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Statewide Investments To Create $63 Million In New Payroll

COLUMBUS – Today Governor John R. Kasich announced the approval of assistance for six projects set to create 1,318 new jobs and retain 1,354 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 $63 million in new payroll, and spur more than $47 million in investments across Ohio.

Projects approved by the TCA include:

NORTHWEST

Magretech, LLC, City of Bellevue (Sandusky Co.) expects to create 35 full-time positions, generating $1.7 million in new, annual payroll and retaining $1 million in existing payroll as a result of the company’s acquisition project in the City of Bellevue (Sandusky Co.). Magretech recycles and reclaims magnesium scrap for automotive suppliers. The TCA approved a 1.138 percent, six-year Job Creation Tax Credit for this project.

NORTHEAST

Spirex Corporation, Austintown Township (Mahoning Co.) expects to create 143 full-time positions, generating $7.7 million in new, annual payroll and retaining $6.3 million in existing payroll as a result of the company’s expansion project in Austintown Township (Mahoning Co.). Spirex Corporation designs and manufactures plasticating unit products in North America. The TCA approved a 2.317 percent, eight-year Job Creation Tax Credit for this project.

Woodpeckers, Inc., City of Strongsville (Cuyahoga Co.) expects to create 50 full-time positions, generating $2.3 million in new, annual payroll and retaining $2.2 million in existing payroll as a result of the company’s expansion project in the City of Strongsville (Cuyahoga Co.). Woodpeckers manufactures measuring and layout tools, clamping devices and router plates, tables, lifts and fences. The TCA approved a 2.134 percent, six-year Job Creation Tax Credit for this project.

SOUTHWEST

Custom Pro Logistics, LLC, City of Cincinnati (Hamilton Co.) expects to create 40 full-time positions, generating $2.5 million in new, annual payroll and retaining $501,994 in existing payroll as a result of the company’s expansion project in the City of Cincinnati (Hamilton Co.). Custom Pro Logistics is a third party logistics broker.  The TCA approved a 1.215 percent, six-year Job Creation Tax Credit for this project.

Medpace, Inc., City of Cincinnati (Hamilton Co.) expects to create 650 full-time positions, generating $35.7 million in new, annual payroll and retaining $81.3 million in existing payroll as a result of the company’s expansion project in the City of Cincinnati (Hamilton Co.). Medpace is a clinical research organization and drug and medical device development service. The TCA approved a 2.500 percent, 15-year Job Creation Tax Credit for this project.

LOCATION TBD

BDO USA, LLP, (Location TBD) expects to create 400 full-time positions, generating $13.6 million in new, annual payroll as a result of the company’s new project at a to-be-determined location. BDO is an accounting, tax and advisory firm. The TCA approved a 1.657 percent, eight-year Job Creation Tax Credit for this project.