Business  |  Tax Incentives


MAVAL MFG. INC. & LAVAM PROPERTY DEVELOPMENT
Agreement #065-05-01
Zone 065

Agreement Information
Community: TWINSBURG (TOWNSHIP OF)      ODOD Status: Terminate
County: SUMMIT      Agrmt Date: 2/9/2005
Local School District:      Amend. Date:
Nature of Business: MANUFACTURING      Expiration Date: 12/31/2016
School Comp Agreement: No      Revenue Sharing: No
Estimated Annual School Compensation SIC Code: 339900

Real Property
Acquisition Improvements New Construction Total
Investments $0.00 $0.00 $900,000.00 $900,000.00
Exemptions $0.00 $900,000.00 $900,000.00
 

Personal Property
M & E F & F Inventory Total
Investments $180,000.00 $0.00 $450,000.00 $630,000.00
Exemptions $180,000.00 $0.00 $450,000.00 $180,000.00
 

Incentives
Variable Rate Rate Term
Real No $65.00% 10 yrs
Personal No $65.00% 10 yrs
 

Relocations
From Out of State: No State: Jobs: 0
In State: No Community: Jobs: 0
Waiver Issued by ODOD: None
 

Employment
Existing Employment Job and Payroll Commitments
Employment at site: 90      Number Payroll
Employment in Ohio: 90      Retained 90 $3,180,000.00
     Fulltime Permanent 24 $600,000.00
     Fulltime Temporary 0 $0.00
     Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 36 months
 

Performance/Compliance
 
Agreement Status is: Terminate
Total full time equivalents at Site: 145      Cumulative Taxes
Jobs Created: 25 Real Property Taxes Paid: $220,718.00
Jobs Retained: 100 Real Property Taxes Forgone: $146,729.00
Total FTE in Ohio: $145.00 Personal Property Taxes Paid: $6,550.00
New Payroll: $468,000.00 Personal Prop. Taxes Forgone: $12,614.00
Project Investment Local Corp Income Taxes Paid: $0.00
Real Property: $1,031,790.00 Other Tax Incentives: $0.00
Personal Property: $1,163,575.00 TIRC Date: 6/16/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $0.00 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $15,178.00
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid: $0.00

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