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Thursday, May 21, 2015

Noble County Chamber of Commerce and Tourism Bureau Speak Out Against Ohio Severance Tax Proposal

From Gas & Oil:
The Noble County Chamber of Commerce and Tourism Bureau, Caldwell, once again voted to oppose the governor’s severance tax proposal on the shale oil and gas industry in Ohio during the monthly Board of Director’s meeting. 
In a statement from the Chamber and Tourism Bureau, Jill McCartney, president of Chamber, said, “The board recognizes that Utica Shale development is in its infancy in Ohio and that it will take several years to determine the full economic opportunity in the shale formation. Ohio has been a business-friendly state and should continue to encourage gas and oil production, and not build barriers that would jeopardize that growth in this industry or any other industry. 
“The Appalachian region has experienced slow growth and high unemployment for many years. Drilling in the Utica Shale play could result in economic growth that has not been seen in decades.

“There are over 30 shale developments in the United States and many more overseas. If we over-tax the industry in Ohio, we will not be able to compete with other areas where the taxes are lower.

“We are not willing to risk this new opportunity. We have the chance to experience unparalleled economic change in a part of the state that lags behind in employment, income and other critical measures.
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