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MAY 2006
![]() ![]() Is Tax Reform Enough Competitive Advantage? (cover) Half Full or Half Empty? Room for Improvement Tax Reform's Effect Ohio in the Running for Clean-Energy Plant Bioscience Companies Gladly Take the Bait Request Information ![]() |
OHIO SPOTLIGHT
s states shift resources to cultivating emerging industry clusters such as life-science sectors, some realize that keeping existing industries prosperous is just as important. Ohio Gov. Bob Taft announced in November 2005 the Ohio Automotive Revitalization Initiative to restore his state's automotive industry and protect the 150,000 workers who make up that industry. "Recent troubles at Delphi Corporation, and other automotive manufacturers and part suppliers in Ohio represent a grave threat to Ohio's economic vitality, and that's why our action plan is aimed squarely at revitalizing Ohio's automotive industry," explained the governor at the plan's launch – on the same day General Motors announced it would eliminate a shift at its Moraine, Ohio, facility in 2006. On the other hand, Ernst Umformtechnik announced the previous month that it would invest US$3.5 million in its Ernst and Moore Metal Technology operation in Moraine, creating 25 new jobs. And DaimlerChrysler AG announced a week later that it would build the new Nitro mid-sized SUV at its Toledo plant. Gov. Taft's plan (1) encourages auto companies to make strategic investment to retain jobs by supporting an Automotive Revitalization Tax Credit and other grants and loans; (2) helps automotive companies implement job-training programs to elevate workers' skill sets; (3) establishes tax credits and financial assistance to facilitate product innovation and cost savings throughout the automotive supply chain; (4) facilitates permit efficiency and better communications between Ohio Environmental Protection Agency and the state's auto industry; and (5) works with the Bush Administration to address federal issues affecting Ohio's automotive industry. "Our goal is to drive down the cost of doing business in Ohio, keep jobs, create jobs and encourage next-generation innovation," Taft said. |
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