Auto supplier plans additional $73M investment, 204 jobs in Springfield

Topre America is expanding its previous plans for a new facility in Springfield (see our June 12, 2017 blog post), announcing it will invest an additional $73 million in the facility to meet increased production requests, the Dayton Business Journal reports. The additional investment in the 177,000 square-foot stamping and steel production plant will “create 204 assembly, research and development, stamping and light manufacturing jobs,” according to the article. The expansion is “contingent upon the approval of state and local incentives.” Jeff Hoagland, president and CEO of the Dayton Development Coalition regional JobsOhio affiliate, said the coalition understands the impact of more than 200 new jobs and “will continue to work with our partners in Springfield and JobsOhio to move this project forward.” For more, read the full article.

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

Ohio recommends Opportunity Zones for federal tax breaks

The recently passed Tax Cuts and Jobs Act of 2017 created an opportunity for states “to identify up to 25% of low-income, high-poverty census tracts” for consideration for federal tax breaks for economic development, according to the Ohio Development Services Agency (ODSA) website. The U.S. Treasury “will make the final determination” of which tracts will be designation as Opportunity Zones, making them eligible for “‘Opportunity Funds’ (not yet formed) to invest in economic development to receive a 10-year federal tax break.” Ohio recommended its full 25% allocation, 320 census tracts out of the 1,280 that were eligible. According to the ODSA, tracts were prioritized by “[j]ob creation potential, history of public/private investment within the tract, future commitments of public/private investment, available land for development,” and other factors. For more, see the ODSA website.

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

Economic development groups “doubling down” to keep expanding companies in Northeast Ohio

JobsOhio, Team Northeast Ohio and the Greater Cleveland Partnership want to make sure local companies who want to grow “do so here rather than elsewhere in the United States and beyond,” Crain’s Cleveland reports. The three groups will add up to a dozen staffers between them “who will be calling on companies” in Cuyahoga, Geauga and Lake counties “to identify those that are evaluating the long-term location strategies for their businesses,” according to the article. The organizations want “to be ready with financial incentives or sites available for expansion before the businesses decide to expand a plant at a location out of state, or leave the region altogether.” Kristi Clouse, executive director of operations for JobsOhio, said the increased involvement in retention and expansion is “because the bulk of the job creation, about 80%, comes from the expansion of existing businesses.” For more, read the full article

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

Columbus one of 20 finalist cities for Amazon’s $5B HQ2

The only city in Ohio to make it through the first cut for Amazon’s $5-billion second headquarters is Columbus, reports Columbus Business First. “Unlike cities that offered plots of land, Columbus offered incentives to recoup partial land acquisition costs in the bid prepared by economic development groups Columbus 2020 and JobsOhio,” according to the article. Among those incentives are a “tax abatement on sites where Amazon opts to invest” and “a cash payment based on a portion of income tax withholding for new jobs.” Columbus also “pledged a dedicated transit and roadwork fund, also funded by reserving Amazon employee withholding tax,” according to Columbus Business First. Out of 238 proposals, Amazon selected 20 finalists; Columbus will compete with New York City, Chicago, Los Angeles and others, The Columbus Dispatch reports. For more, read the full Columbus Business First and Columbus Dispatch articles. 

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates

JobsOhio awards grants to two companies expected to create 235 new jobs

Two auto parts manufacturers recently received grants from JobsOhio for projects that will create a total of 235 new jobs, the Dayton Daily News reports. JobsOhio awarded a $200,000 workforce grant to the DMAX engine plant in Moraine for an expansion that will retain 524 existing jobs and add 150 new ones “in a fixed-asset investment of $58.1 million,” according to the article. General Motors and Isuzu co-own the DMAX plant. JobsOhio also awarded a $300,000 workforce grant and a $200,000 economic development grant to Topre America Corp., a Japanese-based manufacturer that makes parts for Honda. Topre has “committed to bringing 85 jobs at its location in the Champion City Business Park but officials have said the business has potential to grow to more than 400 jobs.” For more, read the full article.

