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Published: Tuesday, 6/26/2012

Area firms get Ohio tax credits

3 companies are expected to generate $3.8M in new payroll

BY JON CHAVEZ
BLADE BUSINESS WRITER
Scrap steel coming off conveyor shredded as finished product at OmniSource Corporation. Scrap steel coming off conveyor shredded as finished product at OmniSource Corporation.
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COLUMBUS — The Ohio Tax Credit Authority on Monday approved economic development tax credits that will go toward 12 projects expected to generate an investment of $128 million and create 841 jobs and retain 2,093.

Included in the approvals were three projects at companies in northwest Ohio.

Calphalon Corp., a cookware company, will receive a 45 percent, five-year tax credit for the creation of $823,000 in payroll as part of the company's consolidation project in Bowling Green. The company will consolidate its distribution operations to increase productivity and production flows, and it will buy new machinery and equipment, creating 33 jobs within three years starting in 2013.

Hoover Universal Inc., an auto parts maker, will receive a 60 percent, 10-year tax credit for the creation of $2.3 million in payroll as part of an expansion of operations in Northwood. Hoover plans to expand its production plant in Northwood to accommodate added work. The company expects to create 86 jobs within three years, starting in 2013.

OmniSource Corp., a scrap metal recycler, will receive a 35 percent, seven-year tax credit for the creation of $663,000 in payroll as part of an expansion of its operations in Toledo. The company plans to add equipment to increase its production flow, resulting in a mix of 22 new maintenance, operations, and managerial jobs within three years, starting this year.



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