Ohio legislators vote in an effort to keep American Greetings in Brooklyn

COLUMBUS, Ohio - On Wednesday, State Representatives voted in favor of a Job Retention Tax Credit for American Greetings in the hope of keeping the greeting card manufacturer in Brooklyn. 

State Rep. Timothy J. DeGeeter led the vote for House Bill 58, which would allow the company to be eligible for a Job Retention Tax Credit.

“The refundable job retention tax credit is an economic development tool that may be helpful to keep a great company, American Greetings, in Ohio. More importantly, it may help to keep its World Headquarters in Brooklyn, Ohio, where the company employs 2,000 people,” said Rep. DeGeeter in a press release. “It is my hope that American Greetings will remain in Brooklyn, where it has been located for almost 55 years. Over the past year, I have worked with Brooklyn Mayor Richard Balbier, the Strickland Administration, and the Ohio Department of Development on such efforts. I have also offered my assistance to the Kasich Administration.”

 American Greetings announced in early 2010 they were considering moving to another location in northeast Ohio, or to the Chicago area.

American Greetings employs over 2,000 people in Brooklyn with a local annual payroll of more than $150 million. The company currently brings in approximately $3 million in tax revenue to the city. 

The Job Retention Tax Credit that would be offered expands the existing job retention tax credit to include a new, refundable job retention credit available to businesses that meet existing program requirements and additional criteria.

The tax credit also requires a company to have received an offer of financial incentives from another state in 2010 that may induce the company to relocate, and have agreed to retain at least 1,000 employees in Ohio and to invest $25 million in capital improvements over three consecutive years.

The tax credit also limits the total of the credits to $8 million in a calendar year

The Ohio House agreed to Senate amendments to the bill. It now goes to Gov. Kasich for his signature.