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

Ohio offers $11M in tax credits as Amazon eyes two more facilities in state

Monroe and North Randall could be the newest Ohio locations for Amazon distribution centers, and the state is offering $11.6 million in tax credits to help make that happen, The Columbus Dispatch reports. Amazon “officially announced plans for the North Randall project” that includes a $100 million investment “to develop an 855,000-square-foot center employing 2,000 workers earning $55.4 million a year,” according to the article. Amazon would invest $30 million in the Monroe project, which is expected to create “1,000 jobs with an annual payroll of $26.7 million if the company goes ahead with the project.” The Dayton Business Journal reports that a JobsOhio spokesperson “said it will continue to work with the company” and that the combined $11.6 million tax credit from The Ohio Tax Credit Authority was “an important step.” For more, read the full Columbus Dispatch and Dayton Business Journal articles. 

 

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

ODSA program offers low-interest loans for energy efficiency improvements

The Ohio Development Services Agency’s Energy Loan Fund is accepting applications from eligible organizations seeking low-interest financing for energy efficiency improvements. The fund offers loans from $250,000 up to $2.5 million for projects to install efficiency measures that reduce energy by at least 15 percent. Those eligible to apply include small businesses, manufacturers, local governments, nonprofit organizations, school districts, colleges and universities. For program guidelines and information on the application process, click here

JobsOhio/ODSA, State Updates

Cliffs Natural Resources plans to build $700M iron processing plant in Toledo

Cleveland-based Cliffs Natural Resources, an iron ore and mining company, has chosen Toledo as the location for a $700-million facility that would be the first of its kind in the Midwest, Crain’s Cleveland reports. The new iron processing plant “will have the capacity to produce 1.6 million tons of hot briquetted iron (HBI) per year” to be used in steel making. The project is “under consideration to receive about $30 million in grants and [other incentives] from JobsOhio,” while the city of Toledo will “provide a Toledo Expansion Incentive of 30% for ten years.” Cliffs would create 130 permanent jobs as well as “1,200 construction jobs over the next two years” if the project is confirmed; the plans are contingent on receiving final approvals for financial incentives. For more, read the full article

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

$55M Springfield project adds to growing international investments in Ohio

Japanese company Topre America Corp.’s plans to build “a $55 million plant in Springfield” is part of a “robust spate” of foreign investments in Ohio, the Dayton Business Journal reports. The Tokyo-based manufacturer “is promising to bring 85 new jobs and $3.4 million in payroll to the city as it sets up a new stamping and manufacturing site” at a former International Harvester plant. The Ohio Tax Credit Authority approved a 1.2 percent, seven-year tax credit to Topre for the project. JobsOhio Senior Managing Director Kristi Tanner said, “Topre’s commitment to Springfield is another example of the significant role foreign direct investment is playing in Western Ohio,” noting the company will bring “advanced automotive manufacturing and 85 new jobs to a facility that stood empty for too long.” A 2016 JobsOhio survey found “about 3,600 international companies employ 224,000 people” in Ohio, with Japanese entities making up 29 percent of that total. For more, read the full article

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

Miami Valley manufacturer plans $73M renovation and expansion project

Emerson Climate Technologies, “[o]ne of the largest manufacturers in the Miami Valley,” is asking for government funds for a proposed $73-million substantial renovation and addition to its campus, the Dayton Business Journal reports. Emerson, which manufactures heating, air conditioning, ventilation and refrigeration products, employs about 1,600 people at its Dayton and Sidney offices. The Dayton-Montgomery County Port Authority approved “about $73 million in financing . . . to help pay for the pending construction work,” according to the article. JobsOhio and the Dayton Development Coalition are also working with the company on the project, which would include adding on to the current facility and rebuilding laboratory space. For more, read the full article

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

CareSource’s $39M investment a success story for Ohio

JobsOhio is touting CareSource’s $38.9-million investment in Dayton as a success story for the state, calling it “the major driver of downtown Dayton’s revitalization,” the Dayton Business Journal reports. A JobsOhio case study calls the “continued growth of the $7.2 billion Medicaid, Medicare Advantage and health insurance company” a “model for other companies in the biohealth industry looking to grow in the state.” CareSource has committed to 650 new jobs in the region, with 400 of those in the next three years; by 2020, the company plans to employ 2,500 people in the Dayton area. The Ohio Tax Credit Authority approved a 40-percent job creation tax credit through 2021 for the company, and JobsOhio awarded CareSource a $300,000 revitalization grant. In return, the company “is growing its payroll commitment in the Dayton area to $129.15 million” and its fixed-asset investment to $42.39 million. For more, read the full article.

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

Project to revitalize downtown Dayton building secures $100K JobsOhio grant

A local developer has won a $100,000 grant from JobsOhio for a development project that has already filled a once-vacant downtown Dayton building with tenants, the Dayton Business Journal reports. JobsOhio awarded the grant to Woodward Development for its $549,000 “revitalization project of the 444 W. Second St. building”; that project “will create 18 jobs and $1.08 million in payroll” plus retain another 12 jobs in the region, according to the article. The development company bought the property from CityWide Development Corp. late last year, moved into the space, and “went to work on building it out.” The property has become “a hotbed for technology” and is part of “a new ‘innovation district’ planned with 444 as the anchor.” Tenants including the Air Force Research Laboratory, startup software company Mile Two LLC, and tech company Galois have leased space in the building. For more, read the full article

JobsOhio/ODSA, Regional Updates, State Updates

Tronair Inc. to invest $9.5M and create 110 new jobs at Toledo Express Airport

The Toledo-Lucas County Port Authority recently approved a 10-year lease for Tronair Inc. at the Toledo Express Airport, helping to bring jobs and investment to the area, The Toledo Blade reports. Tronair, a Toledo-based company that “makes devices and tools for aviation ground crews . . . will lease an empty air freight building” at the airport. The company will invest $9.5 million and create 110 new jobs as part of its expansion. “Landing Tronair’s expansion in Lucas County was a joint effort of the port authority, the city of Toledo, JobsOhio, the Regional Growth Partnership, and Lucas County,” according to the article. The One Cargo Parkway building that Tronair will lease is located in a joint economic development district between the city of Toledo and Monclova and Swanton townships. For more, read the full article.

JobsOhio/ODSA, Regional Updates, State Updates

California-based manufacturer will move headquarters to Ohio

NDC Technologies, a California-based manufacturer of measurement and control solutions for industrial processes, “is consolidating and moving its headquarters to Huber Heights” in a move that could bring 40 jobs to that area, the Dayton Daily News reports. NDC already has operations in Huber Heights, with around 70 employees currently; the “additional 40 jobs would partly come from the relocation of some existing employees, and the creation of new positions,” according to the article. The Dayton Development Coalition and JobsOhio “said the project remains contingent on final approval of incentives.” JobsOhio Managing Director for Advanced Manufacturing and Aerospace, Glenn Richardson, said, “Ohio’s industrial diversity, military presence and abundance of engineering talent make it an ideal location for NDC Technologies to establish its headquarters and grow.” For more, read the full article.

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