Latest news with #JobCreationTaxCredit
Yahoo
01-05-2025
- Business
- Yahoo
Governor DeWine, Lt. Governor Tressel Announce Kimberly-Clark to Bring 491 Jobs to Ohio
Warren, Ohio, Facility Warren, Ohio, May 01, 2025 (GLOBE NEWSWIRE) -- WARREN, Ohio) — Ohio Governor Mike DeWine, Lt. Governor Jim Tressel, JobsOhio President and CEO J.P. Nauseef, and Ohio Department of Development Director Lydia Mihalik announced today that the Kimberly-Clark Corporation, one of the world's leading manufacturers of personal care and hygiene products, will establish an $800 million advanced manufacturing facility in Trumbull County, bringing an anticipated 491 new high-quality jobs. The company's board of directors met to approve the project this afternoon, following the Ohio Tax Credit Authority's approval of a 10-year Job Creation Tax Credit earlier this week. '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.' 'Ohio's deep commitment to workforce development further reinforced Kimberly-Clark's decision to choose Trumbull County for its newest investment,' said Lt. Governor Jim Tressel. 'We look forward to partnering with Kimberly-Clark as it constructs a cutting-edge facility and scales its production with skilled talent from the Mahoning Valley.' For Kimberly-Clark, this new facility would be its first in Ohio and represents not just a strategic expansion, but a decisive step in doubling down on growth in the American market. 'Our investment in Warren is a pivotal step forward in our North America business and strategy,' said Tamera Fenske, chief supply chain officer, Kimberly-Clark. 'By establishing a new, state-of-the-art manufacturing facility in Ohio, we're enhancing our ability to serve millions of consumers across the Midwest and Northeast with greater speed, agility, and resilience. It's a once-in-a-career opportunity to build a facility from the ground up that reflects the future of manufacturing, and with the support of local partners like JobsOhio, the Department of Development, Lake to River, Western Reserve Port Authority, and local governments, we have the unique opportunity to create high-quality jobs and long-term economic impact in the region.' Spread across more than one million square feet, the Warren facility will provide the manufacturing capacity needed to unleash future growth for Kimberly-Clark's fastest-growing personal care categories that include Baby & Child Care and Adult & Feminine Care. Warren is in geographic proximity to roughly 117 million consumers and will serve as a strategic hub for the Northeast and Midwest regions. Construction is expected to begin this month and will take up to two years. 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 last month to assist in site readiness and road infrastructure supporting industry and the broader community. The Trumbull County property spans Howland Township, Warren Township, and the City of Warren and includes sufficient acreage for future growth. Based in Dallas and employing 46,000 people in 34 countries, the company's portfolio of brands also includes 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. Kimberly-Clark's decision to invest in Trumbull County reflects the compelling advantages that continue to make Ohio a top destination for global companies. The state's pro-business climate, reliable and affordable energy infrastructure, and central location within a day's drive of more than half of the U.S. population were all key factors. 'Kimberly-Clark's decision to make its first Ohio investment in Trumbull County would not have happened without close collaboration from our partner at Lake to River as well as at the state and local level to establish a site that is attractive for both rapid development and long-term growth,' said JobsOhio President and CEO J.P. Nauseef. 'We all look forward to working closely alongside Kimberly-Clark as it launches its new operations and creates 491 jobs at a new, cutting-edge manufacturing facility.' The local groundwork that helped bring Kimberly-Clark to Eastern Ohio was the result of years of planning and coordinated efforts by the JobsOhio Network. JobsOhio plans to provide assistance for the project, which will be made public after a final agreement is executed. 'This project is the culmination of deep, sustained engagement by our team to build trust with Kimberly-Clark and demonstrate the real value of locating in Trumbull County,' said Alexa Sweeney Blackann, interim CEO of Lake to River. 'From early conversations to site tours and collaborative problem-solving, we worked closely with local, regional, and state partners to ensure Kimberly-Clark had access to every resource and incentive they needed to feel confident in choosing this community. It's incredibly rewarding to see that effort result in an investment of this magnitude, and we're ready to keep that momentum going as they move into the next phase.' Local government officials also played an instrumental role in making the Trumbull County site a winning contender. Their ability to respond quickly and coordinate essential infrastructure planning demonstrated the community's readiness for a project of this scale. "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.' The project's success was also made possible through key support from the Ohio Department of Development, which worked swiftly to clear the path for Kimberly-Clark's investment. The department's efforts were essential in ensuring Ohio remained competitive in the final decision-making process. 'Big wins like this are the result of vision, preparation, and partnership,' said Development Director Lydia Mihalik. 