Nearly $1.1B in incentives for Intel project set for approval
Ohio lawmakers are expected to dole out nearly $1.1 billion in incentives and tax assistance for Intel’s semiconductor project in Licking County.
The huge investment in roads, infrastructure and tax changes, which includes both state and federal taxpayer money, was included in the state’s capital budget. The Ohio Legislature is slated to approve the changes today.
Intel has promised to invest $20 billion in building two factories, called fabs, in Licking County to make semiconductors. State officials have laid out more than $2 billion in incentives, in total, and this budget is part of that overall sum.
Lawmakers previously approved a 30-year tax credit for “megaprojects,” which helped Ohio land the Intel computer chip factory in January. Gov. Mike Dewine has touted the company’s project as a win for central Ohio and the entire state.
Legislators now want to expand those tax benefits to Intel’s Ohio suppliers, exempt certain new equipment costing more than $100 million from Ohio’s commercial activity tax and exempt research and development equipment from sales tax, said Rep. Scott Oelslager, R-north Canton, during a Tuesday hearing.
The package also includes a $600 million “onshoring incentive,” $95 million for local roads and around $400 million for local water and sewage projects, said state Sen. Matt Dolan, R-chagrin Falls. If Intel doesn’t go forward with its project, Ohio could claw back that $600 million incentive.
Under the changes, Intel would need to provide an annual economic impact report and could lose incentives if the company doesn’t meet certain requirements, such as the number of people employed.
The $3.51 billion capital budget also includes $191 million for community projects, $100 million for school safety grants and $50 million for improvements to local jails.
CASES CALLED INCLUDED:
■ Richard E. Brewer,
35, of 430 Scott St., no operator’s license, guilty, guilty, 45 days of jail, concurrent with CP court sentence, assessed costs $100, failure to control, guilty, assessed costs $50, seat belt driver, guilty, assessed costs $50.
■ Richard Cochran, 59, bench warrant served-deft jailed, guilty, bond $5,000.
■ Derik D. Davis, 53, of 1170 Johnny Lytle Ave., bench warrant served-deft jailed, guilty, bond $2,500.
■ Honiesty M. Fenwick, 23, of 929 Warder St., felonious assault/weapon, innocent, continued, PD appointed, no contact conducive of bond, OR bond.
■ John Florence, 56, of Lebanon, request for bail, continued, PD appointed, bond set at “no bond.”
■ Patrick Foley, 33, of 234
W. Parkwood Ave., bench warrant served-deft jailed, guilty.
■ Linda D. Humphrey, 58, of 409 Rice St., domestic violence, innocent, continued, PD appointed, no contact conducive of bond, OR bond.
■ William Lyons, 48, of Urbana, DUS- operator’s license forfeiture, guilty, guilty, assessed costs $500.
■ Henry W. Shepherd,
46, of 37 E. Madison Ave. Apt. H, criminal trespass, continued, PD appointed, mental health evaluation at jail, bond $1,000.
■ Cain E. Taylor Cain II,
26, of 56 Lincoln Ave., request for bail, innocent, continued, bond $500.
■ Luther Wills, 56, of Columbus, request for bail, innocent, continued, DEFT to provide mailing address if posts bond, bond $100,000.