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Tax break approved for Lordstown Motors
LMC told development officials that the project will generate $91 million in new annual payroll.
Monday, December 7th 2020, 11:59 AM EST
Updated:
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.
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