By 1808Delaware, State of Ohio
The Ohio Tax Credit Authority (TCA) recently announced approval of assistance for 15 projects across the State of Ohio. Projects approved are set to create 1,653 new jobs and to retain 1,676 jobs.
A Delaware County company was among those receiving an award.
The TCA reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $99 million in new payroll and to spur more than $304 million in investments across Ohio.
Two Labs LLC in Powell received a 1.757 percent, eight year Job Creation Tax Credit for their project. Officials expect to create 50 full time positions, generating $4.5 million in new annual payroll and retaining $5.6 million in existing payroll through expansion.
Two Labs is a pharma service company that provides business consulting services to drive commercialization and market viability.
Since the company began in 2003, it has led over 200 new product launches and more than 230 in-market projects, according to its website. In that time it has continued to grow through new business and targeted acquisitions, most recently by acquisition CEEK Enterprises.