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Ohio economic-stimulus committee raised $67,500
Tuesday,  June 10, 2008 11:01 AM
THE COLUMBUS DISPATCH

A committee that Gov. Ted Strickland formed but ultimately didn’t need to pass an economic-stimulus plan raised $67,500 and spent $30,420 before it went inactive, records show.

The contributions included $30,000 from investment banking firm Robert W. Baird & Co. and $25,000 from financial-services company Wachovia, according to information provided this morning by the Building Ohio Jobs Committee.

The other contributions were $5,000 from the law firm Benesch, Friedlander, Coplan & Aronoff, $5,000 from AXIA Consulting and $2,500 from Majestic View Farms, described as a family organization in Columbus.

The committee is structured as a 501(c)4 nonprofit civic organization, meaning it can accept corporate contributions with no limits and is not required to report contributions or expenses.

But the committee released its financial information at the request of The Dispatch and other media.

Expenses included $17,691 in compensation and expenses for two staff members, $8,842 in legal fees and $3,750 for Web site design and development.

The committee is not being terminated and is keeping its $37,080 balance for possible future uses, spokeswoman Lauren Goode said. Contributions will continue to be accepted but not solicited, she said.

A companion political action committee also was created, but it wasn't needed and had no financial activity, she said

Strickland created the committees after announcing during his State of the State address in February a proposed $1.7 billion spending plan, funded mostly by selling bonds, to boost the state’s slumping economy.

The governor vowed to go to the ballot to pass the issue if the legislature refused, but he agreed to a compromise $1.57 billion plan that relies much less on borrowed money.

The legislature has passed the plan, but Strickland has said he will line-item veto one provision that was added to ban spending on certain biomedical research and also has concerns about using $200 million in state rainy-day funds.

The plan calls for spending millions of dollars on local road and bridge projects, a college internship and cooperative-education program and other uses.

One component of the package, a $400 million bond issue to reauthorize the Clean Ohio Fund for preserving green spaces and reusing industrial land, will appear on the Nov. 4 ballot.



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