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Kasich outlines Ohio private job agency's next moves
TweetCOLUMBUS (AP) — Gov. John Kasich says his administration will begin formal steps next week toward empowering the state’s new private job-creation partnership, JobsOhio. The panel has so far been operating on private donations.
Kasich told reporters today that an agreement has been struck between the state budget and commerce departments that will transfer the state liquor business to JobsOhio for the next 25 years. Consumers shouldn’t notice a difference.
The pact will be submitted to the state Controlling Board on Jan. 30. Within a couple weeks, legislation is expected to be unveiled fine-tuning JobsOhio operations.
The bill proposes giving Kasich’s top jobs adviser, JobsOhio interim investment chief Mark Kvamme, a spot on the Ohio Third Frontier Commission, Ohio Tax Credit Authority, and a newly created Tourism Advisory Board.
Comments
Vindy: any thoughts on the private use of taxpayer money? Any thoughts on the governor's lack of concern over the policy of ZERO accountability for said tax dollars?
This is what we voted in !!!!! LIVE with it or recall
Since the Vindy failed to publish the majority of the article:
"JobsOhio set to pay state $1.4 billion for rights to liquor profits"
"JobsOhio will sell long-term bonds backed by future liquor profits to pay the $1.4 billion."
http://www.dispatch.com/content/stori...
"In that deal, JobsOhio would pay the state $500 million that would go into the general-revenue fund. It also would pay the state about $750 million to pay off debts now backed by liquor profits, and about $150 million for Clean Ohio environmental-revitalization projects submitted prior to July 1."
JobsOhio also would make additional payments to the state based on annual growth in profits from liquor sales, and up to $43 million per year for future revitalization projects.
"But that deal won’t close until JobsOhio raises cash via the bond market."
"In return, the private development firm would use what’s left over from the lease of the liquor profits — JobsOhio interim chief investment officer Mark Kvamme estimates about $100 million per year — to fund its jobs outreach and marketing."