- McWane Ductile of Coshocton provided a job creation tax credit of 1.327% over six years worth $200,000.
- The project will create 50 full-time jobs and result in a new annual payroll of $2.6 million by the end of 2025.
- The Coshocton plant is competing with a plant in Utah to expand the manufacturing facility and purchase a new annealing line.
- McWane in Coshocton has about 500 employees and last invested $17.5 million to expand pipe finishing in 2017.
COSHOCTON — McWane Ductile of Coshocton is expanding a local plant that is expected to create 50 new full-time jobs and represent a total investment of $45 million.
The Ohio Tax Credit Authority recently provided a 1.372% six-year job creation tax credit for the project. The expansion is estimated to generate $2.6 million in new annual payroll and help retain $31.6 million in existing payroll by December 31, 2025.
The TCA estimates the value of the tax credit at $200,000. However, it is performance based and the actual value is directly related to the actual number of jobs created and new payroll taxes generated.
According to the scope of work document submitted to the TCA, the Ohio facility is competing for expansion with a plant in Utah. He said state support will help ensure the proposed project is done in Ohio.
The project includes the renovation and expansion of the Coshocton plant, the improvement of infrastructure and the addition of a new annealing line. The Coshocton Port Authority expressed support for the project in a letter to the TCA dated March 2.
“We are delighted that they are leading Coshocton in this significant investment and commitment to their customers and employees. We are very grateful that McWane Ductile continues to choose Coshocton and our community,” Coshocton Port Authority Director Tiffany Swigert said in a press release.
A press release about the project also touted a strategic partnership between JobsOhio and Ohio Southeast Economic Development to bolster McWane’s talent retention and recruitment strategies. Talent acquisition services will help recruit and build a pipeline of electrical and industrial maintenance talent to support extended operations over one to two years, OhioSE President Mike Jacoby said in the communicated.
“This is not a loan or grant, but an investment on behalf of the company by JobsOhio Talent team members and JobsOhio partners with custom solutions to help attract and retain employees from quality,” Jacoby said. “These are unique times and finding and nurturing talent is the greatest need among businesses across the country. McWane has been a longtime and valuable contributor to Southeast Ohio’s economy and we are pleased to provide these specialized professional services.
McWane in Coshocton produces ductile iron pipe used in underground infrastructure and utility poles in demand in hazard-prone areas, such as those devastated by wildfires and hurricanes.
McWane is currently seeking 25 entry-level production positions through Ohio Means Jobs of Coshocton County. According to a 2019 article with the Tribune, McWane had about 500 employees, the majority of them in the pipe manufacturing division. The company last invested $17.5 million locally in 2017 to expand pipe finishing. McWane is Coshocton County’s second largest employer, behind Kraft-Heinz with approximately 750 employees.
“The opportunities presented by this partnership cannot be overstated, and we are proud to work with JobsOhio, Ohio Southeast Economic Development and the Port Authority of Coshocton to take this important step toward our state’s shared vision for long-term economic resilience. term,” said Tom Crawford. , general manager of McWane Ductile of Ohio, in the statement. “By linking capital investment to job growth, these incentives provide a win-win situation, strengthening Ohio’s market competitiveness while securing our Coshocton workforce to support their families and our local economy.
Leonard Hayhurst is community content coordinator and generalist reporter for the Coshocton Tribune with nearly 15 years of local journalism experience and multiple awards from the Ohio Associated Press. He can be reached at 740-295-3417 or firstname.lastname@example.org. Follow him on Twitter at @llhayhurst.