Business & Economy

Approved tax credits for expansion projects across the state include businesses in Southwest Ohio

WYSO | By Jerry Kenney

Published December 12, 2023 at 1:16 PM EST

Ohio approves 11 economic growth projects with tax credits, promising over 1,600 new jobs statewide. Technicote, Inc. in Trotwood and Two Six Labs, LLC in Kettering among the awardees, set to boost job creation and payroll.

Officials say the tax credits represent an investment in more than $141 million in new payroll and spur more than $2.5 billion in investments across Ohio.

This week, state officials announced 11 economic growth projects have been approved for tax credits.

Officials say those tax credits will create more than 1,600 new jobs and retain just over 1,700 statewide.

An economic expansion proposal from Technicote, Inc. in Trotwood has gotten a thumbs-up from the state of Ohio Tax Credit Authority.

Technicote’s newly leased manufacturing facility, new equipment, and technology investment is expected to create more than 160 full-time jobs, generate $9.3 million in new annual payroll and retain $5.7 million in existing payroll.

There was also good news for Two Six Labs, LLC, in Kettering. The national security support firm has been approved for a 2.211%, nine-year Job Creation Tax Credit.

The tax break will help Two Six Labs create 80 full-time positions, and generate $10 million in new annual payroll.

The company’s expansion plans include a new facility to support office and lab space for research and development.

Other companies to receive the tax credits include Resilience US, Inc., in West Chester Township, CyrusOne Management Services LLC; and Worldpay, LLC, in Cincinnati.