Two Cleveland-area technology companies — Zin Technologies Inc. and Axuall Inc. — were approved on Monday for state job-creation tax credits worth $2.7 million for creating 200 full-time jobs.
Ohio's job-creation tax credits are potential tax credits based on a company's performance to create jobs and generate new payroll taxes, as verified, said Todd Walker, a spokesman for the Ohio Development Department, in an email.
Zin Technologies
The Middleburg Heights company, which provides engineering services and product development solutions to NASA and other organizations, was approved for an estimated $1.8 million in tax credits for creating 125 jobs, according to the Ohio Department of Development.
Zin is expanding because it recently became a founding member of George Washington Carver Science Park, the first U.S. science park in space, said Team NEO, the economic development organization in Cleveland, in a statement.
The science park will reside on Starlab, the commercial space station, Zin said at its website. Ohio State University in Columbus also is a founding member of the science park, Team NEO said.
Created by NASA Glenn Research Center in Cleveland, Zin Technologies has been providing space science facilities for NASA and operating them in orbit since 2001, Team NEO said.
Zin also develops and operates space science systems to commercialize technologies used on earth and systems to make high-value materials in low Earth orbit for private industry, said the company's chief operating officer, Carlos Grodsinsky, in Team NEO's statement.
Axuall
The digital professional identity network and analytics platform was approved for tax credits valued at $890,000 for creating 75 full-time jobs at its startup project in Cleveland, the development department said.
Founded by serial tech and big-data entrepreneur Charlie Lougheed, Axuall has created technology that enables health care systems, staffing firms, telehealth and health plans to reduce onboarding and enrollment time while providing data insights for network planning, analytics and reporting.
Axuall plans to expand its Cleveland office and hire software engineers and other professionals to accommodate anticipated rapid growth as hospitals adopt its health care technology, the Ohio Development Department said.
One of Cleveland Inno's Startups to Watch in 2022, Axuall has raised nearly $14 million in venture funding since 2019, Team NEO said.
"We are delighted to partner with Axuall as they continue to advance the digital transformation of workforce intelligence and provide opportunities to attract and retain tech talent in Cleveland," said Cleveland Mayor Justin Bibb in Team NEO's statement.
Northeast Ohio is a "perfect match" for startup Axuall because of the strength of its healthcare system and innovation ecosystem, said Bill Koehler, Team NEO’s chief executive officer, in his organization's statement.
