CINCINNATI - Southwest Ohio could get 312 new jobs with a pair of expansion projects approved for tax breaks.
A statement from Gov. John Kasich said Festo Americas LLC will create 250 jobs in Mason, while 5Me LLC would create 62 jobs in Union Township, Clermont County.
Festo is manufacturer of robotic technology for factories. The Ohio Tax Credit Authority authorized a 70 percent, 12-year Job Creation Tax Credit for the company in exchange for creating 250 jobs with a $10.3 annual payroll.
5Me creates manufacturing software and handles equipment and tooling needs for its customers. It is being offered a 50 percent, seven-year credit for creating 62 full-time jobs with an annual payroll of $4.7 million.
The companies were among 15 firms offered incentives by the Tax Credit Authority. If all deals evolve as outlined in today's press release, they will create 1,328 jobs and retain 2,681 jobs. Collectively the projects are expected to result in more than $56 million in new payroll, and spur approximately $190 million in investment across Ohio.
The aerospace industry is driving job growth and expansion in Ohio's high-tech manufacturing sector, as WCPO Digital reported last week.