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The City of Hudson ended 2020 in excellent financial condition. The General Fund closed out the year with $5.9 million more in revenues than originally anticipated. This was due in large part to significant growth in income tax revenue. Most income taxes are generated through employees working for businesses located in Hudson. Income taxes have grown an average of 10.8% per year for the last three years.
Through the end of June 2021, the City’s income taxes continue to grow with revenues up significantly over 2020. Several major employers plan to make Hudson their home later this year including Diebold, Cleveland Steel Container, Fleet HQ Partners, and The Farmer’s Rail. This will further increase the City’s income tax revenue and keep our strong financial position in place as the City boasts a AAA rating from both Moody's and Standard & Poor’s.
With such a positive financial position, City Council has been able to confidently move forward with accelerated capital improvement plans including road resurfacing, storm water improvements, and new sidewalks and trails.
In addition, the City-owned Ellsworth Meadows Golf Club is on pace for another record year in 2021. The course set a record for rounds played in 2020, and it is up 33% through June 2021 vs. June 2020. Ellsworth revenue is up $242,000 or 39% through June 2021.