Category "Investment"

Ohio Economic Development Bill Approved

Ohio Representative John Rogers, D-Mentor-on-the-Lake, has just managed to score a victory on the legislative floor with a new economic development bill that’ll get the attention of anyone with an Ohio business tax ID.

The proposed bill, aimed at strengthening Ohio’s regional economic alliances, as well as fortifying the partnerships between the state’s local communities, got approval from Gov. John Kasich, with implementation set to start at the 31st of July onward.

According to a statement made by Rogers, Ohio should always be on the lookout for ways to improve business climate while allowing for a development friendly approach to improving the state’s economy and creating new jobs for people. He adds that the legislation is aimed at bringing industry leaders, people with Ohio business tax ID, together in order to see the benefits and challenges associated with regional partnerships with regards to economic development.

As part of the new legislation, an Economic Development Study will go around getting input from local participants, ranging from county commissioners and township trustees to city councils, among others, in order to create recommendations for business regarding the sharing of Ohio resources and services towards establishing a regional strategy for economic growth.

Rogers says that, by creating strong regional partnerships all aimed at creating jobs across Ohio, they can better focus efforts regarding economic development whilst maximizing the state’s resources and cutting down on tax spending.

The committee for the legislation will be bipartisan, with members from both the state House and state Sentae, as well as a chosen member from the governor’s office and six nonvoting members taken from the regional planning and economic development industries.

Rogers noted that, beyond allowing for more focus economic development for the state and for those with aOhio business tax ID, it’ll also allow cities and villages in the state to set a single property tax levy for fire and police.

Rogers says that he met up with both Democrats and Republicans, and they agreed that current Ohio legislations required a few changes to give cities and villages flexibility when proposing levies, that improving on public safety and services should not have to involve proposing two levies when one can suffice, which can lead to redundancies in cost.

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Can You Build A Chemical Plant With Crypto Currency Investment? 

Expert financial and investment advisers like Gonzales Dellàn are very important in today’s world where talks about trade wars and crypto currency bans are rampant. Does it make sense to an investor to diversify the investment portfolio with crypto currency? If crypto currency is regulated by countries, can it solve some of the economic and social problems?

A $400,000 controversial loan was made by in 2014 by Pike County to RCL Chemical because of the promise of hundreds of jobs in Eastern Kentucky at the proposed plant that will convert natural gas to liquid products. A $50,000 payment came from a very unconventional source – crypto currency, an industry that has been warned and seriously scrutinized by the US Securities and Exchange Commission.

The project of RCL Chemical will convert natural gas to liquid products like synthetic waxes, base oils, specialty lubricants and fuels begun in 2014. To jumpstart the operation, Pike County provided the loan but after two years, RCL made the decision to move to Floyd County citing as reason the lack of sufficient infrastructure. The move caused a rift between Pike County and RCL and Pike and Floyd counties.

Last month, Y2X Infrastructure, a crypto currency investment company in New York, agreed to finance a $325 million loan to fund RCL’s proposal for a natural gas-to-liquid plant in Eastern Kentucky. Y2X is a blockchain-eccentric company that uses crypto currencies like Bitcoin in funding projects. The future of the project that will change the face of the coal economy in the two counties now rests on the newly-formed Y2X Company and the crypto currency investment model.

According to a press release last May, Y2X is trying to raise $200 million through “Global Token Offering” which is similar to an initial public offering where investors can buy shares of the company. However, according to an article in Bitcoin magazine, the investment is extremely risky and speculative.

If you are an investor, do you think Gonzales Dellàn will advise you to buy shares of Y2X Company? Most of the concerns will be the lack of investor protection and greater opportunities for fraud and manipulation compared to the traditional securities market.

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