Attorneys & Professionals
Vorys attorneys Scott Ziance and Sean Byrne were quoted in a Columbus Business First story titled “what to know about Ohio's new tax credit for 'transformational' development.” The story was about the Transformational Mixed Use Development Tax Credit included in Senate Bill 39, which signed into Ohio law by Governor DeWine in late 2020.
The story states:
“Scott Ziance, partner with Vorys Sater Seymour and Pease LLP, said on a videoconference Wednesday the tool will benefit the whole state. Ziance likened it to the chocolate chips in Graeter's ice cream – some projects will be small, others will be huge, and the tax credits probably will be spread all over.
‘You're gonna have those big chips, those big projects, with an outsized impact,’ Ziance said.”
The story also states:
“It's not clear if more uses will bring more benefit, but the end goal for the incentive is to generate economic impact and tax revenue, so a balance will be essential, said Sean Byrne, of-counsel with Vorys. Developers will need to show the development will be an economic force-multiplier.”
To read the entire story on the Columbus Business First website, click here. (Subscription may be required).