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Ohio bill seeks to expand state-backed venture capital program
March 2011
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COLUMBUS, OhioŚMembers of Ohio's House of Representatives have reintroduced a bill that would expand the size of a state-backed venture capital program. House Bill 43 would increase by $170 million the value of tax credits that can be issued by the Ohio Venture Capital Authority (OVCA) to $550 million. A similar proposal passed the House by a vote of 98-0 in the state's last legislative session, but didn't make it to a vote in the Senate. Created in 2003 and overseen by the Ohio Department of Development, the OVCA's goal is to increase the amount of private investment dollars available to early-stage Ohio companies. The bill has been assigned to the Environment & Small Business Development Committee.

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