Investment and Development in Coshocton, Ohio

Overview of the New Project

A significant investment of nearly $8 million is planned for a new Fox Tank Company location in Coshocton, Ohio, approximately one hour from Columbus. This development aligns with multiple Sustainable Development Goals (SDGs), including SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation, and Infrastructure).

Job Creation and Economic Impact

1. Creation of 89 full-time equivalent positions, supporting SDG 8 by promoting sustained, inclusive economic growth and productive employment.
2. Generation of nearly $7.4 million in new annual payroll, contributing to improved economic well-being in the region.

Company Operations and Industry Focus

• Fox Tank Company specializes in manufacturing steel storage tanks and ASME-certified pressure vessels, primarily serving the oil and gas industry.
• The company is relocating operations closer to the regional shale resources, enhancing industrial efficiency and supporting SDG 9.
• Acquisition of assets from a recently closed company ensures resource optimization and continuity of industrial activity.

Government Support and Incentives

The Ohio Tax Credit Authority has approved a Job Creation Tax Credit of 1.48% over eight years for this project. This incentive encourages sustainable economic development and aligns with SDG 17 (Partnerships for the Goals) by fostering collaboration between the public and private sectors.

1. Sustainable Development Goals (SDGs) Addressed or Connected to the Issues Highlighted in the Article

1. SDG 8: Decent Work and Economic Growth
   • The article discusses job creation (89 full-time equivalent positions) and economic investment ($8 million), which directly relate to promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.
2. SDG 9: Industry, Innovation, and Infrastructure
   • The development of a manufacturing facility producing steel storage tanks and pressure vessels supports building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
3. SDG 7: Affordable and Clean Energy (Indirectly)
   • Since the company manufactures equipment for the oil and gas industry, there is an indirect connection to energy production and infrastructure, although the article does not mention clean energy explicitly.

2. Specific Targets Under Those SDGs Identified Based on the Article’s Content

1. SDG 8 Targets
   • Target 8.5: Achieve full and productive employment and decent work for all women and men, including young people and persons with disabilities, and equal pay for work of equal value.
   • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
2. SDG 9 Targets
   • Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product.
   • Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies.
3. SDG 7 Targets (Indirect)
   • Target 7.a: Enhance international cooperation to facilitate access to clean energy research and technology.

3. Indicators Mentioned or Implied in the Article to Measure Progress Towards the Identified Targets

1. For SDG 8
   • Number of full-time equivalent jobs created (89 positions) — relates to employment generation and productivity.
   • Annual payroll amount ($7.4 million) — can be used as a proxy for decent work and economic growth.
   • Job Creation Tax Credit approval — indicates government support for employment growth.
2. For SDG 9
   • Investment amount ($8 million) — reflects industrial development and infrastructure investment.
   • Manufacturing of steel storage tanks and ASME-certified pressure vessels — indicates industrial output and compliance with standards.
3. For SDG 7 (Indirect)
   • Production of equipment for the oil and gas industry — implies energy infrastructure development, though no direct clean energy indicators are mentioned.

4. Table of SDGs, Targets, and Indicators

Source: spectrumnews1.com