Business briefs: Gorman-Rupp, Avita, BWC, new businesses, Ohio wine industry

Staff report
·4 min read

Gorman-Rupp Company declares cash dividend, announces board of directors change

The board of directors of the Gorman-Rupp Company has declared a quarterly cash dividend of $0.175 per share on its common stock, payable March 10 to shareholders of record as of Feb, 15, 2023. This will mark the 292nd consecutive quarterly dividend paid by the Gorman-Rupp Company.

Other action taken by the board of directors of the Gorman-Rupp Company was the announcement of the annual meeting of shareholders scheduled to be held April 27 and the related establishment of the close of business on Feb. 27 as the record date for shareholders entitled to notice of and to vote at the meeting. The meeting will be in a virtual format only via webcast at 10 a.m.

Rick R. Taylor has notified the company that he will not stand for re-election as a director at Gorman-Rupp's 2023 Annual Meeting of Shareholders, when his term will expire. Taylor, 75, has served as a director since 2003.

Avita announces new Board officers

The Avita Health System Board of Directors announced the recent election of the following new officers: Mark Schneider, board chair; Jeff Underwood, vice chair; Linda Smith, treasurer; and Sherri Clevenger, secretary. Board officers are elected to a two-year term.

Mark Schneider
Mark Schneider

Schneider has served on the Avita board of directors and previously the Galion Community Hospital board of directors since 2007. He is a retired funeral director, embalmer and owner of the Mark A. Schneider Funeral Home in Crestline and Galion, which became the Mark A. Schneider-Gompf Funeral Home in 2016.

Underwood is a partner in the law firm of Bayer, Jerger & Underwood Co., LPA in Mansfield. He has served on the Avita Board of Directors since 2014.

Smith is the executive director of administrative operations for Shelby Horizons Ltd. and the secretary/treasurer for Firenze Valley Farms Inc. in Mansfield. She has served on the Avita Board of Directors since 2014.

Clevenger is vice president at First Federal Bank of Ohio in Galion. She has served on the Avita Board of Directors since 2010.

For information on Avita Health System, visit avitahealth.org.

BWC board of directors considers an 8% rate reduction

COLUMBUS — Ohio’s private employers would pay nearly $90 million less in premiums next fiscal year due to an 8% rate reduction proposed to the Ohio Bureau of Workers' Compensation (BWC) board of directors. If approved in February, this reduction would take effect July 1.

If approved by the board at its Feb. 24 meeting, the rate reduction would be effective July 1, saving private employers $90 million over this year’s premiums. Overall, the average rate levels for the 257,000 private and public Ohio employers in the BWC system are at their lowest in over 60 years.

The proposed 8% rate cut represents the average statewide change to loss costs and the administrative cost fund but does not include any costs related to other funds BWC administers. The actual premium paid by individual private employers depends on several factors, including the expected future claims costs in their industry, their company’s recent claims history, and their participation in various BWC programs.

LaRose announces second-highest annual new business filing numbers

COLUMBUS — Ohio Secretary of State Frank LaRose announced 179,636 new business filings in 2022, down 18,374 filings from the all-time record-setting year in 2021, and the second highest in state history. December of 2022 saw 13,012 new business filings, 496 more filings than December 2021.

Ohio set records for new business creation in 2019, 2020 and 2021. In 2021, Ohio surpassed the annual filing record with 197,010 new business filings.

Ohio entrepreneurs can visit OhioSoS.gov/BusinessResources to discover the helpful opportunities available to them that can help them start and grow their business.

Ohio wine and grape industries bring in $6.6 billion in economic activity

Catawba grapes, a variety native to Ohio, grow on the vine at Three Oaks Vineyard in Granville.
Catawba grapes, a variety native to Ohio, grow on the vine at Three Oaks Vineyard in Granville.

REYNOLDSBURG — A new study highlights the importance of Ohio’s wine and grape industries. The economic impact study, using figures from 2022 and conducted by John Dunham & Associates and funded by the Ohio Grape Industries Committee (OGIC), found that the wine and grape industries in Ohio:

• Brought in $6.6 billion in economic activity;• Created 40,399 jobs;• Generated $1.9 billion in wages;• Accounted for 2,327,150 winery visits;• Produced upwards of 1.2 million gallons of wine in a 12-month period; • Ranked seventh in the country when it comes to wine economic output.

Ohio is home to 323 wineries. The state also has 21 grape juice, jam and jelly producers.

This article originally appeared on Mansfield News Journal: Gorman-Rupp and Avita announce board changes