Press Room >> 2009 Press Releases

For Immediate Release
July 27, 2009

JOB CREATION AND RETENTION TAX CREDITS APPROVED FOR BUSINESS EXPANSION
Projects Expected to Generate Investments to Ohio’s Economy  

COLUMBUS – Ohio Governor Ted Strickland and Lisa Patt-McDaniel, Interim Director of the Ohio Department of Development, today announced that the Ohio Tax Credit Authority has approved Job Creation Tax Credits for 13 businesses involved in location or expansion projects that, if located in Ohio, are expected to create 1,341 positions and retain 5,971 jobs for Ohioans.

“Our state is committed to investing in the educated workforce and business environment that will attract these types of innovative companies to grow and thrive in Ohio,” Strickland said. “As Ohio competes more and more on a global scale, we’ll continue working to create new jobs in Ohio, like those in new technologies, advanced manufacturing, and renewable energies.”

“Ohio’s targeted investment strategy expands our state’s strengths in an array of industry sectors from advanced energy to technological manufacturing,” said Patt-McDaniel. “These investments demonstrate the capabilities of our state’s strongest asset – the talented Ohioans who help create our state’s unparalleled business environment.”

Greenfield Solar Corp. has been awarded two 60 percent job creation tax credits, each for eightyear terms, in support of the company’s projects in the cities of Oberlin and North Ridgeville (Lorain County). The value of the tax credits are estimated at a combined $850,000 over the term of the agreements, and the company would be required to maintain operations at the project sites for 16 years. Greenfield developed and has begun manufacturing concentrating photovoltaic systems (CPV), which reduce costs associated with photovoltaic power. These combined $9.8 million projects are expected to create 200 positions and retain 3 jobs.

GE Aviation, GE Military Systems, & GE Engine Services, Inc. has been awarded a 50 percent job retention tax credit for a 15-year term in support of the company’s capital investment project in the Village of Evendale (Hamilton County). The value of the tax credit is estimated at $120 million over the term, and the company would be required to maintain operations at the project site for 18 years. Home to this division of the General Electric Company, the Evendale site is home to GE’s 400 acre, 6 million square foot worldwide headquarters campus, supplying large and small jet engines, jet-derived marine application, and other aviation services. This $161 million project is expected to retain 5,000 jobs.

Wayne Trail Technologies, Inc. has been awarded a 50 percent job creation tax credit for a sixyear term as a result of the company’s expansion in the Village of Fort Loramie (Shelby County). The value of the tax credit is estimated at $192,538 over the term, and the company would be required to maintain operations at the project site for 12 years. Wayne Trail Technologies designs and supplies flexible, automated systems support for the alternative energy, aerospace, automotive, appliance, HVAC, other industries. This $1 million project is expected to create 27 positions and retain 133 jobs.

Advanced Electronic Tracking has been awarded a 50 percent job creation tax credit for a six year term in support of the company’s new location in the City of Moraine (Montgomery County). The value of the tax credit is estimated at $116,211 over the term, and the company would be required to maintain operations at the project site for 12 years. Advanced Electronic Tracking focuses on the development of new technologies with a primary involvement in the field of Radio Frequency Identification (RFID) technology, producing an application that can be used to track the temperature of a product in transit. This $8.5 million project is expected to create 25 positions.

CVC 1 Limited, LLC has been awarded a 35 percent job creation tax credit for a five-year term in support of the company’s new location at a site to be determined. The value of the tax credit is estimated at $24,036 over the term, and the company would be required to maintain operations at the project site for 10 years. CVC 1 has developed and patented a technology that enhances the ability to increase wire and cable volume in a building while lessening heat and harmonics in digital loads. This $5 million project is expected to create 30 positions.

e-Cycle, Inc. has been awarded a 40 percent job creation tax credit for a six-year term in support of the company’s expansion in the City of Dublin (Franklin County). The value of the tax credit is estimated at $101,414 over the term, and the company would be required to maintain operations at the project site for 12 years. e-Cycle is a full service wireless recycling company, founded on the mission to support fundraising programs for a variety of interests, that recycles and resells new and used wireless phones and accessories, keeping hundreds of thousands of pounds of electronic waste out of U.S. landfills. This $200,000 project is expected to create 40 positions and retain 17 jobs.

