New Tax Incentives Keep American Greetings In Northeast Ohio

[The Straight Story]

New Tax Incentives Keep American Greetings In Northeast Ohio

Governor John R. Kasich has signed legislation creating powerful tax incentives that will help retain jobs and revive Ohio’s economy.

Kasich signed the bill at the headquarters of American Greetings (NYSE:AM), whose CEO Zev Weiss announced at the bill-signing ceremony that the company and its 2,000 jobs will stay in Northeast Ohio.

“This is about your families,” said Kasich before a crowd of American Greetings employees. “This is a fantastic company and it’s so great it’s in Ohio. One thing that I think we all have to realize as we sit here and thank the good Lord that we get to stay and keep our jobs: costs matter and when the government imposes costs on businesses it has a profound consequence. I have been saying from the very beginning, when I ran for office, that if you do not keep the costs down and allow businesses to make a profit, they will go somewhere where they can make a profit…we’re not going to have to locate anything in Palo Alto now, it’s going to be located right here in Northeast Ohio.”

...

Key provisions of HB 58 include:

A tax credit for businesses that received an offer of financial incentives from another state in 2010;
A requirement that businesses seeking this credit must agree to invest at least $25 million and retain at least 1,000 employees in Ohio.

http://www.thegovmonitor.com/world_news/united_states/new-tax-incentives-keep-american-greetings-in-northeast-ohio-47373.html

[rfranklin]

1. an impartial analysis usually reveals that these incentives...

give away a lot more than the revenue and jobs that they provide.

[Bandit]

2. Sounds and looks like collusion between that CEO and Kasich to me..

Bilk the tax payer some more while cutting the Civil worker to the bone..