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  OHIO JOB
CREATION TAX CREDIT AUTHORITY APPROVES TAX CREDITS FOR CBS BORING & MACHINE COMPANY
AND 19 OTHER BUSINESS EXPANSION PROJECTS
FOR IMMEDIATE RELEASE Columbus,
OH -- Governor Bob Taft today
announced that the Ohio Tax Credit Authority approved tax credits
for 20 Ohio companies involved in business location or expansion
projects. The projects are expected to create 1,742 jobs and retain
2,537 jobs while investing more than $141.5 million in the state’s
economy. The projects are also expected to generate an estimated
$7.4 million in net new state income taxes over 10 years.
The Authority granted tax
credits to the following companies:
InnoPlas Corp., located in Kenton (Hardin County), will receive a 50 percent tax credit for a five-year term to expand operations. The company plans to construct an 80,000 square-foot building and purchase manufacturing equipment. InnoPlas is a custom thermoplastic injection molder serving approximately 30-35 companies in industries including: automotive, thermal switches, electronic, construction, electrical consumer products, medical and others. The $2.2 million project is expected to create 40 jobs within the first three years of operation and retain 80. Lerner, Sampson & Rothfuss, Inc. and AccuTitle Agency, Inc., located in Cincinnati (Hamilton County), will receive a 55 percent tax credit for a five-year term to expand operations. The company will lease an additional 20,000 square feet of office space at its downtown facility to handle an increased caseload. Lerner, Sampson & Rothfuss represents some of the nation’s largest mortgage bankers in their traditional loan servicing needs, including residential and commercial. The company shares common ownership with AccuTitle, a title insurance agency. Ohio was in competition with Kentucky for this $225,000 project, which is expected to create 75 jobs within the first three years of operation and retain 246. Audiopack Technologies, Inc., located in Garfield Heights (Cuyahoga County), will receive a 55 percent tax credit for a six-year term to expand operations and relocate its headquarters. The company plans to move operations from its current 23,000 square-foot facility in Cleveland to a 51,000 square-foot facility in Garfield Heights. The new facility will serve as the company’s headquarters, research and development, manufacturing and distribution center. Audiopack is the world’s leading designer and manufacturer of wireless communications systems for use in extreme environments. The company has seen an increased demand for its products, especially in the military and safety forces arena. The $1.3 million project is expected to create 20 jobs within the first three years of operation and retain 27. Teleflex, Inc., located in Van Wert (Van Wert County), will receive a 55 percent tax credit for a seven-year term to expand operations. The company plans to acquire seven molders to meet production demands. Teleflex manufactures automotive cable parts, producing 12 million cables annually. Ohio was in competition with Indiana and Michigan for this $922,000 project, which is expected to create 35 jobs within the first three years of operation and retain 508. McCarthy, Burgess & Wolff, located in Bedford Heights (Cuyahoga County), will receive a 55 percent tax credit for a seven-year term to expand operations. The company plans to expand its corporate facility, converting warehouse space to office space. McCarthy, Burgess & Wolff provides tax return and collection service to companies including Sprint PCS, Ameritech SBC and Viking Office Products. Ohio was in competition with New Mexico for this $527,000 project, which is expected to create 36 jobs within the first three years of operation and retain 39. Fields Process Technology, Inc., located in Cleveland (Cuyahoga County), will receive a 55 percent tax credit for a five-year term to begin operations. The company plans to lease a 12,000 square-foot facility. Fields Process Technology is a start-up company that plans to assemble plastic and rubber components for consumer products, sub-assembly for automotive components and packaging for automotive sub-assembly units. The $1.7 million project is expected to create 45 jobs within the first three years of operation and retain one. North American Science Associates (NAMSA), Inc., located in Northwood (Wood County), will receive a 55 percent tax credit for an eight-year term to expand operations. The company plans to construct a 50,000 square-foot toxicology headquarters and administration building. NAMSA provides non-clinical testing and consulting services to the medical device industry and manufactures sterility monitoring indicators for the industrial sterilizing market. Ohio was in competition with California, Georgia and Michigan for this $6.5 million project, which is expected to create 25 jobs within the first three years of operation and retain 151. Ohio Precious Metals, Inc., located in Jackson (Jackson County), will receive a 55 percent tax credit for a 10-year term to expand operations. The company has acquired a 158,000 square-foot building that will be renovated and outfitted with new equipment. Ohio Precious Metals refines gold, silver, platinum and palladium. It is one of three refiners in the United States that refines 99.999 percent gold, which is essential in the production of computer chips. Ohio was in competition with Massachusetts for this $4.5 million project, which is expected to create 35 jobs within the first three years of operation and retain 22. Smart Papers, LLC, located in Hamilton (Butler County), will receive a 60 percent tax credit for a five-year term to expand operations. The company plans to upgrade equipment and process systems, improve reliability, reduce costs and increase system flexibility to better position the business in the premium paper industry. Smart Papers produces premium specialty papers, manufacturing high-quality products used in high-end applications such as annual reports, labels and ticket stock. The company ships approximately 125,000 tons of paper