COLUMBUS—State Senator Michael Rulli
(R-Salem) today applauded the Ohio Tax Credit Authority for approving Youngstown Tool and Die Company for a 1.467 percent, seven-year Job Creation Tax Credit that is expected to create 60 full-time positions in the City of Youngstown.
"Youngstown Tool and Die is an honest and longstanding local company in Youngstown who is deserving of this opportunity," said Rulli. "I look forward to seeing them continue to grow their operation and employ more of the hard-working people in our district."
During its monthly meeting, the Ohio Tax Credit Authority reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $41 million in new payroll and spur more than $216 million in investments across Ohio.
In total, the credit will generate $2.5 million in new annual payroll and retain $2 million in existing payroll as a result of the company's project. The approval was included along with four additional projects set to create 836 new jobs and retain 939 jobs statewide.
Youngstown Tool & Die Co., Inc was founded in 1961 by Andrew Stanislav. The company's sole business purpose is the manufacturing of extrusion dies and tooling for the aluminum extrusion industry. For more information, click here