COLUMBUS, Ohio (WJW) — Seven Northeast Ohio companies expecting to create nearly 900 new jobs and generate more than $40 million in annual payroll were awarded tax breaks by the Ohio Tax Credit Authority.
The authority at its monthly meeting reviewed economic development proposals expected to spur $203 million in investments across Ohio, according to a Wednesday news release from Gov. Mike DeWine and Lt. Gov. Jon Husted. Of the 14 projects awarded Job Creation Tax Credits, seven are in Northeast Ohio.
Here’s a look at the local companies getting tax breaks:
Acorn Stairlifts Inc. — Sheffield Township, Lorain County
- What it’s doing: The company manufactures and installs in-home stairlifts and has a new location project in the township.
- Jobs to be created: 125 full-time positions
- Annual payroll to be generated: $5.4 million
- Job Creation Tax Credit approved: 1.29% for eight years
MUM Industries Inc. — Mentor, Lake County
- What it’s doing: The company manufactures enclosures for electrical equipment and is expanding in the city.
- Jobs to be created: 45 full-time positions
- Annual payroll to be generated: $2.1 million; also retaining $4.3 million in existing payroll
- Job Creation Tax Credit approved: 1.127% for six years
Momentive Performance Materials Quartz Inc. — Strongsville, Cuyahoga County
- What it’s doing: The company produces quartz and ceramic used in semiconductors and microchips and is expanding in the city.
- Jobs to be created: 97 full-time positions
- Annual payroll to be generated: $7 million; also retaining $46.1 million in existing payroll
- Job Creation Tax Credit approved: 1.584% for eight years
Crane Carrier Co. LLC — New Philadelphia, Tuscarawas County
- What it’s doing: The company produces custom, severe-service chassis and purpose-built vehicles for various industries and has an acquisition project in the city.
- Jobs to be created: 434 full-time positions
- Annual payroll to be generated: $18 million; also retaining $13.7 million in existing payroll
- Job Creation Tax Credit approved: 1.464% for 10 years
Knight Material Technologies LLC — Canton, Stark County
- What it’s doing: The company, formerly Koch Knight, manufactures ceramic mass transfer and acid-proof equipment and is expanding in the city.
- Jobs to be created: 45 full-time positions
- Annual payroll to be generated: $2.5 million; also retaining $5.9 million in existing payroll
- Job Creation Tax Credit approved: 1.25% for six years
Biery Cheese Co. — Louisville, Stark County
- What it’s doing: The company is a value-added processor of cheese products and is consolidating in the city.
- Jobs to be created: 51 full-time positions
- Annual payroll to be generated: $2.2 million; also retaining $18 million in existing payroll
- Job Creation Tax Credit approved: 1.13% for six years
Shambaugh & Son LP — Brookfield Township, Trumbull County
- What it’s doing: The company specializes in retrofit construction projects for a variety of industries and has a new location project in the township.
- Jobs to be created: 75 full-time positions
- Annual payroll to be generated: $4.1 million
- Job Creation Tax Credit approved: 1.417% for seven years
Another seven awards were for business proposals expected to create about 700 new jobs in Franklin, Greene, Hamilton, Jackson and Sandusky counties.