School districts, cities, and local governments across the state of Ohio are taking part in a new investment program.
The program is called STAR Plus and was launched in June.
The organizations taking part in STAR Plus have the potential to triple the yield on their taxpayer investments by getting weekly rather than daily access to their money.
Ohio Treasurer Josh Mandel said 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 said the trade-off has paid off.
Participating government entities have invested $160 million through the program so far.
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