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State tax credits pave way for Bed Bath & Beyond’s 900 new jobs in Monroe

Ohio Tax Credit Authority this morning approved tax credits that pave the way for a $33 million Bed, Bath and Beyond e-commerce center.

Located on 62 acres off Salzman Road, across from the Kohl’s Distribution Center, the 827,080-square-foot facility will create approximately 900 full-time jobs generating $26.6 million in new annual payroll, officials said.

Construction is anticipated to be completed by winter 2019.

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Ohio TCA approved a 1.467 percent, 10-year Job Creation Tax Credit for the project during its monthly meeting, which sees it reviewing economic development proposals brought to the board by JobsOhio and its regional partners.

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The project is one of four projects approved today by the Ohio TCA and set to create 1,153 new jobs and retain 278 jobs statewide. Collectively, the projects are expected to result in more than $36 million in new payroll, and generate more than $109 million in investments across Ohio, officials said.

The move by Ohio follows Monroe City Council, which in July voted to approve a new Community Reinvestment Area that will provide a 50 percent abatement on real property investment over a 10-year period to ProLogis, which is developing the $33 million e-commerce center.

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