New Ohio tax credit

New Ohio tax credit

columbus

The Ohio Department of Development has launched a new tax-credit program to help finance business investments. The Ohio New Markets Tax Credit program will provide a 39 percent state tax credit over seven years for qualified investments in low-income community business.

The program aims to leverage the Federal New Markets Tax Credit program to attract additional investment to Ohio. The federal program awarded more than $1 billion to community-development organizations in Ohio.

The state has allocated $10 million in tax credits for the first round of funding. Only Ohio community- development entities that already have received a tax credit from the federal program are eligible. Applications for the state tax-credit program are due Sept. 20.

US investigates Grand Cherokees

WASHINGTON

U.S. safety officials are investigating whether gas tanks on Jeep Grand Cherokees can cause fires in rear-end crashes or rollovers.

The preliminary investigation, begun Monday by the National Highway Traffic Safety Administration, is the first step in determining whether a recall of the popular Chrysler SUV is necessary. The investigation covers 3 million Grand Cherokees from model years 1993 to 2004.

Advocacy group Center for Auto Safety has asked NHTSA to review whether the gas tank’s position below the rear bumper and behind the rear axle could cause fuel to spill if the SUV were struck from behind. In rollovers, a lack of proper shielding for the plastic tank could cause it to puncture, the group said. The neck of the fuel tank also could tear off.

Chrysler spokesman Michael Palese said the company is cooperating with the government investigation and that the Grand Cherokee has an excellent safety record.

Cedar Fair adds new ride at 4 parks

SANDUSKY, Ohio

Amusement-park operator Cedar Fair will be hitting new heights with new rides next year at its parks in Ohio, California and Canada.

Ohio parks Cedar Point in Sandusky and Kings Island near Cincinnati will be getting the WindSeeker ride that will spin thrill seekers 300 feet above the ground at speeds reaching 30 mph.

The company also announced Tuesday that Canada’s Wonderland near Toronto and Knott’s Berry Farm outside Los Angeles will be getting the Wind-Seeker ride.

Riders will sit in two- person swings that will flare out at close to a 45-degree angle from the center tower.

The rides cost $5 million each.

Vindicator staff/wire reports