Two Lancaster businesses to bring nearly 70 jobs to the county
March 2, 2012 by Mark
Tax credits were recently approved by the Ohio Tax Credit Authority for two Ohio companies that plan to bring nearly 70 jobs to lancaster and the surrounding area. B. Hubbard Enterprises and Manifold & Phalor Inc. hope to bring jobs to the area over the next couple of years.
B. Hubbard Enterprises, an Oklahoma-based company since 2005, has roots in Lancaster, as original company ownership is from the area. The company builds portable drilling rigs and other heavy-duty rigs for the oil and gas industry, and will be relocating to Lancaster. Mike Hubbard, executive vice president for B. Hubbard, said that they are happy to be coming home. The company will be located on Quarry Road in the old Pugh building. They hope to hire approximately 40 people over the next three years. The company received tax credit approval for a seven-year job creation plan at 40 percent.
The other company receiving tax credit approval on February 29 was Manifold & Phalor Inc. The company is planning an expansion project located at the Canal Point Industrial Park. As part of that project, Manifold & Phalor intend to create at least 30 jobs over the course of the next 3 years. The tax credit approval was for a five-year job creation plan at 40 percent.
When businesses relocate to an area, such as locally owned B. Hubbard Enterprises, local print companies are often called upon to provide a variety of printing services, such as business card printing or stationery printing. Company expansion projects, such as Manifold & Phalor’s expansion plans, may also have a need for printing services as changes within the company structureor branding occur. The introduction of new businesses and job creation to the area may mean a boost in business for local Lancaster printing companies as well.