State Senator Bill Beagle...
Investing in Ohio’s Agriculture Assets
March  39, 2012

With an annual contribution of more than $100 billion to our state’s economy, agriculture-related industries have proven to be critical cornerstones of Ohio’s most recent successes. Largely composed of family-owned farms and small businesses, agribusiness has long been a vital asset to the State of Ohio.  As our economic comeback continues, it is more important than ever before that we provide job creators with the necessary tools to ensure that they thrive in the years to come.  That is why I recently advocated for legislation that expands access to Ohio’s Agriculture Linked Deposit Program (Ag-LINK). 

Facilitated by the State Treasurer’s Office, the program permits the Treasurer to invest in lending institutions that provide money to eligible agriculture businesses at reduced interest rates.  Senate Bill 281, which I am proud to have sponsored, boosts the maximum amount of money permitted to be invested in agriculture linked deposits. 

Loans that are made through Ag-LINK result in direct investments for communities across Ohio.  By updating this program, we are providing farmers and operators with the ability to manage the rising costs of operation that sometimes come with unpredictable markets.  In a state like ours, the success of our farming community is often translated into the creation of quality, long-term jobs and a bolstered economy. 

Both Senate Bill 281 and its companion legislation, House Bill 415, have received unanimous bipartisan support in their respective chambers.  Additionally, both measures have earned endorsements from the Ohio Farm Bureau.  I look forward to seeing this legislation move forward in the weeks ahead and to watch as Ohio’s agriculture community continues to drive our state’s economy in the right direction. 

As always, I welcome your thoughts and ideas concerning the matters we discuss at the Statehouse. You can reach my office by phone at (614) 466-6247, by e-mail at SD05@ohiosenate.gov or by writing State Senator Bill Beagle, Ohio Statehouse, One Capitol Square, Columbus, OH 43215. I look forward to hearing from you.