Ohio’s Effort to Take Back GM Tax Breaks Delayed

The Ohio state agency tasked with figuring out how to recoup taxes from GM delayed taking action on Monday.

Shortly before a meeting of the Ohio Tax Credit Authority, the item pertaining to GM’s tax breaks was taken off the agenda. The move, reports The Columbus Dispatch, is not unusual but no explanation was given for the move.

The taxes in question are worth roughly $60 million and have been become an issue because of GM’s decision to stall its Lordstown, Ohio. The automaker received the breaks starting in 2008 as an incentive to open the plant. The deal between Ohio and GM, though stipulated that the plant keep employing Ohioans until 2027.

The state organization approves tax incentives for economic development projects throughout the state. It is also overseeing the question of giving GM more incentives to open a battery plant in the state.

GM, along with LG Chem, are partnering to build Ultium batteries for a collection of electric vehicles it is planning. The plant is projected to create 1,100 jobs.

Comments