6 area projects win assistance from 2 Ohio agencies
6/27/2006Six northwest Ohio projects were among more than a dozen statewide to receive financial assistance yesterday from the Ohio Tax Credit Authority and the Development Financing Advisory Council.
The local projects and the aid:
●Whirlpool Corp. got a 75 percent, 15-year tax credit for the creation of 553 jobs as part of its expansion at its Clyde factory in Sandusky County. The average wage will be $15 per hour.
The company also received two state loans, one for $5 million and one for $2.6 million, for 10 years at interest of less than 2 percent.
●Highway Composites LLC, which owns Monroeville Industrial Moldings Inc. and PIPO Inc., received a 45 percent, seven-year tax credit for creation of 69 jobs as part of its $.34 million expansion in Norwalk in Huron County.
The average hourly wage will be $10.75. The firm also received a $1 million state loan for 15 years.
●General Motors Corp. received a job retention tax credit of up to 75 percent for seven years for keeping at least 2,000 jobs with its of $413 million renovation and expansion of its Toledo Powertrain facility.
The firm plans to invest $504 million overall in the transmission plant, which has 2,900 workers. The average wage of the retained jobs is $28.49.
●FDS Coke Plant LLC received a 65 percent, 10-year tax credit for creation of 140 jobs as part of its $325 million coking plant in Toledo.
The company has said the investment could be double that amount. The average wage will be $18.
●Summit Ethanol LLC has received a 50 percent, seven-year tax credit for creation of 41 jobs as part of its $74 million construction of a 60 million-gallon ethanol production facility in the Village of Leipsic in Putnam County. Average pay is to be $14.15 an hour.
●Ada Technologies has received a 40 percent, seven-year tax credit for creation of 35 jobs as a result of a $1.9 million expansion of its facility in the village of Ada in Hardin County.
The average wage will be $13.19 an hour.