Monday, September 28, 2009
COLUMBUS — A state board has signed off on incentives for a company planning to open a call center in the former Phar-Mor Centre.
The Ohio Tax Credit Authority OK'd a five-year, 40 percent tax credit for VXI Global Solutions. The company, in turn, is committing to create 500 jobs in the city.
The refundable tax credits count against what the company would pay in corporate activity or income taxes, based on the state income taxes withheld on new, full-time employees. For example, a company paying $100 in state income tax withholding for a new worker would be credited with $40 toward its other state tax obligations (commercial activity, state income or insurance premium tax liabilities), based on a 40 percent credit.
VXI has been remodeling about 31,000 square feet at 20 Federal Place, which formerly housed Akron-based InfoCision Management Corp. That company closed its Youngstown location in February and relocated the work to Boardman and Austintown.
For details, see Tuesday's Vindicator or Vindy.com.