The credit, estimated at $112,000 during the term, was awarded as a result of the company’s expansion at the Clark County location. It would require operations at the project site for 11 years.
Seepex is part of a global organization that develops, manufactures and globally markets progressive cavity pumps for delivering viscous, aggressive and abrasive media, according to the DOD. The more than $7 million expansion project is expected to create 38 new jobs and retain 69 positions.
The company is also considering investing at an existing site in China, according to the Greater Springfield Chamber of Commerce.
Also on Monday, JM Consolidated Industries LLC was approved for a 45 percent, $64,000 tax credit during six years for a more than $1.5 million relocation and consolidation in the city of Springfield, according to the state release.
The Lawrenceburg, Tenn.-based JM Consolidated Industries registered the fictitious name Muncy Corp. at 2601 Enon Road, Enon. The company would be required to maintain operations at the project site for nine years.
JM Consolidated Industries focuses on window regulators for the heavy truck and specialty vehicle industries, according to the DOD. The project is expected to create 50 jobs and retain 46 positions. JM Consolidated Industries is also considering a Tennessee site for the project, the Chamber said.
Seepex Inc. and JM Consolidated Industries LLC officials could not be reached for comment. Both companies are expected to make their site selection in April or May.
“Our competition is not just in the U.S. — it’s global,” said David Zak, vice president of economic development for the Chamber. “The local and state partners have been working very hard to attract these projects, and we will continue to do everything we can to make our community the best place for this growth.”