A longtime Springfield business is considering a new facility and jobs in Cincinnati after receiving approval for a tax credit for expansion from the Ohio Tax Credit Authority.

A longtime Springfield business is considering a new facility and jobs in Cincinnati after receiving approval for a tax credit for expansion from the Ohio Tax Credit Authority.

The Benjamin Steel Company Inc., originally founded in Springfield in 1935, recently received approval from the Ohio Tax Credit Authority for a 40 percent, six-year tax credit to create about $1.5 million in new payroll in Cincinnati. Officials from the company and city said there is no finalized plan in place.

State development records provided by the Ohio Development Services Agency indicate the company is considering an expansion that would create 40 full-time jobs in Cincinnati within three years of the tax credit’s effective date.

On its website, the company is described as a “steel service center delivering steel products and processing solutions to customers in Ohio and surrounding states.”

“The proposed project in the city of Cincinnati involves expanding into a new steel production segment,” the state documents show. “The company’s fixed asset investment would be towards new machinery/equipment.”

If the agreement moves forward, the company would be required to maintain operations at the Cincinnati location for at least nine years. Along with its corporate offices in Springfield, the company also has locations in Lima, Mansfield and Dayton.

The company has strong roots in Springfield and is committed to the area, said Teresa Demana, director of communications for the company, located in Prime Ohio Corporate Park near the junction of Ohio 41 and Interstate 70.

Demana said while the approval of the tax credits are good news for the company, no finalized plans are in place.

“As a family owned business for more than 75 years, one strategy Benjamin Steel has used to ensure continued success is a commitment to growth,” Demana said. “This strategy has been in place for many years, it has been successful for us in the past, and we believe it remains our best avenue for success.”

The company has not provided much information about the proposal, said Dan Bower, a development officer with the city of Cincinnati. The city is offering job creation tax credits similar to the state, Bower said, and is competing with other sites in Kentucky and Tennessee for the potential project.

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