Tax Breaks to Promote 4 Expansion Projects in Central Ohio
By Adrian Maties, Associate Editor
Four companies have been tapped for tax incentives intended to promote expansion in Central Ohio, state officials announced on June 24. The four are among 15 selected by the Ohio Tax Credit Authority for projects that are expected to create 831 jobs statewide during the next three years.
Persistent Systems Inc., a software and technology company, stands to receive tax breaks estimated at $186,278 and would add 30 jobs. Ohio, which wants to bring the company to Dublin, is competing with Seattle and Charlotte, North Carolina
Zipline Logistics will receive $101,067 in tax breaks and plans to move its headquarters from Grandview Heights to a bigger location in metropolitan Columbus, The Columbus Dispatch reported. The site is still undetermined, but the company said it expects to add 40 jobs over the next three years. Columbus Business First has included the company on its list of the fastest-growing Central Ohio companies for three years running.
NEX Transport Inc. plans to create 45 jobs as it moves from its current Logan County location to Zane Township. The company is to receive $43,243 in tax credits. It will also retain its existing workforce of 275.
ISS America, a manufacturer and distributor of automotive engine components, was chosen for $34,620 in incentives and will invest $3 million to expand its existing Bellefontaine facility, according to information on the Columbus 2020 website. The expansion is expected to create 20 new jobs over the next three years, quadrupling the company’s workforce in the region. According to the Dispatch, the expansion is expected to create 20 new jobs over the next three years, quadrupling the company’s workforce in the region.
The announcement of the tax breaks coincides with upbeat employment news. A recently released report from the Ohio Department of Job and Family shows the state’s employers added 32,100 jobs last month, best in the United States. Ohio’s unemployment rate remained unchanged at 7 percent last month, a performance that compares favorably to the national rate of 7.6 percent.
Photo credits: Ohio Development Services Agency – FacebookTags: Columbus, Columbus 2020, Columbus Lead Story, Developers, Development, economy, Finance/Investment, ISS America Inc., jobs, Local, National, NEX Transport Inc., Office, Ohio, Ohio Tax Credit Authority, Persistent Systems Inc., tax credits, Zipline Logistics LLC