TWINSBURG — A company plans to move its 137 full-time jobs from Twinsburg Township to the city, and will build a $15 million to $20 million facility from the ground up just north of CVS/Pharmacy on Darrow Road south.
The city is addressing legislation that would issue a tax abatement under the city’s Community Reinvestment Area program to Pepperl+Fuchs Inc. for the 50,000 square foot facility, according to Director of Planning and Community Development Larry Finch.
"We are happy to see another employer bring substantial jobs to the city," Finch said. "The city will benefit in the long run, and the firm will continue to operate not far away from its current location."
The industrial sensor manufacturer is currently located on Enterprise Parkway in Twinsburg Township. The CRA agreement also involves P+F Realty Inc., owner of the vacant property.
Finch said the firm will bring a payroll of $9.7 million, which translates into an additional $187,000 per year in income taxes for the city. The 50 percent property tax abatement on the new building is expected to save the firm about $150,000 a year for 12 years.
The resolution being considered by Council says the Twinsburg City School District and Cuyahoga Valley Career Center have been notified of the proposed agreement, and the proposed abatement is in compliance with a revenue sharing agreement with the school district.
In addition, Finch said O’Reilly Auto Parts has moved a trailer onto the property in Cornerstone Business Park where it is constructing a large warehouse, and will begin interviewing for jobs soon.
Finch said the firm plans to have office staffers in place by June, and warehouse operations under way by late fall. The firm plans to bring about 350 jobs to the city. Its facility is along Chamberlin Road on the back portion of the industrial park.
Meanwhile, Council adopted resolutions continuing several agreements under the CRA and Twinsburg Occupancy Program, but terminated two agreements.
National Enterprise Systems’ TOP agreement and Ganzhorn Properties / Mustang Dynamometer’s CRA agreement were terminated because the firms did not live up to job and investment commitments.
Finch said National Enterprise Systems initially brought about 50 jobs to the city, but has moved about half of them away. He said Ganzhorn / Mustang Dynamometer added to its building, but then reduced its workforce.
The terminations and continuations of CRA and TOP agreements were recommended by the city’s Tax Incentive Review Commission at its March 19 meeting.
CRA agreements which will continue are for FFR / DSI, Cellco / Verizon, LUR / Richter & Associates, Vistar / PFP, Western Reserve Wire Products, Twinsburg Industrial Properties / Fed Ex, Twinsburg Industrial / Spec Building and Omega / Amazon.
TOP agreements which will continue are for FFR / DSI, Cellco / Verizon, Windstream, American Bottling, HC Cos. (Myers), Lianda Corp., Professional Plastics, Keystone Components and Freedom USA / AVA Direct.
Tax incentives under the CRA program are granted for companies that build new facilities in town, while TOP agreements are granted for firms occupying vacant industrial buildings.
Reporter Ken Lahmers can be reached at 330-541-9400, ext. 4189 or email@example.com.