900 new jobs will come from state tax credits

State tax credits approved Monday pave the way for 900 new jobs at a Bed Bath and Beyond e-commerce center in Monroe.

The Ohio Tax Credit Authority has approved a 1.467 percent, 10-year Job Creation Tax Credit for the project located on 62 acres off Salzman Road, across from the Kohl’s Distribution Center. The 827,080-square-foot facility will create approximately 900 fulltime jobs generating $26.6 million in new annual payroll, officials said.

Construction of the facility, which is a $39.7 million investment, is anticipated to be completed by winter 2019.

Not including Bed Bath & Beyond, Monroe has seen six projects approved for Ohio tax credits in the past five years for companies including Amazon. com, Deceuninck North America, Hayneedle, SSB Manufacturing Company and UGN, according to Ohio Development Services Agency data.

That’s a total estimated investment of nearly $107 million, creating 1,492 jobs and retaining 741, the data show.

“Job Creation Tax Credits can be an important part of a project’s incentive package,” said Jennifer Patterson, Monroe’s assistant to the city manager. “We appreciate REDI Cincinnati and JobsOhio for recognizing that 900 full-time positions will benefit residents of Monroe and its surrounding communities.”

The project “is a testament to the continued growth of Greater Cincinnati and we are proud to support Monroe’s continued growth,” said Johnna Reeder, president & CEO of REDI Cincinnati, the first point-of-contact for companies locating or growing in the 15-county region. Contact this reporter at 513-7555126 or email Eric.Schwartzberg@coxinc.com.

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