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Cedar Fair, L.P. Message Board

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  • bidupbid bidupbid Oct 31, 2005 11:39 AM Flag

    Surprised...

    The economy is the worst I have seen it here in Ohio...so many out of work or working in lower wage jobs just to have a job. I heard that unionized construction unemployment is pushing 30% around here.

    What is going to bring Ohio back? That is the question...I just don't see much of a future right now economically around here...Thoughts?

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    • I don't know enough about Ohio's specific problems, but I've heard many theories of what's in store for Michigan, where about 50% of Cedar Point's business originates.

      An economist I talked to predicts that Michigan will hit bottom in 2 to 5 years. Some of the things he recommends (and which a Global Economics class I recently took also recommends) are things Michigan is unlikely to do. These two independent sources think that taxes need to be cut in order to encourage more businesses and residents to move into the state, rather than leaving the state. Meanwhile, Michigan keeps increasing "fees," which is the equivalent of tax increases. Also, to avoid going deeper into debt, state spending needs to be cut. Not a popular thing to do, and politicians generally hate to cut spending.

      Michigan is the least popular choice of the continental U.S. for manufacturing. The reason is because of something that is unlikely to change anytime soon: Michigan is a closed-shop state. The state could probably bring in more jobs if it became a right-to-work state.

      Additionally, Michigan is highly dependent on one industry. Most of the people in the state make their livings, either directly or indirectly, on the auto industry. The state desperately needs more diversity. But, with the tax situation and the closed-shop condition, Michigan has a tough time convincing new companies to move in.

      These conditions are far from affecting just the blue collar workers. I've got two degrees in electrical engineering, and the auto industry situations definitely impact me. With the Delphi troubles, I've seen a couple of coworkers who were recently released to save expenses. My company has already taken quite a few hits due to other corporate bankruptcies, and many layoffs resulted, even in areas which were not directly affected by the bankruptcies, just to counter the losses from uncollectable debts.

      Since Michigan and Ohio have a lot of similarities, I suspect many of the same situations are true for Ohio, but I can't say for certain.

      • 1 Reply to ol_harpo
      • Ol_Harpo the two things you mentioned go hand in hand here in AZ it has always been a right-to-work state,But the econemy really took off in the early 90's when the legistaure gave tax cuts to both presonal and busness and the state has not looked back. The cities here don't fight to bring in new busness just which city will get the new company Google being the latest

        Sir Draw

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