The Ohio Attorney General's office has issued a report indicating that 47.6% of Ohio businesses whose economic development incentives expired in calendar year 2010 failed to meet the terms of their agreements with the state, which included creating or retaining a certain number of jobs, training workers, or investing capital, an article in Gongwer reports. Only 220 of the 420 businesses that had periods ending in 2010 "substantially complied with the terms and conditions of their economic development awards," the article said. It is important to note that more than 60 companies examined in DeWine’s report that were found not to be compliant, didn’t turn in a compliance form or didn’t receive one to begin with.
The Ohio Department of Development declared the report's results a success since they represent an improvement over fiscal year 2010, when only "16% of the 77 businesses that obtained grants actually met the terms of their contracts and 24% of the 82 companies that got state loans met their requirements," the article said. Additionally, The Columbus Dispatch reports that "companies were most likely to be in compliance with work-force training commitments (81.7%) and tax credits (54.3%)."
