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New Projects Expected to Create More than $119 Million in New Investments

COLUMBUS – Today Governor John R. Kasich announced the approval of assistance for 6 projects set to create 1,280 new jobs and retain 3,019 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 $54 million in new payroll, and spur more than $119 million in investments across Ohio.

Projects approved by the TCA include:

NORTHEAST

AeroControlex Group, Inc., City of Painesville (Lake Co.), expects to create 40 full-time positions, generating $2.3 million in new annual payroll and retaining $10.2 million in existing payroll as a result of the company’s expansion project in the City of Painesville (Lake Co.). AeroControlex Group designs, develops and produces control valves, pumps and control assemblies for the aerospace, marine and nuclear industries among others. The TCA approved a 1.392 percent, six-year Job Creation Tax Credit for this project.

NORTHWEST

TPAM INC. (Topia), City of Toledo (Lucas Co.), expects to create 30 full-time positions, generating $1.7 million in new annual payroll as a result of the company’s new project in the City of Toledo (Lucas Co.). Topia provides automotive, aerospace and industrial product prototyping. The TCA approved a 1.301 percent, six-year Job Creation Tax Credit for this project.

Walgreen Co. (Walgreens), City of Perrysburg (Wood Co.), expects to create 350 full-time positions, generating $15.4 million in new annual payroll and retaining $27.4 million in existing payroll as a result of the company’s expansion project in the City of Perrysburg (Wood Co.). Walgreens is a U.S. drug retail chain. The TCA approved a 1.741 percent, nine-year Job Creation Tax Credit for this project.

CENTRAL

Macy's Corporate Services, Inc., City of Columbus (Franklin Co.), expects to create 410 full-time positions, generating $13.6 million in new annual payroll as a result of the company’s new project in the City of Columbus (Franklin Co.). Macy's Corporate Services is a U.S. department store chain. The TCA approved a 1.412 percent, eight-year Job Creation Tax Credit for this project.

Stonecrop Technologies, LLC, City of Grove City (Franklin Co.), expects to create 50 full-time positions, generating $2.2 million in new annual payroll as a result of the company’s new project in the City of Grove City (Franklin Co.). Stonecrop Technologies provides network installation, operational support, maintenance, repair and training services. The TCA approved a 1.231 percent, six-year Job Creation Tax Credit for this project.

SOUTHWEST

U.S. Bank National Association, City of Cincinnati (Hamilton Co.), expects to create 400 full-time positions, generating $19.2 million in new annual payroll and retaining $160.7 million in existing payroll as a result of the company’s expansion project in the City of Cincinnati (Hamilton Co.). U.S. Bank is a federally chartered U.S. national banking association. The TCA approved a 2.1 percent, 10-year Job Creation Tax Credit for this project.