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Project Announcement Bettcher Industries, in Birmingham/Florence Township, announced a $4.6 million expansion project. Bettcher Industries specializes in the design and innovation of food processing equipment and hand tools. GEM has worked with Bettcher Industries along with the Ohio Department of Development, Erie County, Florence Township and the Firelands School District over the last four years to bring this project to fruition. This expansion project involves a 44,000SF building addition and the acquisition of new machinery & equipment. As a result of this new investment a total of 25 new jobs will be created and the retention of 170 jobs. The State of Ohio awarded a job creation tax credit of 40 percent for five years worth $53,700. The State of Ohio also offered $1 million from the 166 Direct loan with an interest rate of 3% for 15 years and $3.645 million in financing from the Ohio Enterprise Bond Fund. Erie County Commissioners approved a 100%-15 year Ohio Enterprise Zone Program tax incentive for this project. This project was made possible in 2004 when Florence Township agreed to become part of the Erie County Enterprise Zone Program. Thus, locally we were able to be competitive for this expansion project that Georgia was competing for. |
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