The company also was recommended for a $2 million direct loan
International Technical Coatings of Phoenix plans to
however establish a 667,000-square-foot plant in Columbus to house the company's Eastern steel-wire drawings and manufacturing operations. The location has not been announced. The project is valued at nearly $15million
The tax credit, worth about $270,000, would last seven years and require the company to maintain operations at the site for 10 years.According to the Ohio Department of Development, the tax credit helped the company choose Columbus over locations in Indiana, Kentucky, Michigan and Pennsylvania.
The company also was recommended for a $2 million direct loan and more than $3 million from the Ohio Enterprise Bond Fund to help buy and renovate a building for the company's manufacturing facility.The State Controlling Board must sign off on the loans.
