News

What's Your Question? 

   

   



Answer

GrowNOW is a program provided by the State Treasurer's office for small business owners. Small businesses that can commit to creating or retaining jobs in Ohio can receive a two-year, 3% interest rate reduction on new or existing loans.

Thank you for your question.

X

I believe government should serve the people. Feel free to contact my office if you have any questions we can assist in answering.

RECENT QUESTION

What does the State Treasurer offer to help small businesses in Ohio?
See Answer »

State Treasury Feed

Show:
Treasurer Josh Mandel Announces Launch of the Greater Cincinnati Redevelopment Authority Checkbook on OhioCheckbook.com
content containter top

8/31/2012

In Case You Missed It... STAR Plus Shows Strong Growth


MEDIA COVERAGE

Ohio Cities, schools try new investment program

Associated Press- August 20, 2012

 

COLUMBUS, Ohio (AP) - More than 60 Ohio school districts, cities and local governments are taking part in a new state program that can triple the yield on their taxpayer investments.

STAR Plus is a program that was launched in June. It adds the flexibility of some private-sector investment programs while securing public cash deposits through carefully screened federally insured banks.

 

Ohio Treasurer Josh Mandel says the program drives more public deposits to community banks. They hold a quarter of deposits nationally but issue half of all small-business loans.

City of Powell Finance Director Debra Miller says the city gets weekly rather than daily access to its money in order to collect higher returns. She says the trade-off has paid off.

Participating government entities have invested $160 million through the program so far.

 

http://www.businessweek.com/ap/2012-08-20/ohio-cities-schools-try-new-investment-program

 

Ohio State Treasurer Josh Mandel visits Auburn Township to talk about Star Plus program

The Lake County Sentinel- August 28, 2012

 

(AUBURN TOWNSHIP, OH) - State Treasurer Josh Mandel met with Auburn Township officials today to discuss the new and innovative STAR Plus investment program.  STAR Plus offers local government subdivisions the security of 100% federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Treasurer Mandel's office. 

 

Treasurer Mandel discusses the new STAR Plus Program with Auburn Township Fiscal Officer Susan Plavcan and other Auburn Township Officials.

"As the fiscal officer of a local government entity, we are always trying to find new ways to make more with less," said Auburn Township Fiscal Officer Susan Plavcan.  "In today's economy we have to ensure that we are working to protect our citizens' hard earned money, while still maximizing return on our investments.  The STAR Plus program helps local governments do just that."

 

"Local governments have been looking for new and innovative ways to spread their money further," said Treasurer Mandel.  "STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  Being able to offer this new and innovative investment program to local governments throughout Northeast Ohio is something I am very excited about."

 

"Local governments like Auburn Township can use STAR Plus to get a greater rate of return on investments for their taxpayers," said State Representative Matt Lynch (R-Bainbridge Township).  "This program is a welcomed addition that leaves our communities in a solid financial position."  

 

STAR Plus is endorsed by the Ohio Treasurer's office and provides safe and competitive returns on cash deposits for Ohio local governments.  The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account.  Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.  For more information on STAR Plus, please visit: www.STAROhioPlus.com or www.OhioTreasurer.gov.

 

http://www.lakecounty-sentinel.com/index.php?p=55_39_LakeCounty-Sentinel.com-Ohio-State-Treasurer-Josh-Mandel-visits-Auburn-Township-to-talk-about-Star-Plus-program-08-28-2012

 

 

State Treasurer Comes to Geauga

Geauga County Maple Leaf- Thursday, August 30, 2012

 

State Treasurer Josh Mandel met with Auburn Township officials today to discuss the new and innovative STAR Plus investment program.

 

STAR Plus offers local government subdivisions the security of 100 percent federally insured deposits and a very competitive yield for local taxpayers, and is endorsed by Mandel's office.

 

"As the fiscal officer of a local government entity, we are always trying to find new ways to make more with less," said Auburn Township Fiscal Officer Susan Plavcan. "In today's economy, we have to ensure that we are working to protect our citizens' hard earned money while still maximizing return on our investments. The STAR Plus program helps local governments do just that."

 

Mandel said local governments have been looking for new and innovative ways to spread their money further.

 

"STAR Plus is a win-win-win that provides full security on deposits, triples the yield over other similar investment options and strives to keep public funds in Ohio community banks that fuel our local economies," Mandel said. "Being able to offer this new and innovative investment program to local govern-ments throughout Northeast Ohio is something I am very excited about."

 

State Rep. Matt Lynch, R-Bainbridge Township, said local governments like Auburn Township can use STAR Plus to get a greater rate of return on invest-ments for their taxpayers.

 

"This program is a welcomed addition that leaves our communities in a solid financial position," Lynch said.

 

The STAR Plus program is modeled after established private-sector pro-grams, Mandel said.

 

It will allow government fund man-agers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation insured banks via a single convenient account, he said.

 

Public funds deposited in the program will be fully secured and will have no credit or market risk while earning a competitive yield, currently 25 basis points.

 

http://www.geaugamapleleaf.com/NewsBriefs/

 

RECENT RELEASES

Treasurer Mandel Presents Innovative STAR Plus Program to Public Investment Officers at Akron Conference

August 15, 2012

 

AKRON - State Treasurer Josh Mandel presented the innovative new STAR Plus investment program today to public funds managers for schools, cities and local governments at a Center for Public Investment Management (CPIM) conference in Akron.  This first-in-the-nation program will provide safe and competitive returns on cash deposits for Ohio local governments, which will currently triple the yield over similar investment options in the existing interest rate environment.  


"STAR Plus is a win-win-win that provides full security on deposits, competitive yield over other similar investment options, and strives to keep public funds in Ohio community banks that fuel our local economies.  It is also offers an important financial tool to local governments across Ohio who are tightening their belts and stretching tax dollars," said Treasurer Mandel.  "Ohio is the first state in the nation to offer this program to local governments that will currently allow them to triple their yield on public fund bank deposits with no credit or market risk.  In just two months since launch, more than 60 Ohio governments have opened accounts with STAR Plus and deposited more than $160 million, which is a very positive sign of strong support."

READ THE FULL RELEASE 

STAR Plus Program Shows Strong Growth Surpassing $280 Million in Local Government Deposits

August 28, 2012

 

COLUMBUS - State Treasurer Josh Mandel announced today that the STAR Plus local government deposit program for cash reserves has surpassed $280 million in local government deposits just two months after receiving its first deposit. STAR Plus is a safe and secure investment option for government subdivisions such as schools, cities, counties, townships, libraries, and other public entities which provides weekly liquidity and very competitive yields.

 

"STAR Plus continues to grow in deposits because it provides local governments with the safety, liquidity and yield that they require, while generating greater return than many other available investment alternatives.  In an era of belt-tightening across Ohio, we are very pleased to be able to offer local governments tools to stretch their resources because we know that in this economy every dollar counts," said Treasurer Mandel. "STAR Plus participants have told me that the program is allowing schools to invest in technology and put money into classrooms.  It can also allow cities to provide valuable services, and helps government entities diversify their investment portfolios. STAR Plus is a win-win-win for taxpayers, local governments, and community banks across our state that fuel small business growth."

 

READ THE FULL RELEASE

###

content container bottom