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