800+ new jobs expected from companies receiving tax credits

Four Dayton-area companies were approved for state tax-credit incentives today that are expected to lead to more than 800 new jobs in the Miami Valley.

More than half of those new jobs, 483, are headed to Tenneco Automotive Operating Co.’s Kettering plant off Woodman Drive, according to the Ohio Tax Credit Authority’s description of the project.

The companies slated to receive tax incentives after an Ohio Tax Credit Authority meeting Monday include:

• Tenneco Automotive Operating Co., which expects to create 483 full-time positions, generating $15.8 million in new annual payroll and retaining $22.8 million in existing payroll as a result of the company’s expansion project in Kettering, received a 1.724 percent, nine-year job creation tax credit. Tenneco designs, manufactures and distributes automotive ride control and emission control products and systems.

A spokeswoman for the authority said Tenneco’s project means 483 new jobs for the Kettering plant and 478 retained or existing jobs.

A spokesman for Lake Forest, Ill.-based Tenneco said he wanted to gather information before commenting.

• DMAX, which expects to create 150 full-time positions, generating $4.4 million in new annual payroll and retaining $35 million in existing payroll as a result of the company’s expansion project in Moraine, received a 0.926 percent, six-year job creation tax credit. DMAX manufactures diesel engines for trucks.

RELATED: DMAX to invest $82 million at truck engine plant, 150 jobs.

• Frontier Technology Corporation, which expects to create 45 full-time positions, generating $4.1 million in new annual payroll and retaining $2.5 million in existing payroll as a result of the company’s expansion project in Beavercreek, received a 1.772 percent, seven-year job creation tax credit. Frontier Technology integrates system engineering and operations research methodologies with information technology solutions.

• Silfex, which expects to create 109 full-time positions, generating $5 million in new annual payroll and retaining $20 million in existing payroll as a result of the company’s expansion project in Eaton, received a 1.321 percent, seven-year job creation tax credit. Silfex provides high purity custom silicon components and assemblies that serve a broad base of high technology markets.

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The Ohio Tax Credit Authority is a five-member, independent board that considers requests for tax credits to help make possible business expansions or relocations.

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