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From “The Daily Record“:
“Council OKs job creation tax credit for Orrvilon
Posted Jan 22, 2010 at 4:01 AM
By PAUL LOCHER
ORRVILLE — Orrvilon Inc. (formerly Holtec) will get a Job Creation Income Tax Credit as a result of action taken by City Council on Tuesday.
Council voted on first reading to enter into a contract for the tax credit with the company and its subsidiaries, under the terms of which the company will create or transfer to its new facility in the city a minimum of 200 jobs over the next 36 months.
According to Safety-Service Director Steve Wheeler, not all the jobs will be new. He said as many as 100 employees of the company are likely to transfer from its plant in Mount Eaton, and others may transfer from its facility near Youngstown.
Wheeler said the estimated annual payroll for the company, which is moving to the former American Weatherseal plant on Dairy Lane, is about $7 million. He said the annual 1 percent income tax equals $69,670. The average salary for a worker at the new plant is expected to be $32,000.
According to Wheeler, the Job Creation Tax Credit is for 10 percent for six years, or $6,976 per year, for a total of $41,856 over the six-year period. A condition of the agreement is Orrvilon must agree to remain in business in the city for at least 12 years.
The terms, Wheeler noted, are the same as already have been approved by the Ohio Department of Development on the state side, and the company’s compliance with the agreement will be overseen annually by the county’s Tax Incentive Review Council.
Wheeler said Orrvilon had planned to add a 72,000-square-foot addition to the American Weatherseal building, but had recently increased that addition to 80,000 square feet. He said the plant is gearing up to begin operations starting in May.
Due to many requests from citizens about how to apply for a job with the company, Wheeler announced interested parties could go to the Holtec plant in Mount Eaton, or could apply to Human Resources, Holtec International, at 9368 Massillon Road, Dundee, 44624.
In other action, council voted on third reading to adopt a resolution authorizing the director of utilities to execute power sales contracts with American Municipal Power and take other action regarding the city’s participation in the Meldahl and Greenup hydroelectric power projects.
It is planned that over the next 35 years, the city will invest $39 million in the development of the two facilities and receive 7 megawatts of power, which could be used by its customers, if needed, or sold on the open market.
In other action, Mayor Dave Handwerk named new at large Councilman Mike Hamsher to the design review board. Hamsher is chairman of council’s planning committee.
Council voted to elect Tamra Peppard to the position of clerk of council without term.
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Comment: Still owned by Holtec.