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Friday, July 08, 2011

'Paid to Sprawl' report

Businesses net millions moving within Ohio metros - Yahoo! Finance: "A new study reviewing 15 years of business relocations in the Cleveland and Cincinnati areas says 164 small- and medium-sized firms have received millions in property tax breaks to move facilities from one location to another within the region.

'Paid to Sprawl' was released Thursday by the nonprofit Good Jobs First research center. It says relocations often moved jobs out of cities and areas with higher poverty rates and more minorities to more affluent, less diverse areas.

Report authors recommend that the state encourage regional economic-development cooperation to prevent 'poaching' of companies and consider regional tax-revenue sharing.

Findings show relocations from 1996 through 2005 were given abatements estimated at $39.3 million. Relocation abatements from 2006 to 2010 were unavailable, but the report says taxes were exempted on at least $37.4 million worth of property."

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