BUSINESS BRIEF

OC gets 40% tax credit
in return for 50 jobs

10/28/2013

COLUMBUS — The Ohio Tax Credit Authority on Monday approved a 40 percent, five-year Job Creation Tax Credit for Owens Corning.

The estimated value is $243,195 if all elements of the performance-based tax credit are met. OC is to add 50 full-time positions within 3 years in Toledo.

The Toledo-Lucas County Port Authority last week approved its share of a multimillion-dollar taxpayer-funded incentive package to keep the Fortune 500 company and its 1,250 workers from leaving Toledo. The port board approved up to $8 million in bonds for improvements to the firm’s downtown waterfront building and a long-term lease extension. Toledo City Council could vote today on an incentive package worth $7 million for the company.