Last February John Kasich appeared at JPMorgan Chase’s Polaris Campus to announce big upcoming expansion plans for the financial company, which has strong ties to Kasich, the Ohio Republican Party and JobsOhio.   Despite a lot of hoopla, handshaking and bell ringing on behalf of Kasich and his team at JobsOhio, things, as usual, didn’t go nearly as well as they had planned.

JobsOhio and the Kasich Administration officially and proudly announced job creation tax credits for JPMorgan’s planned expansion on May 21st, 2013.  In exchange for these tax credits, JPMorgan was promising to create 500 new jobs.  A Dispatch article about the announcement still appears on John Kasich’s official Governor’s Office website.

By August, things began falling apart as JPMorgan Chase announced it would be cutting 300 jobs in the Columbus area.  In September, the company announced another 440 layoffs in Central Ohio.  Earlier this week, they announced another 136 jobs would be cut.

That’s 876 jobs lost at JPMorgan Chase since the Kasich administration and JobsOhio helped push through job creation tax credits for the company.

This story is becoming all too familiar.   Remember when John Kasich and JobsOhio gave American Greetings a $90 million incentive deal?  And that $56 Million incentive package for Diebold?  And then both companies went on to layoff thousands of Ohioans?

Kasich and JobsOhio asked us to trust them.  They said they needed to shield JobsOhio from public scrutiny.  They said JobsOhio needed billions in pubic money.  And in return, we were going to get the Ohio Miracle!  Jobs for everyone and a flourishing economy and a plump, free-range, organic-fed, magical chicken in every pot!

Instead, Ohio currently ranks almost last for job creation compared to other states over the past year.  And our unemployment rate has continued to rise, staying above the national average for months.

Interestingly, just like American Greetings and Diebold, JPMorgan Chase has direct financial ties to Ohio Republicans, John Kasich and JobsOhio.

In 2012, JPMorgan Chase’s PAC gave $83,000 to the Ohio Republican Party.  On May 10th, 2013, just days before the tax credits were announced, they gave another $5,000 to the ORP.  In July, they gave $12,000 to Kasich’s campaign.

Also interesting: JPMorgan Chase was one of two financial companies awarded the contract to handle the $1.5 billion liquor bond deal for JobsOhio.   And while JobsOhio has officially refused to name which companies provided it with nearly $7 Million in private donations, some have suggested that JPMorgan Chase, a company that has donated to similar organizations in other states, may be on that list.

 

John Kasich came into office promising a New Day for Ohio, a fantastic economic turnaround and a robust job market.   And he promised his signature program, JobsOhio, was going to provide us all this and more.   Instead, we have a big black box that takes in pubic money, churns out bad deal after bad deal for Ohioans, all while our unemployment rate shoots up and our job growth stagnates.

The only ones who seem to be benefiting from JobsOhio and its secretive dealing are John Kasich, the Ohio Republican Party and big companies like JPMorgan Chase.

For the rest of us Ohioans, the JobsOhio experiment has been a complete and dismal failure.

 

Evangelize!
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  • Red Rover

    Hmm.. so we elected a bankster governor, and he gives money to other banksters? Inconceivable!

  • Scott Pullins

    I worked at JPMorgan Chase for 2 years and much of it was an awful experience. The customers were great, my coworkers were great. Management and up was awful. Those people they are cutting are people that work to help consumers in foreclosure, get modifications etc. The company’s belief is that they paid all these settlements and we’re done now, so please go away and bother someone else.

  • dman

    This fact should be in every other ad for Fitzgerald.

  • carrieee4

    The minute Chase who held my nice home loan with an interest rate of 6.75 found out I was refinancing and not with them for a lower rate they dumped my loan to an odd ball place. I mean as soon as they were notified about the refinancing I was notified my loan was sold. That other place had my loan for one payment What was the reason for selling it while they were still making that large amount of interest off of it? You know if I was not refinancing it they would never have gotten rid of a loan with that large of interest rate and for the amount that we still owed. I will only work with local places as soon as I can. Truth be told I am working on being debt free in the next 9 years.

  • dmoore2222

    The long reach of the Democrats’ failure to show up at the polls in 2010. This is what they didn’t vote for. And yes, Fitzgerald would be a total fool not to rail about this political slush fund at every opportunity.

  • RobertRhoades

    Since the debacle of Issue 2, I have this picture in my head of Kasich sitting at his desk and 2 of his idiot, never had a real job, advisers running in saying things like, Hey Boss, lets give JPMorgan Chase a tax break! They’re going to create jobs! You would think after all that has happened since Issue 2, he’d wake up and think for himself. Maybe that’s not a good idea either!

  • http://plunderbund.com Joseph

    Approval

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