Eklund Bill Seeks To Encourage Community Investment
Extends Enterprise Zone Deadline
April 03, 2012
 
[ John Eklund Home | John Eklund Press ]
 
 
Columbus - 
State Senator John Eklund (R- Munson Township) introduced legislation to extend the certification deadline for local governments who want to qualify for a state program geared toward attracting new jobs through new business tax incentives. The Ohio Enterprise Zone is not part of the traditional zoning program, which limits the use of land; instead it allows local officials to negotiate with businesses to encourage new business investment. "As our economic recovery continues, it is important that we use every resource at our disposal to attract and retain jobs," Eklund said. "Extending Ohio's enterprise zone law will enable our communities to continue to offer these incentives to employers looking to grow and expand their companies." With this program, communities can become more competitive in attracting new industry as well as targeting the type of business it wants. Attracting new investment will not only provide new employment opportunities, it can also increase local tax revenues. Businesses benefit from the offset of the high costs of business start-up activities. Such incentives help provide a competitive advantage for Ohio sites and businesses can reinvest in their facilities and equipment, helping them grow and remain competitive in the long term. Communities seeking to create an enterprise zone submit a petition to the Ohio Department of Development detailing the geographic boundaries of the zone, population requirements and other information. Once the zone is certified, local officials can then develop incentive agreements with businesses that invest in the zone. Companies must meet certain qualifications and make significant investments in property, land, machinery or equipment in order to apply for tax incentives in the enterprise zone. Senate Bill 320 will next be assigned to a Senate committee for further consideration.
Senator Eklund represents the 18th Ohio Senate District, which encompasses Geauga and Lake counties as well as portions of Cuyahoga County. For more information, please visit www.ohiosenate.gov/john-eklund.
 
 
 
  
Featured Posts

Eklund Upholds Justice System And Strengthens Defendants' Rights

 

“It’s important to have clarity and certainty in the procedures of our criminal justice system,” stated Eklund.  “Without it, prosecutors' jobs are more difficult, defendants risk losing rights, and public confidence in the system suffers.”



 
 

MEDIA ADVISORY: Eklund Attends National Public Safety Summit In Washington D.C.

 

“The time has come for public safety and corrections policy to be driven more by data analysis than by guesswork and suppositions,” said Senator Eklund. “Part of that analysis must factor in the very real impacts that behavioral health issues and the current drug crisis are having on the system."



 
 

A Day To Honor Our Military Men And Women

 

Our veterans come from all backgrounds, regions and walks of life. Some have even made the ultimate sacrifice on the battlefield. But they all have one thing in common: courage.



 
 

Honoring The Families Of Ohio's Military Personnel: August Is Ohio Military Family Month

 

Every day, our great nation is protected by thousands of dedicated men and women in uniform. Our military members make countless sacrifices so those of us here at home can live safely and freely.