New Projects Expected to Create More than $35 Million in New Payroll

Feb 23, 2018 | News, Newsletter |

Todd Walker.
Ohio Development Services Agency.

Governor John R. Kasich announced the approval of assistance for 6 projects set to create 656 new jobs and retain 1,365 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 more than $35 million in new payroll, and spur more than $30 million in investments across Ohio.

Projects approved by the TCA include:

NORTHEAST

Fairmount Santrol Inc., City of Independence (Cuyahoga Co.) expects to create 27 full-time positions, generating $6.8 million in new annual payroll and retaining $7.7 million in existing payroll as a result of the company’s consolidation project in the City of Independence (Cuyahoga Co.). Fairmount Santrol provides high-performance sand and sand-based products for oil and gas exploration and production companies. The TCA approved a 2.609 percent, eight-year Job Creation Tax Credit for this project.

CENTRAL

Aetna Resources LLC, City of New Albany (Franklin Co.) expects to create 350 full-time positions, generating $14.2 million in new annual payroll and retaining $69.8 million in existing payroll as a result of the company’s expansion project in the City of New Albany (Franklin Co.). Aetna Resources sells health care insurance plans and related medical, pharmaceutical, dental, and behavioral health services. The TCA approved a 1.256 percent, eight-year Job Creation Tax Credit for this project.

Central Machinery Company, LLC, Marion Township (Marion Co.) expects to create 55 full-time positions, generating $3.2 million in new annual payroll and retaining $2.9 million in existing payroll as a result of the company’s expansion project in Marion Township (Marion Co.). Central Machinery Company performs laser cutting and welding, CNC machining, robotic and manual welding, stamping, and plasma cutting. The TCA approved a 1.438 percent, seven-year Job Creation Tax Credit for this project.

SOUTHWEST

Equator Design, Inc., City of Cincinnati (Hamilton Co.) expects to create 50 full-time positions, generating $3.5 million in new annual payroll as a result of the company’s new project in the City of Cincinnati (Hamilton Co.). Equator Design is a graphic design and production company. The TCA approved 1.398 percent, seven-year Job Creation Tax Credit for this project.

St. Bernard Soap Company, City of St. Bernard (Hamilton Co.) expects to create 112 full-time positions, generating $4.7 million in new annual payroll and retaining $9 million in existing payroll as a result of the company’s acquisition project in the City of St. Bernard (Hamilton Co.). St. Bernard Soap Company manufactures bar soap for various companies. The TCA approved 1.551 percent, eight-year Job Creation Tax Credit for this project.

Kadant Black Clawson LLC, City of Lebanon (Warren Co.) expects to create 62 full-time positions, generating $3.5 million in new annual payroll and retaining $7.4 million in existing payroll as a result of the company’s consolidation project in the City of Lebanon (Warren Co.). Kadant Black Clawson designs and manufactures products and systems used in industries ranging from paper and plastics to textiles and tires. The TCA approved a 1.687 percent, eight-year Job Creation Tax Credit for this project.

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