Latest news with #CreationTax
Yahoo
01-05-2025
- Business
- Yahoo
Kimberly-Clark commits to Trumbull County plant
WARREN, Ohio (WKBN) – Kimberly-Clark announced that it will build a manufacturing plant in Trumbull County. Read next: Mishap at Girard's Prom Promise event sends 1 to hospital The company's board of directors met to approve the project Thursday afternoon. The million-plus-square-foot facility will be constructed on a former steel mill lot off of Pine Avenue in an area that spans Howland and Warren townships. Kimberly-Clark said in a news release that the 'Warren facility will provide the capacity needed to unleash future growth for Kimberly-Clark's fastest growing personal care categories.' Located within the existing Warren BDM Redevelopment Area, the site was the sixth location to receive site readiness support from the All Ohio Future Fund. A total of $17.2 million from the fund was awarded to the Western Reserve Port Authority to assist in site readiness and road infrastructure. 'We welcome Kimberly-Clark's first investment in Ohio,' said Ohio Governor Mike DeWine. 'Kimberly-Clark has advanced-production facilities all over the world, and the fact that they are now coming to Trumbull County says a great deal about the area's workforce and Ohio's leadership in rebuilding the domestic manufacturing supply.' Thursday's announcement was eagerly anticipated by local and state leaders who awarded the project tax incentives to build the plant in the Mahoning Valley. The Ohio Tax Credit Authority approved a 1.837%, 10-year Job Creation Tax Credit for the project. This follows 10-year, 60% tax credits approved by Howland and Warren townships and Trumbull County commissioners. The plant will create about 491 full-time jobs, generating $49.1 million in payroll by December 2030. 'This is a defining moment for Trumbull County,' said Rick Hernandez, president of the Trumbull County Board of Commissioners. 'The Kimberly-Clark project represents more than just a substantial investment; it's a catalyst for regional revitalization. We anticipate that this development will not only bring hundreds of direct jobs but also attract ancillary businesses, boost housing, and invigorate our local economy.' Kimberly-Clark brands include Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll. Its products are sold in more than 175 countries and territories. Nadine Grimley and Stan Boney contributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
28-04-2025
- Business
- Yahoo
Valley competing with North Carolina for Kimberly Clark project
COLUMBUS, Ohio (WKBN) – The Kimberly-Clark project in Trumbull County is getting a tax credit from Ohio that is helping to push the project along and bolster its competition with North Carolina. Read next: New renderings show major retailer at old mall site The Ohio Tax Credit Authority approved Monday a 1.837%, 10-year Job Creation Tax Credit for the project. This follows tax credits approved by Howland and Warren townships and Trumbull County commissioners. Ohio Governor Mike DeWine said in a news release Monday that the project off of Pine Avenue includes a new facility at the old steel mill site and will create 491 full-time jobs, generating $49.1 million in payroll by December 2030. Warren and Howland townships and Trumbull County commissioners approved a 60%, 10-year tax abatement for the project, and earlier this month, the Ohio Controlling Board approved $17 million to build an access road for the property and complete other Brownfield cleanup work there. The project is pending further review and a final decision by Kimberly-Clark. According to the Ohio Tax Authority, Ohio is competing with North Carolina for the facility. 'State support will help ensure the proposed project moves forward in Ohio,' the Board said in a Scope of Work exhibit. Kimberly-Clark USA, LLC ScopeDownload Kimberly-Clark posted net sales of $4.8 billion in First Quarter 2025, 6.0% lower than the year prior. Negative impacts included 2.4% from foreign currency translation, approximately 2.0% from a combination of the PPE divestiture and the exit of the company's private label diaper business. First quarter operating profit was $769 million compared to $853 million in the prior year. Nadine Grimley and Stan Boney contributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
