Nine Central Ohio Companies Approved for Tax Credits to Create and Retain Jobs

Ohio Department of Development Director Lisa Patt-McDaniel has announced approval by the Ohio Tax Credit Authority of Job Creation and Retention Tax Credits for 29 projects that, if expanded or located in Ohio, are expected to create 2,583 jobs and retain 4,701 positions.

Of these awards, nine of them go to Central Ohio companies including: 

Alcatel-Lucent has been awarded a 60 percent Job Retention Tax Credit for a 10-year term as a result of the company's expansion in the Central Ohio region. The value of the tax credit is estimated at more than $10 million over the term, and the company would be required to maintain operations at the project site for 13 years. Alcatel-Lucent is a leader in fixed, mobile and converged broadband networking, IP and optics technologies, applications, and services, with operations in more than 130 countries. This project includes moving from a leased facility to a 60,000-square-foot facility to house the company's IT administrative and testing operations. The more than $20.2 million project is expected to create 12 jobs and retain 540 positions.

AlgaeVenture Systems, Inc. (dba) AlterE Technologies has been awarded a 50 percent Job Creation Tax Credit for a six-year term as a result of the company's new project in the City of Marysville (Union County). The value of the tax credit is estimated at $829,872 over the term, and the company would be required to maintain operations at the project site for nine years. AlgaeVenture Systems deploys and commercializes technologies and products that offer efficient, low-energy, environmentally sound solutions in solid-liquid separations, concentration, and water remediation. This project includes the addition of new lines for the manufacturing and assembly of new machines used in the separation of solid and water reduction. The more than $9 million project is expected to create 200 jobs and retain 20 positions.

Citi Fund Services Ohio, Inc. has been awarded a 60 percent Job Creation Tax Credit for a seven-year term as a result of the company's new project in the City of Columbus (Franklin County). The value of the tax credit is estimated at $2.4 million over the term, and the company would be required to maintain operations at the project site for 10 years. Citi Fund Services Ohio offers fund services, including administration and accounting, transfer agency and shareholder services, compliance and regulatory support, and marketing and distribution solutions. This project includes the improvement of its leased facility for the support and administration of new and current business. The more than $2.8 million project is expected to create 300 jobs and retain 715 positions.

Cleobrothers & Co., LLC has been awarded a 45 percent Job Creation Tax Credit for a six-year term as a result of the company's expansion in the City of Columbus (Franklin County). The value of the tax credit is estimated at $172,143 over the term, and the company would be required to maintain operations at the project site for nine years. Cleobrothers is a skin care and dermatological products company that specializes in bath and body, hair and skin care, color cosmetics, supplements, and fine fragrance product formulation and development. This project includes the expansion of its leased facility and the purchase of new machinery and equipment. The more than $1 million project is expected to create 57 jobs and retain seven positions.

Fast Switch, Ltd. has been awarded a 55 percent Job Creation Tax Credit for a seven-year term as a result of the company's new project in the cities of Dublin, Columbus, and Hilliard (Franklin County). The value of the tax credit is estimated at $944,000 over the term, and the company would be required to maintain operations at the project site for 10 years. Fast Switch offers pure IT professional services, executive search and technical recruiting services, and customized programs providing consulting services. This project includes improvements on three facilities for the support and administration of the company's services. The $438,000 project is expected to create 116 jobs and retain 63 positions.

Health Care DataWorks, Inc. has been awarded a 40 percent Job Creation Tax Credit for a six-year term as a result of the company's new project in the City of Columbus (Franklin County). The value of the tax credit is estimated at $221,000 over the term, and the company would be required to maintain operations at the project site for eight years. Health Care DataWorks provides health care organizations with an opportunity to provide higher quality health care services while lowering costs by using its pioneered "Enterprise Data Warehouse in a Box." This project includes the improvement of a leased facility for the support and administration of new and current business. The $250,000 project is expected to create 33 jobs and retain 13 positions.

HealthSpot, Inc. has been awarded a 50 percent Job Creation Tax Credit for a six-year term as a result of the company's new project in the City of Dublin (Franklin County). The value of the tax credit is estimated at $424,000 over the term, and the company would be required to maintain operations at the project site for nine years. HealthSpot owns a patent-protected, technologically advanced care station that enables locally and nationally recognized healthcare providers to deliver services to people from remote locations. This project includes a $1.8 million investment in a new location and for equipment, and is expected to create 60 jobs.

InfoMotion Sports Technologies, Inc. has been awarded a 45 percent Job Creation Tax Credit for a six-year term as a result of the company's new project in the City of Dublin (Franklin County). The value of the tax credit is estimated at $209,000 over the term, and the company would be required to maintain operations at the project site for nine years. InfoMotion Sports Technologies develops and commercializes motion-sensor-based sporting equipment and software for athletic and sporting organizations. This project includes the lease of a facility for the assembly and software development of its current product. The more than $1.47 million project is expected to create 45 jobs and retain one position.

Knowlton Development Corporation, Inc. has been awarded a 55 percent Job Creation Tax Credit for a nine-year term as a result of the company's new location in the Village of New Albany (Licking County). The value of the tax credit is estimated at $655,000 over the term, and the company would be required to maintain operations at the project site for 12 years. Knowlton is a manufacturer of personal care, health, beauty, and household products for Fortune 500 specialty retail, consumer products, and household products companies. This project includes the construction of a new 250,000-square-foot facility for manufacturing its products. The $55 million project is expected to create 200 jobs.

For complete details, see the release from ODOD: 
http://development.ohio.gov/newsroom/2010PR/December/3.htm