Companies Invest in Buckeye State

Finally some good business investment news in Ohio.

Givaudan Flavors Corp. and Think3 Inc. both have received tax incentive packages from the Ohio Tax Credit Authority. Givaudan, a Switzerland-based developer of flavors and fragrances used in everything from soup and sauces to ice cream and beverages, received a 60 percent tax credit over a 10-year term to expand local operations.

According to a news release from the Ohio Department of Development, Givaudan plans to expand its research and development capabilities and buy machinery and equipment. Ohio was in competition with Kentucky for the $15 million project, which is expected to create 29 jobs within the first three years of operation.

Think3 Inc., a Pleasanton, Calif.-based developer of product lifecycle management software, is moving its corporate headquarters to an 8,000-square-foot office in downtown Cincinnati. Think3 is receiving a 75 percent tax credit for a six-year term. Ohio was in competition with Illinois for the $365,000 project, which is expected to create 45 jobs within the first three years of operations.

Source: Business Courier, Aug. 26, 2003