GM should repay $60 million in state tax credits: Ohio AG

GM should repay $60 million in state tax credits: Ohio AG
imageStock Markets8 hours ago (Jun 30, 2020 01:45PM ET)

(C) Reuters. The GM logo is seen at the General Motors plant in Sao Jose dos Campos

WASHINGTON (Reuters) – Ohio Attorney General Dave Yost said Tuesday that General Motors Co (NYSE:GM) should repay $60 million in state tax credits after it closed its Lordstown Assembly plant in March 2019.

In a brief to the Ohio Tax Credit Authority, Yost said GM in 2009 agreed to maintain operations at its northeast Ohio plant through 2028 and retain 3,700 jobs through 2040 in exchange for the credits. “We demand the money that is rightfully owed to Ohio – no more, no less,” Yost said in a statement.

GM did not immediately comment.

GM should repay $60 million in state tax credits: Ohio AG

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