[jsfg_cinti] Fw: ODOD Press Release



----- Original Message -----
From: "Ohio Department of Development" <connect@xxxxxxxxxxxxxxxx>
To: "Edd Stephens" <estephens@xxxxxxxxxxxx>
Sent: Monday, April 28, 2003 5:21 PM
Subject: ODOD Press Release


>
> OHIO JOB CREATION TAX CREDIT AUTHORITY APPROVES TAX CREDITS FOR 12
> BUSINESS EXPANSION PROJECTS
>
> FOR IMMEDIATE RELEASE
> 4.28.2003
>
> Columbus, OH - Governor Bob Taft today announced that the Ohio Tax Credit
> Authority approved tax credits for 12 Ohio companies involved in business
> location or expansion projects.  The projects are expected to create 679
> jobs and retain 1,664 positions while investing nearly $44.5 million in
> fixed assets.  Two of the approved projects expect to hire highly skilled
> workers at hourly rates of between $52 and $113.86, with up to $34.16 an
> hour in benefits.
>
> Since the inception of the Job Creation Tax Credit program in February
> 1993, the program has recorded some 790 active projects, representing
> companies that have invested approximately $11.8 billion in the state's
> economy.  These projects are expected to create more than 94,098 jobs and
> retain more than 133,090 positions.
>
> The five-member Authority oversees the Job Creation Tax Credit program and
> determines an applicant company's eligibility, percent and term.
>
> The Job Creation Tax Credit is a refundable tax credit against the
> business corporate franchise or income tax.  The credit equals a
> percentage of new state income tax withheld on new full-time employees.
>
> The Authority granted tax credits to the following companies:
>
>
>
> <b>Dunnhumby USA Company</b>, to be located in Cincinnati (Hamilton
> County), will receive a 75 percent tax credit for a 10-year term to begin
> operations.  The company will provide a complete range of customer
> marketing services to U.S. clients that include: TESCO, BMW, Coca-Cola,
> Johnson & Johnson, Procter & Gamble and the Kroger Company.  The company
> plans to enter into a lease agreement for at least 16,000 square feet of
> office space.  Ohio is in competition with Kentucky for this $2.5 million
> project that is expected to create 106 jobs within the first three years
> of operation.  The company expects to hire highly skilled workers at an
> average hourly wage of $113.86, plus $34.16 in benefits.
>
> <b>Limited Technology Services, Inc. (LTS) and MAST Industries</b>,
> located in Columbus (Franklin County), will receive a 60 percent tax
> credit for a 10-year term to expand operations.  The companies are wholly
> owned subsidiaries of Limited Brands.  MAST provides contract
> manufacturing, importing and distribution services to the various entities
> of Limited Brands.  LTS provides technological services that include
> computer, networking and communications systems to Limited Brands.  MAST
> plans to relocate its headquarters to 10,500 square feet of available
> space at Limited Brands headquarters.  For this project, the LTS positions
> that provide direct support to MAST's headquarters will relocate to
> Columbus from Andover, Massachusetts.  Ohio is in competition with New
> York for this $1 million project, which is expected to create 51 jobs
> within the first three years of operation and retain 609 positions.  The
> company expects to hire highly skilled workers at an average hourly wage
> of $52.79, plus $17.60 in benefits.
>
> <b>AFC Stamping and Production, Inc.</b>, located in Harrison Township
> (Montgomery County), will receive a 50 percent tax credit for a five-year
> term to expand and relocate operations.  The company manufactures welded
> tube assemblies for the All-Terrain Vehicle market and also manufactures
> gas filler tubes for the auto industry.  AFC Stamping needs additional
> manufacturing space to accommodate new business from Honda of America and
> several other customers.  The company plans to relocate its Beavercreek
> facility, and three sister operations, to a 296,000 square-foot facility
> in Harrison Township.  Ohio was in competition with states in the southern
> U.S. for this $500,000 project, which is expected to create 25 jobs within
> the first three years of operation and retain 149 positions.
>
> <b>LOGTEC, Inc.</b>, located in Fairborn (Greene County), will receive a
> 50 percent tax credit for a 10-year term to expand operations.  LOGTEC is
> a logistics information technology company with a client base of
> government and private industry, providing products and services to
> clients in the following areas:  logistics processes, acquisition,
> functional processes, products data, software development, data
> management, enterprise services, network services and contingency
> planning.  LOGTEC plans to construct a 45,000 square-foot headquarters
> building and purchase new machinery and equipment.  Ohio was in
> competition with Alabama and Georgia for this $4.1 million project, which
> is expected to create 26 jobs within the first three years of operation
> and retain 59 positions.
>
> <b>Marketing Research Services</b>, Inc. (MRSI), located in Cincinnati
> (Hamilton County), will receive a 55 percent tax credit for a five-year
> term to expand operations.  The company is a full-service custom marketing
