Press Room >> 2009 Press Releases For immediate release JOB CREATION AND RETENTION 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 1,693 positions and retain 14,828 jobs for Ohioans. ### Media contacts: Robert Grevey at (614) 466-6619 or
April 27, 2009
Projects Expected to Generate Investments to Ohio’s Economy
“Ohio’s industry sectors benefit from a targeted investment strategy that creates a welcoming environment for businesses from professional services to advanced manufacturing,” said Barbash. “Businesses find in Ohio a talented workforce, unparalleled global access, and a supportive network of complimentary and dynamic industries that make up our state’s robust supply chain.”
Alcoa, Inc. has been awarded a 75 percent job retention tax credit for a 10-year term in support of the company’s capital investment project in Cuyahoga Heights and Newburgh Heights (Cuyahoga County). The value of the tax credit is estimated at $15,627,375 over the term, and the company would be required to maintain operations at the project site for 13 years. Located in the Cleveland area since 1917, Alcoa Cleveland Works manufactures forgings for the automotive, commercial vehicle, aerospace, and industrial products industries. The project encompasses a variety of projects necessary to maintain and grow the Cleveland Works business, including infrastructure and site improvements, machinery and equipment acquisition, and repairs to a 50,000 ton press. This more-than $111 million project is expected to retain 1,000 positions.
AssureRx, LLC has been awarded a 50 percent job creation tax credit for a six-year term in support of the company’s relocation to a site to be determined in Warren County. The value of the tax credit is estimated at $187,528 over the term, and the company would be required to maintain operations at the project site for 12 years. AssureRx, LLC, is a personalized medicine company which specializes in pharmacogenetics and is dedicated to helping physicians determine the right drug at the right dose for individual patients suffering from medical conditions. The company was founded in June 2006 to license and commercialize the industry-leading personalized medicine technology of Cincinnati Children's Hospital Medical Center and Mayo Clinic. The project involves facility upgrade and machinery and equipment acquisition. This $350,000 project is expected to create 30 positions and retain seven jobs.
Atlantic Inertial Systems, Inc. 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 Heath (Licking County). The value of the tax credit is estimated at $69,572 over the term, and the company would be required to maintain operations at the project site for 12 years. Atlantic Inertial Systems is a leading aerospace and electronics supplier for the U.S. Department of Defense and of mission critical hardware to 250 programs in 28 countries. The project includes a newly constructed 16,300 square-foot facility at the Central Ohio Aerospace & Technology Center for inertial sensor research and development operations. This more-than $3 million project is expected to create 10 positions and retain 47 jobs.
Atrium Assembly Corp., Atrium Buying Corp., & Atrium Real Estate II, LLC has been awarded a 40 percent job creation tax credit for a six-year term for its expansion in the Village of Johnstown (Licking County). The value of the tax credit is estimated at $27,040 over the term, and the company would be required to maintain operations at the project site for 12 years. Atrium, founded in 1993, is involved in product development, merchandising, and global sourcing of products including apparel and apparel accessories, footwear and fashion bags. The project involves facility expansion and the acquisition of machinery and equipment. This more-than $3.4 project is expected to create 25 positions and retain 117 jobs.
Collectcorp Corp. has been awarded a 35 percent job creation tax credit for a five-year term as a result of the company’s new location in the City of Middleburg Heights (Cuyahoga County). The value of the tax credit is estimated at $115,555 over the term, and the company would be required to maintain operations at the project site for 10 years. Collectcorp collects accounts receivable, primarily for large financial institutions and student loans for the U.S. Department of Education, as well as provides call center functions to some institutions. The project involves leasehold improvements as well as the acquisition of machinery and equipment. This more-than $325,000 project is expected to create 125 positions.
Ed Map, Inc. has been awarded a 50 percent job creation tax credit for a five-year term as a result of the company’s expansion in the City of Athens (Athens County). The value of the tax credit is estimated at $77,742 over the term, and the company would be required to maintain operations at the project site for 10 years. Ed Map, founded in 2002 as a distributor of textbooks to distance learning programs and students, provides the products, services and support systems that make it possible for distance learning providers focused on a quality education. The project involves leasehold improvements as well as the acquisition of machinery and equipment. This more-than $1.3 million project is expected to create 40 positions and retain 92 jobs.
JPMorgan Chase Bank, National Association, JPMorgan Chase & Co. have been awarded a 75 percent job creation tax credit for a 15-year term as a result of the company’s expansion in the cities of Columbus and Westerville (Franklin County). The value of the tax credit is estimated at $14,013,575 over the term, and the company would be required to maintain operations at the project site for 30 years. JPMorgan, a bank holding company, was founded in 1823 with its headquarters residing in New York, New York. The company provides a range of financial services worldwide, operating in six segments including investment banking, commercial banking, treasury and securities services, asset management, retail financial services, and card services. The project in the City of Columbus and the City of Westerville includes the expansion of five existing JPMorgan facilities, consisting of extensive leasehold improvements and the acquisition of machinery and equipment. This more-than $14 million project is expected to create 1,150 positions and retain 13,362 jobs.
Limbach Company LLC has been awarded a 45 percent job creation tax credit for a six-year term as a result of the company’s new location in the City of Columbus (Franklin County). The value of the tax credit is estimated at $122,813 over the term, and the company would be required to maintain operations at the project site for 12 years. Limbach, founded in Pittsburgh in 1901, is one of the nation's largest providers of mechanical, electrical, and facility management services. The project includes building renovations and machinery and equipment acquisition. This more-than $1.1 million project is expected to create 28 positions and retain 115 jobs.
Max-Wellness, LLC has been awarded a 55 percent job creation tax credit for a seven-year term as a result of the company’s headquarters expansion in the City of Warrensville Heights (Cuyahoga County). The value of the tax credit is estimated at $847,366 over the term, and the company would be required to maintain operations at the project site for 14 years. Max-Wellness is a general wellness retailer featuring traditional vitamins, supplements, herbs, homeopathy, and personal healthcare items including self-care, durable medical equipment and daily living aids. The project involves leasehold improvements as well as the acquisition of machinery and equipment. This more-than $263,000 project is expected to create 150 positions and retain nine jobs.
Morgan Engineering Systems, Inc. has been awarded a 40 percent job creation tax credit for a five-year term as a result of the company’s expansion in the City of Alliance (Stark County). The value of the tax credit is estimated at $49,301 over the term, and the company would be required to maintain operations at the project site for 10 years. Morgan has a rich history dating back to 1868 and has grown to be a world leader in material handling systems for the metals industry. The project includes facility renovations and the acquisition of machinery and equipment. This $1.5 million project is expected to create 35 positions and retain 79 jobs.
Pakmark, 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 Vandalia (Montgomery County). The value of the tax credit is estimated at $61,800 over the term, and the company would be required to maintain operations at the project site for 12 years. Pakmark provides a wide array of large format lithographic and digital printing services throughout the country, combining cutting-edge pre-press technology and printing equipment that deliver superior print quality, as well as folding carton container design and production. The project includes the acquisition of machinery and equipment. This $1.9 million project is expected to create 25 positions.
Thirty One Gifts, LLC has been awarded a 45 percent job creation tax credit for a six-year term for the creation of 75 new full time jobs as result of the company’s expansion in the Village of Johnstown (Licking County). The value of the tax credit is estimated at $114,101 over the term, and the company would be required to maintain operations at the project site for 12 years. Founded in 2003, Thirty One Gifts is a direct selling business with more-than 6,000 sales consultants across the United States. The $5.5 Million project includes building improvements, on-site infrastructure upgrades, and land acquisition.
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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