Jobs In Ohio have continued to decline for the past two years with an unemployment rate spike of 10.2 percent last October 2009 which raises the question: How much employment decline used to be because of the the financial recession and what kind of used to be contributed to Ohio's lack of attracting investment into the state? It would appear that after the first year of America's economic recession that there would be a counter-movement in the level of direct investment in Ohio. This theory is supported by the truth that useable land zoned as "commercial real estate" inside the state of Ohio has seen a steady decline in value since the onset of 2008. The whole thing from empty land a lot, vacant mini-strip malls and half vacant workplace buildings, and convertible factory facilities could be found in every small and large city in Ohio. But why are other American states and foreign countries forgoing investing their sovereign wealth funds into the American Midwest where the expense of doing business is cheap and the eventual distribution of products at some stage in the American interior is scalable? Recently this November 2009, an Ohio trade delegation which included Cleveland Mayor, Frank Jackson gave a passionate presentation on the Bulgarian Chamber of Commerce and Industry. The Ohio trade delegation's project used to be titled, "Making an investmentin America, Destination Cleveland." Official state figures claim that more than 350 billion Euros used to be invested into Ohio from European governments and businesses. Because the start of 2007, the Ohio trade delegation official named, The Greater Cleveland Partnership has traveled to Europe constantly to encourage investment regardless of the ongoing global economic crisis that has also weakened the investable finances of Ohio's partner countries. This loss of recognition has cost Ohioans new employment or a continuation of investment from former long-term foreign investors. The Governor's place of business of Ted Strickland has not adequately addressed expansive measures to save lots of Ohio from affected by two ongoing economic events; brain drain-college graduates leaving the state, and the lack of direct investment in open bid projects, and partnership offers for development. Ohio tax incentives don't seem to be flexible enough to attract big foreign investors who're also desperate to manufacture and distribute their products at some stage in United states. Ohio should follow the historical example of Russian Empress Catherine II 1729-1796, "Catherine The Great", a German born empress who made Russia stronger, expanded its borders, improved its administration and a large amount importantly revolutionized a method to attract foreign direct investment into regions of Russia that were lagging. Then Governor of New York , George E. Pataki in June 2002 didn't fail to remember his world history either. Pataki's government declared New York's Schuyler County an "Empire Zone". This special status conferred to the county, allowed for extreme tax advantages for different classes of business, some having to pay no taxes for a probationary period of years. Governor George Pataki created hundreds of jobs with the instant attraction of hotel and light factory construction projects within the "Empire Zone" of Schuyler County. This was once one copied strategy orchestrated by Catherine the Great who successfully developed the port city of what's now Odessa, Ukraine. She had her diplomats advertise in an instant to wealthy land owners and skilled laborers in Europe and business men to relocate their businesses to the strategic port city Odessa. Some Europeans received free land, alternatively almost each were able to conduct business in Odessa for a number of years without needing to pay the Russian government any money. The post-crisis economy of Cleveland , Ohio has striking resemblances to Odessa's dire catch 22 situation before Catherine The Great began her tax-free investment -resettlement zones. Ohio Governor Ted Strickland and Cleveland Mayor Frank Jackson will have to collaborate to create legislation with a view to create 100 percent tax free zones in Ohio just for foreign investment. They need to follow the success of former New York Governor, George Pataki and create an Odessa style "Empire Zone" in Cleveland along the shore of Lake Erie, also a key transportation hub for the Midwest . The flexibility of having to pay taxes in a deferred status like many foreign investors had achieved under the reign of Catherine The Great enabled the investors to reinvest what they would have paid in taxes into hiring new employees, expansion, and much needed charitable donations to the surrounding city. Many Ohio cities can benefit in the short-term and long-term from such an investment strategy. Even though, the public record of Mayor Frank Jackson's detailed investment presentation has not been 100% public. We can only assume that his Greater Cleveland Partnership failed to attract the number of marquee billion dollar projects that would inspire young college graduates to remain in the state and not abandon lower paying jobs in Ohio for higher paying jobs within the East Coast States. There are quite a bit of dynamics interplaying with one another in Ohio's economic problems. Solutions that seem obvious to the common man such as myself are inherently hidden or lost in the politics of self-interest on the state level. At the identical time asother Midwest states are experiencing decreasing job loss, Ohio's unemployment rate seems to be stuck at 10 percent forever. Ohio's reversal of fortune seriously is not not possible, it will probably involve a practical plan to overhaul unfair or excessive state taxes, or completely forgive tax payment for qualifying certain businesses in order to stimulate employment on the "small business" level. Not only are small businesses so crucial to resolving local small town unemployment just as large factories facilities provide jobs in bigger cities, but small businesses are the engines of growth across all theMidwest. The political will of Ohio's politicians might be tested in the next 12 months as the remainder of U.s.a. initiates more impacting economic recovery plans. Will Ohio end up to be a lackey state, or worse yet a "failed state" where the level of unemployment and the level of brain-drain match one another. Should you were to ask any college graduate from Ohio where their first choice for employment, I doubt you'll hear them claim a major city in Ohio, but rather a nearby state like Pennsylvania or Indiana or Michigan for relocation and employment. Young college educated individuals aren't interested by finding lower paying jobs in Ohio, which there are many , but relatively a full-time entry level job with comprehensive health benefits. These sorts of income and benefit guarantees can only be attained from a large company, or global company that has significant capital outlays for expansion even in a down economy. Ultimately the fate of Ohio's employment recovery may lay inside the hands of Ohio voters, who could elect new politicians who promote more radical recovery and foreign investment ideas comparable to the economic policy triumphs of Russia's Catherine II.
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