Bolstered by Economic Incentives, Infinity Labs Announces the Selection of Formal Headquarters in Dayton, Ohio
Infinity proudly announces the selection of Dayton, OH as its corporate headquarters. With job growth of nearly 50 employees in less than two years and projections of 160 employees in the next three, Infinity plans to open a transformative research and development facility in the heart of Dayton’s innovation epicenter, the Downtown Arcade district.
To support the establishment of an Ohio-based headquarters, the state incentive package includes the approval and utilization of the Ohio Job Creation Tax Credit (JCTC). The performance-based tax credit has an estimated value of $3,000,000 over a term of nine years. According to Jobs Ohio, the value of the tax credit increases as the company increases its Ohio employee payroll under the project. Infinity worked with their regional economic development organization, the Dayton Development Coalition (DDC), for over a year to secure the credits in addition to several other incentives.
According to Jeff Hoagland, President and CEO of the DDC, “at less than two years old, Infinity Labsdemonstrates the maturity level of a large, seasoned company.” Hoagland went on to say, “we witnessed Infinity’s success early-on. They were our 2020 Entrepreneurial Start-up of the Year and continue to impact the regional
community with their culture, commitment to their employees and customers, and their bold vision for the Dayton community.”
Chris Kershner, Dayton Area Chamber of Commerce President, and CEO, commented on the chamber’s advocacy for their business partners saying, “we work hard for what’s best for our chamber businesses. If that means making phone calls and having conversations in the best interest of the business, that’s what we’re going to do. We were engaged early and often with the Infinity team and advocated on their behalf with state agencies on several occasions.”
Jobs Ohio President and CEO, J.P. Nauseef, discussed Infinity’s alignment with state priorities saying, “Infinity Labs is an agile defense and tech company that is a value-add to our Military and Federal Strategy and we look forward to their continued success and growth after choosing Ohio and the Dayton region as their headquarters.”
Infinity Labs CEO, Dr. Ken Edge, echoed Nauseef’s sentiments stating, “Ohio’s commitment to technology company growth and expansion is at the forefront of this project. While we are growing in several other states, Ohio prioritized our workforce expansion in a way that other states should note. This is as much a compliment to the state’s economic and workforce development professionals as it is a recognition of Ohio as the Silicon Heartland.”
In addition to those organizations already mentioned in this release, Infinity Labs would also like to thank the following groups/companies for their collaboration and partnership:
∞ The Ohio Department of Development
∞ The City of Dayton
∞ Montgomery County Economic Development Office
∞ The Dayton Delegation of the Ohio General Assembly
Infinity Labs is an innovation-focused firm based in Dayton, Ohio that fosters an entrepreneurial mindset to solve our world’s hardest problems.
