Ohio

Statewide economic growth expected from approved projects in Central, Northeast, and Southeast Ohio

Columbus, Ohio – Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced earlier this week that seven major projects have been approved for tax credits, contributing to economic growth in various parts of Ohio. The Ohio Tax Credit Authority (TCA), during its monthly meeting, approved proposals submitted by JobsOhio and its regional partners. These projects are set to create 458 new jobs and retain 357 positions statewide, generating more than $34 million in new payroll and driving over $132 million in investments.

Central Ohio Projects Lead the Way

In Central Ohio, two companies are set to create a significant number of new jobs. BBI Transportation, Inc. is expanding in Obetz and Columbus, creating 105 new jobs. The logistics and trucking service provider focuses on the Midwest and Southeast markets. With an estimated $5.9 million in new payroll, BBI Transportation has been awarded a 1.438%, eight-year Job Creation Tax Credit to support this development.

Cipted Corp, located in Lancaster, plans to create 18 full-time positions, with a projected payroll increase of more than $1.28 million. The company builds commercial truck bodies and has partnered with major auto manufacturers. Cipted Corp will receive a 1.169%, six-year Job Creation Tax Credit for its new location project.

Expanding Businesses in Northeast Ohio

In Northeast Ohio, Piston Automotive, LLC, located in Avon, will add 79 full-time jobs. The automotive supplier, specializing in chassis modules and logistics services, expects to generate $4.6 million in new payroll. The TCA has approved a 1.312%, eight-year Job Creation Tax Credit to help with this expansion.

Additionally, The Tranzonic Companies, based in Richmond Heights, will create 31 new positions, with an expected payroll increase of more than $2.8 million. The company, which manufactures cleaning and hygiene products, received approval for a 1.421%, eight-year Job Creation Tax Credit to support its growth.

National Electrical Carbon Products Expansion in Northwest Ohio

In Northwest Ohio, National Electrical Carbon Products, Inc., based in Fostoria, is set to create 124 new jobs with a projected payroll of over $11.4 million. The company, which manufactures carbon and graphite products for the electrical industry, has been awarded a 1.704%, nine-year Job Creation Tax Credit to support its expansion efforts.

New Opportunities in Southeast Ohio

Wedgewood Connect Ohio, LLC, a compounding pharmacy focusing on animal health medications, will create 51 new jobs in Albany, Athens County. With an anticipated payroll increase of more than $5 million, the company received a 1.54%, eight-year Job Creation Tax Credit to aid in its expansion.

Innovative Manufacturing in Licking County

Naraenanotech USA Inc., based in Hebron, will create 50 new full-time jobs, with a projected payroll of $3 million. The company specializes in industrial equipment manufacturing for industries like rechargeable batteries and semiconductors. To support its expansion, the TCA approved a 1.24%, seven-year Job Creation Tax Credit.

Looking Ahead to Job Creation and Investment

These seven projects reflect Ohio’s commitment to fostering economic growth and job creation across the state. “For the past two and a half years, we have driven record job growth and business investment despite inflationary headwinds from Washington,” said Governor DeWine. “This month’s numbers draw our full attention to the importance of continuing to drive forward pro-growth, business-friendly initiatives that keep Ohio accelerating.”

By providing these companies with job creation tax credits, Ohio ensures that businesses continue to invest in their communities while creating jobs that strengthen local economies. With over $132 million in investments and more than 800 jobs positively impacted, these projects will play a significant role in shaping Ohio’s economic landscape for the future.

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