Gov. Mike DeWine announced this week the Ohio Tax Credit Authority approved a 1.4%, nine-year job creation tax credit for the project for generating the new payroll and retaining $182.5 million in existing payroll, as a result of the company’s new location.
Synchrony Bank, under the umbrella of Synchrony Financial, is a leading consumer financial services company that specializes in providing customers with a unique set of financing solutions. The company partners with leading retailers, including co-branded and private label credit cards, promotional financing, and CareCredit for medical expenses.
“The tax credits for Synchrony demonstrate the power of a public-private partnership to build the next generation workforce and drive economic growth,” Lanspery told the Journal-News. “We plan to add 300 new jobs over the next four years. The new roles will focus on operations, digital customer servicing and marketing.”
Townships do not collect income tax unless a business is within a Joint Economic Development District and this property isn’t in a JEDD according to Kanelopoulos, but the new move-in benefits the township regardless.
“The benefit obviously is that they’ve chosen West Chester as the hub for their Ohio employees and it’s going to bring people to stay here in the hotels, use the restaurants, just use all the amenities,” she said. “I definitely think they see this as a place to stay and play and work.”