Two companies located in Wood County were recently awarded tax credit funding that will result in local economic development and job creation.
A total of 260 jobs are expected to be created.
The Ohio Tax Credit Authority approved a 1.362%, eight-year Job Creation Tax Credit for Vehtek Systems Inc., to open a new facility in Bowling Green. The funding is expected to create 120 full-time positions and generate $5.9 million in new annual payroll.
Vehtek Systems designs, develops, and manufactures automotive systems, assemblies, modules, and components primarily for sale to original equipment manufacturers.
The Ohio Tax Credit Authority also approved a 1.329%, eight-year Job Creation Tax Credit for Norplas Industries Inc., for its new location in Rossford. The funding is expected to create 140 full-time positions and generate $6.3 million in new annual payroll.
Norplas designs and manufactures automotive systems for original equipment manufacturers.