Immediate Pharmaceutical Services, Inc. has been awarded a 50 percent job creation tax credit for an eight-year term in support of the company’s new location in the City of Avon Lake (Lorain County). The value of the tax credit is estimated at $1 million over the term, and the company would be required to maintain operations at the project site for 16 years. Immediate Pharmaceutical Services operates a fully-integrated prescription mail service center, and will provide Catalyst Health Solutions’ clients with an in-house mail service option. This $4.2 million project is expected to create 200 positions and retain 90 jobs.

International Technical Coatings, Inc. has been awarded a 50 percent job creation tax credit for a seven-year term in support of the company’s expansion project at a site to be determined. The value of the tax credit is estimated at $369,775 over the term, and the company would be required to maintain operations at the project site for 14 years. Founded in 1993 as a powder coating company, International Technical Coatings is an automated wire fabricator with manufacturing and distribution capabilities. This $16.2 million project is expected to create 200 positions and retain one job.

Johns Manville has been awarded a 55 percent job creation tax credit for a 10-year term in support of the company’s relocation to the Village of Milan (Erie County). The value of the tax credit is estimated at $464,827 over the term, and the company would be required to maintain operations at the project site for 20 years. Founded in 1858, Johns Manville is a leading manufacturer and marketer of premium-quality building insulation, commercial roofing, roof insulation, and specialty products for commercial, industrial, and residential applications. This $43 million project is expected to create 100 positions.

Pressco Technology, Inc. has been awarded a 65 percent job creation tax credit for an eight-year term in support of the company’s new location in the City of Solon (Cuyahoga County). The value of the tax credit is estimated at $3.5 million over the term, and the company would be required to maintain operations at the project site for 16 years. Pressco, founded in Cincinnati, Ohio, in 1966, by Dean M. Cochran, was originally an engineering-oriented, full-service machine tool distribution company and is known today as Pressco Technology, Inc., a recognized leader in the container inspection industry. This $35 million project is expected to create 350 positions and retain 118 jobs.

Roppe Corporation has been awarded a 45 percent job creation tax credit for a six-year term in support of the company’s expansion project in the City of Fostoria (Seneca County). The value of the tax credit is estimated at $65,890 over the term, and the company would be required to maintain operations at the project site for 12 years. Roppe is a manufacturer of rubber wall bases, floor tiles, stair threads, and specialty flooring materials. This $4.6 million project is expected to create 33 jobs and retain 306 positions.

The Scotts Company, LLC has been awarded a 50 percent job creation tax credit for a 10-year term in support of the company’s expansion in the City of Marysville (Union County), and a 40 percent job creation tax credit for a six-year term for its new facility in the City of Orrville (Wayne County). The value of the tax credits is estimated at $116,210 and $106,490 over the respective terms, and the company would be required to maintain operations at the project sites for 20 and 12 years respectively. The Scotts Company is a wholly owned subsidiary of The Scotts Miracle-Gro Company, the world's largest marketer of branded consumer lawn and garden products and professional horticulture products. These combined $27.5 million projects are expected to create 96 positions and retain 303 jobs.

Voith Hydro, Inc. has been awarded a 60 percent job creation tax credit for a seven-year term in support of the company’s new location in the Village of Hannibal (Monroe County). The value of the tax credit is estimated at $191,281 over the term, and the company would be required to maintain operations at the project site for 14 years. Voith was founded 139 years ago and manufactures and assembles hydro-electric generators and turbines. This $4.6 project is expected to create 40 positions.

The Ohio Tax Credit Authority is a five-member independent board consisting of taxation and economic development professionals from throughout the state that is responsible for reviewing and approving applications for state tax credit assistance. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects. The  Ohio Tax Credit Authority’s approval of incentives indicates the state’s commitment to the company, and precedes a final decision of the company to accept or decline the tax incentives approved.

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