UPDATE 2:15 p.m.
State government approved a tax credit Monday for a Vandalia company on the cusp of an expansion that would create nearly 80 jobs.
The Ohio Tax Credit Authority approved a 1.153 percent, 6-year tax credit to MAC ITS, LLC (MAC or Manufactured Assemblies Corp.) for the creation of $3,057,600 in new annual payroll in Vandalia.
MAC expects to create 79 full-time-equivalent employees while also retaining $2,807,168 in existing payroll by the end of 2022, the authority said Monday.
The state expects the business to maintain operations in Vandalia for at least nine years.
MAC produces custom cable assemblies, wire harnesses, digital signs and kiosks for large and small original equipment manufacturers.
The proposed project will consolidate out-of-state operations into Ohio. Ohio is competing with Georgia and Indiana for the proposed project, the authority said, with state officials hoping the incentive will help ensure that the proposed project moves forward in Ohio.
Vandalia city officials have expressed support for the tax credit, the state said.
In 2014, Manufactured Assemblies Corp. received $50,000 in Montgomery County development funds to buy 3.4 acres in Vandalia’s Stonequarry Crossings business park, adding 14,000 square feet to an existing building.
That project was expected at the time to protect 90 existing jobs and create 35 new jobs, with a payroll of $750,000.
St. Louis-based Compass Group Equity Partners acquired MAC in June 2017.
The Ohio Tax Credit Authority will consider incentives for a business expansion in Vandalia this morning.
“MAC ITS LLC” is on the authority’s agenda for its Monday meeting in Columbus. That may be a reference to Vandalia’s Manufactured Assemblies Corp., on 1625 Fieldstone Way, also called “MAC.”
This spring, Montgomery County approved development funds as incentives to two businesses in Vandalia, both to unnamed companies already operating in the city.
One company wants to add 19,300 square feet to an existing manufacturing facility in Vandalia, a project county leaders hope will create 25 jobs and retain 45 jobs. That project received $210,000 in county ED/GE (Economic Development/Government Equity) funds.
Another Vandalia company, also unnamed, received just over $72,000 to build a 25,000-square-foot expansion to an existing manufacturing facility.
That company projects the expansion will create 25 new jobs and retain 93 jobs.
The Ohio Tax Credit Authority meets at 10 a.m. at the Vern Riffe Center, 77 South High St. We’ll update this story with the meeting’s results.
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