TWINSBURG — Council has approved tax incentive agreements with Spectrum Diversified Designs LLC and Scratch Off Systems Inc. under the Twinsburg Occupancy Program, pacts that could bring a combined 58 full-time jobs and $1.8 million in payroll to the city.
The TOP allows owners or leasers of properties which have been vacant, and where the owner or leaser will bring jobs to the community, to apply for annual grants.
Spectrum Designs currently is located in Streetsboro, and plans to sign a three-year lease for a 130,000-square-foot building at 9300 Dutton Drive.
According to Director of Planning and Community Development Larry Finch, the company will bring 25 full-time jobs, a $500,000 payroll and add 25 full-time jobs with an additional $250,000 payroll within three years.
The firm says the total new investment would be about $790,000, including $350,000 for building improvements, $430,000 for machinery and equipment and $10,000 for furniture and fixtures.
Finch said the total grant amount paid to the firm by the city would be about $15,000, or 50 percent of the increased payroll withholding taxes collected from employees of the firm from Jan. 1, 2019 to Dec. 31, 2021.
The Dutton Drive building formerly housed a window manufacturer, which relocated to Valley View.
The second agreement to provide tax incentives under the TOP was approved for Scratch Off Systems Inc. for a 30,000-square-foot vacant building at 2459 Edison Boulevard.
Finch said the company will move from Brecksville, bringing 28 employees and an annual payroll of about $1.3 million. Company officials say they hope to add nine jobs and about $250,000 in payroll over the next five years.
If the additional jobs are added, the firm would stand to receive about $42,500 as its grant.
Spectrum Diversified Designs provides a range of products for storage and organization, including plate and wine racks, coasters, dorm and desktop products, magazine racks, bathroom fittings, kitchen accessories, hooks, closet organizers and wire baskets.
Scratch Off Systems makes various types of pressure sensitive labels and print production pieces.
“We are always looking to fill up vacant industrial buildings and bring new jobs to the city,” said Finch. “That’s what the Twinsburg Occupancy Program is all about.”
Reporter Ken Lahmers can be reached at 330-541-9400, ext. 4189 or email@example.com.