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From Home Furnishing Business
Norwalk Furniture Non-compliant with Incentives
December 26,
2013 by in Product, Upholstery 
Norwalk Furniture is one of 120 Ohio companies that received state-funded initiatives and did not meet job-creation promises.
About 55 percent of companies that received economic development assistance last year from Ohio’s taxpayer-funded initiatives did not meet the job-creation promises they made, according to an Ohio Attorney General’s report released Thursday.
Of 266 companies that received grants, tax credits and other monies, 120 did not comply with the program’s requirements, according to the report.
One of the non-compliant businesses: Norwalk Furniture.
State attorneys found Norwalk Furniture had committed to creating 260 jobs by the end of 2012, in exchange for a 55 percent, six-year tax credit.
The company added only 145 jobs. As a result, the Ohio Tax Credit Authority decided to reduce the tax credit to 50 percent for tax year 2014, the final year of the credit. The agency also forgave Norwalk Furniture from having to create the additional 115 jobs.
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Source: Sandusky Register