A Canadian blow molder has been approved to receive a tax credit for a new plant in Ohio although it is unclear if that is where the firm plans to expand.
Axium Plastics LLC was been awarded a 55 percent Ohio Job Creation Tax Credit for a seven-year term for a plant in New Albany, Ohio, according to a March 28 news release from the Ohio Department of Development.
According to the release, the project includes the construction of a 110,000-square-foot facility to house manufacturing and research and development functions. The $16.2 million project is expected to create 165 jobs.
The value of the tax credit is estimated at $449,000 over the term, and Mississauga, Ontario-based Axium would be required to maintain operations at the project site for 10 years.
According to a March 28 story in the Newark, Ohio, Advocate newspaper, Axium also is considering a site near Chicago for its U.S. plant.
The New Albany, Ohio, village council on April 5 is scheduled to consider a proposed tax abatement of up to 100 percent for 15 years for Axium.
Notable companies headquartered in the Columbus suburb of New Albany include Commercial Vehicle Group Inc., a global supplier of cab systems in the heavy-duty truck, construction and agricultural equipment markets. The proposed Axium site would be near CVG's operations center.
Axium is a specialized extrusion blow molder of rigid plastic containers, serving personal-care and beauty, food and dietary supplements, and automotive and general goods markets.
Axium officials were not available for comment.