Tax credit helps GBQ bring jobs to Cincinnati

Another month, another job-creating tax credit for an accounting firm in Ohio.

The Ohio Tax Credit Authority on Monday approved a 2.128 percent, seven-year tax credit for GBQ Holdings LLC to create 20 full-time jobs generating $1.5 million in new annual payroll while retaining $1.4 million in existing payroll in the city of Cincinnati. The tax credit is estimated to be worth $230,000.

The authority last month approved a tax credit for BDO USA, LLP to open a 400-employee shared business services center in Columbus.

In the GBQ deal, Ohio was reportedly competing with Indiana and Pennsylvania for the project, which will expand the company’s services and service area.