Press Room >> 2009 Press Releases For immediate release JOB CREATION TAX CREDITS APPROVED FOR BUSINESS EXPANSION ### Media contacts: Robert Grevey at (614) 466-6619 or
February 23, 2009
Projects Expected to Generate Investments to Ohio’s Economy
COLUMBUS – Ohio Governor Ted Strickland and Mark Barbash, Interim Director of the Ohio Department of Development, today announced that the Ohio Tax Credit Authority has approved Job Creation Tax Credits for eight businesses involved in location or expansion projects that, if located in Ohio, are expected to create 790 positions and retain 552 jobs for Ohioans, including the first project resulting from ongoing, long-term efforts to reinvest in the Wilmington Air Park.
“Ohio’s unique physical assets, when combined with the depth of talent found in our tremendously skilled workforce, present distinct development opportunities,” Barbash said. “The strengths of our manufacturing and logistics sectors, along with our competitive business environment, make Ohio a globally competitive place to do business.”
Airborne Maintenance and Engineering Services, Inc. (AMES) has been awarded a 65 percent job creation tax credit for a 10-year term as a result of the company establishing operations in the City of Wilmington (Clinton County). The value of the tax credit is estimated at $3,880,414 over the term, and the company would be required to maintain operations at the project site for 20 years. AMES is to be an alternative and viable business operation created in response to DHL’s cessation of domestic operations in Wilmington. The company will offer a full suite of maintenance, repair, and overhaul (MRO) services, with capabilities including engineering and manufacturing, heavy maintenance checks, component repair, and other related functions. This more-than $5.7 million project is expected to create 430 positions.
Curwood Inc. has been awarded a 40 percent job creation tax credit for a five-year term for the location of its facility in the City of Fremont (Sandusky County). The value of the tax credit is estimated at $57,329 over the term, and the company would be required to maintain operations at the project site for 10 years. Curwood supplies advanced packaging materials and systems for the food, beverage, household, industrial, and personal care industries. The project includes the installation of additional equipment and a significant expansion of Curwood’s existing facility. This $10.5 million project is expected to create 37 positions and retain 154 jobs.
PAC Worldwide Corporation has been awarded a 40 percent job creation tax credit for a six-year term in support of the expansion of its facility in the City of Middletown (Butler County). The value of the tax credit is estimated at $50,288 over the term, and the company would be required to maintain operations at the project site for 12 years. PAC manufactures protective small package mailers and maintains a worldwide employment base of approximately 500 employees. The project involves site improvements as well as the relocation of machinery and equipment. This more-than $2.5 million project is expected to create 35 positions and retain 183 jobs.
Smucker Bakery Manufacturing, Inc. has been awarded a 40 percent job creation tax credit for a six-year term in support of the expansion of its food production facility in the City of Toledo (Lucas County). The value of the tax credit is estimated at $75,711 over the term, and the company would be required to maintain operations at the project site for 12 years. The J.M. Smucker Company, Smucker Bakery’s parent company, is a leading marketer and manufacturer of a variety of branded food products including Smucker’s ®, Folgers ®, Jif ®, Crisco ®, and Eagle Brand ®. The company earned the number one ranking in FORTUNE Magazine’s annual listing of 100 Best Companies To Work For in the United States in 2004. The project in Toledo involves site preparation and the purchase of machinery and equipment. This more-than $7.6 million project is expected to create 25 positions and retain 190 jobs.
Clear Saleing, Inc. has been awarded a 45 percent job creation tax credit for a six-year term for its expansion in the City of Columbus (Franklin County). The value of the tax credit is estimated at $290,955 over the term, and the company would be required to maintain operations at the project site for 12 years. Clear Saleing is a software company that provides monitoring applications to companies engaged in online advertising. The project involves the expansion of their current facility as well as software investments. This approximately $640,000 project is expected to create 60 positions and retain 14 jobs.
Phygen Coatings, Inc. has been awarded a 45 percent job creation tax credit for a seven-year term for the company’s new location in the City of Springfield (Clark County). The value of the tax credit is estimated at $118,327 over the term, and the company would be required to maintain operations at the project site for 14 years. Phygen, formed in 2004, brands and sells advanced plasma applications for hard wear resistant and protective coatings, delivering stronger adhesion performance than conventional coating processes. The project involves the lease and renovation of an existing building to house an Advanced Coatings and Applications Development Center. This $2.87 million project is expected to create 20 positions.
Tire Kingdom Inc. has been awarded a 45 percent job creation tax credit for a seven-year term as a result of the company’s expansion in the Village of Obetz (Franklin County). The value of the tax credit is estimated at $101,166 over the term, and the company would be required to maintain operations at the project site for 14 years. Tire Kingdom has grown since 1972 into the largest independent tire and automotive services retailer in the United States, operating more than 600 stores and employing 7,000 people. The company will update an existing building in the Village of Obetz to serve as a regional warehouse and distribution hub for approximately 120 retail locations in the Midwest. This $2.9 million project is expected to create 48 positions and will relocate and retain 11 jobs.
Coating Excellence International, LLC (CEI) has been awarded a 50 percent job creation tax credit for a six-year term as a result of the company’s new location in West Chester Township (Butler County). The value of the tax credit is estimated at $385,062 over the term, and the company would be required to maintain operations at the project site for 12 years. Formed in 1997, CEI is a specialized flexible packaging company that produces products for a variety of consumer retail products. This more-than $2 million project is expected to create 135 positions.
The Job Creation Tax Credit is a refundable tax credit against the Commercial Activity Tax or income tax. The credits equal a percentage of new state income tax withheld on retained, 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.
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