The TCA approved a 1.613%, eight-year Job Creation Tax Credit for the project.
Yaskawa provides automation products and solutions for virtually every industry, including arc welding, assembly, coating, dispensing, material handling, material cutting, material removal, packaging, palletizing and spot welding, officials said.
Dayton Daily News reported earlier this month that the Yaskawa will add 70 additional staff members to its workforce of 333 employees following the 185,000-square-foot addition to Yaskawa Motoman’s existing 305,000-square-foot facility at 100 Automation Way in Miamisburg.
The expansion reportedly will nearly double the size of the company’s production space. Construction, which launched this month, is expected to take about a year, officials previously said.
Miamisburg City Council voted earlier this month to approve a 50% tax credit on the new jobs for a 5-year period for the robotics manufacturer.
Yaskawa Motoman is one of Miamisburg’s largest employers and has multiple facilities throughout North America, Mayor Michelle Collins previously said.
The city of Miamisburg, on behalf of the company, also sought and was awarded a grant of $350,000 to help with the expansion via the Economic Development/Government Equity (ED/GE) Advisory committee, which advises Montgomery County commissioners on economic incentives funding.
JobsOhio, Ohio’s private jobs creation arm, provided a $300,000 grant for the project.
The tax credits granted to the company were part of nine new projects that garnered assistance from the state, a move expected to create 534 new jobs, retail 1,007 jobs and create more than $40 million in payroll, officials said.
During its monthly meeting, brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $40 million in new payroll and spur more than $76.6 million in investments across Ohio. Those projects are in addition to the $7.8 billion Amazon Web Services project announced earlier today.