Economy Demolishes Twinsburg's Investment Income
Low interest rates mean that Twinsburg's revenue from investments has dropped nearly to zero.
The faltering economy in the last five years has put the squeeze on cities in many ways.
One way economic sluggishness has hurt Twinsburg and many other cities is that, because interest rates are so low, any income from investments has fallen to practically zero.
IN 2007, Twinsburg collected about $1.16 million revenue from investment interest, according to data supplied by Finance Director Karen Howse. That revenue source has been dwindling quickly each year, and bottomed out in 2012 at $31,816.
Mayor Katherine Procop said the drop is even worse considering Twinsburg is now investing much more money than they did in 2007.
The chart below illustrates the drop: