breaking news

House releases Democrats’ rebuttal to GOP memo on alleged government surveillance abuses

Honda supplier gets $300K tax credit to bring 85 jobs to Springfield


A Japanese auto parts supplier is one step closer to creating 85 new jobs and taking over a Springfield industrial park after receiving tax credits valued at about $300,000 on Monday.

Members of the Ohio Tax Credit Authority voted unanimously Monday to approve a 1.217-percent, seven-year tax credit for the Topre America Corp., which has pledged to take over Springfield’s Champion City Business Park.

Topre plans to invest $55 million and create at least 85 jobs, with the expectation more workers could be added over the next several years. The 85 jobs the company has pledged to bring to Springfield would generate an estimated payroll of more than $3.4 million, according to state documents.

RELATED:Honda supplier to add 85 jobs, invest $55M in Springfield plant

City leaders are also expected to offer an incentive package, although details haven’t been finalized, said Tom Franzen, assistant city manager and director of economic development. Springfield City School District board members also need to approve any potential agreement, but it’s possible city commissioners could review a proposal as early as May 9, Franzen said.

The incentives are important in part because Springfield competed with sites in New York and Pennsylvania for the project, said Horton Hobbs, vice president of economic development for the Chamber of Greater Springfield.

“We had to be very competitive and thankfully we were,” Hobbs said.

READ MORE: Honda to invest $124M for new wind tunnel in East Liberty

The state’s incentives will begin in 2019 and expire in 2025. The Job Creation Tax Credit is performance-based, so the estimated value assumes the company meets its job creation and payroll commitments. Topre wouldn’t receive the incentives if it falls short on those measures.

The incentives would allow the company to claim a 1.2-percent credit on Ohio employee payroll related to the new jobs created, said Lisa Colbert, a spokeswoman for the Ohio Development Services Agency. Businesses still pay 100 percent of their withholding taxes.

As part of the agreement, Topre would be required to maintain its operations in Springfield for at least 10 years, according the state. The manufacturer didn’t respond to requests for comment on Monday.

DETAILS: Topre plant in Springfield to bring new life, jobs to historic site

SOCIAL MEDIA: Follow this reporter on social media

Topre specializes in stamping and producing high-strength steel, which is in demand as automakers work to produce vehicles that are strong enough to withstand crashes but light enough to improve fuel efficiency. The company initially announced plans in December last year to create 20 jobs as part of a project to manufacture parts for the Acura MDX in Springfield.

But the manufacturer quickly secured additional work. Just weeks ago, company leaders announced the initial $10 million investment had grown into a $55 million deal to create 85 jobs in a 146,000 square-foot facility.

Topre’s plant will go on a roughly 30-acre industrial site that once housed an International Harvester/Navistar factory until it closed in 2002. The business park was completed in 2013 after a decade of cleaning up industrial contaminants and improving infrastructure.

RELATED:Honda supplier may be expanding its investment in Springfield

“It’s key to activate a long-idle site,” Franzen said of the business park. “It’s been over 15 years since that neighborhood has seen this kind of activity. We’re excited about bringing those job opportunities to that area of town and the community.”

Company and local economic development officials are now working to finalize details about the company’s investment, Hobbs said. The company is also finalizing building design plans, and construction activity is expected to begin at Champion City as early as May.



Reader Comments ...


Next Up in Business

Mercy Health merger: Facts and figures to know about the company
Mercy Health merger: Facts and figures to know about the company

Mercy Health, the largest health system in Ohio and one of the largest employers in the state, has announced it intends to merge with Bon Secours Health System, an East Coast-based health network. The merger will create one of largest health networks in the nation when the deal is finalized. Here are facts and figures about the company to keep in mind...
New jobs, new stores and closings rocked local retail this week
New jobs, new stores and closings rocked local retail this week

Consumers are spending big in 2018. An improving economy kept January retail sales nearly as good as the holiday season’s strong showing. The National Retail Federation announced sales increased 5.4 percent in January compared to last year at the same time. READ MORE Bon-Ton Stores Inc., parent company of Elder-Beerman, is starting going-out-of-business...
Dayton web curating company gets Silicon Valley shoutout
Dayton web curating company gets Silicon Valley shoutout

If you have worthwhile content, a sizable social media following and the vision to monetize all of that, then Arielle Jordan would like a word with you. Jordan, of Miamisburg, is the creator of Curafied, a new Internet platform that enables users to place what they believe is expert, valuable content behind a paywall for publication in a user-friendly...
Should you talk about your pay? Career experts weigh in
Should you talk about your pay? Career experts weigh in

Even with nearly every cultural taboo thrown to the wind− from discussing sexual orientation to politics; one last conversational taboo still exist among Americans − how much we get paid. "These days, it's okay to talk about the troubles we're having with our children or even our marriages," noted one blogger from PayScale...
Kroger exec: No plans for downtown Dayton store right now
Kroger exec: No plans for downtown Dayton store right now

Amazon’s purchase of Whole Foods has waged a full-out war between grocers — signifying an upcoming transformation of the grocery shopping game in major markets across the U.S., including the Southwest Ohio region. The Dayton Daily News asked Tim Brown, president of Kroger’s Cincinnati/Dayton division, what local customers can...
More Stories