Tax Credits Approved for Firm Mulling City Site
COLUMBUS, Ohio -- The Ohio Tax Credit Authority this morning approved tax credits for a potential economic development project in downtown Youngstown that would create 300 jobs and an investment of nearly $7 million.
The tax credit authority, meeting in Columbus, approved a 60%, six-year credit with a total value of $947,000 for Network Solutions Provider, which provides tier 1 technical support for cloud and business mobility and tier 3 and 4 business-to-business technical engineering support. The company describes itself as one of the fastest-growing technology integrators in the country.
NSP would also receive assistance from the Mahoning County One Stop for workforce services and job training, said Sarah Boyarko, the Regional Chamber’s vice president for economic development. She added that the company is talking with Youngstown’s economic development office about additional assistance to support the potential investment.
The company has identified a property in downtown Youngstown for its operations, but had not finalized its lease, according to information provided Dec. 2 by the chamber. The proposed operation in downtown Youngstown would create 300 jobs and with an investment of $6.8 million. Annual payroll would be about $12 million.
“Network Solutions Provider has been contemplating an investment in the Mahoning Valley for a number of years. We hope that today’s award from the TCA will encourage them to pick downtown Youngstown as their next location to create jobs,” Boyarko said.
NSP is ranked No. 31 on Deloitte’s 2013 Technology Fast 500 ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America, NSP announced Dec. 3. (READ ANNOUNCEMENT).
In its announcement of the Deloitte ranking, NSP states in addition to its headquarters in Los Angeles, the company has “offices in Ohio, Iowa, Virginia and Atlanta.” Neither the announcement nor the company’s website provides additional information about its locations.
Published by The Business Journal, Youngstown, Ohio.