'We worked hand-in-hand with our partners to prepare this site, showcase its potential, and open the door for Kimberly-Clark's investment. Today, Trumbull County is positioned for a powerful new chapter — one defined by jobs, growth, and lasting momentum." The following are additional comments attributed to local business and community leaders regarding today's Kimberly-Clark announcement. Dave Joyce, U.S. Representative (OH-14)"The decision to invest in Trumbull County shows the strength of our workforce and logistics infrastructure. I am grateful for the local partners, like Lake to River and JobsOhio, for helping execute this major project that will help bring hundreds of good-paying jobs to the region. This long-term investment here at home sets the stage for even more growth in our community.' Chuck George, Board Chairman, Lake to River"Wins like this validate the bold vision that brought Lake to River into existence. This is one of the largest private economic development projects our region has seen in a generation." Nick Santucci, State Representative (R-65th District)"This is an exciting day for Trumbull County and all of Eastern Ohio. Kimberly-Clark's commitment to building a state-of-the-art facility here is a testament to the planning, collaboration and competitiveness that define our community. With nearly 500 permanent jobs and hundreds more in construction, this project represents real opportunity for local families – and it proves that when we invest in site readiness and talent, companies like Kimberly-Clark choose Ohio." Anthony Trevena, Executive Director, Western Reserve Port Authority'Now is when the real work begins. Bringing a global company like Kimberly-Clark is the result of sustained collaboration, bold site development and the reality that this region is positioned to meet global demand. This project demonstrates what is possible when public and private partners align around a common goal and when we invest in preparing sites that meet the moment. It sends a powerful signal to other companies that the Mahoning Valley is ready.' Guy Coviello, President & CEO, Youngstown Warren Regional Chamber"The public and private partners that worked together to secure this transformational opportunity shows just how far the Valley has progressed away from its rigid, parochial mindset toward regional collaboration. We especially thank Sarah Boyarko, vice president of economic development for Lake to River Economic Development, for introducing this site to Kimberly-Clark, and for her perseverance to see the project across the finish line." Martin Loney, Chairman of the Western Reserve Port Authority'On behalf of the Western Reserve Port Authority and our Board of Directors, I would like to commend Kimberly-Clark's Board of Directors on this monumental announcement. From the very beginning, our support for this project has been steadfast, and we remain committed through every phase of its development.' Sam Covelli, Vice Chairman of the Western Reserve Port Authority'This generational investment in Howland Township, the City of Warren and Warren Township will have positive impacts in Mahoning and Trumbull Counties and support the long-term vision of the Valley.' MEDIA CONTACTS:Governor Mike DeWine:Dan Tierney: 614-644-0957Jill Del Greco: 614-644-0957 Kimberly-Clark Media JobsOhioMatt Englehart614-300-1152englehart@ Attachment Warren, Ohio, Facility CONTACT: Matt Englehart JobsOhio 614-300-1152 engelhart@ in to access your portfolio
Axios
10-03-2025
- Business
- Axios
Intel's new timeline conflicts with promised deadline
After another round of delays, Intel's Licking County project timeline now appears to be at odds with promises the company made to the state of Ohio. Why it matters: Intel has already received hundreds of millions of dollars from the state for the construction of its planned $20 billion semiconductor factory. If Intel's new projections are accurate, Ohio can decide whether to claw back funds or amend the agreement. Follow the money: In 2023, Ohio agreed to a $600 million onshoring grant funding the construction of two chip factories. The state disbursed the money three months later, setting a project deadline of Dec. 31, 2028. Ohio also committed to a $300 million water reclamation grant, a $475 million Job Creation Tax Credit and about $300 million in road and infrastructure work. New Albany is also spending $180 million on infrastructure for Intel, and the federal CHIPS Act provided $7.86 billion for various Intel projects, $2.2 billion of which has already been distributed. State of play: Despite that 2028 deadline, Intel's latest timeline announcement explicitly says it plans to complete its production facilities, or "fabs," in 2030 and 2031, respectively. The company cited a need to "align the start of production of our fabs with the needs of our business and broader market demand." Between the lines: Department of Development spokesperson Mason Waldvogel confirms to Axios that Intel has received the full $600 million for construction, but has not yet received water reclamation and tax credit funds. What they're saying: Neither Intel nor state officials have an explanation for the timeline discrepancy. Waldvogel says Intel has not requested to amend its agreement and has until a year before the required deadline to do so. "While Intel has indicated a later completion date, construction timelines are estimates and can be moved up." Intel spokesperson Eleonora Akopyan declined to answer Axios' questions about the timeline. Instead, she pointed to language in the announcement that says Intel is "maintaining the flexibility to accelerate work and the start of operations if customer demand warrants." A bird's-eye view of progress Amid project delays and company uncertainty, work is still ongoing at the Ohio One site. Driving the news: Intel released new drone footage showcasing the massive scope of construction, which is reshaping not just New Albany, but the whole region. By the numbers: Intel says crews have already worked more than 6.4 million hours on the project. Waldvogel tells Axios that Ohioans from 83 counties and 430 Ohio companies have worked on the project. As a whole, Intel promised to create 7,000 construction jobs in addition to 3,000 permanent full-time jobs, and $405 million in annual payroll.
