Marlena Ballinger

Managing Editor

LEIPSIC - The Ohio Department of Development (ODOD) announced the approval of Job Creation Tax Credits for 16 businesses in Ohio with Pro-Tec being one of the recipients. The tax credits are given through the Ohio Tax Credit Authority.

Pro-Tec Coating Company in Leipsic was awarded a 70 percent job creation tax credit for a ten year term as a result of the company's expansion. The tax credit is estimated at $681,694 over the next ten years. As a condition of getting the grant, ODOD is requiring Pro-Tec to maintain its operations for the next 13 years.

Pro-Tec designed its original production facility featuring a 600,000 ton per year capacity, state of the art, hot-dip continuos galvanizing line, which established the company as the largest plant of its kind in North America.

The expansion project includes the construction of a 415,000 square foot "heavy industry" building to house a new line. The more than $290 million project is expected to create 80 jobs and retain 229 positions.

The Ohio Tax Credit Authority is a five member independent board consisting of taxation and economic development professionals from throughout the state that is responsible for reviewing and proving applications for state tax credit assistance. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit project as well as approving incentives that indicates the state's commitment to the company, and precedes a final decision of the company to accept or decline the tax incentives approved.