Deceuninck Gets Tax Credits for Job-Creation Program

December 6th, 2017 by Editor

The Ohio Tax Credit Authority announced this week that it will provide approximately $400,000 in tax credits over seven years to Deceuninck North America for a job-creation program at the company’s Monroe, Ohio headquarters. As part of the program, Deceuninck North America will continue its ongoing investments in capital and equipment improvements.

According to a release from the company, Regional Economic Development Initiative (REDI) Cincinnati was instrumental in securing the tax credits.

“As Deceuninck North America bolsters our workforce and manufacturing capabilities, we are grateful to the state of Ohio and REDI Cincinnati for their support,” said Filip Geeraert, president and CEO of Deceuninck North America, in a statement to DWM. “Our employees are the backbone of our success and the source of the company’s restless spirit of innovation.”

Deceuninck will add to an existing building and invest in  infrastructure improvements and new machinery and equipment, according to the Cincinnati Business Journal, which also reported that the ongoing $27 million expansion is expected to create 85 new jobs, paying an annual average salary of more than $52,400, by the end of 2020. The project would also retain 480 current jobs.

The Cincinnati Business Journal said Ohio was in competition with Nevada for the proposed project, according to documents from Ohio Development Services Agency. Deceuninck has a facility in Fernley, Nev, that opened last fall.

“State support will help Deceuninck make necessary adjustments to its Ohio facility to increase job growth and handle anticipated sales growth,” the Ohio Development Services Agency report states, according to the Cincinnati Business Journal.

Deceuninck must maintain operations at the project location for at least ten years to preserve the tax credit.

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