New Projects Expected to Create More Than
$318.4 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 767 new jobs and retain 2,032 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 $68 million in new payroll and spur more than $318.4 million in investments across Ohio.
Projects approved by the TCA include:
NORTHEAST
DRB Systems LLC, city of Green (Summit County), expects to create 83 full-time positions, generating $5.1 million in new annual payroll and retaining $18.4 million in existing payroll, as a result of the company?s expansion project in Green. DRB Systems designs and develops point-of-sale software and corresponding kiosks for car washes. The TCA approved a 1.469%, eight-year Job Creation Tax Credit for this project.
Parker Hannifin Corporation (Parker), city of Mentor (Lake County), expects to create 60 full-time positions, generating $4.6 million in new annual payroll and retaining $14.8 million in existing payroll, as a result of the company?s expansion project in Mentor. Parker's Gas Turbine Fuel Systems (GTFS) Division works jointly with customers to achieve competitive advantages from concept to lifetime support. Its advanced nozzle tech has taken GTFS to the heart of the most powerful gas turbine engine in the world. The TCA approved a 1.549%, eight-year Job Creation Tax Credit for this project.
NORTHWEST
IMCO Carbide Tool Inc., Perrysburg Township (Wood County), expects to create 92 full-time positions, generating $4.7 million in new annual payroll and retaining $5.4 million in existing payroll, as a result of the company?s expansion project in Perrysburg Township. IMCO Carbide Tool is a renowned manufacturer of high-performance carbide cutting tools, such as drills, end mills, and reamers. The company provides a variety of applications in the aerospace, automotive, medical, petrochemical, and manufacturing industries. The TCA approved a 1.341%, nine-year Job Creation Tax Credit for this project.
SOUTHEAST
General Mills Operations LLC, city of Wellston (Jackson County), expects to create 30 full-time positions, generating $1.5 million in new annual payroll and retaining $49.3 million in existing payroll, as a result of the company?s expansion project in Wellston. General Mills has 52 locations worldwide, including 16 locations in the U.S. The Wellston plant is the sole source of pizza rolls and Totino's pizzas. The pizza and snack divisions are driving company's growth. The TCA approved a 1.097%, six-year Job Creation Tax Credit for this project.
SOUTHWEST
Cold Jet LLC, Miami Township (Clermont County), expects to create 67 full-time positions, generating $5 million in new annual payroll and retaining $12.2 million in existing payroll, as a result of the company?s expansion project in Miami Township. Cold Jet is the world leader in dry ice blasting, dry ice production technology, and developing superior dry ice blast cleaning systems. The TCA approved a 1.567%, eight-year Job Creation Tax Credit for this project.
CENTRAL
Cologix Inc., city of Columbus (Franklin County), expects to create 15 full-time positions, generating $1.5 million in new payroll and retaining $1.9 million in existing payroll, as a result of the company?s expansion project in Columbus. Cologix provides reliable, secure, scalable data center and interconnection solutions from 24 prime interconnection locations across nine strategic North American edge markets. The TCA approved a 75%, 10-year Data Center Sales Tax Exemption for this project.
Link Real Estate Group (LINK), city of Columbus (Franklin County), expects to create 40 full-time positions, generating $2.8 million in new annual payroll and retaining $2.1 million in existing payroll, as a result of the company?s expansion project in Columbus. LINK is a real estate management firm, specializing in multifamily real estate development, construction, acquisition, and management. The TCA approved a 1.370%, seven-year Job Creation Tax Credit for this project.
Ultimate Solutions USA LLC, city of Gahanna (Franklin County), expects to create 30 full-time positions, generating $4.05 million in new annual payroll, as a result of the company?s expansion project in Gahanna. Ultimate Solutions is a global leader in validation, serialization, industrial automation, and compliance for the life sciences industries (pharmaceutical, biotechnology, medical device, and logistics markets) in Puerto Rico, Europe, and the United States. The TCA approved a 1.639%, eight-year Job Creation Tax Credit for this project.
Advanced Drainage Systems Inc., city of Hilliard (Franklin County), expects to create 200 full-time positions, generating $20 million in new annual payroll and retaining $89.48 million in existing payroll, as a result of the company?s expansion project in Hilliard. Advanced Drainage Systems is a leading manufacturer of high-performance thermoplastic corrugated pipe for water management, corrugated pipe, fittings, filters, and other allied products. The TCA approved a 2.200%, 10-year Job Creation Tax Credit for this project.
TBD
Western Alliance Bank, location TBD, expects to create 150 full-time positions, generating $18.75 million in new annual payroll, as a result of the company?s new location project. Western Alliance Bank operates individual, full-service banking brands and has offices in key markets nationwide. The TCA approved a 2.300%, nine-year Job Creation Tax Credit for this project.
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