Tuesday, February 26th, 2013
Ferguson nets tax credit for new Celina facility
By Shelley Grieshop
CELINA - Plumbing supply giant Ferguson on Monday was tapped for a 45 percent state tax credit for its proposed business east of the city.
The company was one of seven across the state approved for tax breaks by the Ohio Tax Credit Authority.
The eight-year tax credit hinges on Ferguson's creation of a $1.7 million annual payroll within three years. Other terms of the deal require the company to maintain operations at the new site for at least 11 years.
Ferguson expects to create 70 full-time jobs when the company opens a 400,000-square-foot facility at the corner of state Route 29 and Harris Road.
Mercer County Economic Development Director Jared Ebbing was in attendance at the Ohio TCA meeting with JobsOhio when the tax credit was announced. It brings the project one step closer, he said.
"We are very much looking forward to welcoming Ferguson Enterprises to this area as we believe this is a great company addition for the region as a whole," Ebbing said.
A timeline for construction has not been released.
Ferguson, founded in 1953, boasts $9.7 billion in annual sales. The company is considered the largest U.S. distributor of plumbing supplies and pipe, valves and fittings. It is the third largest distributor of heating and cooling equipment and the second largest company within the waterworks industry.
Ferguson is headquartered in Newport News, Va., and has 11 other distribution centers and 300 showrooms in the U.S.