New Projects Expected to Create
More Than $296 Million in Investments
(COLUMBUS, Ohio)?Ohio Governor Mike DeWine and Lt. Governor Jon Husted today announced the approval of assistance for 10 projects set to create 946 new jobs and retain 2,485 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $50 million in new payroll and spur more than $296 million in investments across Ohio.
Projects approved by the TCA include:
NORTHWEST
Whirlpool Corporation, village of Ottawa (Putnam Co.), expects to create 100 full-time positions, generating $3.7 million in new annual payroll and retaining $23.5 million in existing payroll as a result of the company?s expansion project in Ottawa. Whirlpool manufactures and markets home appliances. The TCA approved a 1.118 percent, seven-year Job Creation Tax Credit for this project.
R&L Carriers Inc., city of Findlay (Hancock Co.), expects to create 199 full-time positions, generating $9.9 million in new annual payroll as a result of the company?s new project in Findlay. R&L Carriers is a family-owned freight shipping company. The TCA approved a 1.567 percent, eight-year Job Creation Tax Credit for this project.
NORTHEAST
LG Chem America Inc., city of Ravenna (Portage Co.), expects to create 72 full-time positions, generating $4.7 million in new annual payroll as a result of the company?s new project in Ravenna. LG Chem is a division of LG focused on producing ABS, a highly functional heat- and impact-resistant compound used for a variety of applications from toys to household appliances and automotive parts. The TCA approved a 1.594 percent, eight-year Job Creation Tax Credit for this project.
Cohen & Company LTD, cities of Cleveland, Youngstown, Akron (Cuyahoga, Mahoning, Summit Cos.), expects to create 61 full-time positions, generating $6.5 million in new annual payroll and retaining $24.9 million in existing payroll as a result of the company?s expansion project in Cleveland, Youngstown and Akron. Cohen & Company provides assurance, tax, and advisory services. The TCA approved a 1.536 percent, six-year Job Creation Tax Credit for this project.
SOUTHWEST
Stridas LLC, Anderson Township (Hamilton Co.), expects to create 40 full-time positions, generating $2.4 million in new annual payroll and retaining $2.5 million in existing payroll as a result of the company?s expansion project in Anderson Township. Stridas provides third-party transportation management and freight brokerage services. The TCA approved a 1.319 percent, seven-year Job Creation Tax Credit for this project.
ThyssenKrupp Bilstein of America, city of Hamilton (Butler Co.), expects to create 75 full-time positions, generating $6 million in new annual payroll and retaining $36 million in existing payroll as a result of the company?s expansion project in Hamilton. ThyssenKrupp Bilstein produces automobile shock absorbers for original equipment, after market, and special purpose vehicles. The TCA approved a 1.644 percent, eight-year Job Creation Tax Credit for this project.
Vinylmax, city of Hamilton (Butler Co.), expects to create 150 full-time positions, generating $5.6 million in new annual payroll and retaining $8.8 million in existing payroll as a result of the company?s expansion project in Hamilton. Vinylmax manufactures custom new and replacement wood and vinyl windows and doors for the residential industry. The TCA approved a 1.255 percent, seven-year Job Creation Tax Credit for this project.
SOUTHEAST
Herr Foods Incorporated, cities of Jackson and Chillicothe (Jackson, Ross Cos.), expects to create 150 full-time positions, generating $5.3 million in new annual payroll and retaining $2.2 million in existing payroll as a result of the company?s expansion project in Jackson and Chillicothe. Herr Foods is an American brand of potato chips and other snack foods. The TCA approved a 1.192 percent, seven-year Job Creation Tax Credit for this project.
CENTRAL
ADB Safegate Americas LLC, city of Gahanna (Franklin Co.), expects to create 24 full-time positions, generating $2.2 million in new annual payroll and retaining $12.3 million in existing payroll as a result of the company?s expansion project in Gahanna. ADB Safegate provides integrated solutions to support airport development and optimize operational procedures. The TCA approved a 1.480 percent, seven-year Job Creation Tax Credit for this project.
Interstate Gas Supply Inc. (IGS Energy), city of Dublin (Franklin Co.), expects to create 75 full-time positions, generating $3.9 million in new annual payroll and retaining $66.3 million in existing payroll as a result of the company?s expansion project in Dublin. IGS Energy is a retail natural gas and electric supplier servicing residential and commercial customers. The TCA approved a 1.343 percent, seven-year Job Creation Tax Credit for this project.
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