Rep. Angie King introduces Ohio Business Investment Act

State Representative Angie King of Celina has introduced legislation intended to prevent companies connected to foreign adversaries from receiving financial assistance from the State of Ohio.

The proposed Ohio Business Investment Act would prohibit companies owned or controlled by a Foreign Country of Concern from receiving state tax credits, grants, loans, economic-development incentives or other forms of state financial assistance.

“Ohio taxpayers should not be required to subsidize companies tied to foreign adversaries,” King said. “State economic development programs should support businesses that invest in Ohio, create jobs for Ohio workers, and strengthen America’s economic and national security.”

King said the legislation is modeled after similar laws enacted in Florida, Texas and Indiana. The proposal is intended to ensure taxpayer-funded incentives support domestic investment rather than companies connected to strategic competitors of the United States.

Supporters say the legislation would prioritize Ohio and American businesses, encourage the creation of good-paying jobs and keep taxpayer dollars invested in the state’s economy.

The bill is awaiting a number and committee assignment in the Ohio House.