News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

The Holden Arboretum

Area Agency on Aging 10B, Inc.

Hospice of the Western Reserve


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Ohio's tax incentives for Chinese company Fuyao total nearly $10 million
The tax incentive is supposed to reward the company for creating jobs
Story by LEWIS WALLACE


 
Fuyao Chairman Cao Dewang speaks after the company purchased the Moraine plant.
Courtesy of Lewis Wallace
Download (WKSU Only)
In The Region:

The state of Ohio has approved part of an incentive package for Fuyao, the Chinese auto-glass company coming to the former GM Moraine plant south of Dayton. The job creation tax credit is meant to retain jobs in Ohio, but the incentives does not always work out that way.

LISTEN: WALLACE ON INCENTIVES

Other options:
Windows Media / MP3 Download (1:04)


The idea behind the Job Creation tax credit is to give companies a break on taxes, if they create new jobs.

Fuyao’s planning to bring in more than 800 jobs, which would mean more than $32 million in annual payroll.

If the company succeeds, the state will give Fuyao a tax discount totaling almost $10 million over 15 years.

Economic development officials say incentives like this are a way to compete with other states. Kristi Tanner is with JobsOhio.

"JobsOhio started working with Fuyao not quite a year ago, and they could have selected any state," Tanner says. "They could have selected any site."

A New York Times analysis found Ohio spent about a tenth of the state budget from 2006 to 2011 on tax credits, grants and other incentives for businesses.

But that has not always worked to retain jobs: GM, which pulled out of Moraine in 2008, had been one of the largest recipients of government tax credits in the state.

The Fuyao tax credit requires the company to stick around for at least 18 years.

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook



Stories with Recent Comments

The tiny town that time, and elections, forgot may go out of existance
Thank you for this story. I grew up in Limaville, my parents home is there still...unsellable due to the septic/sewer problem. Sometimes I am sorry I left...wis...

Where Ohio'sJohn Kasich stands in the presidential polls
We are fans of Gov. Kasich since he served in the House of Representatives. It pleases us to finally see him as the potential President of the United States. We...

Air Force unit gets training and Youngstown gets rid of some eyesores
Do they have to totally destroy all the beautiful oak and leaded windows, which I am thinking are probably there? Do they just have to destroy them like that? C...

Jewish challah and Native American fry bread at an Akron cultural exchange
Each time I saw the young students relate to each other, I got goose bumps. These young students can and hopefully will teach all of us to live and respect eac...

One of the Cleveland Orchestra's most celebrated musicians bids farewell
I had the honor of studying with Franklin Cohen in the late 80s and early 90s. He is unparalleled both as a clarinetist and as a musician. His deep personal war...

Summa's dress code is not 'etched in stone'
SOME OF THESE POLICIES ARE A COMPLETE JOKE. UNLESS YOU ARE DOING THESE TYPE OF JOBS EVERY DAY, YOU DON'T KNOW WHAT IS COMFORTABLE AND REASONABLE OR NOT. UNLESS ...

In a crowded, controversial field, Kasich's low-profile may be a boon
I think it should be required that if a candidate wants to use the facilities of one of our state universities to promote him- or herself, they should be requir...

How's Kasich selling in New Hampshire, and what about Iowa?
"If he heads there, says Gomez, he’ll either have to shy away from those issues, flip flop or “stick his finger in their face and say, ‘Yeah, yeah, I expa...

Ohio School Boards Association says new law could mean state takeovers of schools virtually anywhere
It would be nice if the state were this concerned about the dozens of failing charter schools.

Republican National Convention plans outreach to African American voters in Ohio
Too late! Seriously - I think the Republicans already blew another outreach campaign to blacks when they allowed many prominent members of their party to spea...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University