FMT Plastics receives tax break for expansion | news



The Ohio Tax Credit Authority approved tax breaks for nine projects across the state, creating nearly 1,500 new jobs.

One of the projects is an expansion at FMT Plastics in Findlay. The TCA approved a six year job creation tax credit. The expansion is expected to create 52 full-time positions that will generate approximately $ 2.5 million in salary each year. In addition, an additional $ 1.4 million of existing payroll will be retained. FMT Plastics is a plastic injection molding company. All nine projects approved by the Tax Credit Agency will generate approximately $ 322 million in investment.

News release from the Office of Governor Mike DeWine: (COLUMBUS, Ohio) – Ohio Governor Mike DeWine and Lieutenant Governor Jon Husted announced today that they have approved support for nine projects designed to create 1,456 new jobs and maintain 1,168 jobs nationwide. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed the economic development proposals that JobsOhio and its regional partners had presented to the board. Taken together, the projects are expected to generate more than $ 107 million in new payroll and stimulate more than $ 322 million in investment across Ohio.

The projects approved by the TCA include:

CENTRAL

Amgen Inc., City of New Albany (Licking Co.), expects to create 400 full-time positions and generate $ 40.9 million in new annual payroll from the company’s new project in New Albany. Amgen is a biotechnological drug company that discovers, develops, manufactures and markets medicines for diseases. The TCA approved a 15 year job creation tax credit of 2.427 percent for this project.

Bold Penguin Inc., City of Columbus (Franklin Co.), expects to create 162 full-time positions, generating $ 13.7 million in new payroll annually and maintaining $ 11 million in existing payroll as a result of the company’s expansion project in Columbus. Bold Penguin is an insurtech company providing solutions to insurers and independent agents in the commercial insurance industry. The TCA approved a nine year job creation tax credit of 2.063% for this project.

Midwest Molding Inc., Jerome Township (Union Co.)As a result of the company’s expansion project in Jerome Township, it expects to create 55 full-time positions, generate $ 2 million in new annual payrolls, and retain $ 4.2 million in existing payrolls. Midwest Molding is a plastic injection molding company. The TCA approved a six-year job creation tax credit of 1.048 percent for this project.

Path Robotics Inc., City of Columbus (Franklin Co.)As a result of the company’s expansion project in Columbus, it is expected to create 140 full-time positions, generate $ 10 million in new payroll and retain $ 6 million in existing payroll. Path Robotics produces autonomous welding robots based on proprietary artificial intelligence and computer vision algorithms. The TCA approved a nine-year job creation tax credit of 1.877 percent for this project.

NORTHEAST

Nexus Engineering Group LLC, City of Cleveland (Cuyahoga Co.) and City of Maumee (Lucas Co.), expects to create 65 full-time positions as a result of the company’s expansion project in Cleveland and Maumee, generating $ 7.8 million in new annual payrolls and retaining $ 14.9 million in existing payrolls. Nexus Engineering is an engineering company serving the refining, midstream, chemical processing, utility and manufacturing industries. The TCA approved an eight year job creation tax credit of 2.076% for this project.

NORTHWEST

Findlay Machine & Tool Inc. (FMT Plastics), City of Findlay (Hancock Co.), expects to create 52 full-time positions, generating $ 2.5 million in new payroll annually and maintaining $ 1.4 million in existing payroll as a result of the company’s expansion project in Findlay. FMT Plastics is a plastic injection molding company. The TCA approved a 1.276 year job creation tax credit for this project.

SOUTH-EAST

Candle-Lite Company LLC, Leesburg Village (Highland Co.), expects to create 82 full-time positions, generating $ 2.8 million in new payroll annually and maintaining $ 25.3 million in existing payroll as a result of the company’s Leesburg expansion project. Candle-Lite is a manufacturer of candles. The TCA approved a six-year job creation tax credit of 0.885 percent for this project.

Winesburg Chair Company LTD, Paint Township (Holmes Co.), expects to create 50 full-time positions, generate $ 2 million in new annual payrolls, and retain $ 9 million in existing payrolls, as a result of the company’s expansion project in Paint Township. Winesburg Chair produces furniture from the forest to manufacturing. The TCA approved a six-year job creation tax credit of 0.970 percent for this project.

still open

Protiviti and Robert Half International Inc. (Protiviti), still open, expects to create 450 full-time positions and generate $ 25.6 million in new annual payroll as a result of the company’s new project in a yet-to-be-determined location. Protiviti is a global consulting firm that provides a range of risk, finance, technology, and business performance solutions for consumer goods, finance, manufacturing, technology, and other industries. The TCA approved a 10-year job creation tax credit of 1.986 percent for this project.

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