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Area companies get tax credits to create jobs


Companies in the Miami Valley are among fifteen business expansions that should create 831 jobs and retain 1,903 jobs statewide that have been approved for tax credits, Gov. John Kasich said Monday.

The projects are expected to result in more than $120 million in new payroll, and spur $379 million in investment across the state, Kasich said.

During its monthly meeting, the Ohio Tax Credit Authority reviewed economic development proposals brought to the board by JobsOhio and regional partners.

Projects approved by the TCA include:

• Element Materials Technology of Cincinnati Inc. of Evendale. It is expected to create 42 full-time positions, generating $1.9 million in additional annual payroll and retaining $810,950 in existing payroll as a result of the company’s expansion project. The independent mechanical testing laboratory received a 40 percent, six-year tax credit.

• INX International Ink Co., of Lebanon, expects to create 30 full-time positions, generating $2 million in additional annual payroll and retaining $645,000 in existing payroll. The company, which has been producing ink since 1896, will expand in Lebanon and will receive a 40 percent, six-year tax credit.

• Cole Taylor Bank, doing business as Cole Taylor Mortgage, in Clinton County, expects to create 140 full-time positions, generating $5.6 million in new annual payroll and retaining $1.8 million in existing payroll as a result of the company’s new location project in Wilmington. Cole Taylor Bank is a mortgage lender. The company will receive a 60 percent, eight-year tax credit.

• ISS America Inc., in Bellefontaine in Logan County, expects to create 20 full-time positions, generating $670,000 in additional annual payroll and retaining $183,720 in existing payroll as the result of the company’s expansion project in the Bellefontaine. ISS is a supplier to Honda for various engine components. It will receive a 35 percent, six-year tax credit.

• NEX Transport, Inc. in Logan Co. expects to create 45 full-time positions, generating $1 million in additional annual payroll and retaining $10.5 million in existing payroll as a result of the company’s expansion project in Zane Twp. NEX is a logistics consultant for export and overseas packaging and distribution. It will receive a 40 percent, six-year tax credit.


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