Arizona-based StandardAero Component Services Inc., one of the largest “maintenance, repair and overhaul providers” in the aerospace industry, plans to expand its operations at its facility in the Cincinnati suburb of Sharonville, the Dayton Business Journal reports. The company will add 120 new jobs and make a fixed asset investment of $10.5 million for new equipment and machinery to increase its operational capacity, according to the article. StandardAero “expects the new jobs would generate more than $5.2 million in annual payroll”; the company currently employs 465 people. The Ohio Tax Credit Authority approved a “1.26 percent, six-year job creation tax credit” based on new payroll; as part of that agreement, “the authority requires StandardAero to maintain operations at this project location for at least nine years.” Sharonville’s director of economic development, Chris Xeil Lyons, said keeping StandardAero in the city “further diversifies our economy and strengthens it, too.” For more read the full article.