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New Projects Expected to Create More than $8 Million in New Payroll

COLUMBUS – Today Governor John R. Kasich announced the approval of assistance for 3 projects set to create 105 new jobs and retain 139 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $8 million in new payroll, and spur more than $1 million in investments across Ohio.

Projects approved by the TCA include:

NORTHEAST

Boyd Watterson Asset Management, LLC, City of Cleveland (Cuyahoga Co.), expects to create 30 full-time positions, generating $3.9 million in new annual payroll and retaining $5.8 million in existing payroll as a result of the company’s expansion project in the City of Cleveland (Cuyahoga Co.). Boyd Watterson Asset Management is an investment advisory firm. The TCA approved a 1.451 percent, seven-year Job Creation Tax Credit for this project.

CENTRAL

Koorsen Fire & Security, Inc., City of Columbus (Franklin Co.), expects to create 25 full-time positions, generating $1 million in new annual payroll and retaining $3.4 million in existing payroll as a result of the company’s expansion project in the City of Columbus (Franklin Co.). Koorsen Fire & Security provides safety solutions, including fire alarm systems and business security alarms. The TCA approved a 0.991 percent, five-year Job Creation Tax Credit for this project.

Matic Insurance Services Inc., City of Columbus (Franklin Co.), expects to create 50 full-time positions, generating $3.3 million in new annual payroll and retaining $700,000 in existing payroll as a result of the company’s expansion project in the City of Columbus (Franklin Co.). Matic Insurance Services is a technology-driven insurance agency. The TCA approved a 1.62 percent, seven-year Job Creation Tax Credit for this project.