TWELVE PROJECTS EXPECTED TO INVEST $185.9 MILLION, IMPACTING 3,722 JOBS
COLUMBUS – Today Governor John R. Kasich announced the approval of assistance for 12 projects set to create 661 jobs and retain 3,061 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 $31.1 million in new payroll, and spur approximately $185.9 million in investment across Ohio.
Projects approved by the TCA include:
CENTRAL
Hirschvogel Incorporated, City of Columbus (Franklin Co.) expects to create 37 full-time positions, generating $1.3 million in additional annual payroll and retaining $14.4 million in existing payroll as a result of the company’s expansion project in the City of Columbus (Franklin Co.). Hirschvogel is an automotive supplier, focusing on steel and aluminum forging and machining. The TCA approved a 45 percent, six-year Job Creation Tax Credit for this project.
PACS Switchgear, LLC, City of Mount Vernon (Knox Co.) expects to create 30 full-time positions, generating $936,000 in additional annual payroll and retaining $1.3 million in existing payroll as a result of the company’s new project location in the City of Mount Vernon (Knox Co.). PACS Switchgear is a manufacturer of medium voltage metal clad and arc resistant switchgear products serving the steel, rail, and energy industries. The TCA approved a 40 percent, seven-year Job Creation Tax Credit for this project.
SOUTHWEST
Masters Pharmaceutical, Inc., Cities of Mason (Warren Co.) and Fairfield (Butler Co.) expects to create 100 full-time positions, generating $5.2 million in additional annual payroll and retaining $10.7 in existing payroll as a result of the company’s consolidation project in the Cities of Mason (Warren Co.) and Fairfield (Butler Co.). Masters Pharmaceutical is a wholesale distributor of pharmaceutical and medical products, specializing in pharmacy fulfillment and diabetic supplies. The TCA approved a 55 percent, seven-year Job Creation Tax Credit for this project.
Nitto Denko Avecia Inc., City of Reading (Hamilton Co.) expects to create 15 full-time positions, generating $1.1 million in additional annual payroll and retaining $4.5 million in existing payroll as a result of the company’s expansion project in the City of Reading (Hamilton Co.). Nitto Denko Avecia is a pharmaceutical contract manufacturer of active pharmaceutical ingredients. The TCA approved a 40 percent, five-year Job Creation Tax Credit for this project.
The C.M. Paula Company, City of Mason (Warren Co.) expects to create 29 full-time positions, generating $1.6 million in additional annual payroll and retaining $5.7 million in existing payroll as a result of the company’s expansion project in the City of Mason (Warren Co.). C.M. Paula is a private holding company that purchases and grows profitable business ventures. The TCA approved a 40 percent, six-year Job Creation Tax Credit for this project.
NORTHEAST
Polymer Additives, Inc., Cities of Independence and Cleveland and Village of Walton Hills (Cuyahoga Co.) expects to create 23 full-time positions, generating $2.3 million in additional annual payroll and retaining $10 million in existing payroll as a result of the company’s expansion project in the Cities of Independence and Cleveland (Cuyahoga Co.) and the Village of Walton Hills (Cuyahoga Co.). Polymer Additives provides specialty chemicals which add properties to polymers that affect their manufacturability and product performance. The TCA approved a 40 percent, six-year Job Creation Tax Credit for this project.
The Lubrizol Corporation, Painesville Township (Lake Co.) expects to create 24 full-time positions, generating $1.6 million in additional annual payroll and retaining $23.6 million in existing payroll as a result of the company’s expansion project in Painesville Township (Lake Co.). Lubrizol produces advanced specialty polymers, polymer based additives and chemical additives used in consumer and industrial applications. The TCA approved a 45 percent, seven-year Job Creation Tax Credit for this project.
WESTERN
R & L Carriers, Inc., Liberty Township (Clinton Co.) expects to create 200 full-time positions, generating $9.5 million in additional annual payroll and retaining $70.7 million in existing payroll as a result of the company’s expansion project in Liberty Township (Clinton Co.). R & L Carriers provides freight transportation and logistical services to manufacturing, distribution, and retail customers throughout the U.S. The TCA approved a 60 percent, nine-year Job Creation Tax Credit for this project.
NORTHWEST
Tiffin Metal Products Co., City of Tiffin (Seneca Co.) expects to create 18 full-time positions, generating $684,000 in additional annual payroll and retaining $4.8 million in existing payroll as a result of the company’s expansion project in the City of Tiffin (Seneca Co.). Tiffin Metal specialized in multiple fabrication metal products. The TCA approved a 35 percent, five-year Job Creation Tax Credit for this project.
Tramec Sloan, L.L.C., Cities of Galion and Bucyrus (Crawford Co.) expects to create 90 full-time positions, generating $2.1 million in additional annual payroll and retaining $4.2 million in existing payroll as a result of the company’s expansion project in the Cities of Galion and Bucyrus (Crawford Co.). Tramec Sloan manufactures brake hose assemblies and brass fittings for the tractor and trailer industries. The TCA approved a 50 percent, six-year Job Creation Tax Credit for this project.
Valfilm, LLC, City of Findlay (Hancock Co.) expects to create 80 full-time positions, generating $2.5 million in additional annual payroll and retaining $3.5 million in existing payroll as a result of the company’s acquisition project in the City of Findlay (Hancock Co.). Valfilm specializes in developing, manufacturing and marketing flexible packaging film. The TCA approved a 55 percent, eight-year Job Creation Tax Credit for this project.
LOCATION TBD
Advanced Ground Systems Engineering, LLC (Location TBD) expects to create 15 full-time positions, generating $2.3 million in additional annual payroll and retaining $208,235 in existing payroll as a result of the company’s new project at a to-be-determined location. Advanced Ground Systems Engineering develops and manufactures engine handling and ground support equipment for regional jets and wide body aircrafts. The TCA approved a 45 percent, five-year Job Creation Tax Credit for this project.
