Rieter Automotive North America, Inc. (Rieter), located in Oregon (Lucas County), has been awarded a 40 percent tax credit for a seven-year term to expand its manufacturing facility. The value of the tax credit is estimated at $220,888 over the term, and the company would be required to maintain operations at the project site for 14 years.

Rieter was founded in Switzerland in 1795 and is a leading supplier of products and services for the textile, automotive and plastics industries. Rieter is comprised of two divisions; Rieter Textile Systems develops and produces machinery and integrated systems for converting fibers and plastics into yarns, non-wovens, and pellets. In partnership with automotive manufacturers, Rieter Automotive Systems, the second division, develops and produces components, modules, and integrated systems on the basis of fibers, plastics, and metals in order to provide acoustic comfort and thermal insulation in motor vehicles.

The company proposes to expand existing operations with the renovation of its 150,000 square-foot building, construction of a 4,000 square-foot addition to the building, and the purchase a new manufacturing line for installation. The renovated facility will be used to manufacture fiber padding and floor carpet/insulator assemblies for Tier 1 suppliers in the automotive industry.

Ohio is in competition with another state for this $6 million project, which is expected to create 80 jobs and retain 155 positions within the first three years of the project's initial operations.

The Job Creation Tax Credit is a refundable tax credit against the business corporate franchise or income tax. The credit equals a percentage of new state income tax withheld on new, full-time employees in Ohio.

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