Macy’s Wants Tax Credits for Creating Jobs

Retailer Macy’s wants Ohio tax credits worth $1.3 million, in return for adding 125 jobs at its corporate headquarters in downtown Cincinnati.

The Cincinnati City Council on April 8th will consider an emergency ordinance authorizing a job creation tax credit of 55% for six years, valued at almost $516,000. The state on April 6th approved the six-year tax credit, which is valued at $822,000 on the state level.

In return, Macy’s would add 175 corporate jobs downtown. However, the store chain expects to cut 50 HQ jobs as a result of consolidation.

Macy’s operates almost 850 department stores.