New VW business to get state tax credit

VW independent/submitted information

COLUMBUS — Last week, Ohio Governor John Kasich announced the approval of four northwest Ohio projects recommended to the Ohio Tax Credit Authority by JobsOhio. Specifically, projects to create jobs at MEK Van Wert Inc. in Van Wert and Pratt Paper in Wapakoneta will be positively affected by these recent approvals.

MEK Van Wert expects to create 30 full-time positions, generating $1.3 million in new annual payroll because of the company’s new project in the city of Van Wert. MEK is a machine parts manufacturer and provides engineering, machining, and components expertise. MEK has a worldwide presence, with the new Van Wert location being its first independent company in the United States. The Tax Credit Authority approved a 1.245 percent, seven-year Job Creation Tax Credit for this project.

Pratt Paper LLC expects to create 300 full-time positions, generating $14.4 million in new annual payroll because of the company’s new project in the city of Wapakoneta. Pratt Paper provides corrugated packaging and is a 100 percent recycled paper and packing company. The Tax Credit Authority approved a 1.263 percent, eight-year Job Creation Tax Credit for this project.

“It is great to see the work done by JobsOhio and the Development Services Agency to create jobs in Van Wert and Auglaize counties,” said Rep. Riedel. “From my experience as the divisional sales manager for Nucor Steel, I understand the importance new jobs will have for improving the region’s economic stability. I am thrilled that these two dynamic companies plan to grow in northwest Ohio, increasing opportunity in our communities by creating jobs.”

Riedel continues to serve on the following committees: Ways and Means; Higher Education and Workforce Development; Finance; and Armed Services, Veterans Affairs, and Homeland Security. Riedel currently represents the 82nd Ohio House District, which includes Defiance, Paulding, and Van Wert counties, as well as part of Auglaize County.