Ohio OKs $2.6 million in incentives for V&M Star Steel

The Ohio Tax Credit Authority OK’d tax incentives valued at an estimated $2.6 million for a steel company considering an expansion on the borders of Youngstown and Girard.

The board unanimously approved the 10-year, 75 percent tax credit for V&M Star Steel. The incentives are refundable tax credits against what companies pay in corporate activity or income taxes, based on the state income taxes withheld on its new, full-time employees.

Company President Roger Lindgren said several sites are being considered for the project, and no final decisions have been made.