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RTI Metals Supports Taft's Tax Reform Plan
NILES, Ohio -- Officials at RTI International Metals Inc. today announced their support of a tax reform plan put forth by Ohio Gov. Bob Taft that is designed to encourage investment in Ohio manufacturing. Taft's initiative would phase out business taxes that discourage investment and put Ohio companies at a competitive disadvantage, according to Timothy G. Rupert, RTI president and chief executive officer. Franchise and personal property taxes, both of which would be phased out, penalize companies for having assets in Ohio, which in turn discourages job growth in the state, he said. Lost revenues under the plan would be replaced through a new gross receipts tax, designed to promote export of Ohio goods and services and an increase to the tax on the consumption of electricity. "The Governor's tax reform plan is good for Ohio manufacturers and for the jobs they create," Rupert emphasized. "This is especially true for companies like RTI that find themselves in industries that require large capital investments, but provide cyclical returns. We applaud the Governor's initiative and urge the Ohio House and Senate to implement these changes as soon as possible." RTI International Metals is one of the world's largest producers of titanium. Through its various subsidiaries, RTI manufactures and distributes titanium and specialty metal mill products, extruded shapes, formed parts and engineered systems for aerospace, industrial, defense, energy, chemical and consumer applications for customers around the world.Visit RTI International Metals Inc.:www.rtiintl.com "