Those who don’t learn from history are bound to repeat it. While making cuts to essential safety services- our local government has time and money to hand out “Economic Development” money to hand-picked corporate entities to “encourage business growth and retention.” This just days after UltraCell, a prior recipient of these types of funds closed up shop and went home.
Here is the press release as reprinted in the Dayton Daily News:
DAYTON — The cities of Dayton, Vandalia, Riverside and Miami Twp. will share $575,000 in Opportunity Reserve Funds from the Montgomery County Economic Development/Government Equity Program to encourage business growth and retention.
The Montgomery County Commission, on Tuesday, Aug. 24, approved two grants for Vandalia totaling $175,000; Dayton got $50,000; Riverside $150,000; and Miami Twp., $200,000. Several of the businesses are looking at multiple locations. If a company locates outside of Montgomery County, it doesn’t get the award.
• The city of Vandalia got awards of $125,000 for Project Crossroads and $50,000 for Projects Unlimited. Project Crossroads is working with property owners to occupy a vacant building at 707 Crossroads Court. The property owner, Construction Managers of Ohio, proposes spending $775,357 to upgrade electric service and install a new transformer to increase electric power to accommodate equipment used by a potential tenant, auto parts manufacturer Inteva Products.
Projects Unlimited, 6300 Sand Lake Road, wants to establish a cable and harnessing division within the company’s aerospace business. The project includes additions to an existing building at a cost of $1.26 million.
• Dayton’s $50,000 award would go to home builder NVR Inc., 2094 Northwest Parkway. The company’s $3.5 million project involves development of a new truss factory in Dayton creating 60 jobs over three years with an annual payroll of $1.74 million.
• Riverside will get $150,000 to assist InfoCision Marketing Corporation. The building InfoCision leases at 101 Woodman Drive is under foreclosure and the company wants to purchase and renovate it at a cost of $3 million. InfoCision will retain a minimum of 250 jobs for the next three years with estimated annual payroll of $4 million.
• The largest award, $200,000, goes to Miami Twp. for VRI, 9111 Springboro Pike, Miamisburg. VRI’s corporate headquarters, call center and customer support center are in West Carrollton, but the company needs to move to a larger facility.
The company expects to increase its 100 employees to nearly 300 within five years. ED/GE funds will go toward design, building and leasehold improvements.
The first warning sign post on Esrati.com about UltraCell was on Dec. 12, 2008, look to a post within 2 years of one of these companies falling apart- or not delivering what was promised.
If our politicians would work on consolidating government, thereby reducing the tax overhead required, we would be able to attract a lot more business to the area. Ohio has too many taxing jurisdictions and one of the highest costs of government in the country. Let’s spend our money eliminating duplication of services- starting with unifying our police forces into one department with one well paid chief who is accountable for reducing crime and shortening response times.
There- that wasn’t too hard to re-direct tax dollars to their intended purpose.