Camaco, a Michigan-based “seat maker for the automotive industry,” is expanding its Lorain production with the help of a state tax credit, Crain’s Cleveland reports. The Ohio Department of Development (ODOD)’s Tax Credit Authority approved a “1.325%, eight-year job-creation tax credit” for the project that will retain 272 existing jobs and create 104 full-time-equivalent jobs, generating “more than $5.2 million in annual payroll,” according to the article. Camaco will also acquire “a new facility to house increased production capacity as a result of the company winning new contracts.” ODOD said, “Ohio is competing with Nebraska for the project, but that the state support ‘will help ensure’ the company expands here.” Camaco claims to be the “largest independent suppliers of engineered seating solutions for the global automotive industry,” with 3,500 employees worldwide. For more, read the full article (subscription may be required).
