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Ohio Tax Credit Authority Approves Funding For Business Expansion Throughout The State

06/28/2016
Nine business expansion projects, approved by the Ohio Tax Credit Authority, are expected to spark more than $130 million in total investment throughout the Buckeye State.

According to Governor John R. Kasich’s Office, the latest projects are expected to create 655 new jobs and retain 1,108 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority reviewed economic development proposals brought to the board by JobsOhio and its regional partners.

Projects approved by the TCA include:

Dana Light Axle Manufacturing, in Toledo and Lucas County, expects to create 300 full-time positions, generating $11.5 million in new annual payroll as a result of the company’s new location. Dana is a global provider of technology, driveline, sealing and thermal-management products for vehicle manufacturers. The TCA approved a 1.582 percent, seven-year Job Creation Tax Credit for this project.

The Procter & Gamble Manufacturing Company, in Bath Township and Allen County, expects to create 51 full-time positions, generating $2.5 million in new annual payroll and retaining $42.6 million in existing payroll, as a result of the company’s expansion project. The TCA approved a 0.867 percent, six-year Job Creation Tax Credit for this project.

The Lima Pallet Company, Inc., also in Bath Township and Allen County, expects to create 20 full-time positions, generating $665,000 in new annual payroll and retaining $1.7 million in existing payroll as a result of the company’s expansion project. Lima Pallet manufactures wooden pallets and shipping crates. The TCA approved a 0.815 percent, five-year Job Creation Tax Credit for this project.

Magna Seating of America, Inc., in the Village of Sheffield and Lorain County, expects to create 30 full-time positions, generating $1.3 million in new annual payroll and retaining $2.6 million in existing payroll as a result of the company’s expansion project . Magna Seating develops and manufactures seating systems. The TCA approved a 1.200 percent, six-year Job Creation Tax Credit for this project.

RHBA Acquisitions, in the Village of Shreve and Wayne County, expects to create 30 full-time positions, generating $748,800 in new annual payroll and retaining $1.9 million in existing payroll as a result of the company’s expansion project. RHBA manufactures fittings used primarily in the firefighting industry. The TCA approved a 0.685 percent, five-year Job Creation Tax Credit for this project.

Phillips Edison & Company Ltd., in Sycamore Township and Hamilton County, expects to create 65 full-time positions, generating $5.5 million in new annual payroll and retaining $21.9 million in existing payroll as a result of the company’s expansion project . Phillips Edison & Company is a real estate investor, property manager and rental company specializing in grocery-anchored shopping centers. The TCA approved a 1.616 percent, seven-year Job Creation Tax Credit for this project.

Sensor Technology Systems, Inc., in Miami Township and Montgomery County, expects to create 99 full-time positions, generating $4.3 million in new annual payroll and retaining $1.4 million in existing payroll as a result of the company’s consolidation project in Miami Township. Sensor Technology Systems designs and manufactures electro-optic products that provide special operations, homeland security, law enforcement and other specialized users with improved situational awareness in both night and day operations. The TCA approved a 1.387 percent, seven-year Job Creation Tax Credit for this project.

The Sophic Group, Inc., in Columbus and Franklin County, expects to create 30 full-time positions, generating $2.7 million in new annual payroll and retaining $3.9 million in existing payroll as a result of the company’s expansion project. The Sophic Group is doing business as Improving Enterprises and is an IT services firm that offers training, consulting, recruiting and project services. The TCA approved a 1.531 percent, six-year Job Creation Tax Credit for this project.

Blue Chip Consulting Group, is expected to create 30 full-time positions, generating $3 million in new annual payroll and retaining $11.4 million in existing payroll as a result of the company’s expansion project at a to-be-determined location. Blue Chip is a Microsoft technology consulting firm. The TCA approved a 1.511 percent, six-year Job Creation Tax Credit for this project.

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