State Approves Tax Credit for Potential Trivium Expansion
YOUNGSTOWN, Ohio – The Ohio Tax Credit Authority approved a tax credit worth an estimated $725,000 to encourage Trivium Aluminum Packaging USA Corp. to add two production lines at its Performance Place plant.
The 1.522%, eight-year tax credit would support the retention of 394 positions paying $32.7 million and the addition of 93 positions over the next two years generating nearly $6.2 million in annual payroll, according to state documents issued following the state panel’s meeting Monday.
“Trivium has been an outstanding employer and continues to offer great opportunities for the citizens of Youngstown,” Mayor Jamael Tito Brown said. “This possible expansion will help further the growth of the City of Youngstown. I look forward to our continued partnership.”
Ohio is competing with New York and Virginia for the proposed expansion project, which is being driven by growing demand in the aerosol and beverage markets.
“The collaborative effort with the City of Youngstown, Youngstown/Warren Regional Chamber, ODOD, JobsOhio, and Team NEO provided us the incentives and resources needed to help us make the decision for moving forward with expanding in the Northeast Ohio Region versus other locations outside of Ohio,” Matt Bobbey, Trivium Packaging chief financial officer – Americas, said.
“Matt Bobbey, Michael Wood and the entire team at Trivium Packaging run an exceptional operation and simultaneously serve as great community stewards,” Guy Coviello, president and CEO of the Youngstown/Warren Regional Chamber said. “We commend their commitment to the Valley, as well as our partners who helped to carry this investment across the finish line: Mayor Tito Brown’s office and the city of Youngstown, Team NEO and JobsOhio.”
“Along with our local partners, ODOD, and JobsOhio, we welcome Trivium Packaging’s plans to grow and invest in the Northeast Ohio Region,” added Bill Koehler, Team NEO chief executive officer. “As one of the country’s top ten food processing regions, we are confident our workforce, resources, and accessibility to key markets will support their continued growth here.”
Published by The Business Journal, Youngstown, Ohio.