Central Ohio Tech Companies Receive State Loans and Tax Credits to Support Job Creation and Retention

The Ohio Department of Development has awarded three Central Ohio tech companies loans and tax credits that will support the creation and retention of jobs in the region. 
Improveit! 360, which provides business management software for the home improvement industry, will receive a $1.1 million loan from the Innovation Ohio Loan Fund (IOLF).  Supported through the Ohio Third Frontier, the IOLF provides 1:1 matching dollars in the form of favored rate loans which are interest-free for the first two years.  The loan will support costs associated with computer equipment and capital expenditure developments for a project that is expected to create 35 jobs and will assist the company in retaining seven positions.

In addition, Auld Technologies LLC and Guardian HR have been awarded a 50 percent job creation tax credit for a six-year term as a result of the company’s expansion at a site to be determined in Franklin County. Auld Technologies develops and produces domed decorative emblems and decals for consumer electronics customers including Motorola, Nokia, General Motors, and Microsoft. This $825,000 project is expected to create 10 positions and retain 20 jobs.

Telamon Corporation has been awarded a 50 percent job creation tax credit for a six-year term as a result of the company’s expansion in Columbus.  Telamon, founded in 1985, is one of the largest Asian-owned businesses in the United States. It is a $468 million company with more than 500 employees, a number that will be growing as they expand operations in Ohio. Telamon provides a variety of services to the telecommunications industry and its customers. This $395,000 project is expected to create 38 jobs in Central Ohio. 

For more information see the releases from ODOD: 
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