Tuesday, September 30, 2014

A Friendly Warning

to ABX/ATSG @ Wilmington Air Park
To obtain state assisted financing for the $14.5 million JUMP hangar construction the Clinton County Port Authority along with the new hangar's operator ATSG/ABX promised to create 259 new, good paying jobs. Normally companies are not required to release employment numbers to the public, however. in the case of the JUMP hangar, the local taxpayers have an interest in the outcome. $500,000 of our own money was invested in the venture and a 23 year property tax abatement incentive was granted to the company. Additionally our Port Authority is contributing $270,000 a year in a rental reduction agreement. Are we not due an update? The facility was opened for use earlier this year.
Paul Hunter

Ohio cracking down on tax breaks when companies fall short

The state is getting tougher with companies that don’t follow through on plans to add jobs and make investments in return for tax incentives. The Ohio Tax Credit Authority revised or canceled incentive contracts with 105 companies yesterday, an unusually large number to be done on one day.

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