8legs: Keith faber

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Audit shows companies failing to create promised jobs

The Ohio audit found 39 of 60 companies failed to meet their job-creation commitments tied to state incentives.
The Job Creation Tax Credit is performance-based, allowing clawbacks or changes if metrics aren’t met.
The Department of Development said it may modify or rescind agreements with noncompliant companies.
Auditor Keith Faber emphasized the need for taxpayers to know companies must meet their end of the bargain.
The audit notes some firms exceeded expectations, hiring more workers at higher pay.
The audit is described as a snapshot and notes actions vary by agency.
The testament highlights that incentives require sustained compliance over time.
The Department of Development defended the program, noting clawbacks and adjustments are possible.
According to the report, some compliant companies kept or exceeded their obligations.
State agencies plan to adjust incentives to ensure accountability for job creation.

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