State OKs tax credit

State OKs tax credit

Brookfield

Gov. John Kasich’s office announced Monday the approval of a 55 percent, seven-year job-creation tax credit for J-W Measurement’s relocation to Brookfield.

Details of the project, such as a time line and specific location, were unclear late Monday, but the company’s new facility is expected to create 150 full-time positions, generating $6.8 million in additional annual payroll, according to Kasich’s office.

J-W Measurement offers engineered gas measurement equipment, supplies and services to the oil and gas industry. It has facilities across the U.S.

FNB stock offering

hermitage, pa.

First National Bank of Pennsylvania on Monday said it intends to issue $50 million in common stock and up to $100 million in preferred stock.

The capital raised is designed to help the bank grow and prepare for more-stringent banking regulations.

For more information about the stock offering, visit www.fnbcorporation.com.

The company also announced Monday that it had completed the opening of its new regional headquarters in Cleveland.

S&P hits record high, but barely

NEW YORK

It was another record day for stocks, but barely.

The Standard & Poor’s 500 index closed at an all-time high Monday, but by a small margin. The S&P 500 edged up 2.34 points, or 0.1 percent, to a record 1,762.11 after good news from J.C. Penney offset disappointing earnings from a few U.S. companies.

J.C. Penney rose the most in the index after the retailer’s CEO said sales were improving. That helped stocks overcome poor earnings and a weak forecast from drug-maker Merck. Roper Industries, a medical- and industrial-equipment manufacturer, also lowered its earnings estimate for the year.

The S&P 500 has performed well in October, closing at an all-time high six times. A deal in Washington that ended a partial government shutdown and kept the U.S. government from defaulting on its debt has helped drive up the index.

Vindicator staff/wire reports