Ohio Approves Tax Credits, Set to Create 345 New Jobs in Dayton Area

The Ohio Tax Credit Authority has approved tax credits that will help create 345 new jobs in the Dayton area. This move is part of an all-around effort to boost economic growth in the region. Here is a detailed list of the tax forms Dayton businesses must apply for.

Two companies are at the center of this development. Dayton-Phoenix Group, a locomotive and mining equipment manufacturer, plans to add 115 full-time positions. Meanwhile, Westrafo America LLC, which makes power transformers, aims to create 230 new jobs.

Dayton-Phoenix Group’s expansion will generate $5.5 million in new annual payroll. The company will expand its facility on Kuntz Road in North Dayton. To support this growth, it has been approved for a 1.303% job creation tax credit over eight years.

Dayton City Manager Shelley Dickstein welcomed the news, stating, “This investment by Dayton-Phoenix Group will have a significant positive impact on our local economy.”

Westrafo America LLC’s expansion is equally impressive. The project will generate over $12 million in new annual payroll. The company plans to lease a new facility for its first North American production site. To support this venture, they’ve been granted a 1.778% tax credit for ten years.

Trotwood Mayor Yvette F. Page expressed enthusiasm about Westrafo’s investment. “We’re excited to welcome Westrafo to our community,” Page said. “Their presence will create valuable job opportunities for our residents.”

These projects spotlight the ongoing cooperation between businesses, local governments, and state authorities to drive economic growth in the Dayton area. The Ohio Tax Credit Authority plays an important role in this process by reviewing and approving applications for tax credit assistance.

As these expansions move forward, they’re expected to bring increased economic activity to the region. Local officials hope this will spark further growth and attract more businesses to the area in the coming years.