Ohio Tax Credit Authority Approves Assistance for Projects

The Ohio Tax Credit Authority has approved assistance for three projects set to create over 3,100 new jobs and retain over 8,200 jobs statewide.

During its monthly meeting, the TCA reviewed economic development proposals brought to the board by JobsOhio and its regional partners. 

Collectively, the projects are expected to result in more than $152 million in new payroll and spur more than $4.7 billion in investments across Ohio. 

Projects in our region approved by the TCA include:

A Honda Development & Manufacturing of America in Union, Logan as well as Shelby Counties.

The project is expected to to create oer 2,500 full-time positions, generating $117.6 million in new annual payroll and retaining $578.7 million in existing payroll, as a result of the company’s new electric vehicle battery plant in Fayette County and the retooling of existing Honda plants in those counties for electric vehicle production. 

The TCA approved a 1.871%, 30-year Job Creation Tax Credit for the project.