I keep seeing commercials on TV about issue one , and really haven't understood anything about it up until today.
So , here is my understanding :
It's a bond issue to renew a $700m bond that was originally passed in 2002 (which was a 1.6b version). The purpose of the
grant is to 'encourage hi-tech jobs' in the state of Ohio via grant funding of startups , and other businesses.
From the 2002 version through today , a total , verifiable number of jobs that were created is in the ballpark of 5,000. According to some analysts it's in the area of 40,000 , but they haven't provided any data on how they figured this out (I haven't found any).
Is my understanding correct in this? From looking at the numbers, they spent over $300,000 to create each tech job , which may exist for a indefinite duration. From the little i've read in their fact sheet , it seems like the spending for job creation is on-par with the bank bailout/stimulus package passed by the federal government.