State tax break will help Youngstown company move to Cleveland area
Youngstown’s loss is Cuyahoga County’s gain thanks to some help from a tax incentive awarded to a local clean energy company that’s pulling up stakes and moving to a Cleveland suburb.
The Ohio Tax Credit Authority confirmed on Tuesday that Solar FlexRack will end its current lease at Innovation Place off Salt Springs Road and move its full-time employees to a larger facility in Highland Hills.
According to the Tax Credit Authority, a 1.698%, eight-year Job Creation Tax Credit will allow Solar FlexRack to create 45 full-time positions at the new location, creating $4.15 million in new annual payroll and retaining $3 million in existing payroll.
The company sells custom-designed, fixed tilt ground mount and single-axis tracking systems for solar panels used in commercial and utility-scale industries.
The Tax Credit Authority issued a statement saying in part:
“This project was competitive with other states and allows the company to continue to grow and create jobs in Northeast Ohio.”
21 News left a message seeking information with Solar FlexRack seeking information about the status of its current Youngstown workforce and is waiting for a reply.