Ohio Tax Credit Authority approves projects to generate $76 million in payroll

Photo/GM

DAYTON, Ohio (WDTN) – Among the 14 projects the Ohio Tax Credit Authority approved Monday are multiple Miami Valley-based businesses.

The approval of assistance for fourteen projects set to create 1,814 new jobs and retain 3,081 jobs statewide, according to a press release from Ohio Governor John Kasich’s Office. “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 $76 million in new payroll, and spur more than $230 million in investment across Ohio,” according to the release.

Dmax, Ltd., in Moraine “expects to create 150 full-time positions, generating $4.4 million in new annual payroll and retaining $35 million in existing payroll as a result of the company’s expansion project in the City of Moraine (Montgomery Co.). Dmax manufactures diesel engines for trucks. The TCA approved a 0.926 percent, six-year Job Creation Tax Credit for this project,” according to a release from Kasich’s office.

Frontier Technology Corporation, in Beavercreek “expects to create 45 full-time positions, generating $4.1 million in new annual payroll and retaining $2.5 million in existing payroll as a result of the company’s expansion project in the City of Beavercreek (Greene Co.). Frontier Technology integrates system engineering and operations research methodologies with information technology solutions. The TCA approved a 1.772 percent, seven-year Job Creation Tax Credit for this project,” according to the release.

Silfex, Inc., in Eaton “expects to create 109 full-time positions, generating $5 million in new annual payroll and retaining $20 million in existing payroll as a result of the company’s expansion project in the City of Eaton (Preble Co.). Silfex provides high purity custom silicon components and assemblies that serve a broad base of high technology markets. The TCA approved a 1.321 percent, seven-year Job Creation Tax Credit for this project,” according to the release.

Tenneco Automotive Operating Company Inc., in Kettering “expects to create 483 full-time positions, generating $15.8 million in new annual payroll and retaining $22.8 million in existing payroll as a result of the company’s expansion project in the City of Kettering (Montgomery Co.). Tenneco designs, manufactures and distributes automotive ride control and emission control products and systems. The TCA approved a 1.724 percent, nine-year Job Creation Tax Credit for this project,” according to the release.

Ohio Governor John Kasich has

WDTN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s