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Ohio


Noon news headlines for December 21, 2012
Ohio unemployment down; Cuyahoga County properties get historical tax credits


 
  • Ohio unemployment down
  • Cuyahoga County properties get historical tax credits
  • Cuyahoga County gets historical tax credits
    Eight Cuyahoga County projects are getting some help from Ohio's Historic Preservation Tax Credits program. The former East Ohio Gas headquarters on E. 9th Street is the biggest winner, with a $5 million credit toward a planned $66 million conversion to apartments. Joseph Marinucci, CEO of the Downtown Cleveland Alliance, said the East Ohio project is vital to rejuvenation of the city's former financial district. He cites growing demand for downtown apartments, coupled with an adequate amount of available office space.
    The building dates from 1959 and the renovation is slated for completion in about a year.Other buildings receiving historic tax credits include the old Jay Hotel, built in 1924 as the Ohio City Post Office, and the Globe Machine and Stamping Co. building on W. 76th St., which was built in 1918 across from Battery Park. Throughout Ohio, 23 projects were granted credits today, and the state says that will leverage more than $252 million in private investment.

    Ohio unemployment down 
    Ohio's unemployment rate is continuing to inch downward. The Ohio Department of Jobs and Family Services said Friday that the state's seasonally adjusted unemployment rate for November was 6.8 percent. That's down from 6.9 percent in October and 7.1 percent in September. It's the lowest since an identical 6.8-percent rate in August 2008. The state has said Ohio's economy and its job market are getting stronger, though the process is slow. Ohio's unemployment rate has remained about a full percentage point below the U.S. rate.
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