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Texas Company Gets Tax Credit to Open Brookfield Plant
COLUMBUS, Ohio -- The Ohio Tax Credit Authority Monday authorized a 55%, seven-year job creation tax credit for a project proposed by J-W Measuring Co. in Brookfield Township.
J-W Measuring has proposed opening a manufacturing facility to manufacture and produce measurement and process equipment for the oil and gas industry, according to state documents. Based in the Dallas area, it was spun off this summer from J-W Energy Co. when it was sold to White Deer Energy L.P. II and its affiliates and J-W Measurement Co.'s senior management team.
The company expects to create 150 full-time equivalent employees generating $6.8 million in annual payroll at the project location within three years of the project’s tax-credit effective date. In addition, the company will claim the tax credit on income tax revenue generated at the project location in excess of the company’s baseline income tax revenue at the project location.
In the proposed scope of work provided by state officials, J-W said the cost of training new employees “would be too high to justify doing the project in Ohio since the state is new to the oil and gas industry.” The tax credit would require the company to maintain operations at the project location in Brookfield Township for at least 10 years.
The tax credit request was supported by a letter from the Youngstown/Warren Regional Chamber. Chamber officials confirmed Monday they are working with the company but that it has not made a final decision whether to move forward with the project.
The company has proposed acquiring an unidentified plant, making on-site infrastructure improvements and purchasing new machinery and equipment. J-W Measurement provides engineered gas measurement equipment, supplies and services to the oil and natural gas industry. These include engineered measurement stations, custom or standard meter tubes, power supply equipment and production equipment.
Also Monday, the Ohio Tax Credit Authority approved assistance for a total of projects set to create 846 jobs and retain 7,155 jobs statewide. Together the projects are expected to result in more than $46 million in new payroll and $58 million in investments across Ohio.
Published by The Business Journal, Youngstown, Ohio.
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