At its latest meeting, the Ohio Tax Credit Authority approved state assistance for seven projects that are set to bring $193 million in investment and create 839 new jobs and retain 2,025 jobs statewide, resulting in $31.4 million in new payroll.
Of these, two are Greater Cincinnati economic development projects involving headquarter expansions in the Ohio cities of Blue Ash and Springdale.
Advanced Testing Laboratory, Inc., which provides scientific sourcing solutions for the consumer products, pharmaceutical and medical device sectors, is expanding its corporate headquarters and contract laboratory facility in Blue Ash, OH.
The $6.5 million expansion by Advanced Testing Laboratory will result in the creation of 54 new jobs and retain 84 existing jobs, in the process generating $2.2 million in new annual payroll and retaining $4.6 million in existing payroll. To support the expansion, the Ohio TCA has approved a 1.156 percent, five-year Job Creation Tax Credit (JCTC) for this project.
Ultimus Fund Solutions, LLC, a provider of mutual fund services, is planning to support ongoing strategic growth efforts and ventures into new business segments at its Cincinnati headquarters located in Springdale, OH. The company is investing $100,000 into this project, and expects to create 100 new jobs and retain 140 jobs, in the process generating $6 million in new annual payroll and retaining $7.1 million in existing payroll. The TCA has approved a 1.547 percent, seven-year JCTC for this project.
Kimm Coyner, vice president of business development and projects at regional economic development organization REDI Cincinnati, said in a statement that “We know our regional economy thrives when a range of industries chooses to locate and grow here.”
Other projects that have been approved for state assistance by the Ohio TCA are as follows:
United Parcel Service, Inc. – A UPS expansion in Columbus, OH is expected to create 75 full-time jobs. The TCA approved a 1.232 percent, six-year JCTC for this project.
Amazon.com.dedc, LLC – A new Amazon project in the City of Twinsburg, OH is expected to create 150 full-time jobs. The TCA approved a 1.113 percent, six-year JCTC for this project.
Bleckmann USA, LLC – Bleckmann operates logistics and distribution services to the retail and e-commerce industries throughout Europe. The company’s new project in the Village of Johnstown, OH is expected to create 200 new jobs. The TCA approved a 1.178 percent, seven-year JCTC for this project.
Dollar Shave Club, Inc. – This online retailer’s new project in Grove City, OH is expected to create 185 full-time jobs. The TCA approved a 1.222 percent, seven- year JCTC for this project.
Pulse Flow Technologies, Inc. – This company, which produces compression therapy equipment, is undertaking a new project in the City of Willoughby, OH that is expected to create 75 full-time jobs. The TCA approved a 1.539 percent, five-year JCTC for this project.