City Offers Riddel Inc. $14 million in tax incentives.

[Bill Call]

For 320 employees.

[Stan Austin]

Bill-- get out your "higher math" municipal calculator-----How much economic activity and/or municipal payroll taxes would this number of employees generate?

[Bill Call]

Bill-- get out your "higher math" municipal calculator-----How much economic activity and/or municipal payroll taxes would this number of employees generate?

There is a difference of opinion on the economic multiplier of a job. This article attributes a multiplier of $100,000 per job:


http://lacrossetribune.com/news/local/h ... 34d85.html


This article reports on the continuing economic decline in Ohio that has occurred Democrats and Republicans:

http://www.ohio.com/news/local/a-state- ... e-1.666893

Cities think they have no choice but to compete for every job since there are fewer and fewer good paying jobs.

[Michael Loje]

I presume the city you are speaking of is North Ridgeville?

[Tim Liston]

I read an article just a couple days ago that said that $45 billion per year is doled out in tax favors by states and cities to attract business (and their jobs) from other states and cities. No surprise there.

And maybe equally unsurprising, the article cited a study that could not find one single instance of the relocating business actually resulting in the number of jobs promised. Most fell far short. And also unsurprising, none of the cities made an effort to recoup any of the unearned tax credits.

The conclusion was that city officials were not as interested in attracting jobs as they were interested in appearing to attract jobs.

The article should be easy to find. It was on Bloomberg I think. I bet Bill has read it too, given the timing of the article and this thread....

[Bill Call]

I presume the city you are speaking of is North Ridgeville?

Yes, although another article mentioned that Elyria was offering $10 or $12 million to keep them.

I read an article just a couple days ago that said that $45 billion per year is doled out in tax favors by states and cities to attract business (and their jobs) from other states and cities. No surprise there............................

The article should be easy to find. It was on Bloomberg I think. I bet Bill has read it too, given the timing of the article and this thread....

I originally saw the article in the Wall Street Journal.

Since all roads lead to the Hospital Debacle...

I don't know where you stand on the issue but I think we can both agree that the City's cavalier attitude towards the loss of 1,500 jobs was crazy? corrupt? stupid? incompetent? pick your adjective.

I wonder how much good is all this discussion ?

Here is a quote of a quote that contains a clever quote:

"Ought we not bear in mind, with the poet Stéphane Mallarmé, that when we amuse ourselves thus and become so inebriated with scandal, we “yawn gloomily toward a dark demise.” "

[Marguerite Harkness]

Economic multiplier:

Hospital jobs average $70,000 per employee. (Some higher, like doctors; some lower, like registrars.)

Each hospital job produces $250,000 in annual economic activity in that community.

[Lori Allen _]

Bill,

I believe the hospital deal is both corrupt and stupid, but, especially corrupt. I believe the hospital is just one of many other scandals going on in Lakewood right now.

When the Mayor has to send out his "Deck Watchers" to patrol the Deck, you know that it appears that someone posting is definitely getting close to something that the Mayor has been hiding from his residents.

With the loss of the Hospital payroll taxes, and with our incompetent Mayor patting himself on the back for his economic development plan of bars, vape lounges and burner cell phone stores, it is only a matter of time before the city asks us for more money. (Rumor has it the city is already broke and can't pay the bills).

Throw in ten to fifteen year tax abatements on the ugly, out of place condos, and the city has even less money coming in. Don't forget, the schools are coming to us also, real soon, for more money.

We need to hold these people accountable. It is time to say no until we see ALL the public records, especially the financials, from both institutions!