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Gov. DeWine announces the "Investing in Ohio Initiative," plans to invest $1 billion back into Ohio's economy

"It is really time for us to be bold," Governor DeWine said on Monday.

COLUMBUS, Ohio — "After what has been an extremely challenging time in Ohio, we have an opportunity with this budget, to make the kinds of investments that will bring renewal and recovery to the great state of Ohio." 

On Monday afternoon, Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced a new program focused on infusing a total of $1 billion back into Ohio's economy. 

During the scheduled budget meeting, the politicians announced the Investing in Ohio Initiative, which will provide aid to local businesses and Ohioans, while also promoting all that Ohio has to offer to people around the country. 

RELATED: WATCH LIVE: DeWine unveils Ohio's 2-year spending plan

"The Investing in Ohio Initiative would provide $50 million to tell a national audience about Ohio’s excellent career opportunities, top-tier colleges and universities, amazing getaways, and the inviting communities we have for people to call home," Governor DeWine tweeted during the live-streamed press conference. 

The Governor specified that as people around the country are looking for more reasonably-priced places to live, he would like to see Ohio come to the top-of-mind. 

"As people are packing up to look for more affordable places to locate their businesses and live their lives, we want to invite them here by telling the story of Ohio. We want to position Ohio as the place to be," the Governor wrote.

RELATED: DeWine orders $390 million across-the-board cuts

The Investing in Ohio Initiative would also provide nearly half a billion dollars to businesses, infrastructure, and constituents around the state, with some additional assistance set aside for businesses that opened in 2020 and during the COVID-19 pandemic. 

"Our plan would include $20 million specifically for businesses that started in 2020," Governor DeWine tweeted during the press conference. "Many of these businesses were excluded from receiving financial assistance. We have to ensure they are included because they too have faced great hardship."

You can watch the full press conference with Gov. DeWine and Lt. Governor Husted in the player below: