VAM USA will add 71 jobs

YOUNGSTOWN

VAM USA LLC expects to create 71 full-time positions, generating $3.2 million in additional annual payroll and retaining $348,333 in existing payroll as a result of the company’s redevelopment project in the city.

VAM is a leading supplier of premium connection solutions for the oil and gas industry in the United States.

The company is among 11 projects approved for assistance by Gov. John Kasich to create 551 jobs and retain 748 jobs statewide. During its monthly meeting, the Ohio Tax Credit Authority reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in $26,531,198 in new payroll, and spur more than $113.4 million in investment across Ohio.

The TCA approved a 75 percent, seven-year Job Creation Tax Credit for VAM USA.