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.

Meaden & Moore

Hospice of the Western Reserve

Wayside Furniture


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

Cuyahoga Valley National Park OK's sharpshooters to thin deer herds
In this article you mention that the Mule Deer Foundation is a "hunting group" in reality the Mule Deer Foundation is a conservation group that is over 25 years...

In the driver's seat of history
I believe he was a teacher of mine as James Ford Rhodes. My favorite teacher of all time! Loved learning this part of his amazing history.

Cleveland RTA is moving Public Square bus stops beginning this week
I am very confused. Why are you taking one or more of the park and ride 246 out of service in the morning. I looking over the new schedule I see that there ar...

Canton school board will vote Wednesday on its high school merger
Great to see that THE REPOSITORY is advising a 'no' vote for now! Another point, besides all the Very accurate points already made against this move is the fac...

Some parents opting their students out of Common Core test
I am an 8th grader at a school in Allen County. I have just recently taken the ELA performance based assessment and found it extremely difficult. It asked me a ...

Fallout from the Ohio Supreme Court Munroe Falls ruling
The comment by Nathan Johnson from OEC is confusing. Instead of cities being 'emboldened' to craft zoning laws that were just stricken down by this ruling, comm...

Stopping sediment dumping in Lake Erie
Ah, yes, the Army Coro of Engineers, the geniuses that designed the levee system in New Orleans that has made the flooding worse due to no sediment reaching the...

Ohio charter school critic says reform bills are a good step
The cold truth is that these charter schools are offering services beyond the what the state tests can guage. Parents and students have a choice and they are ch...

State law trumps restrictions on oil and gas drilling in Munroe Falls
Justice O'Neill's quote brings up a point I wish WKSU would address: since, unlike for Federal judges, our judges here in Ohio are elected, and therefore respo...

Ohio Supreme Court invalidates local fracking bans
If Ohio has their way, Fracking Wells will be planted in the courtyard of every town. That is if the State of Ohio can profit by it...for more on how the court ...

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