COLUMBUS, Ohio - The company promising to create 1,570 new full-time jobs in the Valley has received state approval for a tax break.

The Ohio Tax Credit Authority on Monday approved a 1.637 percent, fifteen-year Job Creation Tax Credit for Lordstown Motors Corporation.

LMC told development officials that the project will generate $91 million in new annual payroll from the company’s start-up project in Lordstown.

The company plans to make electric-powered pickup trucks inside part of the former General Motors Assembly Plant.