Germany's Röchling Group will expand its Glastic Composites LP subsidiary in South Euclid, Ohio, creating 26 new full-time positions.
The Glastic Composites business is part of Röchling's industrial division. The company is more known for its work in the auto supply industry.
The Ohio Tax Credit Authority approved a 1.2%, six-year credit for an expansion project expected to generate $1.2 million in new annual payroll. The company will also retain $6m (€5.3m) in existing payroll as a result of the project.
Röchling's Glastic Composites business produces semi-finished and machined parts along with compression molded and assembled parts.
The Ohio Tax Credit Authority, a five-member independent board consisting of taxation and economic development professionals, is responsible for reviewing and approving applications for tax credit assistance. It also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects.