Employment estimates have varied, with the state saying the Joby workforce could reach 2,000 workers and the city of Dayton pointing to a possible 1,200 workers.
The new tax credit has an estimated value of $93 million and JobsOhio is considering as well a grant of $110 million to help Joby build a Dayton-area workforce, a spokesman for the Ohio Department of Development said.
“It’s important to note this is an estimate of the potential tax credit if all elements approved by the Tax Credit Authority are met,” spokesman Mason Waldvogel said. “The Job Creation Tax Credit is a performance-based credit. The company must fulfill its job creation and payroll commitments to receive the credit.”
Joby’s credit means for that 30 years, the company can claim a 2.05% credit on new Ohio payroll related to the project location.
Companies receiving the credits are required to annually report jobs, payroll, and investment to the Ohio Department of Development, the state has said.
Also recently, Dayton applied for a $1 million Montgomery County grant to draw Joby to the Dayton area.
In all, the state recently announced tax credits for business projects state leaders hope will create 2,247 new jobs while protecting 63 existing jobs statewide.
Collectively, the projects are expected to result in more than $152 million in new payroll and spur more than $482 million in investments across Ohio.
The state hopes the new local Joby manufacturing plant will generate $140 million in new annual payroll.
Joby’s plan, first announced Sept. 18, would have the company building a large-scale manufacturing facility capable of delivering up to 500 aircraft per year.
JoeBen Bevirt, founder and chief executive of Santa Cruz, Calif.-based Joby, has said he wants to have Joby aircraft entering commercial air taxi service in 2025.