Hey Pickerington, you paying attention???
CANAL WINCHESTER - A company that makes plastic fasteners and other parts for major automotive companies is expanding, a move that company officials say will create 15 jobs.
Nifco America Corp. will invest $1.2 million into renovating part of its facility and buying state-of-the-art computer and software equipment for its research and development department. The number of design and development engineers in that department will go from 15 to 30.
The average wage for design and development engineers is $24 per hour, said Rickey Blankenship, training coordinator for Nifco America Corp.
Investing in the research and development department will allow the company to stay competitive and manufacture an improved product, Blankenship said.
''Hiring research and development people could lead to many more jobs - who knows,'' Blankenship said.
Nifco America is a Japanese auto parts supplier. The company makes plastic fasteners that ''couple'' parts together, making up 90 percent of its business. The company also manufactures cup holders, molding garnishes that go around vehicle TVs and DVD players, and fuel chambers - better known as gas tanks.
The company's top three customers are Honda, Nissan and Toyota.
Nifco America built a 124,000-square-foot facility in Canal Point Industry and Commerce Park in 2000. The company relocated its corporate offices from Groveport to Canal Point last year, expanding the facility by another 39,000 square feet.
One-third of the facility will undergo renovations for the research and development expansion in addition to the purchase of computer hardware and software and training and development of new engineers.
The project shows the company's stability in the Canal Winchester and Fairfield County area, said Fairfield County Economic Development Director David Zak.
''By choosing to do their research and development here, they're strategically saying that Fairfield County is the place where they want to design and develop their products,'' Zak said. ''This is a major deal. We've been working on this for three months now.''
Negotiations with the state, county and village officials began in November 2005.
The Ohio Tax Credit Authority approved a 50 percent, five-year Job Creation Tax Credit for Nifco worth $75,000 Monday. The Ohio Department of Development also is offering the company a $15,000 training grant. A Community Reinvestment Area tax exemption on the property improvement will mean a savings of $123,000 over the next 15 years.
Obtaining incentives was critical for the project to move forward, Blankenship said.
''We have a global economy. One price fits all,'' Blankenship said. ''So we're competing with other branches of Nifco for this. We can take this back to our parent company in Japan and say, 'Look, we can do research and development right here' (in Canal Winchester).''
Originally published January 31, 2006
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CANAL WINCHESTER - A company that makes plastic fasteners and other parts for major automotive companies is expanding, a move that company officials say will create 15 jobs.
Nifco America Corp. will invest $1.2 million into renovating part of its facility and buying state-of-the-art computer and software equipment for its research and development department. The number of design and development engineers in that department will go from 15 to 30.
The average wage for design and development engineers is $24 per hour, said Rickey Blankenship, training coordinator for Nifco America Corp.
Investing in the research and development department will allow the company to stay competitive and manufacture an improved product, Blankenship said.
''Hiring research and development people could lead to many more jobs - who knows,'' Blankenship said.
Nifco America is a Japanese auto parts supplier. The company makes plastic fasteners that ''couple'' parts together, making up 90 percent of its business. The company also manufactures cup holders, molding garnishes that go around vehicle TVs and DVD players, and fuel chambers - better known as gas tanks.
The company's top three customers are Honda, Nissan and Toyota.
Nifco America built a 124,000-square-foot facility in Canal Point Industry and Commerce Park in 2000. The company relocated its corporate offices from Groveport to Canal Point last year, expanding the facility by another 39,000 square feet.
One-third of the facility will undergo renovations for the research and development expansion in addition to the purchase of computer hardware and software and training and development of new engineers.
The project shows the company's stability in the Canal Winchester and Fairfield County area, said Fairfield County Economic Development Director David Zak.
''By choosing to do their research and development here, they're strategically saying that Fairfield County is the place where they want to design and develop their products,'' Zak said. ''This is a major deal. We've been working on this for three months now.''
Negotiations with the state, county and village officials began in November 2005.
The Ohio Tax Credit Authority approved a 50 percent, five-year Job Creation Tax Credit for Nifco worth $75,000 Monday. The Ohio Department of Development also is offering the company a $15,000 training grant. A Community Reinvestment Area tax exemption on the property improvement will mean a savings of $123,000 over the next 15 years.
Obtaining incentives was critical for the project to move forward, Blankenship said.
''We have a global economy. One price fits all,'' Blankenship said. ''So we're competing with other branches of Nifco for this. We can take this back to our parent company in Japan and say, 'Look, we can do research and development right here' (in Canal Winchester).''
Originally published January 31, 2006
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