Aurora Plastics of Streetsboro is in line for a state tax credit for an expansion expected to generate 19 full-time jobs.
The Ohio Tax Credit Authority approved the credit, with an estimated value of $91,107, this week. The credit would be paid over five years — if the company creates the jobs, generating $1.5 million in additional annual payroll. The company currently employs about 50 and has a payroll of $3.4 million a year.
Aurora Plastics, founded in 1997, makes PVC compounds — in powder and pellet form — for the window, fencing, siding, decking and pipe markets, a company spokesman said.
The company has a second production facility in Welcome, N.C.
Aurora Plastics was among 10 companies who received approval Monday for tax credits. Together, the tax credits are to help in creating 349 jobs.
Aurora Plastics was the only Akron-Canton area business to get an OK for a credit Monday.
Selman & Co., in Mayfield Heights, received a tax credit, with an estimated value of $99,544, related to an expansion in which it is expected to create 40 full-time jobs, generating $1.7 million in additional annual payroll. The company’s current annual payroll is $4.95 million. The tax credit is to be paid over five years.
Selman & Co. markets and administers insurance products to associations and groups such as the American Legion and the American Society of Interior Designers.
— Katie Byard