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Local firms receive tax credits to create 195 jobs

August 27, 2013  |  Contingent Network Services
Contingent Network Services

Cincinnati.com

Four companies pledged to add up to 195 jobs in Southwest Ohio after the Ohio Tax Credit Authority approved them to receive tax breaks Monday.

Benjamin Steel Co. Inc. plans to build a new location in Cincinnati and create up to 40 full-time jobs in the city. The Springfield, Ohio-based steel service center said the hiring would generate $1.5 million in additional annual payroll. The Ohio Tax Credit Authority approved a 40 percent state income tax credit for six years for the project.

Contingent Network Services LLC plans to add 75 full-time jobs as part of an expansion of its West Chester facility. The West Chester-based information technology service provider said its plans will generate $3.4 million in annual payroll and retain $7.8 million in payroll. The Ohio Tax Credit Authority approved a 45 percent state income tax credit for six years for the project.

Healthcare Regional Marketing LLC plans to add 30 full-time jobs as part of its expansion project in Union Township. The Clermont County-based health care marketing services company plans to generate $1.3 million in payroll and retain $1.6 million in payroll from its plans. The Ohio Tax Credit Authority approved a 40 percent state income tax credit for five years for the project.

Pioneer Cladding and Glazing Systems LLC plans to add 50 full-time jobs as part of its relocation to Mason. The Loveland-based company plans to generate $3.3 million in payroll and retain $3.7 million in payroll from its plans. The Ohio Tax Credit Authority approved a 45 percent state income tax credit for seven years for the project.

Gov. John Kasich said Monday the approval of tax breaks for nine projects should create 591 jobs and retain 943 jobs statewide. He said the projects are expected to result in more than $29 million in new payroll and $40 million in investment.

The Ohio Tax Credit Authority approved the plans as it reviewed economic development proposals that JobsOhio and its regional partners presented. The Job Creation Tax Credit allows companies to receive refundable credits, which are generally up to 75 percent of withheld state income taxes.