Portage to get 123 new jobs as part of state tax credit package
New business to move into Streetsboro, Aurora firm plans expansion
Portage County stands to gain 123 jobs from two projects approved for state tax incentives Monday. The virtual meeting of the Ohio Tax Credit Authority on Monday was its first since the coronavirus outbreak.
The agency approved 17 projects that will create 1,943 jobs and retain 2,247 positions statewide. The projects will create $107 million in payroll and lead to investments of $252 million.
Bulten North America, a company that supplies fasteners to the automotive industry, was granted a 1.816 percent, seven-year job creation tax credit for its project in Streetsboro. RoviSys was granted a 1.520 percent, eight-year job creation tax credit for an expansion to its facility in Aurora and the additional jobs it will bring.
Lisa Colbert of Ohio’s Development Services Agency said the firms were granted credits on the payroll taxes employers will pay to the state of Ohio. The credits, she noted, are dependent on the companies bringing in the number of jobs they have agreed to.
Patrick O’Malia, economic development director for the city of Streetsboro, said Bulten will move into a “spec building” under construction on Wellman Road in Streetsboro. Bulten is consolidating two of its operations, a small plant that employs seven people in Hudson, and PSM International, a company it recently acquired in Youngstown that employs 14 people. Together, the company expects to create 35 jobs at the new plant, generating $2.7 million in new annual payroll and retaining $1.5 million in existing payroll, and O’Malia said that’s just a starting point.
“Their staff could more than double in size,” he said. “They’ve talked about adding up to an additional 39 people. But obviously, nobody expected the coronavirus.”
O’Malia said Bulten is an international company, which is an asset for Streetsboro.
“Any time you have an international company come to your city, they tend to pay better and they tend to stick around longer,” he said. “They’re really fantastic about the apprenticeship model.”
Aurora Mayor Ann Womer Benjamin said RoviSys employs 415 people at its facility at 1455 Danner Drive in Aurora. With its expansion, the company hopes to to add another 88 employees, and invest about $5.67 million, including $2.5 million for a new building. The company expects to bring in $6.2 million in new annual payroll, in addition to retaining $52.9 million in existing annual payroll.
“We applaud RoviSys’ success and appreciate its continued commitment to our community,” she said.
Reporter Diane Smith can be reached at 330-298-1139 or email@example.com.