A lithium battery company near Jeffersonville and a British artificial intelligence and software consulting firm plan expansions around central Ohio, two of five statewide projects announced by the Ohio Tax Credit Authority Sept. 28.
The five projects will create 1,173 jobs and bring more than $431 million in investments, according to Gov. Mike DeWine and the state's development director Lydia Mihalik. In addition to the new jobs, the tax incentives will help retain 601 jobs. Overall, the state expects more than $79 million in new payroll.
Central Ohio
Neptune North, Inc., headquartered in New Castle in the United Kingdom, expects to create 75 full-time-equivalent positions, generating $6 million in new annual payroll by Dec. 31, 2029. The AI, software and
consulting services firm assists businesses in the finance and defense industries.
"The Columbus Region gives Neptune North access to the exceptional talent, business community and connectivity we need to serve U.S. clients and build a strong foundation for long-term growth,” James Beard, CEO of Neptune North, said in a release.
The local team will include software developers, data engineer and other technology professionals. The credit authority approved a 1.45%, eight-year job creation tax credit for the expansion in an unspecified location in Ohio.
Jeffersonville (Fayette County)
Sebang Lithium Battery Ohio LLC expects to create 443 full-time-equivalent positions, generating more than $37.1 million in new annual payroll by Dec. 31, 2029, as a result of the company’s project in the village of Jeffersonville. The South Korean company manufactures li-ion battery packs for electric vehicles, forklifts, and other vehicles.
The proposed project would establish the company’s first U.S. facility. The company will build energy storage system modules and other battery packs supporting the automotive and energy industries.
Jeffersonville is also the home of the$4 billion battery plant collaboration between Honda and LG Energy Solution. In a July 1 news release,the joint venture announced the start of lithium-ion battery cell mass production for both automotive and "stationary power" applications.
The tax credit authority 2%, 10-year job creation tax credit for the Sebang project.
Elsewhere in Ohio
The state also announced these projects:
- Polyethics Industries Inc. expects to create 250 full-time-equivalent positions, generating $12 million in new annual payroll by Dec. 31, 2030, in the village of Antwerp (Paulding County). The tax authority approved a 1.44%, eight-year job creation tax credit for the project.
- Wal-Mart Associates, Inc. expects to create 315 full-time-equivalent positions, generating $19,5 million in new annual payroll by Dec. 31, 2029, as a result of the company’s project in Turtlecreek Township and the city of Monroe (Warren County). The credit authority approved a 1.66%, nine-year job creation tax credit for the project.
- HC Companies, Inc. (Growscape) expects to create 90 full-time-equivalent positions, generating $4.4 million in new annual payroll by Dec. 31, 2029, as a result of the rapid expansion in the village of Middlefield (Geauga County) and city of Twinsburg (Summit County). The credit authority approved a 1.25%, seven-year job creation tax credit for the project.
This article originally appeared on The Columbus Dispatch: South Korean lithium battery company to build in Jeffersonville
