Coshocton, Ohio – In a move expected to boost Coshocton’s economy, Governor Mike DeWine, Lt. Governor Jim Tressel, and Ohio Department of Development Director Lydia Mihalik announced the approval of a significant new project by Fox Tank Company that will create nearly 90 new jobs.
Economic Growth Fueled by Relocation
During the latest monthly meeting of the Ohio Tax Credit Authority (TCA), board members reviewed and approved an economic development proposal presented by JobsOhio and its regional partners. The project centers on the Fox Tank Company, which specializes in manufacturing steel storage tanks and ASME-certified pressure vessels for use in the oil and gas industry.
As part of the expansion, Fox Tank will acquire assets from a recently closed company and relocate its manufacturing operations to Coshocton. This strategic move is aimed at placing operations closer to Ohio’s shale-rich region, enabling the company to expand its capabilities and improve efficiency within its core market.
The relocation is expected to result in the creation of 89 full-time-equivalent positions. These new roles will generate approximately $7.4 million in annual payroll for the Coshocton area, providing a major economic boost to the community.
Tax Credit to Support Job Creation
To support this project, the TCA approved a 1.48 percent, eight-year Job Creation Tax Credit. This tax credit is performance-based, meaning that the final value of the credit will depend on the actual number of jobs created and the total payroll generated. The state will verify all reported figures before finalizing the benefit.
“Fox Tank’s decision to invest in Coshocton reflects Ohio’s continued momentum in energy and manufacturing,” said Governor DeWine. “This project is about more than just job numbers—it’s about long-term growth and local opportunity.”
Lt. Governor Tressel echoed the enthusiasm, emphasizing that projects like this show Ohio’s potential to lead in both innovation and job creation across key industries.
The Coshocton community now looks ahead with optimism as this project brings not only new jobs but also renewed industrial strength to the region.
