columns@tribtoday.com
The economic impact of the oil and natural gas industry in Ohio has been immense over the past decade. Whether the result of the thousands of well-paying jobs the industry has generated or the billions of dollars invested in the Mahoning Valley and beyond, the oil and gas industry is a key economic driver in the Buckeye State.
The industry is creating economic opportunities for people in communities across Trumbull, Mahoning, Columbiana and other counties that are home to gas and oil wells, as well as the industry’s supply chain. To portray Ohio’s oil and gas industry as anything other than an economic pillar in this region of the state, as a recent report by the Ohio River Valley Institute did, is disingenuous at best and manipulative at worst.
Guy Coviello
The economic impact of the oil and natural gas industry in Ohio has been immense over the past decade. Whether the result of the thousands of well-paying jobs the industry has generated, or the billions of dollars invested in the Mahoning Valley and beyond, the oil and gas industry is a key economic driver in the Buckeye State.
The industry is creating economic opportunities for people in communities across Trumbull, Mahoning, Columbiana and other counties that are home to gas and oil wells, as well as the industry’s supply chain. To portray Ohio’s oil and gas industry as anything other than an economic pillar in this region of the state, as a recent report by the Ohio River Valley Institute did, is disingenuous at best and manipulative at worst.
bcoupland@tribtoday.com
LORDSTOWN Village officials have approved a tax incentive donation agreement for the Trumbull Energy Center plant project to provide payments in lieu of taxes to Lordstown.
The agreement will have the power plant pay the village over 15 years after operations begin in 2024, including $420,000 when the project closes; $890,000 13 months after that; and $890,000 25 months later, according to Mayor Arno Hill.
For the first five years, the company will pay $295,000; for the second five years, $395,000; and for the last five years, $440,000, Hill said.
Hill said the village will also receive a 1 percent income tax from the plant.
“We were able to renegotiate this with the company for payments in lieu of taxes. The village can’t just give tax abatements without receiving something,” Hill said.