Tax breaks go to projects expected to create 365 new jobs

The Ohio Tax Credit Authority Monday awarded a trio of Southwestern Ohio companies credits to fuel proposed expansions that would create an expected 365 new jobs.

In all, tax assistance was approved from 15 projects statewide, projects the state expects to create 1,328 total jobs while retaining 2,681 total jobs, according to Ohio Gov. John Kasich’s office.

Malt Products Corp. in Dayton expects to create 30 full-time jobs, generating $1.5 million in new annual payroll and retaining $1.76 million in current payroll in an expansion at the company’s Wolf Creek Pike plant.

Malt Products makes natural sweeteners. The $26 million expansion means building a new plant to brew the company’s malt extract that will go to the baking industry as an ingredient for bread, bagel and bun products. The expansion will involve building a brew house and a dry blending plant and expanding rail access. Grain will be brought in via rail, unloaded and used to produce malt extract, the company has said.

The Tax Credit Authority (TCA) approved a 45 percent, seven-year “job creation tax credit” for Malt Products.

In another local project, automation technology producer Festo Americas LLC, will open a Mason location, the state said.

Festo Americas expects to create 250 full-time positions, generating $10.3 million in annual payroll as a result, the state said. Festo specializes in manufacturing and process automation. A message seeking information about the location was left with a company spokeswoman.

The TCA approved a 70 percent, 12-year tax credit for the project.

And in Wilmington, Timbertech Limited expects to create 85 full-time jobs, generating $2.7 million in new annual payroll and retaining $13 million in existing payroll, the state said.

Timbertech researches, develops and markets alternative material decks, railings and fences. The TCA approved a 50 percent, eight-year tax credit for the Clinton County company.

Two other companies were awarded credits for projects in locations still to be determined, the state said. G-TEKT North America Corp. expects to create 77 full-time jobs, or $4.4 million in annual payroll. The company “participates in new automobile development by auto manufacturers,” the state said.

Realeflow LLC and G.R. Clement Inc., a software development company, expects to create 15 jobs in an unnamed location, the state said.

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