SP Data Ohio to create 400 jobs...
Link to Dan Plashkes, SP Data's CEO - TV Interview - part 1
Link to Dan Plashkes, SP Data's CEO - TV Interview - part 2
Link to WKYC.com Article
Link to Newspaper Article
OHIO - Department of Develpment - News Room
JOB CREATION TAX CREDITS APPROVED FOR BUSINESS EXPANSION
Projects Expected to Generate Investments to Ohio’s Economy
For immediate release
October 27, 2008
COLUMBUS – Lieutenant Governor Lee Fisher today announced that the Ohio Tax Credit Authority has approved Job Creation and Job Retention Tax Credits for 14 businesses involved in location or expansion projects that, if located in Ohio, are expected to create 1,620 jobs, and retain 3,388 positions for Ohioans.
“Our state’s commitment to the growth of opportunity and prosperity for all Ohioans is evidenced by today’s investments in these companies,” said Lt. Governor Lee Fisher, who also serves as Director of the Ohio Department of Development. “Ohio’s welcoming business environment and forward-thinking tax structure work in concert to build a bright future for both multinational corporations and innovative start-ups.”
S&P Data, LLC, (SP Data), to be located in the Village of Richfield (Summit County), has been awarded a 35 percent job creation tax credit for a five-year term for the establishment of a new facility in the Village of Richfield. The value of the tax credit is estimated at $311,231 over the term, and the company would be required to maintain operations at the project site for 10 years. A call center industry leader, SP Data employs 700 people globally. SP Data provides outsourced inbound customer care service to multi-national corporation clients. The project in Richfield involves leasing an existing vacant building. This $175,000 project is expected to create 400 positions within three years of the project’s initial operations.
The Job Creation Tax Credit is a refundable tax credit against the Commercial Activity Tax or income tax. The Job Retention Tax Credit is a non-refundable tax credit against the Commercial Activity Tax or income tax. The credits equal a percentage of new state income tax withheld on retained, full-time employees in Ohio. The Ohio Tax Credit Authority is a five-member independent board consisting of taxation and economic development professionals from throughout the state that is responsible for reviewing and approving applications for state tax credit assistance. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects. The Ohio Tax Credit Authority’s approval of incentives indicates the state’s commitment to the company, and precedes a final decision of the company to accept or decline the tax incentives approved.