COLUMBUS State rep proposes reviving Issue 1

His proposal would increase the amount borrowed to $800 million.
By JEFF ORTEGA
VINDICATOR CORRESPONDENT
COLUMBUS -- A Republican state representative is trying to resurrect the statewide bond issue voters defeated earlier this month by adding components to appeal to two industries: heavy manufacturing and agriculture.
State Rep. James P. Trakas said he's gathering support for a statewide bond issue next year that's similar to the $500 million Issue 1 that voters across Ohio defeated Nov. 4 by a margin of 51 percent to 49 percent.
But Trakas, a suburban Cleveland Republican, said his proposed ballot initiative would add $250 million for heavy manufacturing and $50 million for agriculture for a total $800 million bottom line.
"There's something for everybody in this ... initiative," Trakas said Monday. "It addresses agricultural needs, it address manufacturing needs, it addresses high-technology needs."
Under the defeated proposal, which was part of Republican Gov. Bob Taft's proposed $1.6 billion Third Frontier Initiative to create high-tech jobs, the state would have borrowed $500 million through sale of bonds, spread out over 10 years, to benefit research and development or the commercialization of new products in health care, advanced manufacturing and other high-tech growth areas.
Adds manufacturing
But Trakas' proposal, if it makes it onto the statewide ballot, would go beyond that by adding $250 million specifically for manufacturing industries.
The manufacturing funds could help companies retool or they could be used for job training and retraining with a requirement that companies would have to hire those they trained using the proposed state funds, according to Trakas' proposal.
The proposed manufacturing funds could also be used for tax credits for companies to buy machinery or build infrastructure, according to Trakas' proposal.
The proposed money for agriculture would help Ohio farmers buy Ohio-made machinery or equipment or help invest in agribusinesses, said Trakas, the majority whip or fifth-ranking GOP leader in the House.
"This is vitally important to the economy," Trakas said.
Issue 1 won big in the Cleveland and Akron areas and a few other areas of the state, but was soundly defeated in many rural counties, according to results from the Ohio secretary of state's office.
Trakas said he expects to introduce a proposed constitutional amendment next month that would place his proposal on the state ballot probably in November 2004. If three-fifths of both the House and Senate approve the proposed constitutional amendment, it would be placed on the statewide ballot.
Orest Holubec, a spokesman for Taft, said the governor has not yet taken a position on Trakas' proposal.