The Ohio Department of Development recently has approved Job Creation Tax Credits for Surgical Appliance Industries, Inc., in Cincinnati, and Thaler Machine Co., relocating to Springboro from Dayton, for expansion and job creation projects.
"The diversity of businesses that seek to grow with Ohio is a testament to our highly skilled workforce, our central location, and our determination to invest in our strengths," said Lisa Patt-McDaniel, Ohio DOD director. "These investments directly support the creation of good jobs in our state, leveraging resources and expanding our economy."
Founded in 1893 as Ohio Truss Company, Surgical Appliance Industries manufactures orthopedic garments like mobility and convalescent aids, mastectomy, and compression therapy products. The company has been awarded a 45 percent job creation tax credit, estimated at $100,404 over six-years. The funds will be used as part of the company's $1.2 million expansion. The project is expected to create 48 jobs and retain 160 positions.
Thaler Machine Co., in Dayton, received a 50 percent job creation tax credit for its relocation to Springboro in Warren County. Thaler Machine, founded in 1952, manufactures, develops and designs precision machine components for the aerospace and automotive sectors. The credit is valued at $171,324 over six-years. The $3.8 million relocation is expected to create 40 jobs and retain 76 positions.
As part of the award, both companies will have to maintain operations on the project site for 12 years.
Writer: Feoshia Henderson
Source: Ohio Department of Development
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