JobsOhio helped create 27,071 new jobs in 2018

JobsOhio’s annual report for 2018 shows the nonprofit agency helped 266 companies that created 27,071 jobs with $1.3 billion in new payroll, Crain’s Cleveland reports. That number represents a 19% increase over 2017. Those companies also “made $9.6 million in capital investments,” a “new high for the 8-year-old nonprofit,” according to the article. A performance assessment that JobsOhio commissioned last year (see our August 16, 2018 blog post) “ranked JobsOhio among the top five in a group of 17 state economic development organizations it used for comparison,” and identified areas where the organization could improve. For more, read the full article

Economic Development, State Updates

Three NE Ohio manufacturers adding 599 jobs and $31.2M payroll win tax credits

The Ohio Tax Credit Authority (TCA) awarded tax credits to three Ohio companies whose expansion plans will “add a total of nearly 600 jobs and $31.2 million in payroll,” Crain’s Cleveland reports. The Great Lakes Cheese Co. “expects to create 400 full-time positions, generating $23.8 million in new annual payroll” as part of its headquarters expansion; the TCA approved a 2.281%, 10-year Job Creation Tax Credit for that project. Youngstown Tool and Die Co. will construct a new plant and add 60 new jobs that will create $2.5 million in annual payroll. Morgan Truck Body LLC “won a $1.293%, eight-year tax credit for its plan to create 139 new full-time jobs in Orrville,” adding $4.9 million in new annual payroll. For more, read the full article

Economic Development, Financial Incentives, State Updates

Trumbull Energy Center will “generate millions in economic activity”

The second Lordstown gas-fired power plant, the 940-megawatt Trumbull Energy Center, will generate not just power but “impressive numbers” in economic activity, The Vindicator reports. The plant “will produce $149 million in property taxes for Lordstown and Trumbull County over the next 50 years,” according to the article. Additionally, it will generate “$1.9 million in income taxes and $85 million of profit taxes for Lordstown over that span.” During the 34-month construction period, the power plant will generate $137 million in union wages, with 1 percent paid to Lordstown as income taxes. The company will spend $617 million on materials and services during construction and operation. For more, read the full article.

Economic Development, State Updates

OPSB authorizes fourth wind farm for Paulding County

Paulding County’s fourth wind farm is expected to be completed and operating by the end of 2019, The Van Wert Independent reports. The Ohio Power Siting Board authorized Paulding Wind Farm IV LLC to construct the 37-turbine Timber Road IV Wind Farm near Payne, according to the article. The wind farm will have “a total generating capacity of up to 125.1 megawatts,” and will connect to the regional transmission grid via underground electric collection lines. Paulding Wind Farm IV “is expected to bring in more than $1 million in additional revenues to the county.” For more, read the full article.

Economic Development, Renewable Energy, State Updates

New Albany will be site of $600M Google data center

Google recently confirmed it “plans to develop a $600 million data center in New Albany this year,” ThisWeek Community News reports. Montauk Innovations, a Google affiliate, “has purchased 447 acres in Franklin and Licking counties for $54.5 million,” according to the article. Google “has received millions of dollars in state and local tax incentives for the project,” with state tax incentives estimated to be $43.5 million. Kenny McDonald, chief economic officer for Columbus 2020, tweeted, “@Cbusregion is proud to be a partner of one of the world’s greatest enterprises.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Ohio SB 8 would authorize tax credits for Opportunity Zone investments

A bill that would authorize tax credits for investments in an Ohio Opportunity Zone (see our August 13, 2018 blog post) received support from the Summit County Executive and the Greater Cleveland Partnership, Gongwer reports. Senate Bill 8 (SB 8) would amend and enact sections of the Revised Code to authorize tax credits including job creation, job retention, historic preservation and other tax credits for investments in designated Opportunity Zones. Summit County Executive Ilene Shapiro said Opportunity Zones in Summit County are areas that “have seen great difficulty drawing private capital for development projects necessary to move these communities forward,” according to the article. Alesha Washington, vice president of government advocacy for the Greater Cleveland Partnership, said, “[w]e believe Senate Bill 8 offers much needed support to local economic development efforts to attract and keep potential Opportunity Zone investors interested in Ohio.” 

Economic Development, Financial Incentives, State Updates

Dayton considers $450k grant for pet retailer bringing $17M payroll

The city of Dayton is “considering giving $450,000 to pet retailer Chewy in support of its project to bring 600 new jobs to the Dayton airport,” the Dayton Daily News reports. Chewy is opening a new 690,500-square-foot e-commerce fulfillment center that will create those jobs, projected “to have an annual payroll of $17 million,” the article reports. The retailer’s expansion “leverages a $45 million investment that included the construction of the building and improvements to the roadways and utilities around it.” The city said the $450,000 grant money will help fund improvements to the new facility, including machinery and equipment. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Franklin County joins national network to boost development in targeted areas

The Columbus Foundation, the Columbus Partnership and venture-capital group Rev1 are joining Franklin County in a two-year pilot program to focus on “business growth in underserved neighborhoods,” The Columbus Dispatch reports. The county is joining Forward Cities, a national “economic-development network based in North Carolina” that works “to boost business startups and expansions in neighborhoods” that “haven’t benefited economically as much as other parts of participating metro areas have,” according to the article. The local program will be backed by “$250,000 in funding from the county and the three other partners” and “will include the formation of an innovation council.” For more, read the full article.

Economic Development, State Updates

Ohio State medical facility would be biggest development in Powell history

The Powell City Council “is considering an ordinance to approve an ambulatory-care” outpatient facility proposed by The Ohio State University that “is expected to employ up to 500 people and have a payroll of up to $50 million in its first phase,” The Columbus Dispatch reports. The project would be “the biggest development in the city’s history” and the city’s largest employer, according to the article. The first phase would include a five-story, 150,000-square-foot building and a two-story, 56,000-square-foot building, housing the ambulatory-care center, diagnostic services, house specialty care and offices for “primary-care physicians, internists and mental-health professionals.” The second phase “would add 216,000 square feet and could include a ‘micro-hospital.’” For more, read the full article.

Economic Development, State Updates

IT distributor Tech Data chooses Ohio for expansion

Tech Data Corp., a distributor of IT equipment, plans to add 88 jobs to its current base of 208 positions at its Obetz facility, an expansion company spokesperson Bobby Eagle called a testament to the distribution center’s performance, Columbus Business First reports. Ohio “was competing with Arizona, Texas and Georgia” for the project to increase capacity, according to the article. The Ohio Tax Credit Authority approved “a 1.35 percent, six-year tax credit based on the payroll generated by the net new jobs,” a deal that “would be worth $275,000 over the life of the agreement, if the company creates all the pledged jobs and meets other terms.” For more, read the full article.

Economic Development, Financial Incentives, State Updates
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