A Miamisburg company with plans to expand and add jobs is in line to receive an estimated $518,000 in state tax credits.
United Grinding North America Inc. last month said it planned to add more than 30 jobs as part of a $13 million project to consolidate operations by moving its continental headquarters from Earl Avenue closer to the Austin Boulevard interchange of Interstate 75.
The precision machine supplier was among several Ohio firms that received approval from the Ohio Tax Credit Authority, a state agency announced this week. The authority approved a 1.76 percent, eight-year job creation tax credit for the project, according to the Ohio Development Service Agency.
The tax credits, according to the state agency, are part of an expansion that would bring 41 new full-time jobs that would generate $3.9 million to an annual payroll estimated by the city at $9 million.
“As always, these are estimated values of the potential tax credits if all elements approved by the tax credit authority are met. These are not actual tax credits,” according to an email from Lisa Colbert, a spokeswoman for the ODSA.
“The Job Creation Tax Credit is a performance-based credit,” Colbert stated. “So, the actual value of the tax credit is based on jobs created and new payroll tax generated, as verified.”
United Grinding wants to build a 100,000-square-foot facility on 10 to 15 acres on the west side of the Austin interchange as part of a project that will keep 100 jobs in the city and add 30 more within three years, officials said last month.
However, this week a company spokesman declined to comment, as did Miamisburg City Manager Keith Johnson.
Records indicate the average salaries would be $100,000 a year.
Last month the city accepted a $250,000 Montgomery County Economic Development and Government Equity grant and Miamisburg will also contribute a $100,000 forgivable loan, records show.
United Grinding Chief Financial Officer Stephan Walliser said last month the company had yet to finalize a specific location, but was looking in Austin Business Park and at a lot near Motoman. which is on the Austin interchange’s northwest corner.
The company is part of the United Grinding Group, the world’s leading supplier of precision machines for grinding, eroding, lasering, measuring as well as combination machining, according to its website. The Miamisburg site encompasses operations is Canada, the United States and Mexico, Walliser has said.
The main factors in consolidating its Virginia and Ohio operations are a sharper focus on “strategic growth” and added product lines, he said last month.