All Things Business

Tax Credit Approvals Give Area A Double Jobs Boost

22 May , 2018  

When the Ohio Tax Credit Authority (“TCA”) met on Monday to review economic development proposals brought to the board by JobsOhio and regional partners, Mansfield and the Richland County area received some generally good news.

In a press release from the office of Governor Kasich, it was announced that ten projects were approved resulting in 2,279 new jobs and the retention of 924 jobs across Ohio. Collectively, the projects will result in more than $100 million in new payroll, and spur more than $313 million in investments across Ohio.
The two projects with local impact are:

Dollar Tree Distribution, Inc., plans to build a new distribution and warehouse center just northwest of the I-71/SR61 in southern Morrow County, within easy driving distance. This will result in the creation of 400 full time positions which will generate $12.8 million in new annual payroll. The facility will provide services for area Dollar Tree and Family Dollar retail stores. The TCA approved a 1.262 percent, 10 year Job Creation Tax Credit for this project.

IBOD Company, Inc. expects to create 463 full-time positions in downtown Columbus, generating $38.9 million in new annual payroll. The company will also retain $9.1 million in existing payroll as a result of the company’s expansion project in the city of Mansfield. IBOD Company is the parent of Root Insurance, an insurance technology company providing property and casualty insurance. The TCA approved a 2.38 percent, 10-year Job Creation Tax Credit for this project.

Source: Office of Governor John Kasich

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