Governor DeWine Announces New Manufacturing Company Investment of Nearly $8 Million in Coshocton

COLUMBUS, Ohio - Ohio Governor Mike DeWine, Lt. Governor Jim Tressel, and Ohio Department of Development Director Lydia Mihalik today announced the approval of a project in Coshocton that will create 89 new jobs.  

During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed the following economic development proposal brought to the board by JobsOhio and its regional partners.  

Fox Tank Company expects to create 89 full-time-equivalent positions, generating nearly $7.4 million in new annual payroll as a result of the company’s new location project in Coshocton. The company is a manufacturer of steel storage tanks and ASME-certified pressure vessels for the oil and gas industry. Fox Tank is acquiring assets from a recently closed company and relocating its manufacturing operations closer to the region’s shale, expanding Fox Tank’s presence and capabilities in the industry. TCA approved a 1.48 percent, eight-year Job Creation Tax Credit for the project. 

The Job Creation Tax Credit is a performance-based credit. The actual values of the credits are based on the jobs that are ultimately created and the new payroll that’s generated, which will be subject to state verification.???