is the city of Columbus, which is set to see nearly $64 million.
The December dividends follow a similar payout of $1.54 billion in April and $1.3 billion in October.
The BWC said employers who are part of the State Insurance Fund with a reported payroll greater than zero who have been billed premium and completed their payroll true-up for policy year 2019 are eligible to receive funds, as long as they meet those requirements as of October 2, 2020.
Fund will first be applied to credits to an employer’s BWC account, with the remainder sent by check through the mail.
Gov. Mike DeWine was the one who proposed the plan.
“This is about keeping businesses open and people employed,” DeWine said during the original proposal last month.
For more information about when employers can expect to receive checks, visit the BWC’s FAQ website here.
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Jordyn Pair is a reporter with The Ohio Star. Follow her on Twitter at @JordynPair.