COLUMBUS, Ohio (AP) - Voters will be asked in May to allow the state to issue $700 million in bonds over four years to continue funding a program credited with creating 48,000 jobs since its 2002 inception.
The Democratic-led House and Republican-led Senate both approved the Third Frontier measure on Wednesday, and it was sent to the secretary of state's office for placement on the May primary ballot.
On Tuesday, a committee of members from both chambers met to reach a compromise on the amount of funding needed. Gov. Ted Strickland calls the bipartisan agreement "a strong validation of the most successful economic development and job-creating program in Ohio."
The program provides startup money for companies in targeted industries such as alternative energy, biomedicine and advanced materials.