Pittsburgh, PA (October 5, 2004) — Today’s $42.5 Million CD auction marks the 5 year anniversary of the www.BidOhio.comwebsite. The site has auctioned off over $2.5 Billion in 6-month CDs for the Ohio Treasury and was the first of its kind when introduced in October of 1999. It has received recognition from, the Government Finance Officers Association (GFOA)- Louisville Award for Financial Innovation, the Association for Financial Professionals and MuniNet Magazine, and has won the Innovation in American Government Award given by Harvard’s John F. Kennedy School of Government. Since the introduction of BidOhio, the Ohio State Treasury estimates that it has earned an additional $5.8 Million in interest earnings compared with average CD rates.
Grant Street Group has also created CD auction websites for: South Carolina, Allegheny County, Texas, Idaho, Pennsylvania, Louisiana, Iowa & most recently in June of 2004 – Massachusetts.