JobsOhio/ODSA, Regional Updates, State Updates

State grants more than $2.5M to communities for infrastructure projects

The Ohio Development Services Agency (ODSA) recently awarded 10 grants to communities across the state to “improve streets, sidewalks, bridges, public facilities and infrastructure,” The Daily Jeff reports. The grants, “totaling more than $2.5 million,” were awarded through the Community Development Critical Infrastructure program, according to the article. David Goodman, director of the ODSA, said, “[c]ommunities with reliable infrastructure are better positioned for growth.” Counties receiving grants include Fairfield County, which “will receive a $216,500 grant to help the village of Baltimore repair Water Street Bridge and relocate an exposed water pipeline,” and Coshocton County, which “will receive a $300,000 grant to help the city of Coshocton with sewer facility improvements.” For more, read the full article.

JobsOhio/ODSA, Regional Updates, State Updates

State approves tax credits for projects to bring 388 jobs and $23M in investments

Ohio Governor John Kasich recently announced “the approval of assistance for 5 projects set to create 388 new jobs” and bring millions in investment to the state, The Sunbury News reports. The Ohio Tax Credit Authority (TCA) “reviewed economic development proposals brought to the board by JobsOhio and its regional partners,” the article reports. Those five projects are expected to “spur more than $23 million in investments across Ohio.” Among the credits the TCA approved is “a 1.402 percent, seven-year Job Creation Tax Credit” for BoxCast Inc.’s expansion that is expected to create 71 new full-time positions. UPS Supply Chain Solutions, Inc. received “a 1.505 percent, seven-year Job Creation Tax Credit” for a new project in West Chester that will add 130 full-time positions, “generating $5.5 million in new annual payroll.” For more, read the full article

JobsOhio/ODSA, Regional Updates, State Updates

Ohio senators and representatives unite to pitch state to Amazon for $5B HQ2

The “congressional delegation in closely divided Ohio” is decidedly not divided over the desirability of landing Amazon’s second corporate headquarters in the state, the Tribune Chronicle reports. In a letter dated October 5, “both Ohio senators and all 16 representatives of both parties pitched Amazon CEO Jeffrey Bezos on the state’s assets,” according to the article. Those assets include “Ohio’s advantageous location, high-quality higher education network, large and talented workforce, robust transportation infrastructure and ‘business-friendly’ environment.” Several cities in Ohio are promoting their communities to the retail giant, including Cleveland, Columbus and Cincinnati. The Youngstown Warren Regional Chamber is “advocating for Enterprise Park at Eastwood” and submitting its proposal to “economic development organization Team NEO and JobsOhio, which has an existing relationship with Amazon and is coordinating submissions from across Ohio to Amazon.” For more, read the full article

JobsOhio/ODSA, Regional Updates, State Updates

Ohio “among top states” for economic development

A survey that tracks trends in economic development found Ohio “ranks No. 3 in the U.S. for state economic development organizations,” the Dayton Business Journal reports. The survey of corporate executives, called the “Winning Strategies in Economic Development Marketing,” is “conducted every three years by the Development Counsellors International [DCI],” according to the article. Ohio “trailed only Georgia and South Carolina” in the report, which “showcases the efforts of JobsOhio.” DCI President Andrew T. Levine said the survey “provides insights into the minds of key decision makers” and that information “can be crucial to communities looking to set themselves apart from other locations.” For more, read the full survey and the Dayton Business Journal article. 

JobsOhio/ODSA, Regional Updates, State Updates

State approves tax credits for eight projects expected to bring $377M in total investments

The Tax Credit Authority recently approved tax incentives totaling approximately $17.7 million for eight projects that could bring $377 million in investments and 3,792 new jobs to Ohio, Gongwer reports. The “proposals brought forward by JobsOhio” include “two new warehouse sites for e-commerce giant Amazon (see our September 8, 2017 blog post)” in North Randall and Monroe that would create 2,000 and 1,000 new jobs, respectively, according to the article. Other recipients include Joseph Manufacturing Company, Inc.’s project that is expected to create “287 full-time positions, generating $7.8 million in new annual payroll,” and Workstream, Inc.’s project that would “create 45 full-time positions, generating $1.4 million in new annual payroll.” Silfex, Inc. “expects to create 400 full-time positions” totaling $20.7 in new annual payroll (see our September 7, 2017 blog post). Synova, LLC expects to add 20 full-time positions; Fresh Unlimited, Inc. plans to add 25; and Beach Communications, LLC expects to create 15.

Financial Incentives, JobsOhio/ODSA, Regional Updates, State Updates
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