2055 Unintended consequences--loan fund opens a can of worms

When Ohio legislators set up a Research and Development Investment Loan Fund the purpose was "to position Ohio to compete aggressively for private-sector R&D investments that will create high-wage jobs; . . . to target large investments from companies with significant assets and sales; . . . to aggressively pursue research and development operations and facilities and to fund the cost of capital purchases. Assistance from the State would be in the form of a low-interest loan, partnered with a tax credit." We Ohioans were told we'd be country bumpkins if we didn't get on the technology bandwagon.

When Donato's Pizza, a small fast food pizza chain based in Ohio (yes, high tech, high wage paying pizza) tried to get some of that R & D money last year to develop a different kind of dough for the crust, they were turned down. So Donato's hired a lobbyist (with ties to the state house) who apparently convinced our legislators that because pizza flour is made from wheat, and wheat is an agricultural product, and Ohio is heavily agricultural, and it is "food science," AND TWENTY-FIVE new jobs may be in the works if Donato's qualifies for this loan, and MAYBE (but no promises) Donato's will expand their franchise in Ohio . . .etc., etc.

"The same request by Donatos for a $2.9 million low-interest loan that lawmakers turned away in October will be back Monday before the state Controlling Board. This time, Donatos is expected to win easy approval from the legislative spending-oversight panel.

The company wants the 10-year, 2 percent loan to help pay for a $4.6 million expansion of its operations in Gahanna. The renovations and new equipment would help it develop a pizza dough that rises in one day instead of three, according to state documents." Columbus Dispatch, Jan. 20, 2005

It would seem that Ohio legislators have learned nothing from our retirement fund coin scandal, the golf ethics charges for our Republican Governor who ranks 50th out of 50, and ties to the Abramoff lobbyist fiasco.

Politics. Doesn't it just drive you crazy?