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Hicks Partners Newsletter - Insights and Strategies for March 4, 2025

Hicks Partners Newsletter - Insights and Strategies for March 4, 2025

Ramaswamy Enters Ohio Governor's Race; All Ohio Future Fund Showing Early Returns; ESP Debate Heats Up; Hicks Partners Launches AI Budget Insider



March 4, 2025

Ramaswamy Enters Ohio Governor's Race


Vivek Ramaswamy officially entered the Ohio’s governor race last week and quickly received President Trump’s endorsement. The biotech entrepreneur and Cincinnati native enters the race as the frontrunner with promises to continue the MAGA movement in Ohio.

Attorney General Dave Yost remains in the race, releasing a measured statement acknowledging Ramaswamy’s support from the President, but questioning his commitment after dropping out of the presidential race and abruptly leaving Trump's DOGE effort.

In his campaign launch, Ramaswamy outlined several policy priorities:

  • Eliminating state income and property taxes
  • Imposing work requirements for government benefits
  • Reopening mental health facilities
  • Introducing merit-based pay for educators

Ramaswamy has secured endorsements from State Treasurer Robert Sprague, Secretary of State Frank LaRose, and State Senator Kristina Roegner, who is running to succeed Sprague.

 

   Trump's endorsement has been decisive in recent Ohio GOP primaries, boosting JD Vance and Bernie Moreno into the US Senate.  Early polling suggests it could be equally impactful now.  However, new Lt. Governor Jim Tressel remains the wildcard—his high name ID and favorable support throughout the state would make him an instant contender—if he decides to run. 

All Ohio Future Fund Showing Early Returns


The All Ohio Future Fund has proven its value with a $14.6 million investment that secured First Quality Tissue Midwest's $984 million facility in Defiance County. This key funding helped Ohio win over competing states, resulting in the county’s largest economic development project which will create over 400 new jobs with $22.5 million in annual payroll by 2032.

 

Established in the state's latest biennial budget, the $750 million All Ohio Future Fund was designed to boost Ohio's economic competitiveness by preparing sites for major development opportunities. This case demonstrates exactly how the fund is intended to work—making sites development-ready for job-creating investments.

 

The Ohio Tax Credit Authority supplemented the Future Fund investment with tax credits worth $3.39 million. In return, First Quality Tissue has agreed to maintain operations at the site for at least 13 years.

   The All Ohio Future Fund represents a proactive approach to economic development that's already showing impressive returns. As more sites become development-ready across Ohio, we can expect additional major announcements in the coming months.  

ESP Debate Heats Up 


Ohio's electric utilities are pushing back against provisions in SB 2 and HB 15 that would eliminate Electric Security Plans (ESPs), warning the move could jeopardize the state's economic development momentum and jeopardize grid reliability.

 

The utilities proposed replacing ESPs with a forward-looking, multi-year rate plan approved by the PUCO with annual true-ups. Industry executives pointed to economic benefits realized in states like North Carolina, South Carolina, and Florida that have adopted similar approaches.

 

The substitute SB 2 already includes several revisions, including:

  • A five-year rate case requirement
  • Adjustments to tax incentives
  • Changes to infrastructure approval processes

 

Both the House and Senate expect more hearings and possible significant amendments to the two bills before they are voted out of committee.

  This debate represents a critical juncture for Ohio's energy regulation. Finding the right balance between modernized ratemaking, grid reliability and customer protections is essential as Ohio competes for major economic development projects. How lawmakers resolve these complicated issues will impact Ohio's utility landscape and economic competitiveness for years to come. 

Hicks Partners Launches AI Budget Insider


As a valued Hicks Partners Insider subscriber, we’re excited to give you exclusive access to our Budget Insider 1.0, your go-to resource for the Ohio FY 2026-27 Operating Budget.

 

Inside, you’ll find:

  • Key budget documents & summaries
  • Expert analysis
  • A mini-AI assistant trained on the latest budget data to help answer your questions

 

Access the Budget Insider 1.0 here: https://hickspartners.com/hicks-partners-budget-insider/ and look for more updates and refinements as the budget process proceeds.

We appreciate your engagement and look forward to keeping you informed throughout the budget process!


Our Grant Alert list is updated! Review the list of ongoing grant opportunities here: 

ICYMI: Extra Insights


About Us

Hicks Partners, LLC is a multidisciplinary business consulting firm providing public relations, government affairs and business development services. We deliver powerful results for clients seeking to enhance their image, impact policy decisions, and grow their bottom line.
Contact us at Info@HicksPartners.com or at (614) 221-2800.
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