The Courier in Findlay reports that the Hancock County commissioners are expected to approve a tax increment financing (TIF) plan that would generate about $135,178 per year to help pay for infrastructure improvements needed as part of Ohio Logistics' planned expansion. The new buildings would be valued at approximately $10 million, and the expansion is expected to create 25 full-time positions and between 10 and 15 part-time positions.
Cincinnati.com reports that the West Chester Twp. trustees have approved two Ohio Enterprise Zone applications that are now being considered by the Butler County commissioners. Contingent Network Systems would receive a 65 percent tax abatement on property for eight years as part of its $5.4 million expansion, which is expected to retain 12 full-time jobs and add 75.
ThisWeek Community News reports that Westerville City Council approved a 65 percent property tax abatement for the Daimler Group's fifth Westar office building. The building is expected to house 325 jobs, bringing approximately $260,000 in additional income-tax revenue from $13 million in new payroll.
Morning Journal News reports that the Liverpool City Council approved a TIF program that will provide a 100 percent tax abatement during a 30-year period for developers of "two East Fifth Street buildings that once held a 4&10 and a department store." Plans call for the buildings to be "utilized by the New Castle School of Trade (NCST)."
Akron.com reports that the Cuyahoga Falls City Council rejected a four-year, 50 percent Community Reinvestment Area tax exemption for Tamarkin Corp./Giant Eagle Inc. and GetGo Partners South. It would have saved investors $104,000 in exchange for their $3.2 million investment.
Tax-related economic development news in Ohio
