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GCP/COSE urge long-term reforms to make unemployment compensation fund solvent

Greater Cleveland Partnership Board member Mike Stanek (photo right), who also chairs the COSE Board, provided testimony last week in Columbus before the Unemployment Compensation Reform Joint Committee regarding challenges related to unemployment on behalf of impacted GCP/COSE member businesses.

Testimony by Stanek, who is also chief financial officer of Hunt Imaging and owner, Cleveland Cycle Tours, included comments about the need for change.

"Improvements to the system should ensure the unemployed receive the support needed to re-enter the workforce and also ensure that an unexpected burden on businesses does not happen again due to a future downturn in the economy or recession. Our members continue to advocate for long- term reforms that allow the unemployment fund to achieve solvency…

“I’ve personally heard from many businesses that had been severely impacted by the downturn in the economy several years ago. The damage continues to linger and negatively affect business growth and the prospects for an individual to contribute and enjoy success today.”

Click to read his full testimony.