Monday, Jul 25, 2016
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Economy

Fremont, Tiffin firms get tax credit to expand

The Ohio Tax Authority on Monday approved tax credits for two projects in northwest Ohio that are expected to create a combined 90 jobs and generate additional annual payrolls totaling $4.1 million.

National Machinery LLC and NM Group Global LLC in Tiffin have received a 45 percent, six-year Job Creation Tax Credit for an expansion project in the city that will create 64 full-time jobs. The project will generate an added $2.6 million payroll at the company. The tax credits also will help preserve the company’s existing $20 million annual payroll.

National Machinery designs, develops, and manufactures cold-forming machines that produce metal parts for coiled wire, bars, slugs, and preforms.

Rexam Beverage Can Co. of Fremont will receive a 40 percent, six-year Job Creation Tax Credit for an expansion project that is expected to create 26 new full-time jobs and generate an added $1.5 million in payroll at the firm. It also will help retain the company’s existing $7.1 million in payroll.

Rexam Beverage Can is a manufacturer of cans used by the beverage industry.

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