Economy

Business news

The State of Ohio / Ohio Public Television

Some state lawmakers have been questioning how much revenue is lost as a result of a recent tax break for small businesses. One Democratic representative says an analysis of that tax cut shows it's only helping a select few Ohioans. 

Representative David Leland says he asked the Legislative Service Commission to determine who is taking advantage of Ohio’s personal income tax exemption for small businesses. Leland says he was shocked to find the tax savings were primarily going to the top one half of one percent of high wage taxpayers.

photo of money
JO INGLES / STATEHOUSE NEWS BUREAU

New numbers from the state budget office show Senate Republicans were correct in saying they needed to close a billion dollar hole in the upcoming budget. The trend of the state having less money to spend is expected to continue.

ROLF PENDALL
FEDERAL RESERVE BANK OF CLEVELAND

The industrial heartland continues to struggle with the legacy of lost jobs and population. But whether it continues to be known as a rustbelt or for its renewal depends on whether Ohio invests in immigrants and young people. WKSU’s M.L. Schultze has more from the national Federal Reserve summit that got underway in Cleveland today.

Aultman Heath Foundation

More healthcare industry consolidation is in the offing for northeast Ohio. Wednesday Canton-based Aultman Health Foundation signed a letter of intent to buy Alliance Community Hospital.

The two Stark county institutions operated separately for 116 years. But, Case-Western Reserve University professor J.B. Silvers says the current economic and political environment in healthcare is drawing them together.

STATEHOUSE NEWS BUREAU

A new analysis from the Associated Press shows Medicaid expansion accounted for 43 percent of total Ohio Medicaid spending on substance abuse and mental health treatment. Advocates for the poor worry a proposed amendment in the state Senate budget that would end Medicaid expansion enrollment would be a disaster for Ohio’s opioid crisis. 

photo of Gov. John Kasich
JO INGLES / STATEHOUSE NEWS BUREAU

An income tax break for Ohio’s small businesses in recent years is under fire from Democrats and some Republicans. They say the current budget situation shows it’s time to end that tax cut. Gov. John Kasich is firmly rejecting those suggestions.

Allegiant Airlines Flight
Allegiant Airlnes

President Donald Trump wants to privatize air traffic control.  He says the current system run by the Federal Aviation Administration is out of date and the private sector can get things squared away faster and cheaper.  But a leading economist says, “Perhaps not 

Dan Konik

The Senate is planning to vote on its version of the budget in the next week, and the possibility of last minute changes means there are a lot of moving parts where no provision is safe. The top Senate leader has at least one measure he knows he wants to pass one way or another.

Farmers have seen the taxes on their land go up as much as 300 percent. That’s because of a variable in the Current Ag Use Valuation, or CAUV, formula.

photo of Hattie Larlham League
HATTIE LARLHAM

A local non-profit that helps care for about 18-hundred people in Ohio with developmental disabilities says it can no longer operate on its own.

Twinsburg-based Hattie Larlham Foundation plans to look for a partner with which to merge.

As part of a cost-cutting campaign, the foundation is closing its farm-to-table work program -- as well as Hattie’s Café -- in Akron, which Chief Development Officer Catherine Schwartz says will affect about two percent of the people in their program.

Ron Grayson Burns
YOUTUBE

Ohio farmers have been pushing lawmakers to change the formula that determines how much in taxes they pay on their land. But the change could hurt another industry. h

Ron Grayson Burns looks over his vast wheat field in Union County.

“This field here this is just under 10 acres in this section. So it goes all the way back to the tree line that’s behind the grain bin."

photo of money
JO INGLES / STATEHOUSE NEWS BUREAU

State senators are preparing to put out their version of Ohio's budget, in which they need to trim hundreds of millions of dollars to make sure it’s balanced. The state budget office is reporting another big loss in tax collections for the current fiscal year.

Canton near the interchange of Market  and Tuscarawas
Tim Rudell / WKSU

One part of downtown Canton is now going to hold two economic development district designations.  The first involves a bit of history, while the other is all high tech.

A state law passed in August lets cities create Downtown Redevelopment Districts where they can offer tax incentives for developing new or rehabbing existing properties.

