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Ohio's Economic Picture Offers Political Dilemma

Stocks in this article: HBAN

ANN SANNER

COLUMBUS, Ohio (AP) â¿¿ Gov. John Kasich warned Wednesday of an economic slowdown happening in the swing state ahead the presidential election, even as Huntington bank announced it is bringing 250 jobs to Ohio.

The Republican governor praised the additional jobs at a news conference with legislative leaders and Huntington CEO Stephen Steinour.

But the announcement highlighted the political dilemma that Kasich faces of promoting the state's recovery as a model while saying President Barack Obama's policies are holding Ohio back.

"There's so many people just on the sidelines, holding off," Kasich later told reporters, noting what he said was uncertainty from Washington and the outcome of the presidential election.

"We know things are slowing down a little bit," he said.

Regional bank Huntington Bancshares Inc. said Wednesday it plans to add 250 jobs to its Ohio operations over the next four years to help build its credit card business. The positions would be in customer service and marketing, among other areas.

Steinour said a bipartisan bill passed by the state Legislature helped clear the way for the bank to create the jobs.

Huntington is developing its own line of business and consumer credit cards. Because some states allow financial institutions to charge higher interest rates and other fees than Ohio, the bill allows Ohio-chartered financial institutions to charge rates and fees above the state's current maximums under law.

Columbus-based Huntington operates almost 700 bank branch offices in Ohio, Indiana, Kentucky, Michigan, Pennsylvania and West Virginia.

Kasich told reporters that most businesses would rather do nothing than risk new investments while it's unclear what will happen with health care, taxes and the nation's debt. "I'm not trying to be partisan here," he added.

Ohio's unemployment rate ticked down to 7 percent last month â¿¿ its lowest in four years â¿¿ after three consecutive months of holding steady at 7.2 percent. It remains below the national rate of 7.8 percent.

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