OH: BWC Visits Youngstown Employer

                               

Youngstown, OH (WorkersCompensation.com) - The top executive for the Ohio Bureau of Workers’ Compensation (BWC) visited a Youngstown business today to tout Ohio’s strong business climate, workplace safety, and the $1.5 billion employer dividend that has been sent to employers throughout the state this fall.

The DeWine-Husted administration scheduled a series of events across the Mahoning Valley today featuring various state agencies. BWC Administrator/CEO Stephanie McCloud attended an event at General Extrusions Inc. and praised the company for its plans to invest its nearly $221,000 dividend check from BWC into workplace safety efforts and growing the business.  

“Part of our administration’s efforts to create a favorable business climate is to help employers reinvest in their business and their people,” said Governor DeWine. “The dividend checks mailed this fall will help employers do that while also focusing on workplace safety.”

McCloud told General Extrusion employees and others gathered that the dividend checks were possible this year because companies across Ohio were making the safety of their employees a priority, keeping injury claims and workers’ comp costs down.

“Our hope is employers across the state use these funds to further invest in safety,” said McCloud, who presented General Extrusions owner Herb Schuler Jr. a ceremonial check for $220,728.64. “As we know, safe workplaces mean fewer accidents and injuries, steady production and lower costs. That’s good for all of us.”

BWC issued the dividends in September and October to nearly 170,000 Ohio employers following strong investment returns, falling injury claims and other cost savings at the agency. The Mahoning Valley (Mahoning and Trumbull counties) received $46.2 million in dividend checks, with $6.9 million going to counties, cities, local schools, and other public employers. 

Founded in 1950, General Extrusions manufactures aluminum parts for automotive, appliance and several other industries.

“This check was a nice surprise, and we look forward to using it to grow our business and keep our employees safe,” said Schuler, whose company employs more than 100.

This year’s dividend, equal to 88% of the premiums employers paid BWC in policy year 2017, marks the fifth time since 2013 BWC has returned $1 billion or more to its employer members. A breakdown of the dividend distribution by county is available online.

On average, the dividend equals 88% of the premiums employers paid in policy year 2017. In total, BWC has saved employers nearly $10 billion in workers’ compensation costs over the last decade through dividends, discount programs, reduced rates and other cost savings.

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