Sprague said his office is working on ways it can support businesses and families and is traveling the state to gather ideas what government should do — and not do — to help industries impacted by inflation.
Montgomery County Treasurer John McManus hosted Sprague and invited local business leaders to the discussion Tuesday. Represented were realtors and home builders, manufacturers and other small businesses. McManus said inflation is a national issue also strongly impacting the Miami Valley.
“We have some very hard-working people in our community who know how to get through a challenge, and we are getting through this as a community,” McManus said.
The cost of building a home has gone up even as lumber prices are beginning to steady, said Eric Farrell, executive director of the Dayton Home Builder’s Association.
He said people who own homes are holding onto them longer, wary about trying to build. He said it was important for local leadership to have an strategy that attracts jobs and ensures people who fill those jobs have homes available.
“As mortgage rates increase, homes being sold is beginning to decline,” Sprague said. “And the home builders are having a (tough) time with increased costs building homes that people can afford.”
He said his office deals with finances daily and will continue to look into the issues to help make homes more affordable across the state.
There is a lot of hope for manufacturing in Ohio, he said, as the industry is growing again here. He’s heard many are receiving large orders, but manufactures are also having trouble as prices continue to climb and logistics issues persist.
“I think if we are going to win in the future and look towards the future, we have to address those kind of issues whether it’s in the community or state-wide,” Sprague said.
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