products annually. The $6.1 million project is expected to create 30 jobs within the first three years of operation and retain 597. International Paper Company, located in Hamilton (Butler County), will receive a 60 percent tax credit for a five-year term to expand operations. The company will utilize existing paper manufacturing equipment, which is currently idle two days per week. International Paper plans to increase the volume of premium writing, cover and text paper to full capacity and include products not previously manufactured at the facility. The $4.9 million project is expected to create 30 jobs within the first three years of operation and retain 219. NeoMed Technologies, located in Cleveland (Cuyahoga County), will receive a 60 percent tax credit for a six-year term to begin operations. The company is a start-up firm committed to becoming the nation’s leading provider of early diagnostic services for coronary artery disease. NeoMed will construct a patent-pending device, which indicates dynamic cardiac function, the cause of coronary artery disease. The initial prototype has yielded a detection rate of coronary artery disease with 98 percent accuracy, an improvement over current machines that yield only 70 percent accuracy. Ohio was in competition with Virginia for this $6 million project, which is expected to create 50 jobs within the first three years of operation. Dayton-Phoenix Group, Inc. (DPGI), located in Dayton (Montgomery County), will receive a 60 percent tax credit for a seven-year term to expand operations. The company plans to expand into excess space at its current location and add equipment. DPGI manufactures quality, high-performance electronic and electromechanical products for the North American transportation industry, including the locomotive market. Ohio was in competition with Indiana and Wisconsin for this $2.4 million project, which is expected to create 40 jobs within the first three years of operation and retain 210. O’Neil & Associates, Inc., located in Miamisburg (Montgomery County), will receive a 60 percent tax credit for a seven-year term to begin operations. The company plans to move from its 57,000 square-foot Dayton facility to a 74,000 square-foot facility in Miamisburg. O’Neil & Associates specializes in preparing technical publications for a diverse customer base. Ohio was in competition with Kentucky for this $4.9 million project, which is expected to create 75 jobs within the first three years of operation and retain 175. Annin & Co., Inc., located in Coshocton (Coshocton County), will receive a 60 percent tax credit for a seven-year term to expand operations. The company plans to consolidate its Newcomerstown and Coshocton operations into a new 102,000 square-foot facility to meet increased product demand. Annin & Co. manufactures and distributes of U.S., state and foreign flags, and flag-related products. The $2.2 million project is expected to create 100 jobs within the first three years of operation and retain 90. Huck International, Inc., located in Medina (Medina County), will receive a 60 percent tax credit for a 10-year term to expand operations. The company plans to relocate its manufacturing operations from its Altoona, Pennsylvania plant to Medina, make building improvements and relocate equipment to the 280,000 square-foot facility. Huck International manufactures a wide range of metal fasteners used in the automotive, rail and electronic industries. Ohio was in competition with New Jersey, Arizona and Texas for this $1.9 million project, which is expected to create 129 jobs within the first three years of operation and retain 162. American Aluminum Extrusion of Ohio, LLC, located in Plain Township (Stark County), will receive a 65 percent tax credit for an eight-year term to begin operations. American Aluminum recently acquired the former Albex Aluminum manufacturing facility and plans to restart the aluminum extrusion operation at the plant. Ohio was in competition with Wisconsin for this $5.2 million project, which is expected to create 140 jobs within the first three years of operation and retain 10. ArcLight Systems, LLC, located in Dublin (Franklin County), will receive a 70 percent tax credit for a five-year term to begin operations. The company is a start-up, stand-alone pharmaceutical information company that collects and reports information regarding pharmaceutical trends in America. ArcLight’s web-based, real-time prescription sales and market sharing data reporting products provide speed of delivery and detail level not currently available in today’s marketplace. Ohio was in competition with Nevada for this $325,000 project, which is expected to create 50 jobs within the first three years of operation and retain one. Cardinal Health, Inc., located in Dublin (Franklin County), will receive a 70 percent tax credit for a 10-year term to expand operations and acquire additional machinery and equipment. The expanded facility will provide corporate shared services and support to Cardinal Health and its operational subsidiaries allowing the company to consolidate the recently acquired Bindley Western (Indianapolis, Indiana) positions into the Dublin location. Cardinal Health provides products and services that support the health-care industry. Ohio was in competition with Indiana, Illinois and Texas for this $14 million project, which is expected to create 150 jobs within the first three years of operation. Wal-Mart Stores East, Inc., located in Island Creek Township (Jefferson County), will receive a 75 percent tax credit for a 10-year term to begin operations. Wal-Mart plans to construct an 880,000 square-foot grocery distribution facility. The facility will include both perishable and non-perishable grocery items. Ohio was in competition with West Virginia and Pennsylvania for the $40 million project, which is expected to create 600 jobs within the first three years of operation. Contact: Maria Smith or Gail Crawley, Ohio Department of Development, at 614-466-2609; or Joe Andrews, Governor’s Office, at 614-644-0957. |
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