State of Ohio Supports Milacron Job Creation with Tax IncentiveMarch 1, 2012
Milacron LLC was recently awarded an employee tax incentive from the Ohio Tax Credit Authority to support the company's creation of jobs in Brown County.
The incentive is based on Milacron's recent $1.5 million capital investment for equipment to expand capabilities at its Mt. Orab facility. The expansion is expected to add at least 35 new jobs to the plant's existing 199-person workforce, and the incentive is based on the company's ability to meet this goal over the next three years.
Currently, Brown County has an unemployment rate of 10.2%, one of the highest in the State of Ohio. By providing incentives for manufacturing corporations like Milacron, the Ohio Tax Credit Authority is helping stimulate immediate job creation in the region, as well as giving corporations tools for expanding their infrastructure to create sustainable long-term job growth into the future.
"Given the high unemployment rate in this region, tax incentives are increasingly important in helping companies like Milacron support our growth initiatives," said John Francy, Milacron LLC's Chief Financial Officer. "We want to recognize the contribution of the Brown County Department of Development in helping us secure this incentive."
Milacron continues to demonstrate a firm commitment to the economic success of the state. Not only are its corporate headquarters based in Ohio, four of its six business units are located there as well, providing more than 710 regional jobs.
"With strong roots in Ohio, Milacron is the only plastics injection molding machinery manufacturer still based in the United States. This tax incentive supports our mission to provide American manufacturers with the equipment and machinery they need to be successful," said Francy.
For more information contact:
3010 Disney Street
Cincinnati, OH 45209