Saturday, Aug 27, 2016
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Economy

Area projects win state loans, grants

COLUMBUS - First Solar LLC was granted a state research and development loan and a state jobs tax credit yesterday for a planned $72 million expansion of its factory in Perrysburg Township.

The loan is to buy land and equipment and to build a 200,000-square-foot structure to produce thin-film solar modules for conversion of sunlight into electricity. The 65 percent tax credit for five years, valued at $784,200, is to retain 180 positions and create 200 more within three years.

The loan is from the state Development Financing Advisory Council and the tax credit is from the Ohio Tax Credit Authority.

State tax credits also were granted to Ventra SPD Corp., a Chrysler car bumper logistics vendor which plans to lease a facility in Toledo, and to Plastic Recycling Technology II Inc., a Van Wert recycling firm that proposes a $2 million project to lease factory and office space and buy equipment. Ventra is to create 40 jobs and Plastic Recycling is to retain two and create 30 within three years.

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