Click image to enlarge

COLUMBUS – Lieutenant Governor Lee Fisher announced that the Ohio Tax Credit Authority has approved Job Creation Tax Credits and a Job Retention Tax Credit for seven manufacting businesses involved in location or expansion projects that, if located in Ohio, are expected to create or retai over two thousand jobs, and or positions for Ohioans.

Ventaire, LLC, located in Logan (Hocking County), has been awarded a 40 percent credit for a five-year term to establish a new facility. The value of the tax credit is estimated at $67,760 over the term, and the company would be required to maintain operations at the project site for 10 years. Ventaire was founded in 1946 and has designed, manufactured, and erected metal construction products and finished structures for the retail petroleum, fast food restaurant, big box retail and other end user markets. The company’s modular buildings are manufactured under the name Sagebrush Buildings, with typical clients being Kroger Corporation and Sam’s Club. The facility will be used to manufacture the metal used in the final construction of clients’ buildings. It will also be a distribution point for other finished goods sent from other locations in the Midwest. Ohio is in competition with West Virginia, Indiana, and Pennsylvania for this $1.2 million project, which is expected to create 50 new full-time positions within the first three years of the project's initial operations.

Norwood Tool Company, located in Dayton (Montgomery County), has been awarded a 40 percent credit for a six-year term for the company’s expansion in the City of Dayton. The value of the tax credit is estimated at $97,168 over the term, and the company would be required to maintain operations at the project site for 12 years. Established in 1934, Norwood Tool is a CNC machining, stamping, and processing company. The project includes construction of a new 53,000 square foot manufacturing and research and development facility, as well as the acquisition of new machinery and equipment. Ohio is in competition with Texas for this $3 million project, creating 50 new full-time jobs and retaining 524 within the first three years of the project's initial operations.

Barnes Aerospace Division of Barnes Group Inc., located in West Chester Township (Butler County), has been awarded a 45 percent credit for a six-year term for the company’s expansion in West Chester Township. The value of the tax credit is estimated at $85,530 over the term, and the company would be required to maintain operations at the project site for 12 years. The Barnes Aerospace Division of the Barnes Group, a publicly owned sheet metal fabrication and supporting operations company, was founded in 1941, originally as Kratz-Wilde. The project includes an expansion of the existing facility, which will house aircraft engine, and the acquisition of machinery and equipment.

Kurz-Kasch, Inc., located in Moraine, (Montgomery County), has been awarded a 45 percent credit for a six-year term for the company’s expansion into Miamisburg. The value of the tax credit is estimated at $437,255 over the term, and the company would be required to maintain operations at the project site for 12 years. Founded in 1916, Kurz-Kasch is a specialty manufacturer and technology company that has established itself as a leader in the manufacturing of highly engineered electromagnetic and engineered composite components. The project includes the lease and renovation of a facility. Ohio is in competition with several other locations for this $1million project, creating 200 new full-time jobs and retaining 25 full-time jobs within the first three years of the project’s initial operations.

Affymetrix, Inc. & USB Corporation, located in Warrensville Heights (Cuyahoga County), has been awarded a 50 percent credit for a seven-year term for the company’s expansion in the City of Warrensville Heights. The value of the tax credit is estimated at $496,140 over the term, and the company would be required to maintain operations at the project site for 14 years.

PharmaForce, Inc., located in the Village of New Albany (Franklin County), has been awarded a 50 percent credit for a seven-year term for the company’s relocation to the Village of New Albany. The value of the tax credit is estimated at $1.2 million over the term, and the company would be required to maintain operations at the project site for 14 years. Originally organized in 1999, as a Limited Liability Company, PharmaForce was formed for the purpose of developing and commercializing prescription drug products. The project includes a 40,000 square foot sterile manufacturing facility capable of processing lyophilized pharmaceutical products including highly potent compounds, peptides, and other technically challenging drug products.

Solsil, Inc., located in Waterford Township (Washington County), has been awarded a 65 percent credit for a ten-year term for the company’s expansion in Waterford Township, Washington County. The value of the tax credit is estimated at $2.8 million over the term, and the company would be required to maintain operations at the project site for 20 years. Founded in 2006 as a privately held subsidiary of Globe Specialty Metals, Inc., Solsil is a producer of high purity silicon manufactured through a proprietary metallurgical process for use in silicon-based photovoltaic solar cells. The project includes a new location for its existing operations, as well as building a new 150,000 square foot facility, and the acquisition of machinery and equipment. Ohio is in competition with New York for this $56 million project, creating 350 full-time jobs and retaining 40 existing full-time jobs within the first three years of the project’s initial operations.

The Job Creation Tax Credit is a refundable tax credit against the Commercial Activity Tax or income tax. The credit equals a percentage of new state income tax withheld on new, full-time employees in Ohio.

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.