BEAVERCREEK — The Ohio Tax Credit Authority approved a 1.772 percent – seven-year tax credit on Monday, Aug. 29 to Frontier Technology Corporation for the creation of $4,075,000 in new annual payroll as a result of the company’s expansion project in the City of Beavercreek.
As part of the tax credit agreement, the OTC Authority requires the company to maintain operations at the project location for at least 10 years.
Frontier Technology integrates system engineering and operations research methodologies with information technology solutions for its customers. The company also develops and supports customized software and provides studies and analysis for the US Department of Defense and aerospace market.
The company is growing and can choose to expand at either its California headquarters or in the Dayton region. The company is also considering moving its headquarters to the Dayton region. Jobs will be at risk if the company decides to move forward with the proposed project in California.
The proposed project in the City of Beavercreek involves building a Sensitive Compartmented Information Facility (SCIF). The company’s fixed asset investment would be towards leasehold improvements and new machinery-equipment.
Frontier Technology expects to create 45 full-time equivalent employees generating $4,075,000 in new annual payroll and to retain $2,468,638 in existing payroll by Dec. 31, 2019 at the project location. In addition, the company will claim the tax credit on Ohio employee payroll generated at the project location in excess of the company’s baseline payroll at the project location.
According to the State of Ohio press release, by letter dated July 29, 2016, the City of Beavercreek has expressed support for the proposed project.
Story courtesy of the State of Ohio.