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State Clawing Back Millions In Tax Breaks From GM

Sep 29, 2020

Credit chicagotribune.com

General Motors will have to return 28 million dollars in state tax credits after closing the Lordstown plant last year. 

The company must also invest 12 million dollars into the Mahoning Valley. The Ohio Tax Credit Authority Monday approved a recommendation by the Ohio Development Services Agency to have GM repay the money.  GM received 60 million dollars in tax breaks after committing to retaining 37 hundred plant workersthrough 2028.