BDC Management Group, LLC (BDC), to be located in Richfield (Summit County), has been awarded a 45 percent credit for a five-year term to consolidate operations. The value of the tax credit is estimated at $545,136 over the term, and the company would be required to maintain operations at the project site for 10 years.

BDC was founded in 2005 by a group of automotive and business professionals to offer the automotive industry expertise in advertising, sales processes, e-commerce, professional development, market integration, sales training, and management coaching. The company's services provide automotive dealers and manufacturers the ability to capture and retain the highest percentage of market share available. BDC employs 26 people at its current location in Strongsville (Cuyahoga County).

The company proposes to purchase machinery and equipment and lease an existing building to accommodate the company's planned growth. The company will lease a 10,000 square foot facility that will be used to operate a full-service business development center to serve auto dealerships throughout the United States. Ohio is in competition with Minnesota and Utah for this $426,000 project, which is expected to create 200 jobs and retain 26 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. The Job Retention Tax Credit provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs.

The Ohio Tax Credit Authority is a five-member independent board consisting of taxation and economic development professionals from throughout the State that is responsible for reviewing and approving applications for state tax credit assistance. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects.

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