Two NE Ohio projects awarded more than $1M in tax credits

The Ohio Tax Credit Authority approved $1 million in state job-creation tax credits for two projects in Northeast Ohio: a new distribution center for Haydon Corp. in Stow and an expansion of the Canton headquarters of Employers Health, the Cleveland Business Journal reports. New Jersey–based Haydon Corp., “which makes framing and baseboard systems such as metal framing, rooftop support and baseboard heating,” was awarded an eight-year tax credit worth up to $700,000, according to Ohio Department of Development spokesperson Megan Imwalle, the article reports. Employers Health, “a group purchasing organization for pharmacy benefits,” was approved for “a seven-year tax credit that could be worth $305,000.” Imwalle said the amounts are estimated values of potential tax credits “if all elements approved by the Ohio Tax Credit Authority are met.” For more, read the full article (subscription may be required).

Economic Development, Financial Incentives, State Updates