> research firm with a client list that includes:  McDonalds, Phillip
> Morris, Kellogg's, Eli Lilly, Heinz, Jergens and Procter & Gamble.  MRSI
> plans to relocate within Cincinnati to a 25,000 square-foot facility and
> purchase new machinery and equipment.  Ohio was in competition with
> Kentucky for this $122,000 project, which is expected to create 15 jobs
> within the first three years of operation and retain 64 positions.
>
> <b>Barnes Group, Inc.</b>, located in Cleveland (Cuyahoga County), will
> receive a 55 percent tax credit for a five-year term to expand operations.
> The company is an industry leader in the distribution of maintenance,
> repair and operating supplies, industrial, construction, transportation
> and other markets.  Barnes plans to make leasehold improvements and
> purchase machinery and equipment it needs as it consolidates the former
> Kar Products' Illinois headquarters into the Cleveland operation.  The
> $130,000 project is expected to create 20 jobs within the first three
> years of operation and retain 226 positions.
>
> <b>Airfasco, Inc.</b>, located in Canton Township (Stark County), will
> receive a 55 percent tax credit for a five-year term to expand and
> consolidate operations. The company is one of the world's leading
> manufacturers and suppliers of specialty aircraft fasteners.  Airfasco
> products are found on civilian and military aircraft as well as the
> International Space Station and the space shuttle.  The company plans to
> lease a larger facility to consolidate its North Canton and Talma, Indiana
> operations and its Cleveland warehouse.  Ohio was in competition with
> Indiana for this $510,000 project that is expected to create 25 jobs
> within the first three years of operation and retain 23 positions.
>
> <b>J.T.M. Provisions, Inc.</b>, located in Harrison (Hamilton County),
> will receive a 55 percent tax credit for a six-year term to expand
> operations.  The company produces meat products for the food service and
> school food service industries, retail operations and the military.
> J.T.M. plans to construct a 30,000 square-foot addition to its food
> processing manufacturing facility and purchase new machinery and
> equipment.  Ohio was in competition with Indiana for this $6.9 million
> project, which is expected to create 30 jobs within the first three years
> of operation and retain 240 positions.
>
> <b>Steel Technologies Corp.</b>, located in Ottawa (Putnam County), will
> receive a 55 percent tax credit for a seven-year term to expand
> operations.  The company purchases commercial-tolerance steel in coils up
> to 72 inches wide from steel mills and processes it to customer
> specifications.  Steel Technologies recently acquired the assets of Cold
> Metal Products and intends to establish operations at the former company
> site and purchase machinery and equipment.  The $3.5 million project is
> expected to create 35 jobs within the first three years of operation and
> retain 30 positions.
>
> <b>Aurum Partners I, Inc.</b>, located in Columbus (Franklin County), will
> receive a 60 percent tax credit for a five-year term to expand operations.
> The company provides information technology outsourcing for mid-market
> companies.  Aurum plans to extend its lease on 20,000 square feet of
> space, perform leasehold improvements and invest in fixed assets,
> machinery and equipment.  Ohio was in competition with Michigan for this
> $250,000 project, which is expected to create 65 jobs within the first
> three years of operation and retain 10 positions.
>
> <b>Colfor Manufacturing, Inc.</b>, located in Minerva (Carroll County),
> will receive a 60 percent tax credit for an eight-year term to expand
> operations.  The company manufactures cold and warm, precision-machined
> forgings for applications in the automotive, truck and recreational
> vehicle industries.  Colfor plans to expand its manufacturing facility to
> accommodate a new customer that will be a tier-one supplier to General
> Motors for its new six-speed, rear wheel drive transmission. The $24.1
> million project is expected to create 131 jobs within the first three
> years of operation and retain 235 positions.
>
> <b>Techni Graphic Systems, Inc. (TGS)</b>, located in Wooster (Wayne
> County), will receive a 60 percent tax credit for an eight-year term to
> expand operations.  The company provides Geographic Information Systems
> (GIS) consulting, high-quality data conversion, automated mapping and
> scanning services to a variety of government and commercial clients.  TGS
> was recently awarded a prime contract for the U.S. Department of Defense's
> National Imagery and Mapping Agency and will increase its current space by
> 10,000 square feet over the next three years.  To accommodate the
> expansion, TGS will make leasehold improvements and purchase machinery and
> equipment.  Ohio was in competition with Louisiana for this $920,000
> project that is expected to create 150 jobs within the first three years
> of operation and retain 19 positions.
>
>
> <center>###</center>
>
> Contact: Maria Smith or Gail Crawley, Ohio Department of Development, at
> 614-466-2609; or Orest Holubec, Governor's Office, at 614-644-0957.
>
>
>

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