Mining company may move to South PointPublished 10:14am Tuesday, December 11, 2012
At least 75 new full-time jobs could be created with the relocation of divisions of Minova USA Inc. to The Point industrial park.
The Australian company, with American headquarters in Georgetown, Ky., makes roof bolts and other support systems for the mining industry. Currently Minova has a Lawrence County operation in Proctorville, which, if it moves to The Point, will bring an existing payroll of $2.2 million. There are also operations in Virginia and the northern part of the state. The new jobs could generate an additional $2 million dollars in payroll.
On Monday Gov. John Kasich announced that the Ohio Tax Credit Authority approved a 45 percent, six-year Job Creation Tax Credit for the project. That means for six years the state will credit back to the company 45 percent of the income tax it receives from Minova employees to give the firm money for completing the project.
“This was a very important step in the overall process of putting an appropriate package and deal together to assist this company in merging operations from Virginia and northern Ohio with existing operations in this county to develop a larger workforce in this region,” Dr. Bill Dingus, director of the Lawrence Economic Development Corp., said.
“The 75 new jobs are very important to us and Minova is proven to be a great employee in Lawrence County. However this deal is not finalized. This is one of the important steps and should not be misconstrued as completed. Work continues in the planning process in an effort to bring this entire package together.”
Dingus declined to provide details of the proposed package.
The Proctorville operation was started in the eastern end of the county as Earl’s Products.