Oct. 31—The Ohio Tax Credit Authority agreed Monday to a tax credit with an estimated value of $71.3 million to boost a new Honda electric vehicle (EV) battery plant near Dayton.

The Tax Credit Authority approved a 1.871%, 30-year job creation tax credit to fuel plans that state leaders believe will create more than 2,500 new Honda jobs.

Honda's planned EV battery plant, to be built with LG Energy Solution, will employ an expected 2,200 workers, Honda and the state said in announcements earlier this month. Existing Honda plants in Marysville, East Liberty and Anna are to be retooled for EV production at those sites, creating an additional 300 new jobs.

The state said Monday it expects Honda to create 2,527 full-time positions, generating $117.6 million in new annual payroll and retaining $578.7 million in existing payroll.

Honda's credit means for that 30 years, Honda can claim a 1.871% credit on new Ohio payroll related to the project location. That has an estimated value of more than $71 million, according to the state.

The authority also approved incentives for Enable Injections Inc., a business planning to create 257 full-time positions, generating $19.8 million in new annual payroll and retaining $20.3 million in existing payroll, as a result of the company's expected expansion in three communities — Franklin in Warren County, West Chester Township in Butler County and Evendale in Hamilton County.

Enable Injection's credit has an estimated value of $3.25 million, the state said.

Honda's EV battery plant will located near U.S. 35 and Interstate 71 in Jefferson Township, in Fayette County. The automaker also plans to prepare plants in Union County, Logan County and Shelby County for EV production.

Honda leaders have said production of internal combustion engine automobiles is expected to continue for some time.

Enable Injections is a Cincinnati company developing and manufacturing investigational wearable drug delivery systems. As the company describes its work, Enable Injections' "enFuse" product is a drug delivery technology designed to subcutaneously deliver medicine to treat diseases.

That product is based on research conducted by Cincinnati Children's Hospital Medical Center, the state said. The authority approved a 2.009%, 10-year job creation tax credit for the project.

In total Monday, the Tax Credit Authority approved credits for projects state officials believe will create 3,104 new jobs while retaining 8,216 jobs statewide.

Companies receiving the credits are required to annually report jobs, payroll, and investment to the Ohio Department of Development. They report this information for the term of the agreement, plus three additional years, the state says.