Valencia Project gets tax credit for new location

WYANDOT COUNTY — Valencia Project LLC in Wyandot County has been approved by the Ohio Tax Credit Authority for a 1.54%, eight-year Job Creation Tax Credit on its move to a new location in Salem Township. The project is expected to create 114 full-time positions, generating $9.1 million in new annual payroll, as a result of the company's new location. Valencia is a merchant and processor of agricultural goods to a broad range of businesses, manufacturing products such as food and feed, coffee, cotton, grains, oilseeds and sugar. The proposed project includes the construction and operation of a soybean plant to allow Valencia to be near raw materials and customers. The project was one of 11 projects expected to create 1,636 jobs and retain 1,715 jobs statewide. TCA reviewed economic development proposals suggested by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $141 million in new payroll and spur more than $2.5 billion in investments across Ohio. Also in northwest Ohio, Keller Logistics Group Inc., Keller Industrial Properties LLC, Keller Warehousing & Co-Packing LLC, Thomas E. Keller Trucking LLC, Keller Logistics LLC in Defiance County as approved for a 2.074%, nine-year Job Creation Tax Credit for an expansion that includes the acquisition of a vacant 30,000-square-foot commercial office building to house their professional staff and expand operations. The projects expects to create 194 full-time positions, generating $19 million in new annual payroll and retaining $9.9 million in existing payroll as a result of the company's expansion project in Noble Township. Keller is a logistics company with a focus on trucking, warehousing, freight brokerage and co-packing of projects that supports a large customer base across industries such as transportation and food industry. In Toledo, Mobis US Electrified Powertrain LLC was approved for a 1.486%, eight-year Job Creation Tax Credit for a new location in Toledo. The project is expected to create 185 full-time positions, generating $9.5 million in new annual payroll. Mobis is a Michigan-based company that specialized in manufacturing of metal battery base plates for the electric vehicle industry. The proposed project includes the acquisition of a facility to house production space for manufacturing base plates for numerous EV models.