A recent change of strategy for the Kasich administration’s economic development efforts will reduce the number of large-scale incentive packages offered to retain, expand or attract businesses in favor of a greater emphasis on “broader issues” that involve investing in the state’s competitive assets, including “infrastructure, talent and technology,” Crain’s Cleveland Business reports (see our January 29, 2013, blog post for more information). This new return-on-investment approach is not without its critics, as some have noted that altering the Clean Ohio revitalization fund program to require end-users before communities receive funds will cause cities to have difficulty competing to attract businesses because companies “don’t want to commit to a move if they must wait a year or more for an environmental cleanup before they can begin construction or renovation,” the article said (see our February 22, 2013, blog post for more information).
JobsOhio’s economic development strategy looks beyond financial incentives
