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Thursday, June 4, 2015

Tax Incentives to Attract Cracker Plant to Ohio Would Mean Cuts for Belmont County Schools

From The Intelligencer/Wheeling News-Register:
Belmont County Commissioner Mark Thomas said real estate taxpayers in the Shadyside Local School District will get their say regarding incentives that could be part of attracting the $ 5.7 billion ethane cracker project to the RE Burger plant site.

On Thursday, Thomas and Shadyside Local Schools Superintendent John Haswell reacted to reports that Jobs-Ohio, the state's private economic development corporation, offered a "aggressive incentive package" to Thailand-based PTT Global Chemical and Tokyo's Marubeni Corp. According to the report, such stimuli could include local tax credits, along with state-level incentives for job creation, workforce development and infrastructure improvements. 
". Any economic development transaction of this size will have economic incentives of this type Belmont County has been asked to look at incentives - real estate taxes," Thomas said, adding approximately 65 percent of this property tax revenue goes toward funding local schools ". We will work with the Shadyside Local School District to make sure they are compensated fairly. "
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