The Place To Be
• The Cost of Living in Steubenville/Jefferson County ranks below the national
average. With 100 being the national average, Steubenville / Weirton rates at 96.3.
Pittsburgh is 109.5.
Source: www.bestplaces.net
• Taxes are lower here. In a detailed analysis performed by D'Anniballe & Company,
Certified Public Accountants and Business Advisors (www.danniballecpas.com),
the Jefferson County Industrial Park, the City of Pittsburgh, and the Village
of Beech Bottom in the northern panhandle of West Virginia were compared
according to tax burden for a hypothetical company. The hypothetical distribution
company, a C-Corporation, owned a $1.5-million building with $2 million worth
of equipment and an average inventory of $600,000. Gross receipts totaled
$8 million. Gross profit equaled $2 million. Net income was $300,000. Payroll
was $1 million for 40 employees. Using the inputs above, D'Anniballe calculated
state corporate income taxes, real estate taxes, personal property taxes,
local income taxes, unemployment compensation premiums and workers compensation
premiums. The analysis revealed the following results:
| Hypothetical State and Local Tax Burden |
Location
Jefferson County Industrial Park, OH
City of Pittsburgh, PA
Village of Beech Bottom, WV |
Total Annual Taxes
$112,830
$166,011
$150,357 |
Increase
47%
33% |
To see a breakdown of how these taxes were calculated, please click to the
links below:
Assumptions
Jefferson County (Island Creek Township), Ohio taxes
City of Pittsburgh, Allegheny County, Pennsylvania taxes
Village of Beech Bottom, Brooke County, West Virginia Taxes
Summary of Comparative Business Taxes
• As of July 2005, taxes in Ohio are going even lower. Personal
property taxes and the corporate franchise tax are being phased out. Manufacturing
and distribution companies will find much to like about Ohio's tax reforms.
• Jefferson County is home to two coal-fired power plants, which are both supplied
by abundant coal in the region. This means inexpensive power. American Electric
Power (AEP), the largest investor-owned utility in the country, supplies power to
much of Jefferson County. Compare rates below.
Average Industrial Electricity Cost Comparison:
USA
AEP-Ohio Power (serving Steubenville)
Ohio
Pennsylvania
West Virginia
|
5.21 cents/kwh
3.62 cents/kwh
3.71 cents/kwh
6.11 cents/kwh
3.83 cents/kwh
|
Source: Edison Electric Institute, Winter 2004
• Since 1995, Ohio has been steadily reforming its workers compensation system. On
average, Ohio workers compensation premiums are now 32% lower than in 1995. Over $5 billion in rebates have been returned to employers. Companies can
save even more money by enrolling through a Group Rating Program and the
Drug Free Workplace program.
|