RYAN SCOTT OTTNEY
PDT Staff Writer
WAVERLY — Hadsell Chemical Processing in the Pike County has been awarded a 45 percent, seven-year Job Creation Tax Credit from the Ohio Tax Credit Authority. The company expects to create 35 new full-time positions; generating $1 million in additional annual payroll, and retaining $290,000 in existing payroll, in Waverly.
Hadsell Chemical Processing provides a production facility for chemical manufacturers looking to introduce new products on a pilot scale into the market.
According to the Ohio Department of Development’s website, the Ohio Job Creation Tax Credit Program was established in 1993. It provides a refundable tax credit against a company’s corporate franchise, or income tax, based on the state income tax withheld from new, full-time employees. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects.
A spokesperson from Hadsell Chemical Processing was unavailable to comment on Wednesday.
For more information about Hadsell Chemical Processing, find them online at www.hadsellchemical.com.
Ryan Scott Ottney can be reached at 740-353-3101, ext. 235, or firstname.lastname@example.org.