For the second year in a row, the annual compliance report from Ohio Attorney General Mike DeWine’s office showed a record compliance rate for companies receiving state job-creation incentives, Columbus Business First reports. Of the 329 companies that received “state grants, loans and tax breaks in return for promises of job creation,” 279 met “at least 90 percent of their commitments,” for an overall compliance rate of 85 percent. The previous record of 79 percent compliance was set the year before. Some companies who did not meet their hiring targets had their awards reduced or altered, including Highlights for Children, which had its seven-year, 45 percent tax credit reduced to five years “because it created 17 of 50 promised jobs and 26 percent of the pledged $3.8 million in new payroll,” in addition to retaining 164 jobs, according to the article. RevLocal Inc., Sedgwick Claims Management Services Inc., and Brand Thunder LLC also had their awards modified for not hitting their hiring targets. For more, read the full article.
Ohio companies set record for compliance with 2015 incentive agreements
