Tuesday, August 30, 2011
Staff report
AUSTINTOWN
After debating whether or not to expand in Florida, Roth Bros. Inc. of Austintown has decided to keep its money in the Mahoning Valley.
Roth announced Monday it will invest $1.2 million and create 55 jobs during the next three years.
The company made the announcement after it received a 40-percent, six-year job-creation tax credit, which was approved by the Ohio Tax Credit Authority. The tax credit is valued at $263,492.
Roth plans to spend about $900,000 on renovations to its facility. The company will spend about $300,000 on new machinery and equipment.
The nearly 80-year-old company plans to hire 55 additional workers at an average wage of $15 an hour. Roth already employs nearly 500.
Roth Bros., 3847 Crum Road, is a leader in the construction industry of engineered HVAC, roofing and building facility services including energy management, electrical services and performance contracting.
The Ohio Job Creation Tax Credit provides a Commercial Activity Tax credit for businesses that expand or locate in Ohio.
The tax authority determines eligibility, rates and terms based on the number of created jobs, new payroll generated, fixed-asset investments and the extent of interstate competition.
Company officials did not respond to a request to comment.