breaking news

Springfield cardiologist, wife to plead guilty in healthcare fraud case

Springfield approves $1.2M in incentives for high-tech manufacturer


An Ohio manufacturer that will bring 400 much-needed high-tech jobs to Springfield will receive up to about $1.2 million in incentives from the city.

Silfex Inc., based in Eaton, builds silicon components for a several industries, including everything from computer processors to cell phones to cars. It has pledged to invest $223 million here in the next few years. It recently purchased the former Thirty-One Gifts plant at 1000 Titus Road near the PrimeOhio Industrial Park for $11 million.

MORE: Manufacturer adding 400 jobs seeks up to $1.2M in Springfield tax deal

“This is on the cutting edge of what’s going on in the U.S. economy these days,” Mayor Warren Copeland said. “We’re excited to have them here.”

Springfield city commissioners approved the tax deal Tuesday night.

The company looked at sites in four states when it started the project but chose Springfield because of its skilled workforce, said Kit Armstrong, general manager of Silfex, a division of Lam Research. The company was founded in Preble County before it was purchased by Lam Research.

“We’re an Ohio company,” he said. “We love the people here and it’s great to continue to expand in Ohio.”

MORE: Silfex picks Springfield for 400 new jobs due to labor market

The city will also spend about $215,000 to purchase the property next to the plant on Titus Road as part of the tax incentive agreement, according to public records obtained by the Springfield News-Sun. Silfex has no immediate plans for the adjoining property, but wanted to secure it to minimize any chance of others developing around their site, officials said.

The deal calls for the city to give back to the manufacturer 40 percent of the local income taxes paid by Silfex, based on the number of employees hired annually. The city’s incentives, including the property purchase, could provide Silfex a total of about $1.2 million between 2019 and 2023 if it hires 400 employees as early as 2019.

Company leaders have previously said annual payroll locally would be about $20.7 million. Pay will vary depending on the job duties but will average about $53,000 a year, including benefits.

The Ohio Tax Credit Authority also has approved a 12-year incentive package for the company that will provide a 2-percent credit on state payroll taxes, which could be worth up to $5 million if all requirements are met.

MORE GOVERNMENT: Clark County employees will see health care cost increase in 2018

The company plans to conduct most of its hiring locally throughout next year and begin production at the Titus Road plant in the first quarter of 2019. A second phase, in which the company ramps up its silicon crystal growing operation in Springfield, would likely begin in 2020.

The industry is changing rapidly and the demand for the product grows exponentially each year, Armstrong said, meaning the company is constantly evaluating its growth plans.

“We’ll continue to keep everyone updated on the project as we get closer to opening,” he said.

CITY COMMISSION ELECTION PREVIEWS

4 Springfield residents to vie for 3 city commission seats

Incumbent Chilton wants to be voice for all of Springfield

Ex Springfield Superintendent Estrop sees jobs as critical to rebound

Martin wants Springfield to end drug crisis, bring more jobs

Rue wants to reverse population loss, make Springfield more attractive



Reader Comments ...


Next Up in Business

Uber to deliver ‘flying burgers’ by drone as soon as 2021
Uber to deliver ‘flying burgers’ by drone as soon as 2021

Uber could be delivering your food by drone in just a few years. The Wall Street Journal reported that Uber was looking hire a drone expert “enable safe, legal, efficient and scaleable flight operations.” The report claimed drones could deliver food in just three years. Uber chief executive Dara Khosrowshahi publicly said at a conference...
The Sanderson sisters are back! Where to watch Hocus Pocus at local theaters
The Sanderson sisters are back! Where to watch Hocus Pocus at local theaters

The Sanderson sisters are back. To celebrate the 25th anniversary of the iconic movie “Hocus Pocus,” some local theaters are screening the flick for the Halloween season. AMC is bringing back the classic to theaters from Oct. 26 to 31, and tickets are just $5. To see participating theaters and purchase tickets, click here. AMC has...
Kroger’s fruit, vegetables will look ugly next year: Here’s why
Kroger’s fruit, vegetables will look ugly next year: Here’s why

Kroger’s produce is about to get a little ugly. The grocer plans to introduce its “ugly produce” brand in stores in early 2019. Pickuliar Picks are “imperfect but perfectly delicious” produce that go unused because of an ugly appearance or size. The produce is perfectly acceptable for human consumption. Kroger officials...
Turning military inventions into golden opportunities
Turning military inventions into golden opportunities

Military innovations are often the perfect launching pad for commercial businesses far outside military base fences. For that reason, Nicholas Ripplinger, founder of Dayton’s Battle Sight Technologies, doesn’t see TechLink as just another program. Neither does Timothy Shaw, president and chief operating officer of Riverside’s GlobalFlyte...
Recalled toilet flushing device has caused $710K in property damage, 23 injuries
Recalled toilet flushing device has caused $710K in property damage, 23 injuries

A dangerous toilet flushing device, baby carriers, and wireless chargers are among the latest recalls announced by the Consumer Product Safety Commission.  An accessory that turns your toilet into a high efficiency flusher is under recall by Flushmate.  More than one million Flushmate II 501-B pressure-assisted flushing systems manufactured...
More Stories