Report says Ohio ties Texas for third-highest number of giant subsidy packages
A new, in-depth report from the nonprofit national policy resource center Good Jobs First has Ohio tied with Texas for the third-highest number of tax incentive packages valued at $75 million or more, The Blade reports. The report, "Megadeals: The Largest Economic Development Subsidy Packages Ever Awarded by State and Local Governments in the United States," looks at 240 giant subsidy packages dating back to 1976 and ranks Michigan number one with "29 subsidy packages worth a combined $7.1 billion." Ohio's 12 megadeals total $1.53 billion and include "two 2011 deals, $78.5 million for Marathon Petroleum Corp. of Findlay and $148.1 million for American Greetings Co. in Westlake," the article said. For more, read the full story and report.
