Is there any confirmation that the new tax structure is actually resulting in a further improvement in the cost of doing business?
The new tax law is being implemented over a five-year period. But there are early important signs it is having a positive effect on the Ohio business climate. FIRST REASON TO BELIEVE – The Milken Institute, an independent third party organization, produces a Cost-of-Doing-Business Index (milkeninstitute.org). In 2007, Ohio’s overall ranking improved three places versus the last published report. SECOND REASON TO BELIEVE – Another way to assess the impact is to look at how competitive Ohio is in new job creation. Ernst & Young compiles an annual assessment of new job creation by state and reports it in The U.S. Investment Monitor publication. In 2006, Ohio ranked best in the Midwest and 4th overall nationally. Ohio accounted for 5.9% of new job growth in America. This is an index of 103 versus 2005, and 136 versus 2004, suggesting a positive impact of tax reform on job creation.
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- Is there any confirmation that the new tax structure is actually resulting in a further improvement in the cost of doing business?
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