Ohio’s Tax Credit Authority has green-lit a job creation tax credit for Cohen & Company that will help the Cleveland-based financial advisory services firm expand its northeast Ohio offices, including Youngstown, where more than half of the new jobs will be based.
Also Monday, the state gave LG Chem America, Inc. a similar tax credit for a proposed manufacturing and research development center in Ravenna in Portage County.
Cohen & Company plans to create 61 new jobs with an annual payroll of $6.4 million at its offices in Cleveland, Akron and Youngstown to support clients and company offices across the U.S. The 1.5 percent credit is for six years and is worth an estimated $500,000.
More than 30 of the new jobs are planned for the Youngstown office, said Chris Bellamy, Cohen & Company president.
“We’re focused on doubling the size of of our office there,” Bellamy said. The growth will happen over the…