Eight projects approved by Tax Credit Authority Today
Eight Northeast Ohio projects have been awarded Ohio Tax Credit Authority (TCA) approval today. Collectively, the projects are poised to create 3,000 new jobs with an annual payroll of $168.6 million and $698.6 million in capital investment across the region.
The projects include large-scale investments in innovative manufacturing companies, like Lordstown Motors in Mahoning Valley and Stakes Manufacturing in Lake County. These projects will add 1,570 new jobs and 400 new jobs, respectively, and enhance the region’s reputation as a leader in advanced manufacturing.
In addition, Stark County welcomes plans for Tractor Supply Co. to build a new distribution center, bringing 375 new jobs to the area. American DeRosa Lamparts LLC, seeks to relocate its out-of-state headquarters and distribution center in Summit County, bringing 42 new jobs here. Also growing in Summit County, the biotechnology company Athersys is considering the addition of 400 new jobs.
Cuyahoga County looks forward to major projects:
- Airgas USA, LLC, the largest distributor of industrial medical and specialty gases plans to add 42 new positions in Independence
- Digital Room LLC, the largest eCommerce provider of customized marketing and branding, plans to open a new manufacturing facility in Solon, creating 60 new jobs
- ISSQUARED™ Inc. will add 109 well-paying positions with a new cyber security operation
Collaboration and commitment of cross-organizational teams throughout the region was critical in bringing all new projects to fruition.
“In the midst of these incredibly challenging times, Northeast Ohio companies see opportunities to invest in their businesses. Team NEO, JobsOhio and our network of strong, coordinated economic development partners are engaging private sector leaders to understand how we can support their growth plans,” stated Bill Koehler, Team NEO CEO. “Together, we’re helping businesses grow, creating jobs and building a more robust and equitable regional economy.”
About Team NEO
Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of Northeast Ohio. As the designated JobsOhio Network Partner, we align and amplify local economic development efforts in Northeast Ohio’s 18-county region; we conduct research and data analysis to inform local conversations and influence solutions; we market Northeast Ohio as a region; and we work to increase access to jobs, education and training for the region’s 4.3 million people. For more information, visit teamneo.org.
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.