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.

NOCHE

Metro RTA

Lehmans


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

Pluto: The Browns split from Manziel is long overdue
Get Brock Osweiler from the Denver Broncos! He's fantastic and seems like a great person.

Democratic Senate hopeful P.G. Sittenfeld pushes for local gun control
That makes no sense at all... why not let cities determine driving codes as well? Maybe Cincy want's folks to drive on the left side of the road. What could go ...

Exploradio: Autism in the workplace
I would love to get more information re: Autism on The Town and other such programs in Northeast Ohio. Thanks!!

Human trafficking cases rise in Ohio
It is about time this is presented to proceed with a plan of prevention..to protect our youth.And very necessary to inform communities through school, churches ...

Fermented food company aims to preserve Cleveland's farm-to-table movement
This is terrific! I make my own sauerkraut and consider it vital to good health. Well done, I wish you all success.

Ohio doctors get new guidelines for prescribing certain painkillers
I would gladly smoke pot to get off pain killers but its not legal.It would save the hassle of doctor visits for pill counts,pee tests,blood tests,driving to pi...

Ohio unemployment cuts are nearing a Statehouse vote
What about those that are laid off seasonally? My husband has been employed by the same company for 26 years and has been laid off (for the last 17) mid-Januar...

Ban on microbeads is a big step in fighting plastic pollution
What a bunch of liberal "so open minded their brains fell out" tree huggin yuppies. Professing to be wise they became fools.

Who's on -- and left off -- Ohio's medical marijuana task force?
Biggest joke everm these people are evil they know marijuana is harmless they rigged the polls last nov everypne kmows it

Dayton 'Black Lives Matter' protesters to appear in court today
Police to fast with the trigger finger and not the brain.A lot of police officers out here judge by color first instead of accessing the situation first. If a p...

Copyright © 2016 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