Here's more of what our friends in Columbus have given us.

A $1.25 million state grant is luring a Pennsylvania fuel cell company to Ohio, the state Development Department said Friday.

HydroGen Corp. (OTC:HYDG) promised to move its headquarters to Ohio from Jefferson Hills, near Pittsburgh. The Development Department said HydroGen will use the grant to help fund a 400-kilowatt fuel cell demonstration project somewhere in the state.

So, Ohio is the highest bidder this time. Thump your chest. But wait 'til we run up against a state with a bigger pocketbook. I imagine that outcome won't be as positive.

But I'm struck by this statement from the article:

HydroGen reported a loss of $2.5 million and no revenue in the first six months of 2005, according to documents filed with the Securities and Exchange Commission. It was established in 2001.

So let's see. We gave a company that lost $2.5 million and generated no revenue in the first half of the year, $1.25 million of taxpayer's money to come to Ohio. Maybe it's me, but if their business is in such poor condition that they need money from us, what's the liklihood that they'll be able to provide a stable source of revenue and job security to whatever locality they choose to call home?

This really is the epitome of corporate welfare. Shop your failing business around until you find a state that will bail you out. Genius. Sorry if I upset some of my Republican friends, but if this is your idea of good economics, no wonder we're in so much trouble.

Vote for the "Jobs For Ohio" issue on the ballot, and I expect you'll see lots more of this kind of thing.