Press Room >> 2009 Press Releases For immediate release JOB CREATION TAX CREDITS APPROVED FOR BUSINESS EXPANSION 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 12 businesses involved in location or expansion projects that, if located in Ohio, are expected to create 1,214 positions and retain 3,183 jobs for Ohioans. ### Media contacts: Robert Grevey at (614) 466-6619 or
March 30, 2009
Projects Expected to Generate Investments to Ohio’s Economy
“Ohio’s meaningful, targeted investment strategy expands upon our state’s strengths in technology and manufacturing, creating a business environment that welcomes an array of industry sectors,” said Barbash. “Our diverse economic portfolio supports businesses via unparalleled distribution access to key markets both domestic and global, and the logistics network to deliver our first class goods and services.”
Touch Bionics, Inc. has been awarded a 45 percent job creation tax credit for a six-year term at a location to be determined in central Ohio (Franklin County). The value of the tax credit is estimated at $101,423 over the term, and the company would be required to maintain operations at the project site for 12 years. Touch Bionics is a Scottish developer of award-winning bionic and prosthetic medical devices. The project includes leasehold improvements and the installation of equipment. This $370,000 project is expected to create 20 positions.
Pristine Bay, LLC has been awarded a 40 percent job creation tax credit for a seven-year term in support of the company’s expansion at its facility in the City of Forest Park (Hamilton County). The value of the tax credit is estimated at $1,045,945 over the term, and the company would be required to maintain operations at the project site for 14 years. Pristine Bay, founded in 2008, is a direct marketing company that markets various natural supplements to enhance personal health and wellness. The project involves facility and machinery and equipment improvements. This more-than $1.2 million project is expected to create 442 positions and retain 250 jobs.
Graeter’s Manufacturing Co. has been awarded a 45 percent job creation tax credit for a six-year term in support of the company’s new location in the City of Cincinnati (Hamilton County). The value of the tax credit is estimated at $49,917 over the term, and the company would be required to maintain operations at the project site for 10 years. Graeter’s was founded in Cincinnati in 1870, and has manufactured small batch gourmet ice cream over the course of four generations of ownership. The project includes the acquisition of machinery and equipment, as well as the construction of a new manufacturing facility. This more-than $9.1 million project is expected to create 30 positions and retain 67 jobs.
ADISCO, Inc. has been awarded a 45 percent job creation tax credit for a six-year term for its expansion in the City of Kettering (Montgomery County). The value of the tax credit is estimated at $203,217 over the term, and the company would be required to maintain operations at the project site for 12 years. ADISCO, founded in Connecticut in 1960, is a plastics manufacturer with a concentration in the analytical and medical devices industry. The project involves the lease of a facility where the company will conduct manufacturing, research and development, and administrative functions. This approximately $255,000 project is expected to create 56 positions.
Innovative Communication Solutions LLC has been awarded a 45 percent job creation tax credit for a six-year term for the company’s new location in the City of Akron (Summit County). The value of the tax credit is estimated at $185,256 over the term, and the company would be required to maintain operations at the project site for 12 years. Innovative Communication Solutions, founded in 2007, specializes in real-time delivery of mission-critical data over advanced communication infrastructure via comprehensive solutions for remote management, access, and control. The project involves the lease of an existing building as well as the acquisition of machinery and equipment. This $700,000 project is expected to create 35 positions.
People To My Site, LLC has been awarded a 45 percent job creation tax credit for a six-year term as a result of the company’s expansion in the City of Gahanna (Franklin County). The value of the tax credit is estimated at $168,776 over the term, and the company would be required to maintain operations at the project site for 12 years. People To My Site, founded in 2001, is a full service integrated internet marketing and consulting company. The project involves leasehold improvements and the acquisition of machinery and equipment. This $275,000 project is expected to create 30 positions and retain 45 jobs.
Mars Petcare U.S., Inc. has been awarded a 50 percent job creation tax credit for a seven-year term as a result of the company’s expansion in the City of Columbus (Franklin County). The value of the tax credit is estimated at $82,312 over the term, and the company would be required to maintain operations at the project site for 14 years. Mars Petcare has produced pet food including snacks and treats under a variety of brand names in Columbus since 1972. This $10 million project is expected to create 25 positions and retain 523 jobs.
Thinkronize, Inc. has been awarded a 50 percent job creation tax credit for a seven-year term as a result of the company’s expansion in the City of Sharonville (Hamilton County). The value of the tax credit is estimated at $205,840 over the term, and the company would be required to maintain operations at the project site for 14 years. Founded in 1999, Thinkronize is a leader in the digital delivery of K-12 educational content, dedicated to enhancing the education of today's youth with highly effective technologies that deliver the educational value of the Internet to children in a safe, relevant, easy-to-use format. The project includes tenant improvements valued at $250,000 and is expected to create 25 positions and retain 66 jobs.
PBM Covington, LLC has been awarded a 50 percent job creation tax credit for a 10-year term as a result of the company’s new location in the Village of Covington (Miami County). The value of the tax credit is estimated at $339,354 over the term, and the company would be required to maintain operations at the project site for 20 years. PBM Covington manufactures, markets and distributes baby formulas and other nutritional products to more than 20,000 retail locations in the United States and throughout the world. The project involves the acquisition of land, machinery, and equipment, as well as building improvements. This $21 million project is expected to create 49 positions.
Macy’s Corporate Services, Inc. has been awarded two distinct 55 percent job creation tax credits, each for six-year terms as a result of the company’s expansions in the cities of Sharonville and Cincinnati, respectively (Hamilton County). The value of the tax credits is estimated at $181,748 and $821,932 over the term, totaling more than $1 million, and the company would be required to maintain operations at the project sites for 12 years. Macy’s Corporate Services provides business support services for Macy’s, Incorporated, and its subsidiaries, one of the world’s premier retailers with more than 840 stores in 45 states, and a diverse workforce including approximately 182,000 employees. The projects involve reconfiguration of office spaces in support of expanded corporate services operations. Macy’s project in Sharonville is expected to create 68 positions and retain 211 jobs. The $300,000 project in Cincinnati is expected to create 115 positions and retain 666 jobs.
Five Star Technologies, Inc. has been awarded a 60 percent job creation tax credit for a seven-year term as a result of the company’s relocation to a site to be determined in Northeast Ohio (Cuyahoga County). The value of the tax credit is estimated at $1,092,280 over the term, and the company would be required to maintain operations at the project site for 14 years. Five Star, founded in 1995, is focused on becoming a technology and manufacturing leader in Ohio for specific application critical to the mass production of solar cells. This $1 million project is expected to create 106 positions and retain 15 jobs.
Aetna, Inc. has been awarded a 65 percent job creation tax credit for a seven-year term as a result of the company’s expansion in the City of New Albany (Franklin County). The value of the tax credit is estimated at $2,019,369 over the term, and the company would be required to maintain operations at the project site for 14 years. Established in 1850 and headquartered in Hartford, Connecticut, Aetna employs more than 35,000 people, offering a broad range of insurance and employee benefits. This more-than $500,000 project is expected to create 213 positions and retain 1,340 jobs.
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.
the Communications and Marketing Office at (614) 466-2609