Axios
31-01-2025
- Business
- Axios
Anduril promises major job growth for state tax breaks
Two weeks after Anduril Industries announced plans for a $1 billion, 5-million-square-foot production facility near Rickenbacker airport, more development details have emerged. Why it matters: The autonomous weapons manufacturer will receive hundreds of millions of dollars in state incentives. In return, the company promises to create thousands of local jobs over the next decade at the site dubbed "Arsenal-1." Follow the money: Gov. Mike DeWine and the Ohio Department of Development announced Monday a 2.594 percent, 30-year Job Creation Tax Credit that will save Anduril an estimated $450 million. That's the second-largest tax credit of its kind in Ohio history, just shy of the $475 million package awarded to Intel. Pickaway County will also request $70 million from the state's All Ohio Future Fund to help with site prep. The fine print: The incentives deal is still being finalized, but a Department of Development spokesperson confirmed that Anduril has committed to creating 4,008 full-time jobs by the end of 2035 that will generate over $530 million in new annual payroll. Anduril pledges to invest $910 million toward the site by the end of 2035, and will be required to maintain operations there until 2058. The company will employ a few hundred people to start and gradually ramp up production. Between the lines: The deal was based on a "very conservative calculation" that Arsenal-1 will be a net positive, says J.P. Nauseef, president and CEO of JobsOhio, the state's private economic development corporation. Nauseef tells Axios that 98% of JobsOhio incentive deals comply and meet commitments. How it works: Funding and reimbursement are doled out at specific milestones "so we don't overexpose ourselves upfront," Nauseef says. State and private partners are willing to "find ways to help them be successful," but will pursue legal action if those benchmarks aren't hit. "We will not be taken advantage of." State of play: Anduril spent a year examining 400 sites across the Lower 48 states before narrowing the venue to Ohio, Arizona and Texas. What they found: In Columbus, the company gains a unique mix of amenities and geographical bonuses along with the $450 million welcome package. Proximity to Rickenbacker offers runway space certified for military cargo and airlift, plus broader access to the region's defense, aerospace, national security and Air Force industry. Columbus' centrally located supply chain has better ground, rail and air access than most areas of the country. The Intel project paid dividends — Ohio leaders' "history of working with companies that they're bringing here for large projects" also contributed, SVP of strategy Zach Mears tells Axios. What they're saying:"I think this is emblematic of what Ohio has done well to not just attract us, but companies like Intel and Joby Aviation," Mears told us. "They have a number of tools by which to understand our need and to effectively align incentives that incentivize us to deliver economic outcomes, jobs and a healthy business base here in Ohio." Zoom in: Anduril's campus will mostly sit south of Rickenbacker and just east of a group of nearby warehouses and distribution centers, per a map shared with Axios. What's next: Intel's semiconductor factory is taking many years to build, but Anduril expects a much quicker production timeline. Mears says the company aims to start delivering its Fury autonomous air vehicle out of an existing building as early as July 2026. Next will come Barracuda cruise missiles, Roadrunner autonomous twin turbojet vehicles and more. Production is expected to increase from dozens in the first few years to eventually thousands over the next decade. Anduril is motivated to move quickly because of tangible commitments. The company already has "committed orders" and "clear production contracts that are driving delivery and timeliness," Mears tells us. "The nature of what we need to deliver quickly to our customers is going to, perhaps, confound what the experience has been like for some of the more recent deals here."
