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Thursday, October 04, 2001

Tax break for business pondered




Gannett Columbus Bureau

        COLUMBUS — Ohio lawmakers want to help more businesses get started, but some are not sure the state can afford it.

        An economic development bill offers a variety of tax incentives designed to help new Ohio businesses and help major employers retain jobs.

        While no one is questioning the motives of the bill — it passed the House 98-0 Wednesday — some wonder if the state budget can take another hit.

        Much of that concern is coming from the Senate, which should soon begin hearings on the measure.

        “There are a lot of good things in the legislation, but we have to be cognizant that we can't sign onto anything that is going to be cost-prohibitive,” said Sen. Jay Hottinger, R-Newark, a member of the Senate Finance Committee.

        Ohio, under the bill, would lose an estimated $20 million in revenue next fiscal year, and up to $24 million in each of the following years. Plus, implementing the new tax credits would cost an estimated $16 million per year.

        This comes at a time when lawmakers are scrambling to deal with a $1 billion revenue shortfall and a Supreme Court order requiring another $2.4 billion in education spending.

       



Comforting the nation
Mrs. Bush holds Tristate meeting with educators
Luken accused of police politics
Morgue arguments center on permission
86 listed as child support offenders
Adamowski highlights progress in Cincinnati
Justice complaints in 2 cities compared
Ohio guardsmen 'itching to go'
Opinions on police gathered
Travelers waited at bus depot, said service halt necessary
Tristate A.M. Report
HOWARD: Some Good News
PULFER: Doug Cherry
Call-ups crimp schools, businesses
Following in his paw prints
Three-day festival adopts Greek theme
Foreign-born in Cincinnati up 30% in 7 years
State might pay extra tab
- Tax break for business pondered
Ceremony to mark bridge closing
Digital licenses being phased in
First businesses open at Levee
GOP uses ex-Democrat to entice converts
Kentucky News Briefs
Sex firms on agenda
Sparta appeals on annexation

 

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