Business & Economy

Ohio Statehouse
KAREN KASLER / Ohio Public Radio

Cities across the state impose a tax on the profits earned by local businesses. This accounts for about 14 percent of total municipal tax collections - funds that cities rely on heavily to pay for everything from police to garbage collection.

Mandie Trimble / WOSU

Changes to Ohio's concealed carry law take effect Tuesday. That means more places - like daycares, government building and universities - have the option to allow people to carry a concealed firearm in public. But advocates on both sides aren't thrilled.

Mike Seyfang/Flickr

Amazon has claimed a piece of prime Columbus real estate, releasing a proposal this week to open an Amazon Campus bookstore in the University District.

Flickr

Many businesses around the state could soon be getting a big rebate from the Ohio Bureau of Workers’ Compensation.

"Gender equality benefits all of us," Iceland's Prime Minister Bjarni Benediktsson said on International Women's Day, as his government works on a law to require companies to show they pay men and women the same salary for the same work.

Benediktsson discussed the plan in New York, where he attended an International Women's Day summit and other meetings this week.

The City of Youngstown could soon add a business incubator on its south side, made up entirely of shipping containers.

The project would convert the containers into small store fronts for entrepreneurs who may not be able to get financing to start a business, or who don’t have enough start-up capital to invest in a traditional building.

The city is studying the cost of the project as well as how to connect the containers to utilities.

When he addresses a joint session of Congress Tuesday night, President Trump is expected to outline some of his plans for rebuilding the nation's crumbling infrastructure.

And he will likely reiterate his commitment to "buy American and hire American," as he repeated often during the campaign and since taking office last month.

But what exactly does that mean for state departments of transportation and the contractors who build transportation projects?

Hotels along the I-77 corridor between Akron and Canton have been feeling the downturn in the oil and gas industry. In the last few years, more than a dozen hotels opened in that area, mainly to serve that industry’s boom in eastern Ohio and western Pennsylvania. Now, there are too many rooms and not enough customers.

STR Global, a company that tracks the hotel industry, says between 2014 and last year, hotel occupancy in the Akron area dropped about 6 percent.  In Canton, the drop was about the same.

Jim Renacci

Ohio businesses remain pretty divided over a Republican-proposed reform known as the Border Adjustment Tax, according to Congressman Jim Renacci.

What's in a name? A lot, according to a new study from researchers at Ryerson University and the University of Toronto, both in Canada.

In cities around America, thousands of construction companies, restaurants and other businesses are bracing for "A Day Without Immigrants," a combination boycott/strike that highlights the contributions of immigrants to U.S. business and culture.

Steve Brown

Chris Kowalski has had a rough go of it lately.

The owner and operator of Jack's Downtown Diner lost his wife to cancer in 2015. He closed the diner later that year, and when he reopened in 2016, the normally-quaint Lynn Street was a full-blown construction site.

Lancaster, Ohio, the home of the Fortune 500 company Anchor Hocking, was once a bustling center of industry and employment. At its peak following World War II, Lancaster's hometown company was the world's largest maker of glassware and employed more than 5,000 town residents.

Though Anchor Hocking remains in Lancaster today, it is a shell of its former self, and the once thriving town is beset by underemployment and drug abuse. Lancaster native Brian Alexander chronicles the rise and fall of his hometown in his new book, Glass House.

President Trump signed two directives on Friday, ordering a review of financial industry regulations known as Dodd-Frank and halting implementation of a rule that requires financial advisers to act in the best interests of their clients, according to a senior administration official who briefed reporters on condition of anonymity.

Trump himself made his intentions clear in a meeting with small business owners Monday. "Dodd-Frank is a disaster," Trump said. "We're going to be doing a big number on Dodd-Frank."

Updated at 1:30 p.m. ET

The U.S. added 227,000 jobs in January and the unemployment rate rose just slightly, ticking up a tenth of a percentage point to 4.8 percent, according to the monthly report released Friday by the Bureau of Labor Statistics.

The robust jobs number beat most predictions from economists, who had pegged the payroll increase at 175,000, according to NPR's Yuki Noguchi.

Since taking office, President Trump has stepped away from running his business empire. But in Florida, a federal judge has handed a legal defeat to the organization that bears his name. He ruled that Trump National Jupiter Golf Club must refund members nearly $6 million.

It's a case that began in 2012 when Trump bought the struggling golf club from Marriott Vacations Worldwide. He paid just $5 million, a bargain price. But as part of the deal, he had to assume some $50 million in debt, money owed to members who put down refundable deposits and now wanted out of the club.

SalFalko / Flickr

A judge has blocked an Ohio law that would have barred local hiring regulations for public projects, such as Cleveland's requirement that city residents get to work on certain projects.

Debbie Holmes

Columbus city officials plan to invest more than $20 million into Hamilton Road on Columbus’s southeast side.  The project aims to boost business investments and rejuvenate a long-overlooked commercial area between I-70 and Refugee Road.

One consequence of Republican gains in the 2016 elections is playing out at the state level where organized labor appears likely to face big setbacks in the coming months.

Within days of convening this month, Kentucky lawmakers passed "right-to-work" legislation that prohibit labor unions from forcing non-union members to pay fees to the union.

It's the 27th state with such laws. State legislatures in Missouri and New Hampshire are also actively debating similar bills that could become law by February.

Leaders of several American companies have announced plans to hire, house or otherwise support people affected by President Trump's sweeping freeze on people seeking asylum in the U.S. or traveling from seven largely Muslim countries.

NPR's Carrie Johnson breaks down the president's executive order on immigration here.

Ohio Union Membership Grew Slightly In 2016

Jan 30, 2017
Labor Union Hall
Djembayz / Wikimedia Commons

More Ohio workers opted to join unions last year – bucking a national trend that showed membership falling.

According to a report from the U.S. Bureau of Labor Statistics, union membership in Ohio rose to 12.4 percent last year: about 617,000 workers.

As the toll of the opioid epidemic grows, scores of doctors have lost their licenses and some have gone to prison. Pharmacies are being sued and shuttered. Pharmaceutical manufacturers are under investigation and face new rules from regulators.

But penalties against companies that serve as middlemen between drug companies and pharmacies have been relatively scarce — until recently.

WikiMedia

One of the newer additions to the Columbus skyline is being acquired by a San Francisco corporation for $1.1 billion. 

As the Trump administration is expected to overhaul America's immigration system, some policymakers suggest looking north to Canada.

That's because Canadians see immigration as critical to their economic success. The nation has invited in so many immigrants that today, one-fifth of the population is foreign-born.

Yet Canadians don't seem to wrestle with anti-immigrant nativism that has erupted in the U.S. and Europe.

Canadian Pacific/Flickr

Bob Evans, a Central Ohio mainstay known for its "down on the farm" offerings, announced this week  it's selling all of its restaurants to a California-based private equity firm. One analyst says he's not surprised.

The Dow Jones industrial average cruised past another milestone Wednesday — the 20,000 level, further evidence of the long bull market that has lifted share prices since the depths of the financial crisis.

The index closed at a record 20,068. Since the November elections, the Dow and the broader S&P 500 are up 9.5 percent and 7.4 percent, respectively.

Additive manufacturing — commonly called 3D printing — is a fast-growing technology in northeast Ohio.  And Tuesday it got bigger, literally. 

“Sixteen tons and what you get?”  A 22-foot long high-tech machine that creates sophisticated sand-casting molds for complex metal parts.   

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