Our $1.5 billion employer dividend a confluence of safety, savings and investment

By Stephanie McCloud, BWC Administrator/CEO

Local elected and business leaders join employees at American Producers Supply Inc. in Marietta Wednesday morning for a check presentation from Ohio Bureau of Workers’ Compensation Administrator/CEO Stephanie McCloud (holding check). The check represents the company’s share of BWC’s dividend of up to $1.5 billion for Ohio employers this fall.

You know it is a good day when everyone is smiling as you arrive at their door.

That’s the reception I received this morning from the good people of American Producers Supply Co. in Marietta, Ohio, where I gathered with local business and elected leaders to kick off our 2019 dividend check distribution.

I presented company leaders with a giant ceremonial check for $48,248.64 and told the audience a total of $14.1 million in checks were headed to the Marietta region over the next month. (The region includes Washington, Monroe, Noble, Morgan and Athens counties.)

All told, we’ll be sending roughly 177,000 checks to Ohio’s private and public employers covered by the State Insurance Fund starting Sept. 26.

The checks, which could reach up to $1.5 billion in all, represent 88% of the premiums employers paid in policy year 2017.

Our Board of Directors approved this dividend in June. This was the agency’s fifth billion-dollar dividend since 2013, and it marked the continuation of a remarkable run of strong investment returns and falling injury claims. BWC’s cost-saving initiatives also contributed to the dividend.

Those falling claims are in part due to our economy becoming more service-oriented. But they also show Ohio’s public and private employers are placing more importance on safety in the workplace. That is an approach we will always applaud.

The governor and I know Ohio’s economy prospers when more money is available for capital improvements, hiring, safety and innovation.

“We are committed to providing resources for Ohio businesses to expand, support their employees, and become stronger competitors in the global marketplace,” Governor DeWine said just before my Marietta trip. “Because of BWC’s leadership and strong investments, Ohio employers will now have the opportunity to make additional investments in their businesses.”

Joe Wesel, American Producers Supply’s executive vice president and general manager, is taking that to heart. His dividend check is going right back into the business.

American Producers Supply general manager Joe Wesel tells the crowd he will invest the dividend check in company safety programs.

“We plan to use these funds to enhance our safety program and support the health and wellness program we recently created for our employees,” Mr. Wesel said this morning.

“We employ more than 200 workers in 13 locations around Ohio and the Midwest, and safety is one of our core values. We absolutely believe workplace accidents are preventable with the right approach, and BWC has been instrumental in helping us make that part of our culture here.”

We look forward to sharing this good news with other employers across our state in the coming weeks.

We know these dividends aren’t a guarantee every year, but I sure enjoy the experience and all those smiles! It’s my honor and privilege to be a part of it. I want to thank everyone involved — Ohio’s employers, workers and BWC staff — for making it happen. Thank you.

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