State grants tax breaks to companies in New Albany, Obetz
Three central Ohio companies -- one locating in New Albany and two Obetz expansion projects -- received tax incentives from the Ohio Tax Credit Authority on June 25.
Arminak & Associates, which manufactures plastic packaging, received a 50-percent, seven-year job-creation tax credit for its new facility in New Albany, according to a state release.
The company plans to occupy 65,000 square feet in a speculative production facility with Alene Candles and Jeyes, which manufactures wall flower plug-ins. The building shell, built by the Pizutti Cos., is in the city’s Personal Care and Beauty Campus, north of state Route 161 and east of Beech Road.
Jennifer Chrysler, New Albany’s community development director, said the company will bring 50 new jobs to the city and invest $4.5 million in inventory.
No local incentives are available to the company.
The Obetz companies are Bare Escentuals Beauty and Delaware Art.com.
Bare Escentuals, which specializes in mineral-based cosmetics, received a 45-percent, seven-year job-creation tax credit. The company expects to create 75 full-time positions, generating an additional $2.3 million in annual payroll and retaining $8.6 million in existing payroll, according to a state release.
Delaware Art.com, an Internet retailer of wall art and custom framed products, received a 35-percent, five-year job-creation tax credit for its expansion project. The company expects to create 75 full-time positions, generating an additional $2 million in annual payroll and retaining $5.7 million in existing payroll, according to a state release.
New Albany recently got good news from two other companies that plan to begin operations in the city.
Chrysler said last week that Venture Therapeutics plans to build east of 8000 Walton Parkway and Maxwell Financial Management is moving to 6530 W. Campus Oval.
Last week, New Albany officials approved a conditional-use permit and tax incentives for Venture Therapeutics to build a pharmaceutical research and development facility.
New Albany City Council on June 19 approved a 100-percent, 15-year tax abatement on real property taxes for the building. Chrysler said the company is expected to add 110 jobs in five years, which would provide a $5.5-million annual payroll.
Maxwell Financial Management, which does financial planning, has outgrown its site at 330 W. Wilson Bridge, Worthington, and is moving to 6530 W. Campus Oval. Chrysler said she does not have an estimate on the number of employees moving with the company.
No local incentives can be offered to Maxwell Financial Management and no state incentives were pending as of June 25.
—From staff reports