www.hsconnect.com
Firms invest $152M, create 700 jobs in Ohio
Edited by : AL CIRCLE
1 min read
Gov. John R. Kasich recently announced the approval of assistance for 11 projects set to create 733 jobs and retain 310 jobs statewide.
During its monthly meeting, the Ohio Tax Credit Authority 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 $152 million in investment across Ohio, according to officials.
One of those projects is in Columbiana County, Kasich officials said.
Pennex Aluminum Co. in Leetonia expects to create 65 full-time positions, generating $2.3 million and retaining $3 million in existing payroll as a result of the company's expansion project. Pennex Aluminum is an aluminum part manufacturer specializing in recycling industrial aluminum to create finished products. The TCA approved a 45 percent, six-year Job Creation Tax Credit for this project.
During its monthly meeting, the Ohio Tax Credit Authority 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 $152 million in investment across Ohio, according to officials.
One of those projects is in Columbiana County, Kasich officials said.
Pennex Aluminum Co. in Leetonia expects to create 65 full-time positions, generating $2.3 million and retaining $3 million in existing payroll as a result of the company's expansion project. Pennex Aluminum is an aluminum part manufacturer specializing in recycling industrial aluminum to create finished products. The TCA approved a 45 percent, six-year Job Creation Tax Credit for this project.
Previous article
OEMs press Alcoa to share aluminum-bonding process
Next articleNovelis: optimas gold winner for vision
Grow with
AL Circle
