The Ohio Tax Credit Authority has approved a state tax credit for the Cattron-Theimeg company to create 55 full-time jobs generating $3 million in payroll to start up a factory in Warren.
The credit also would save the company additional state tax money through retention of $9.5 million in payroll involving 150 jobs that would move from its existing Sharpsville, Pa., facility to Warren.
Sarah A. Boyarko, vice president for economic development, business retention and expansion at the Youngstown/Warren Regional Chamber, said she hopes this is the “one more thing” being offered over the past 10 months that will encourage the company to pick its proposed Warren site.
The company doesn’t have a finalized agreement regarding the proposed Warren location, so Boyarko is “not at liberty” to disclose it, she said.
“I hope we’ll hear something pretty soon,” she added.
Cattron-Theimeg, whose parent company is based in London, England, provides remote-control products and aftermarket services for the mining industry, railroad industry and other industrial markets.
The Sharpsville-based division produces the remote-control devices and is looking at Warren and a Pennsylvania site for the facility, Boyarko said.
Gov. John Kasich announced the tax credit and 12 others from around the state in a news release Monday. The projects come to the TCA from the board of JobsOhio.
The tax credit will reduce the company’s state taxes 55 percent for nine years.
Cattron-Theimeg is the world leader in design, manufacture, installation and service of industrial portable radio remote controls for overhead crane and material-handling applications, according to the company’s website.