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Article #1199

Tax Abatements

#1199
From: stlwkr
Date: Sat, 14 Sep 1996 00:00
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Did you know that the tax payers of Cleveland helped LTV Steel with a tax 
abatement at the time of their bankruptcy? Their employees also helped by 
giving huge concessions.

Cleveland Teachers are now asked for huge concessions and some schools 
are being shut down. Could the reason be that the people of Cleveland 
have been to good to companies like LTV, by giving them BIG TAX BREAKS?

Did you know that LTV Steel is now investing $250 million in building a 
new mini mill (along with British Steel $100 million and Sumitomo $100 
million) in the state of Alabama called TRICO? 

TRICO will produce 2.2 million tons of steel a year. The effects of the 
new mini mill will eventually steal the jobs from our communities. 
The same communities that cared enough about LTV and the employees who 
stuck by them when they were in dire need of help.

LTV should be paying back the tax abatement ($80 million) and 
re-investing at their existing facilities so we can compete with foreign 
steel companies, instead of making them partners.

Contact the Mayor and City Council, let them know that LTV should invest 
their profits in the Communities that CARED!
They can re-invest right here in Cleveland,
 THE BEST LOCATION IN THE NATION
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From: stlwkr <stlwkr@en.com>
Subject: Tax Abatements
Date: 1996/09/14
Message-ID: <323AE813.422@en.com>
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