General Motors Co. received an Ohio tax credit Monday that will let the company retain more than 1,300 full-time employees at its Defiance Foundry.
The Ohio Tax Credit Authority approved a 10-year, 50 percent tax credit worth $14 million that enables GM to keep its $74.8 million in annual payroll at the plant. The company is required to maintain operations in Defiance through 2023 in exchange for the credit.
GM expects to spend $177 million to expand the facility for new engine assembly operations.
