State OK's tax incentives for Spirex Corp. expansion

COLUMBUS — The Ohio Tax Credit Authority OK’d incentives for a company considering an expansion in Austintown Township.

The 2.317 percent, eight-year tax credit would be used by Spirex Corp. as part of a $22 million-plus project that would create 143 jobs with a payroll of nearly $7.7 million and retain another 100-plus positions with a payroll of $6.3 million.

According to the state’s Development Services Agency, Spirex is considering consolidating out-of-state operations in Florida, Pennsylvania, North Carolina and its existing Boardman operation into a single facility.

The state incentives OK'd Monday are refundable tax credits against what the company would pay in corporate activity or income taxes, based on the state income taxes withheld on new, full-time employees.

The tax credit was approved on a unanimous vote.