The Ohio Department of Development announced a round of Job Creation Tax Credits that could create up to 118 jobs at three Cincinnati-based companies that are expanding or relocating.
The Cincinnati projects were among 16 across the state that are expected to create up to 1,756 new jobs.
“Our state’s strength in major industries such as logistics, biomedical, food possessing, and manufacturing continue to help Ohio compete globally and attract new businesses,” said Lisa Patt-McDaniel, Interim Director of the state Department of Development,. “We continue to be a leader in these industries due to our talented workforce and our central location to key markets, making Ohio the perfect location for business investment.”
Spear USA, LLC was awarded a 45 percent job creation tax credit for a a five year term for its $1 million Mason expansion project. The $55,461 estimated credit requires Spear to keep operations at the site for 10 years. Spear engineers and supplies labeling systems for the food and beverage industry. The project is expected to create 25 jobs and retain 118.
Advantage IQ, Inc. also was awarded the 45 percent job creation tax credit for a six-year term for the company’s $170,000 expansion project in the City of Cincinnati. The $119,573 tax credit requires Advantage to keep operations at the site for 12 years. The company provides energy management consulting services to multi-site locations including utility processing and payment, waste, telecom bills. The project is expected to create 33 positions and retain 65 jobs
L-3 Communications Nova Engineering was awarded a 50 percent job creation tax credit for a six-year term for the company’s $2.5 million expansion project at an as-yet undetermined site. The communications company has expanded to include development and manufacturing of wireless data communication systems, including ad hoc mesh network mobile routers, unattended sensor systems, and flight test telemetry devices. The project is expected to 60 positions and retain 142 jobs.
Writer: Feoshia Henderson
Source: Ohio Department of Development
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