July 10, 2014

A Belated Congrats on the GE-Cincinnati Deal

Filed under: Economy,Taxes & Government — Tom @ 7:49 am

Yours truly certainly hasn’t held back in criticizing the Kasich administration’s Columbus-centric job market results, and won’t in the future.

That said, it would be bad form not to recognize and congratulate it and Southwestern Ohio leaders on the success they have achieved in landing General Electric Co.’s U.S. Global Operations Center at The Banks in downtown Cincinnati, which is scheduled to open in 2016.

The total incentives offered are arguably far too large ($112.4 million), but until the courts grant existing taxpayers who aren’t getting any breaks legal standing and equal protection in fighting disparate treatment — an idea the Supreme Court unanimously rejected in 2006 when Toledo taxpayers challenged tax giveaways to Chrysler in the late 1990s — these kinds of deals are going to continue, simply beause other states are doing it.

Right now, they’re quibbling over GE’s building design. That’s a relatively nice problem to have.

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