COLUMBUS - Three state boards Monday approved five grants and tax credits and loans aimed at spurring job creation in northwest Ohio.
The Lucas County Improvement Corporation was recommended to receive a $2.7 million Logistics and Distribution Stimulus Loan for the $7.2 million expansion of the Toledo Express Airport intermodal cargo hub operated by BAX Global. The project is intended to protect 800 jobs at BAX and create 17 construction jobs. The balance of the project's cost is budgeted to come from a $3.4 million federal grant and $1 million from BAX Global.
The BAX facility, opened in 1991, was designed to handle domestic freight and needs modernizing to accommodate international cargoes, according to a port authority staff report presented to the agency's board last week.
The Ohio State Development Financing Advisory Council also approved a 10-year, $1.3 million loan to assist Roppe Corp. in Fostoria with a $4.6 million expansion of the company's facility, where it makes rubberized building materials.
The project is expected to create 33 positions and retain 306 jobs, the state Department of Development said.
Roppe was also awarded a 45 percent job creation tax credit for a six-year term in support of the expansion project by the Ohio Tax Credit Authority. The value of the tax credit is estimated at $65,890 over the term.
The company would be required to maintain operations at the project site for 12 years.
The State Controlling Board yesterday approved a $62,000 Rapid Outreach Grant to Turbine Standard Ltd., an aviation maintenance firm.
It plans a $675,000 expansion of its operations at Toledo Express Airport that is to create 35 jobs and retain 17.
The board also approved a $400,000 roadwork development grant for a planned $39 million distribution center for Home Depot Inc. in Hancock County's Allen Township. When it is built, the distribution center is expected to create 300 jobs.
Also yesterday, the Ohio Tax Credit Authority awarded a 10-year, 55 percent job creation tax credit to Johns Manville Corp. in hopes of luring the building materials company to open a $43 million facility in Milan to produce roofing membranes for commercial, industrial, and residential customers.
The plant would take over production of the material from a facility outside the United States. It would create up to 100 jobs.39.96196 -83.00298