U.S. Supreme Court rules in favor of DCX on Ohio tax incentives
Yesterday the U.S. Supreme Court overturned a decision by the Sixth U.S. Circuit Court of Appeals that ruled the state of Ohio's decision to use tax incentives to attract DaimlerChrysler's business was unconstitutional. Ohio had granted DCX an investment tax credit after the company decided to build its Toledo North Assembly plant in the state but a "taxpayer group" headed by who else but Ralph Nader challenged it. DCX sees the ruling as a victory for America that will help keep investment and jobs within our borders in an increasingly competitive global market. A statement made by Ohio government Bob Taft reveals that the tax in question levied against an incoming company's machinery and equipment is no longer in effect anyway, though the Supreme Court's ruling means Ohio will be able to honor the incentives it had offered other companies in return for their investment in the state.
[Source: DaimlerChrysler]
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