The Press Newspaper

Toledo, Ohio & Lake Erie

The Press Newspaper

The Press Newspaper

Share

        The Ohio Tax Credit Authority has approved a 15-year credit for First Solar, Inc., a manufacturer of thin film photovoltaic solar panels, which is constructing a new plant in Lake Township.

        Under the agreement, First Solar will receive a 2.267 percent credit against the company’s commercial activity tax but will be required to maintain operations at the project location for at least 18 years.

        According to information filed with the Ohio Development Services Agency, First Solar expects to create about 1,000 full-time jobs and generate $60 million in new annual payroll by Dec. 31, 2021 at the plant site for employees hired after April 23 of this year.

        In addition, the company will claim the tax credit on payroll generated at the site in excess of the company’s baseline payroll at the site.

        The ODSA said the state had been competing with Michigan and Indiana for the plant.

        The credit is available to businesses creating at 10 new jobs within three years with a minimum annual payroll of $660,000 that pay at least 150 percent of the federal minimum wage.

        In May, the Lake school board and Lake Township trustees approved separate property tax abatement agreements with First Solar.          

        The school board approved an abatement incentive package that exempts the company from paying property taxes for 15 years on the manufacturing facility that is being constructed at the intersection of State Rt. 795 and Tracy Road.

        In lieu of the property taxes, First Solar agreed to pay the school district $898,000 annually for 15 years.

        Wade Gottschalk, executive director of the Wood County Economic Development Commission, said the Penta County Career Center school board has also signed an abatement agreement.

        Abatement agreements are made possible by the state’s enterprise zone program, which provides real and personal property tax exemptions to businesses making investments in Ohio.

        The enterprise zone where First Solar is building covers property in the townships of Lake, Perrysburg, Troy and Middleton as well as the Village of Haskins.

 

 

politicalClimate

Are you concerned that the current political climate will cause violence?
1072931365 [{"id":"289","title":"Yes, I'm afraid of assassinations","votes":"6","pct":60,"type":"x","order":"1","resources":[]},{"id":"290","title":"Yes, we need to tone down emotions","votes":"3","pct":30,"type":"x","order":"2","resources":[]},{"id":"291","title":"No, we have been divided before","votes":"1","pct":10,"type":"x","order":"3","resources":[]}] ["#194e84","#3b6b9c","#1f242a","#37414a","#60bb22","#f2babb"] sbar 160 160 /component/communitypolls/vote/105-politicalclimate No answer selected. Please try again. Thank you for your vote. Answers Votes ...