The Heath City Council and the German automotive supplier xperion Energy & Environment USA LLC recently finalized a five-year economic development agreement in which the company "will manufacture composite tanks for compressed natural gas applications in a 50,000-square-foot facility under construction at the Central Ohio Aerospace and Technology Center campus," the Newark Advocate reports. Effective January 1, 2015, the deal "provides the company a five-year, 50-percent tax credit applied to its business profit tax" with the agreement that the company will create about 59 full-time equivalent positions by December 31, 2016. The payroll during the five-year period is expected to total almost $4.9 million. The Ohio Tax Credit Authority recently approved a seven-year, 50-percent job creation tax credit for the project, as well (See our Nov 6, 2013, blog post for more information). For more, read the full story.
City of Heath approves five-year economic development agreement with German automotive supplier xperion
