Two companies located in Wood County were recently awarded tax credit funding that will result in local economic development and job creation.
Vehtek Systems Inc., Bowling Green, expects to create 120 full-time positions, generating $5.9 million in new annual payroll, as a result of the company’s new location in Bowling Green.
Vehtek Systems designs, develops, and manufactures automotive systems, assemblies, modules, and components primarily for sale to original equipment manufacturers. The proposed project includes the lease of a new facility to house production of a new contracts to produce front and rear door components for electric vehicles.
The Ohio Tax Credit Authority approved a 1.362%, eight-year Job Creation Tax Credit for this project.
Norplas Industries Inc., Rossford, expects to create 140 full-time positions, generating more than $6.3 million in new annual payroll, as a result of the company’s new location.
Norplas designs and manufactures automotive systems for original equipment manufacturers. The proposed project includes the lease and buildout of a new facility to house production of a new contract to produce a battery case/tray.
TCA approved a 1.329%, eight-year Job Creation Tax Credit for this project.
