Ohio state tax credits will aid the expansions of Northeast Ohio-based Omnova Solutions Inc., a chemicals company that will contribute to the growth of jobs in the region.
On May 23, the Ohio Tax Credit Authority approved incentives for the Beachwood, Ohio, company — along with Boston Retail Products Inc., a producer of shelving and retail fixtures based in Youngstown, Ohio.
Omnova expects to create 43 full-time positions and $4.7 million in annual payroll by Dec. 31, 2024. The company is a subsidiary of Synthomer plc, a British polymer supplier that acquired Omnova in early 2020.
According to project notes provided by the Ohio Department of Development, Synthomer is seeking a home for an adhesive resins division.