The Ohio Tax Credit Authority approved seven projects in the region, the largest in terms of jobs for Cleveland Range.
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View full sizeJohn Lanning with Cleveland Range demonstrates the company's steam-cooking equipment at the company's demonstration kitchen in this 2008 file photo. The company is considering and expansion that would nearly double its Cleveland work force.CLEVELAND, Ohio -- Northeast Ohio companies could create nearly 450 jobs, following the approval of tax breaks from a state board.
The Ohio Tax Credit Authority approved seven projects in the region, the largest in terms of jobs for Cleveland Range.
The maker of commercial kitchen equipment, is expanding and considering doubling the number of workers at its East 179th Street plant, potentially creating 176 jobs.
Company officials were not available to comment late Monday. The tax authority approved an eight-year, 55 percent credit against state income taxes to help fund the expansion.
Founded in 1847, Cleveland Range has expanded several times over the past decade. The last major expansion took place in 2007 when it added a line of combination steam/convection ovens to the Cleveland plant.
Tax credit authority officials had few details on the proposed expansion such as which other states were competing for the project or when Cleveland could begin the proposed $4.1 million deal.
Another Northeast Ohio considering major expansions is Step2 Co. The tax credit authority approved two Step2 deals Monday for the company's headquarters and factory in Streetsboro and for a factory expansion in Perrysville near Mansfield.
In Streetsboro, the maker of children's toys and other plastic products is considering retooling its plant and building a large warehouse to consolidate work now being done in several locations. The proposed expansion would create 125 new jobs at the plant.
The state approved a 45 percent, six-year credit against state income taxes for the plant. Step2 would need to add $3.3 million a year in new payroll (roughly $26,000 for each of the 125 new workers) and maintain its existing $19.5 million payroll for at least nine years to keep the credits.
In Perrysville, the company is considering general plant expansions that would generate 75 new jobs. That plant would also received a 45 percent, six-year credit if it expands and keeps those jobs for nine years.
Other Northeast Ohio projects approved by the authority were:
•L&W Cleveland. A subsidiary of Michigan stamping plant company L&W Engineering, the company is considering doubling the size of the plant in Avon. The plant now employs 60 people. The state approved a 45 percent, five-year credit against state income taxes for the company if it maintains the higher employment number for eight years. The City of Avon has already offered tax breaks to the company.
•GrafTech International. Headquartered in Parma, the graphite materials company is considering an expansion of its heat-spreading technologies group. The company did not list a location for the 39-worker expansion in its application for tax credits. GrafTech has only two Ohio plants, the Parma facility and one in Lakewood. The state offered a 40 percent, five-year tax credit requiring GrafTech to maintain the jobs for at least eight years.
•Fuserashi International Technology. An automotive parts supplier that specializes in screws and other fasteners, FIT is considering an expansion of its Liverpool Township plant in Medina County. The company is considering adding 17 jobs to the plant. The state approved a 50-percent, eight-year tax credit.
•Cleveland Construction Co. Located in Mentor, Cleveland Construction is a large general contractor that has offices in Columbus and Cincinnati and in North Carolina and Washington. The company is considering converting a warehouse into office space, making room for 15 new workers. The state approved a 40 percent, 10-year tax credit. The company would have to maintain those jobs for 13 years to keep the credits.