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NEW BUSINESS EXPANSION COMING TO OHIO

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NEW BUSINESS EXPANSION COMING TO OHIO

Monday, 27 August 2012 17:16

James W. Wade III

gov plane $259 Million Invested into Ohio’s Communities

COLUMBUS – Gov. John R. Kasich today announced the approval of assistance for 17 projects set to create more than 1,300 jobs and retain 2,728 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals presented to the board by JobsOhio and its regional partners. Collectively the projects are expected to result in more than $45 million in new payroll and $259 million in investment across Ohio.

Projects approved by the TCA include:

GrafTech International Holdings Incorporated (Location TBD) expects to create 39 full-time positions, generating $2.1 million in additional annual payroll as a result of the company’s expansion project at a to-be-determined location. GrafTech is a global company with more than 125 years of experience in the graphite industry. The TCA approved a 40 percent, five-year Job Creation Tax Credit for this project.

Niagara Bottling, LLC (Location TBD) expects to create 73 full-time positions, generating $3 million in new annual payroll as a result of the company’s new location project at a to-be-determined location. Niagara Bottling is the largest privately-held, family-owned manufacturer of bottled water in the country. The TCA approved a 60 percent, seven-year Job Creation Tax Credit for this project.

Central Ohio

Stanley Electric U.S. Co., Inc., City of London (Madison Co.) expects to retain 605 existing employees and $29.9 million in existing payroll as a result of the company’s retention project in the City of London (Madison Co.). Stanley Electric produces automotive lighting. The TCA approved a 60 percent, 10-year Job Retention Tax Credit for this project.

Northeast Ohio

Cleveland Construction, Inc., City of Mentor (Lake Co.) expects to create 15 full-time positions, generating $780,000 in additional annual payroll and retaining $3.4 million in existing payroll as a result of the company’s expansion project in the City of Mentor (Lake Co.). Cleveland Construction specializes in general contracting, construction management, design-build and interior trades. The TCA provided a 40 percent, 10-year Job Creation Tax Credit for this project.

Fuserashi International Technology, Inc., Township of Liverpool (Medina Co.) expects to create 17 full-time positions, generating $660,000 in additional annual payroll and retaining $2.1 million in existing payroll as a result of the company’s expansion project in the Township of Liverpool (Medina Co.). Fuserashi International Technology is a manufacturer of hot and cold formed precision metal products and fasteners, which are used primarily for various vehicle applications. The TCA approved a 50 percent, eight-year Job Creation Tax Credit for this project.

IAC Huron, LLC, City of Huron (Erie Co.) expects to create 143 full-time positions, generating $4.9 million in additional annual payroll and retaining $20.9 million in existing payroll as a result of the company’s expansion project in the City of Huron (Eric Co.). IAC Huron is a global supplier of automotive interior components and systems. The TCA approved a 50 percent, six-year Job Creation Tax Credit for this project.

L&W Cleveland, Inc., City of Avon (Lorain Co.) expects to create 60 full-time positions, generating $2.1 million in additional annual payroll and retaining $2.1 in existing payroll as a result of the company’s expansion project in the City of Avon (Lorain Co.). L&W Cleveland’s primary business is automotive component stamping, welding, and assembly. The TCA approved a 45 percent, five-year Job Creation Tax Credit for this project.

Mansfield Plumbing Products, LLC, Village of Perrysville (Ashland Co.) expects to create 150 full-time positions, generating $5.2 million in additional annual payroll and retaining $18.6 million in existing payroll as a result of the company’s expansion project in the Village of Perrysville (Ashland Co.). Mansfield Plumbing produces plumbing fixtures and fittings for use in residential, commercial, and institutional markets. The TCA approved a 60 percent, eight-year Job Creation Tax Credit for this project.

The Step2 Company, LLC , Village of Perrysville (Ashland Co.) expects to create 75 full-time positions, generating $2 million in additional annual payroll and retaining $7.7 million in existing payroll as a result of the company’s expansion project in the Village of Perrysville (Ashland Co.). The Step2 Company manufactures and distributes children’s rotational molded toys, infant products, and some home and garden plastic products. The TCA approved a 45 percent, six-year Job Creation Tax Credit for this project.

The Step2 Company, LLC , City of Streetsboro (Portage Co.) expects to create 125 full-time positions, generating $3.3 million in additional annual payroll and retaining $19.5 million in existing payroll as a result of the company’s expansion project in the City of Streetsboro (Portage Co.). The Step2 Company manufactures and distributes children’s rotational molded toys, infant products, and some home and garden plastic products. The TCA approved a 45 percent, six-year Job Creation Tax Credit for this project.

Western Ohio

Crown Equipment Corporation, City of Troy (Miami Co.) expects to create 45 full-time positions, generating $2.2 million in new annual payroll as a result of the company’s new location project in the City of Troy (Miami Co.). Crown Equipment manufactures electric and gas lift trucks. The TCA approved a 50 percent, eight-year Job Creation Tax Credit for this project.

Northwestern Ohio

FedEx Freight, Inc., City of Northwood (Wood Co.) expects to create 30 full-time positions, generating $1.2 million in additional annual payroll and retaining $8 million in existing payroll as a result of the company’s expansion project in the City of Northwood (Wood Co.). FedEx Freight provides an array of freight services. The TCA approved a 40 percent, six-year Job Creation Tax Credit for this project.

Piston Automotive LLC, City of Toledo (Lucas Co.) expects to create 84 full-time positions, generating $2.2 million in new annual payroll as a result of the company’s new location in the City of Toledo (Lucas Co.). Piston Automotive specializes in the supply of chassis modules and interior trim, specialty plastic parts, and logistics services for the automotive industry. The TCA approved a 50 percent, six-year Job Creation Tax Credit for this project.

Coldwater Machine Company, LLC, Village of Coldwater (Mercer Co.) expects to create 35 full-time positions, generating $1.9 million in additional annual payroll and retaining $5.5 million in existing payroll as a result of the company’s expansion project in the Village of Coldwater (Mercer Co.). Coldwater Machine Company designs and builds machinery, and specializes in metal cutting, tooling application, machinery concepts and automated equipment. The TCA provided a 45 percent, six-year Job Creation Tax Credit for this project.

Southeastern Ohio

CGI Technologies and Solutions Inc., City of Athens (Athens Co.) expects to create 150 full-time positions, generating $6.2 million in new annual payroll as a result of the company’s new location project in in the City of Athens (Athens Co.). CGI Technologies and Solutions is an information technology and business process services provider. The TCA provided a 60 percent, six-year Job Creation Tax Credit for this project.

Fanatics, Inc., Village of Frazeysburg (Muskingum Co.) expects to create 270 full-time positions, generating $6.7 million in new annual payroll as a result of the company’s new location project in the Village of Frazeysburg (Muskingum Co.). Fanatics is an online retailer of officially licensed sports merchandise. The TCA approved a 65 percent, eight-year Job Creation Tax Credit for this project.

Geo-Tech Polymers LLC, Village of Waverly (Pike Co.) expects to create 50 full-time positions, generating $1.4 million in new annual payroll as a result of the company’s new location project in the Village of Waverly (Pike Co.). Geo-Tech Polymers specializes in recycling coated plastics used in consumer and automotive applications. The TCA approved a 40 percent, five-year Job Creation Tax Credit for this project.