The Ohio Enterprise Zone’s (OEZ) Annual Report was presented to Xenia City Council recently with recommendations from Greene County Tax Incentive Review Council.
When the Council agreed to Wal-Mart’s Superstore wishes, Wal-Mart dropped its sizable tax incentives, which means they didn’t have to pay us taxes. Thank you Wal-Mart.
Another profitable business has dropped its tax abatements. Barco Simulation asked that its two enterprise zone agreements be discontinued. Barco Simulation is a U.S. subsidiary of Barco of Beligium.
The city still has Enterprise Zone Agreements with the following ten companies:
1. Brown Publishing’s OEZ is 62% abatement of applicable real and personal property taxes.
2. CIL Isotope Separation, Inc. (Agreement #2) continues at 61% abatement of applicable real and personal property taxes.
3. CIL Isotope Separation, Inc. (Agreement #3) consists of a 65% abatement of applicable real and personal property taxes that may be eligible in the current tax year.
4. CRG has a 70% abatement of applicable real taxes that may be eligible in the current tax year.
5. Lowe’s Home Centers, Inc. receives a 50% abatement of applicable real taxes that may be eligible in the current tax year, contingent upon filing of DTE 23.
6. Ohta Press US, Inc. (OEZ Agreement #2) is a 45% abatement of applicable real and personal property taxes.
7. SAS Automation, LLC. (OEZ Agreement #1) is a 36% abatement of applicable real and personal property taxes.
8. Superion, Inc. (OEZ Agreement #2) is 40% abatement of applicable real and personal property taxes.
9. Twist, Inc. (OEZ Agreement #4) is 75% abatement of applicable real and personal property taxes.
10. Yoder Die Casting Corp has a 75% abatement of applicable real and personal property taxes.
Some readers might be asking whether those businesses that have been in operation more than 5 or 10 years should be given any tax breaks. Isn’t the purpose of a tax abatement to give new businesses time to grow a profitable business? Is a free ride really beneficial to the city i.e. citizen of Xenia?
It turns out that these businesses are not given a free ride. They paid
$265,365 in 2008 and were given OEZ tax breaks amounting to $116,009. As Mr. Brodsky pointed to Mayor Penewitt, the City “abated less than half the total amount collected on those agreements.”
I don’t know about you but I like the word a-bait-ment. I wonder who is baiting whom, really.