Fortune 50 automaker opposes Ohio's efforts to recover $60 million in tax credits
Clients Fortune 50 automaker
Jones Day represented a Fortune 50 automaker in opposing the State of Ohio's efforts to recover $60 million in job creation and job retention tax credits provided to the automaker in connection with the modernization of a manufacturing plant in Ohio. After a decade of meeting its job creation and job retention goals under the tax credit agreements, the automaker closed its facility as a result of declining sales and shifting consumer preferences. Notwithstanding the automaker's long-standing commitment to the plant and the related job creation and retention, the Ohio Tax Credit Authority Board sought the return of 100% of the $60 million in tax credits provided to the automaker. The dispute was resolved through settlement.