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|Weekly News and Opinion from Ohio's Newspapers|
June 1 - 7, 2010
|Welcome to the latest issue of Economic News from Ohio's Regions, a new weekly newsletter from the Maxine Goodman Levin College of Urban Affairs and Cleveland State University. We'll search Ohio's papers to bring you economic news and key happenings that impact Ohio's regions.
|Redistricting reform stalls in legislature (Columbus Dispatch, June 3, 2010) The spotted salamander and tax incentives for clean-energy projects were
on their way to
surviving a marathon day at the Statehouse yesterday, but a plan to
change the way Ohio draws
legislative districts did not.|
Fish kills cost region $30 million annually (Toledo Blade, June 3, 2010) Northwest Ohio has been losing nearly $30 million a
year from FirstEnergy Corp.'s failure to reduce fish kills at its
coal-fired Bay Shore power plant in Oregon.
Local officials voice concerns on wind energy project (Van Wert Times Bulletin, June 4, 2010) Both Van Wert
and Paulding counties have been in the cross hairs of wind energy
companies over the past two years. While the planned wind farms could
provide economic development to the region, many locals are keeping a
close eye on the situation and on what role local officials will get to
play - if any.
Foreclosures still rising in Mahoning Valley (Youngstown Business Journal, June 4, 2010) Data released Thursday by CoreLogic shows that the rate of foreclosures
among outstanding mortgages for the Youngstown-Warren-Boardman area
stood at 4.2% during April, compared to 3.75% for the same month in
2009, or a .45% increase.
57 to lose jobs as Lebanon auto supplier to close (Middletown Journal, June 5, 2010) A local plastics manufacturer will shut down its operations effective
July 3, leaving 57 employees out of a job - one of the city's largest
Team NEO upsells area's global appeal (Akron Beacon Journal, June 6, 2010) More than 60 percent of the country's new direct
foreign investment in 2008 came from Europe, according to a June 2009
report that van Kessel cites. Team NEO defines the region as a
16-county area, including Cuyahoga, Medina, Portage, Stark, Summit and
Demand for debt counseling even higher now (Columbus Dispatch, June 6, 2010) As the economy starts to rebound, business is picking up for many
industries, including, oddly enough, the debt-counseling
Investing in energy technology makes sense (Youngstown Vindicator, June 6, 2010) Last week, Youngstown State University announced plans to install solar
panels on the roof of the College of Engineering and Technology. This
initiative, one of the largest clean energy projects of its type in
northeast Ohio, is part of a campus-wide commitment to reduce energy
consumption by 20 percent and save the university $500,000 per year in
lighting costs alone.
State funding for Baard project approaches (The Review, June 6, 2010) Baard Energy must have its financing in place by June 30 for the
Columbiana County Port Authority to retain $4.5 million in state funding
received to purchase property for the project, but the company is
prepared to proceed regardless of what happens.
Buried treasure (Youngstown Vindicator, June 6, 2010) Drilling is not likely to take place in the Mahoning Valley because the
natural gas in the western part of the Marcellus shale requires more
refinement. However, the area can benefit from the supply-chain network
emerging to support the shale's exploration.
Figure skating event to bring $1M for local economy (Dayton Business Journal, June 7, 2010) A summer figure skating competition in Troy is expected to pump more
than $1 million into the local economy.
Who's to blame for job loss? (Cincinnati Enquirer, June 7, 2010) For the next five months, on an almost daily basis, the Democratic and
Republican candidates for Ohio's open U.S. Senate seat will spend much
of their time trying to tie an albatross around the other's neck.
Next on recession's hit list: teach salaries (Columbus Dispatch, June 7, 2010) After years of tightening their belts, school districts now are reaching
into the bulk of
their expenses - salaries and benefits - to curb costs. Across the state
and nation, more school
boards and unions are settling on one- to two-year contracts with
cost-of-living increases from
zero to 1.5 percent, officials say.
Ohio's young adults face long road to the middle (Public News Service-OH, June 7, 2010) According to a new report from Policy Matters Ohio, just as
they should be getting started, young adults face high education costs,
lower wages and weaker regulation of exploitative lending.