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News: JobsOhio tax credits go mostly to Columbus, Cincinnati Enquirer
Notes: We need the wealthiest corporations in Ohio to pay their fair share. Tax credits can be an effective economic development tool to encourage a business to do something that they would not do otherwise, such as designing an eco-friendly building, or abiding with a green space policy to enhance a community feel. However, tax credits are not an end-all answer to economic development. Tax credits also give advantages to those corporations who receive them over those who do not.
News: After the Shutdown, Akron Beacon Journal
Notes: State and local governments continue to provide tax credits, incentives, and other financial perks for large businesses that set up shop in their community. However, with the recent Lockheed Martin decision to close their plant in Akron, we see a few realities of modern economics emerge. First, Government investment matters. Lockheed Martin contracts with the defense department, and as a result of austerity, they need to reduce their labor force. Likewise, when Ohio invests in healthcare, social services, education or infrastructure, Ohio creates jobs as a direct result. Second, companies will not hire or fire people based on the availability of tax credits, but will hire and fire based on consumer demand.
