Diebold Inc. has scrapped its plans to build its new world headquarters in Green, saying it was no longer economically feasible, the company said Thursday morning. The company, a maker of ATMs and security systems, said it had chosen Green as the location to build a $100 million global headquarters, despite heavy wooing from North Carolina and Virginia. The state of Ohio had given a $56 million incentive package for the project.For that $56 million package, Diebold promised to retain at least 1,500 in Ohio for eighteen years. Promises, promises. Diebold, by the way, while it was holding Ohio hostage regarding the potential to move it’s HQ, never missed a dividend payment to shareholders throughout the financial crisis and currently yields its investors nearly 4% annually. Those are signs of financial health – corporate welfare anyone? When your tax dollars are put on the line for profitable companies that don’t really need ‘a hand up,’ wouldn’t you like to know Ohio is getting a real return on its investment? Can we trust what Kasich is telling us about Ohio job creation and retention when we find out more and more of these development agreements are never signed, never carried out? While a company like Diebold takes a year to decide whether or not it will honor its agreement with Ohio, is our ability to work on a real development activity hindered because $56 million are spoken for? Stay tuned.
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