(COLUMBUS, Ohio)—Ohio Governor Mike DeWine and Lt. Governor Jon Husted today announced the approval of assistance for two projects set to create 375 new jobs. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $22.9 million in new payroll and spur more than $213 million in investments across Ohio.
Projects approved by the TCA include:
Pharmavite LLC, city of New Albany (Licking County), expects to create 225 full-time positions, generating $14.7 million in new annual payroll as a result of the company’s new project in New Albany. Pharmavite is a manufacturer of vitamin and supplement products under the brand names Nature Made®, MegaFood®, EQUELLE®, and Nurish. The TCA approved a 1.683%, nine-year Job Creation Tax Credit for this project.
Forsee Power Inc., city of Hilliard (Franklin County), expects to create 150 full-time positions, generating $8.2 million in new payroll as a result of the company’s new project in Hilliard. Forsee Power designs and manufactures smart battery systems for a sustainable electric transport, including light vehicles, trucks, trains, and ships. The TCA approved a 1.605%, nine-year Job Creation Tax Credit for this project.