To qualify, an area needs to have at least one historic building in need of renovation. Canton has more than one.  And it has something much newer that is making another kind of district designation possible.

photo of Ohio Department of Jobs and Family Services
KAREN KASLER / STATEHOUSE NEWS BUREAU

The jobless rate fell last month, but the state also lost jobs.

Agriculture Convention in Dayton
Tim Rudell / WKSU

Ohio’s first industry, farming, is still its biggest industry.  But with technology-driven life styles, urbanization and a global economy, will that continue for the next generation that is now looking to make its way in the world? 

Christopher Alan
Tim Rudell / WKSU

A California company has dropped its plan to buy the old Packard Electric plant in Warren.  However Autoparkit, which builds robotic parking garage systems, is still planning to set up operations in the city. 

West  Coost entrepreneur Christopher Alan grew up in Warren. When he decided the old Packard plant back home would be a good place to make his automation he tried to buy it. Last month the deal fell through.

Propublica
PROPUBLICA

Stories in this week’s New Yorker from ProPublica, the non-profit investigative journalism group, raise questions about whether a northeast Ohio  poultry company  has racked up one of the worst safety records in the industry, in part by recruiting undocumented immigrants.  I spoke with the writer, Michael Grabell, about Case Farms.

photo of Akron North Hill neighborhood
M.L. SCHULTZE / WKSU

Huntington Bank is the latest company to contribute to a $4.5 million loan fund for projects in distressed Akron neighborhoods.

The bank has given a quarter-million dollars to the Akron Community Revitalization Loan Fund. The group says it will concentrate on loaning money for projects from $500,000 all the way up to $2 million in places like North Hill and East Akron, with interest rates hovering below 2.75 percent.

photo of pledge card
THE CENTERS FOR FAMILIES AND CHILDREN

A new hiring program in the Detroit Shoreway neighborhood is aiming to encourage local businesses to hire local residents.

HOF Ground Breaking
Tim Rudell / WKSU

Construction continues around the clock in Canton to turn the Pro Football Hall of Fame into what is being dubbed the Disneyland of Football. Tuesday two project milestones, a completion and a kick off, were celebrated at once.

The wind made it a little bit hard to hear, but the choice of the hill above the Hall of Fame for the dual ceremony had to do with seeing: the last beam dropped into place for the new Tom Benson Stadium; and the first shovel turned for the four-star hotel to be on this high ground of the Hall of Fame Village.

photo of Ryan Smith
STATEHOUSE NEWS BUREAU

House Republicans have offered their own budget plan after seeing tax revenues come up short month after month. The changes include taking out nearly all of Gov. John Kasich’s tax reform proposals.

In his last two budgets Gov. John Kasich has proposed a plan that makes reductions to the income tax, saying he wants to shift the state away from relying on income taxes.

Picture of a dredging operation in Cleveland's shipping channel
PORT OF CLEVELAND

The Cuyahoga River is being dredged by the Army Corps of Engineers once again, and as WKSU’s Kabir Bhatia reports, the Port of Cleveland says communication will be key to keeping the shipping channel clear in the future.

WKSU

Downtown Cleveland has about 300 restaurants and cafes to serve the area’s growing population and tourism trade. Downtown officials are not concerned that more eateries will over-saturate that market.

photo of the Columbus YMCA
ANDY CHOW / STATEHOUSE NEWS BUREAU

A collection of community service groups is hoping they can get a tax break from the state with the help of a new bill. The measure would boost gyms like the YMCA.

The whirring of treadmills and the sounds of swimming might first come to mind when you think of gyms like those at the YMCA and Jewish Community Centers.

But Beth Tsvetkoff with the Ohio Alliance of YMCA says they do so much more, such as early childhood education and diabetes prevention.

photo of Tim Keen
OHIO OFFICE OF BUDGET AND MANAGEMENT

For the fourth time in five months, the state has fallen short of predicted revenue. 

March’s personal income tax collections were down $203 million from what was expected. And overall income tax revenue for the year is off by more than half a billion dollars –  $615 million.

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