Packaging company Bell Inc. will open its first eastern-U.S. facility in Central Ohio and bring 275 new jobs to the region, drawn by state and local tax incentives awarded Monday.
Sioux Falls, South Dakota-based Bell plans to invest $30 million in new printing and folding carton conversion equipment (more here on what Bell does) and facility build-out as well as recruitment and training, the company said.
The Ohio Tax Credit Authority approved a 1.377 percent, 7-year tax credit for the creation of $9.2 million in new annual payroll as a result of the company’s investment, based on the state’s new method of calculating tax incentives that is based on payroll rather than tax withholding. The incentives carry an estimated value of $744,000.
“Obviously a lot of factors went into (choosing Central Ohio),” CEO Benjamin Graham told me. “Paramount was the support that we received both with JobsOhio and Columbus 2020.”
The Ohio Development Services Agency reported Monday that Ohio faced "strong interstate competition" from Indiana in attracting the project. Indiana offered aggressive incentives, lower real estate costs and a right-to-work environment.
Specifics have not been identified for local incentives provided to Bell, which produces paperboard cartons for use by food producers, mailers, quick-serve restaurants and consumer products.
Bell has not selected a site for its facility but Graham said the decision is down to two addresses and the winner will be announced in the next seven to 10 days.
“We’re in the very, very end of that search,” Graham said.
The company will employ 275 at the facility, hiring in early 2016 for positions including press operators, machine operators and production employees.
The Ohio Tax Credit Authority on Monday awarded incentives to eight other companies, including four others in Central Ohio.