And Kasich expressed confidence that Ohio would recoup its incentives investment into the plant in little more than a year.
“It’s a good thing on so many levels,” Kasich said.
The Ohio Tax Credit Authority approved in late March a 75 percent, 15-year “job creation” tax credit for Abbott worth an estimated $8 million-plus. And Tipp City recently approved an incentive package worth more than $1.2 million, including an agreement to build an east-west access road on the south side of the Abbott lot, off County Road 25A in southern Miami County. The road is being partially funded by the state.
Kasich believes the state’s investment will be won back through worker tax revenues in about 15 months. “It was a good package,” the governor said after the ceremonial groundbreaking. “We didn’t give away the store.”
The 250,000-square-foot plant, which will be completed in about 18 months, will produce three drinks: Ensure, for adults; Glucerna, for those with diabetes; and PediaSure, for infants and young children.
The company chose Tipp City because of its nearness to interstates 75 and 70, its historical familiarity with Ohio (the company’s nutrition products division was founded in Columbus) and its expectation of a well-trained work force.
"What we did look at was the ability to hire a trained and highly skilled workforce," said John Ginascol, Abbott Nutrition's vice president of supply chain.
Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.
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