State Tax Incentives to Support Growth of Technology Sector in Central Ohio

More than 40 percent of new jobs projected to be created in Central Ohio, as a result of the latest round of state tax incentives, will be in the technology sector.  The Ohio Department of Development (ODOD) recently announced incentives for eight Central Ohio companies through the Ohio Tax Credit Authority’s Job Creation Tax Credit Program – a program designed to support companies that are planning expansion projects leading to the retention and creation of jobs within the state. 

Of the 434 jobs projected to be created in Central Ohio through this program, 183 (or 42 percent) are with companies involved in software, medical technology and clean tech.  This supports another trend recently projected by Dr. Bill Lafayette, the Columbus Chamber’s vice president for economic analysis, that professional services, including the technology sector will be one of the few sectors showing job growth in 2010.    

Central Ohio companies in the technology sector who received tax credits include: NuGrowth Solutions, a business management software solutions provider, Bridgehead Solutions, a medical technology firm, PC Mall, a California-based company that acquired software firm Sarcom Inc. in 2007, and Delta Energy, an energy distribution management company primarily involved in natural gas.  

In total, 23 businesses statewide were awarded tax credits.  This represents a projected 1,284 new jobs and 2,595 retained jobs for Ohioans. 

For full details on the latest round of awards from the Ohio Tax Credit Authority, see the release from ODOD