Companies get $445K in state tax credits
Two projects to create 125 jobs in Columbus
A logistics company and a bitcoinfocused financial services company received approval Monday for state tax incentives totaling an estimated $445,000 for projects that will create a combined 125 jobs in Columbus.
The two projects were among eight to be approved for state tax incentives by the Ohio Tax Credit Authority. The projects will create 1,105 jobs throughout Ohio and retain 912 others, and lead to investments of $281 million.
Hollingsworth, a Dearborn, Michigan-based logistics company serving the manufacturing and distribution industries, will create 95 jobs and invest $550,000 as part of an expansion of its operation on Columbus’ Southeast Side. The 95 jobs will have an annual payroll of $3.3 million.
The tax credits have an estimated valued of $210,000.
Hiring for customer service representatives, forklift operators, clerks, managers, packers, quality inspectors and warehouse supervisors will begin by the end of September.
The company currently has 16 employees at its operations at 2450 Spiegel Drive, a massive warehouse and distribution building located between Alum Creek Drive and Shook Road near Rickenbacker International Airport and Groveport.
“By building upon our existing footprint in the Columbus region and growing our presence in the Midwest, we are able to provide reduced shipping times and better service to our clients,” Hollingsworth President Mike Mcnamara said in a statement.
River Financial will open a new operations hub in Columbus, creating 30 jobs with an annual payroll of $2.25 million. Hiring for engineering, accounting, cybersecurity and financial analysts will begin immediately.
The operations center will serve as a global hub for accounting, analytics, cybersecurity, compliance and client operations for the company, which began operations in 2019. Its goal is to make Bitcoin more accessible to traditional investors.
No location for the operations center has been established yet.
River Financial, based in San Francisco, began looking for an operations center outside of the region after receiving a new round of investment.
“Following a year of robust growth, we’re excited to expand into Columbus’ innovation ecosystem and continue advancing the adoption of Bitcoin,” River Financial Co-founder and COO Andrew Benson said in a statement. “River Financial has many clients in both Eastern and Central time zones, but very few cities outside of the West Coast have the foundation to support the growing cryptocurrency industry.”
The tax credits have an estimated value of $235,000. mawilliams@dispatch.com @Bizmarkwilliams