Largest state tax incentive deals in Central Ohio ranked by number of proposed new jobs

The parent company of a local insurance startup tops Columbus Business First’s list of state tax incentive recipients, ranked by the number of proposed new jobs each deal could help create, according to a recent article in that publication. IBOD Co. Inc., parent company of Root Insurance, received a “10-year, 2.38 percent job creation tax credit, potentially valued at more than $8 million,” in return for 463 new jobs. The other companies in the top five are Macy’s with 410 new jobs, Le Tote Inc. with 400, Aetna Resources LLC with 350, and FacilitySource, 272. The “total estimated proposed value of the 25 largest incentives approved from July 2017 to June 2018 is $65.05 million, which includes two data center sales tax exemptions as well as job creation tax credits,” Columbus Business First reports. For more, read the full article (subscription required).

Economic Development, Financial Incentives, State Updates