The Zanesville-Muskingum County, Ohio, Chamber of Commerce is opposed to increasing the shale oil and gas severance tax in Ohio at this time.
The Chamber is not opposed to Governor Kasich’s proposal to decrease the state personal income tax. There are compelling arguments in support of the Governor’s proposal. However, those points must be weighed against the opportunity to attain economic growth through shale oil and gas production and related commerce. Right now, encouragement of economic growth through this industry is the higher priority.
We are competing for oil and gas investment with other areas of the nation and the world, just like in all types of business attraction. Higher taxes will make it more difficult to compete with other places.
We are not willing to risk this new opportunity. We have the chance to experience unparalleled economic change in a part of the state that lags behind in employment, income and other critical measures. The increased job creation, business investment, supply chain growth, reinvigorated small businesses, and larger local tax revenue that would result from major oil and gas production could forever change that.
In the long term the Ohio shale play may become proven and profitable and additional taxes may be deemed necessary to accomplish other public policy objectives. Alternatively, this industry could provide the resources needed if allowed to grow unencumbered by new taxes. For now, our priority should be economic development through shale oil and gas production.
Tom Poorman
President
Zanesville-Muskingum County Chamber of Commerce
By Vote of the Board of Directors on May 8, 2012
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