In Troy, privately held window and door manufacturer Pella Corp. expects to create 428 full-time positions, generating $19.3 million in new annual payroll, the state and the company both said Monday.
Pella designs, makes and installs window and door products made from wood, vinyl, and fiberglass. The Tax Credit Authority (TCA) approved a 1.553%, 10-year job creation tax credit for this project.
Pella will occupy an existing 324,000-square-foot space for the production work at Avenue/United Retail building on Experiment Farm Road, just west of Interstate 75, the company said in a statement Monday.
“The new manufacturing facility will serve customers in the Eastern region of the United States and will enable the company to meet rapidly increasing demand for Pella vinyl products.” Pella’s release said.
“We are excited about the growth opportunity that vinyl products represent. This new facility allows Pella to increase our production capacity and shorten lead times for our valued retail and trade customers in the region,” Tim Yaggi, Pella chief executive, said in the company’s statement.
In Beavercreek, Resonant Sciences expects to create 30 full-time positions, generating $3 million in new annual payroll and retaining $6 million in existing payroll as a result of the company’s expansion project in Beavercreek, the TCA also said.
Resonant Sciences, located at 3975 Research Blvd., is a research and development firm focused on developing and transitioning technologies to developmental and operational platforms, including antennas, radomes and subsystems.
The TCA approved a 1.686% seven-year tax credit for this Greene County project.
Elsewhere in Southwestern Ohio, the Kroger Co. expects to create 15 full-time jobs in Blue Ash and Hamilton, in Hamilton and Butler counties, respectively.
The state expects those new jobs to generate $1.5 million in new annual payroll while retaining $58.2 million in existing payroll as a result of the company’s data center project in Blue Ash and Hamilton, the TCA said.
The TCA approved a 75%, 15-year Data Center Sales Tax Exemption for that project.
In Ohio, job creation tax credits are based on Ohio employee payroll for new jobs created as result of new business investment in the state. The credit is given annually for the term of the agreement with the companies involved.
For the Pella project, the estimated value of the credits are $2,625,000, the state said.
For the project in Beavercreek, the estimated value was put at $325,000.
Tax credit projects
By the numbers
$2,625,000: Value of job creation tax credits approved for Pella Corp.‘s move to Troy.
$325,000: Value of job creation tax credits approved for Resonant Sciences LLC.
428: Number of new Pella jobs the state expects in Troy.
30: Number of new Resonant Sciences jobs expected in Beavecreek.
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