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Ohio approves economic projects to expand businesses, create new jobs

by NBC 24 Staff - 12/07/2021
 
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COLUMBUS, Ohio ‚ÄĒ Gov. Mike DeWine and Lt. Gov. Jon Husted announced Monday that 10 business projects have been approved by the Ohio Tax Credit Authority.

These development efforts proposed by JobsOhio will create 946 new jobs and retain 2,485 jobs statewide including $50 million in new payroll and over $296 million in investments.

A press release from the governor's office specified the following plans:

Whirlpool Corporation, village of Ottawa (Putnam County), 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%, seven-year Job Creation Tax Credit for this project.
R+L Carriers Inc., city of Findlay (Hancock County), 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%, eight-year Job Creation Tax Credit for this project.

LG Chem America Inc., city of Ravenna (Portage County), 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%, eight-year Job Creation Tax Credit for this project.

Cohen & Company Ltd., cities of Cleveland, Youngstown, Akron (Cuyahoga, Mahoning, Summit counties), 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%, six-year Job Creation Tax Credit for this project.

Stridas LLC, Anderson Township (Hamilton County), 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%, seven-year Job Creation Tax Credit for this project.
ThyssenKrupp Bilstein of America, city of Hamilton (Butler County), 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%, eight-year Job Creation Tax Credit for this project.

Vinylmax, city of Hamilton (Butler County), 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%, seven-year Job Creation Tax Credit for this project.

Herr Foods Incorporated, cities of Jackson and Chillicothe (Jackson, Ross counties), 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%, seven-year Job Creation Tax Credit for this project.

ADB Safegate Americas LLC, city of Gahanna (Franklin County), 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%, seven-year Job Creation Tax Credit for this project.

Interstate Gas Supply Inc. (IGS Energy), city of Dublin (Franklin County), 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%, seven-year Job Creation Tax Credit for this project.
 
More Details: https://nbc24.com/news/local/ohio-approves-economic-projects-to-expand-businesses-create-new-jobs
 
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