The Authority approved a 1.950 percent, seven-year “job creation tax credit” for the project.
The estimated value of the credit to Tangram Flex is $500,000, a representative of the Authority said. The tax credit is based on jobs created and new payroll tax generated, as verified by the state.
According to project notes provided by the state, Ohio is competing with New York for this expansion.
Tangram Flex provides customized system integration software toolkits and services to help defense industry customers modernize mission-critical systems.
Tangram Flex was spun out of Portland, Ore.-based Galois in 2018, with an early focus on working with the Department of Defense on making equipment and technology more adaptable. The company is located in the Avant-Garde building at 607 E. Third St., in downtown Dayton.
In all Monday, the Tax Credit Authority approved credits for 16 projects statewide, projects set to create a total of 4,183 new jobs and retain 1,051 existing jobs statewide.
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