Company to Create 60 New Jobs Here
Source – Strongsville.org | March 19, 2014
A Strongsville firm says it will expand with 60 new jobs – and $6 million in additional payroll – by 2018.
Acuative Corp., formerly Telesource Corp., 8237 Dow Circle, committed to creating the new full-time jobs to receive a Job/Payroll Incentive Grant from the city.
“Acuative has been a great partner within our community and we look forward to their continued growth ,” Economic Development Director Brent Painter said.
The grant repays 25 or 30 percent of the company’s new payroll taxes for a number of years, depending on how much new payroll is created. Acuative will receive the grant for three years; a company adding 150 new jobs with $20 million in new payroll could receive the incentive for up to eight years.
Acuative is an IT network integrator that provides nationwide installation, maintenance and managed network services for voice, data and video networking.
Painter said grant programs like this one are being created in communities throughout the area to replace the Enterprise Zone program, which awarded property tax abatements to attract new firms. That program no longer lures in companies because the state has phased out personal property taxes.
Strongsville’s program is unique in that it requires a new payroll of $6 million before it will offer the incentive, while other communities have a much lower – or no – payroll minimum.
Painter said Strongsville is targeting large companies with significant growth potential.
Because state law prohibits using tax dollars to fund the grants, Strongsville will use interest income and fees from building permits and other services.