CINCINNATI (Dec. 8, 2 p.m. ET) — The Ohio Tax Credit Authority has awarded Milacron LLC a state tax credit for the plastics machinery maker's recent $1.5 million capital equipment investment expansion at its machining plant in Mount Orab, Ohio.
Milacron is buying three new pieces of metalworking equipment. The plant does machining for Milacron's plastics equipment assembly factory in nearby Batavia, Ohio, and also does contract manufacturing for wind turbines.
The expansion is expected to add at least 35 jobs to the plant's 200-employee workforce. Milacron said the tax incentive is based on its ability to meet that goal over the next three years.
Mount Orab is in Brown County, which has a 10.2 percent unemployment rate, one of the highest in Ohio.
“Given the high unemployment rate in this region, tax incentives are increasingly important in helping companies like Milacron support our growth initiatives,” said John Francy, Milacron's chief financial officer. He said the Brown County Department of Development helped secure the tax credit.
Milacron, the only U.S. owned, broad-line manufacturer of primary plastics equipment, employs more than 710 people in Ohio.
Milacron announced the news in a Dec. 8 news release. The company did not provide details of the tax deal, but published reports said the state awarded Milacron a six-year, 45 percent state tax credit.