BEACHWOOD, Ohio—State tax credits will aid the expansions of Northeast Ohio-based Omnova Solutions Inc., a chemicals company that will contribute to the growth of jobs in the region.
On Monday, May 23, the Ohio Tax Credit Authority approved incentives for the Beachwood, Ohio, company—along with Boston Retail Products Inc., a producer of shelving and retail fixtures based in Youngstown, Ohio.
Omnova expects to create 43 full-time positions and $4.7 million in annual payroll by Dec. 31, 2024. The company is a subsidiary of Synthomer P.L.C., a British polymer supplier that acquired Omnova in early 2020.
According to project notes provided by the Ohio Department of Development, Synthomer is seeking a home for an adhesive resins division.