by Eric Marotta
News Leader Editor
Hudson -- A company Macedonia had hoped to keep from leaving town has been granted an incentive to move by the state.
The Ohio Department of Development awarded Norandex Distribution Inc. a five-year, 45 percent credit on state income taxes to relocate and expand operations in Hudson.
Macedonia had asked the state to not grant the credit in hopes of keeping the company's 75 jobs in town, according to city officials.
According to an April 28 department of development press release, Ohio is in competition with Pennsylvania for the relocation of the company's Macedonia headquarters on South Bedford Road. With the tax credit, the company plans to move to the former Dairy Mart headquarters on Executive Parkway West off Boston Mills Road in Hudson.
According to the release, the value of the tax credit is estimated at $59,686 over five years, and the company would be required to maintain operations at the Hudson site for 10 years.
The "job creation tax credit" would be for state income tax withheld on new, full-time employees. According to the department, the company is expected to create 10 positions and retain 75 jobs within the first three years of the deal.
Hudson has prepared an incentive package of its own to attract the firm, offering a job creation tax rebate of 50 percent of the city's income tax back to the company for eight years, equaling about $400,000.
Hudson also is offering an infrastructure assessment grant totaling $145,000 over five years, to pay for a new water line for the property,
Hudson City Council is expected to vote on the package May 7.
"They gave away the farm," said Macedonia Finance Director Steven Brunot, adding the state had offered Norandex tax breaks worth $200,000 to stay in Macedonia in an agreement that expired earlier this year.
Jody Roberts, Hudson economic development and communications director, said the city was approached by Norandex and did what it could to keep the firm from moving out of state.
According to the department of development, Norandex specializes in the distribution of exterior siding, accents, windows and doors. The company has 1,312 employees worldwide.
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