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COLUMBUS, Ohio, Nov 15, 2006 -- BUSINESS WIRE
Companies are catching on that Ohio is the ideal location for the alternative energy industry. Recently, the state announced two major alternative energy initiatives that will be developed in Ohio. Rolls-Royce Fuel Cell Systems, Inc.'s U.S. headquarters will be in Canton, Ohio and will be the first occupant of the Stark State College of Technology Prototyping Center, and UltraCell Corporation of California will be moving the first high-volume fuel cell production line to Dayton, Ohio. The development of these two initiatives reinforces that Ohio is a leading location for the alternative energy industry. It also verifies that the state's business reforms, such as no tax on investments in machinery and equipment and no tax on the first $1 million in gross receipts, are important considerations for alternative energy companies looking to maximize their return on investment. Along with the business reforms, in 2005 the state renewed the Ohio Fuel Cell Initiative, which helps expand financing, research, development, demonstration and training projects in the fuel cell industry. As one of the few places where all phases of fuel cell development takes place, from research and development to component suppliers and final product manufacturing, Ohio continues to develop a supportive business environment for fuel cell companies and other alternative energy sources. Ohio recognizes that alternative energy sources are a critical investment area for economic growth. As part of the state's marketing efforts, the Ohio Business Development Coalition has targeted alternative energy as an emerging growth industry and is working to promote the state's initiatives in alternative fuels and the benefits of the recent business reforms. "It is clear executives at alternative energy companies recognize the benefits of Ohio's business environment and the strong quality of life the state has to offer," said Ed Burghard, executive director of the Ohio Business Development Coalition. "Ohio offers ideal-sized cities, affordable housing and a wide variety of cultural, recreational and educational opportunities. This allows executives and their employees to find the perfect work-life balance." About the Ohio Business Development Coalition The Ohio Business Development Coalition (OBDC) is a nonprofit organization that provides marketing strategy and implementation to support Ohio's economic development efforts. It is funded with a combination of public and private sector funds. The objective of the OBDC is to provide the Ohio Department of Development, the state's regional economic development organizations and chambers qualified leads and tools to retain and expand Ohio companies, and attract new companies to Ohio. For more information, please visit www.ohiomeansbusiness.com . SOURCE: Ohio Business Development Coalition News Provided By |
