The Dark Horse advocates for the chartering of a state owned and state run bank which will be known as the Bank of Ohio (BO or BOO during spooky season). The Bank of Ohio will hold all funds for the Ohio government. Ohio funds are currently kept with various qualifying depository financial institutions. The withdrawal of state funds, which are considerable, from these institutions to be moved to the Bank of Ohio will no doubt be disruptive and would have to be a measured process occurring over whatever period of time is determined reasonable for the financial stability of those institutions. 

  • The Bank of Ohio will provide loans and financing to small and medium sized businesses in the state of Ohio at reasonable rates; availability of capital being a necessary component of business growth. 
  • The Bank of Ohio will work in conjunction with local private banking entities to identify businesses for loans. 
  • The Bank and its partners will also provide services to small businesses that further facilitate their growth with business practice knowledge and small business services. 
  • These same services will be provided to small and medium sized farmers along with additional guidance on new agricultural technologies, climate resilience, and best practices. This will be particularly important as we undergo major agricultural disruptions. 
  • The Bank of Ohio will provide student loans to (in and out of state) students attending public universities in Ohio. 
  • Loans will be provided at reasonable, competitive rates provided that universities have some responsibility in repayment of the loans should the loan recipient prove unable to meet repayment obligations. 
  • The Bank of Ohio will absorb and expand the operations of the State Infrastructure Bank, providing financing for new infrastructure projects. 
  • Infrastructure projects will include the development of deployment of a “smart” electric grid and rural broadband. 
  • The greater funding of the Bank of Ohio will facilitate the infrastructure investments Ohio requires to meet the demands of the 21st century. 

Banking, when well managed, tends to be a profitable business (more so when recklessly managed). The Bank of Ohio will more than likely run a profit. The profits will be automatically reinvested with the Bank of Ohio. However, the state government should have the option to use the annual profits of the Bank to mitigate budgetary shortfalls. 

Entrepreneurialism is declining across the country and in Ohio. Entrepreneurialism is the lifeblood of economic growth, of innovation. Making certain the public funds of the people of Ohio are well invested in the people of Ohio by providing capital and loans to new businesses will go a long way in supporting the entrepreneurs of Ohio.