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Ohio incentives could lure more than 600 jobs to Cincinnati region

October 1, 2013  |  iMFLUX plans new manufacturing project; Systecon expands

Cincinnati Business Courier

Four Greater Cincinnati companies have been awarded tax credits to create jobs in Southwest Ohio, including one project that could bring more than 400 jobs to Lebanon.

MINTH North America Inc., which is planning a new location in the city of Lebanon, received a 70 percent, 12-year tax credit for The manufacturer of parts for passenger vehicles expects to create 418 full-time positions that will generate $12.6 million in additional annual payroll.

CE Power Solutions LLC of Cincinnati expects to create 24 full-time positions that will add $1.8 million to its annual payroll and retain $3.8 million in existing payroll as a result of its expansion project in the city. The company, which provides electrical systems solutions and services utility power plants, has been approved for a 40 percent, six-year tax credit for the project.

In West Chester, iMFLUX Inc. is planning a new project in a to-be-determined location. The planned growth is expected to create 221 full-time positions and $17.5 million in additional annual payroll. The subsidiary company of Procter & Gamble Co., which processes plastics, will receive a 60 percent, eight-year tax credit for the expansion.

A total of 18 new full-time positions generating $810,000 in additional payroll are expected to be created in West Chester at Systecon Inc. The designer and manufacturer of HVAC parts plans an expansion that has been approved for a 35 percent, five-year tax credit.

The Southwest Ohio projects are just four among 12 that were approved for tax credits by the Ohio Tax Credit Authority at its meeting on Monday. The companies are expected to create 1,265 jobs across the state and more than $66.4 million in new payroll while providing $187.4 million in investments.

 

http://www.bizjournals.com/cincinnati/news/2013/09/30/four-greater-cincinnati-companies-get.html?ana=e_du_pub&s=article_du&ed=2013-09-30