GKN Sinter Metals Invests $10 Million To Expand Its Gallipolis, Ohio, Manufacturing Center
05/31/2013
The 175,000-square-foot facility currently has more than 160 employees and produces gears, clutch pressure plates and torque-converter components for a variety of customers, including Chrysler, General Motors, EXEDY, LuK USA and Allison Transmission.
Matt Daniels, plant manager, said the project is expected to generate up to $20 million in additional sales for the company over the next two to three years. "The untiring support that we've received from the community and all levels of government has made this program possible," Daniels said. "We are eager to install this new equipment and to begin production based on the new technology that's been developed here in Gallipolis."
GKN Sinter Metals received tax credits and development grants valued at nearly $800,000 to assist with the Gallipolis project from various state and local agencies. In addition, the State of Ohio awarded GKN a Job Creation Tax Credit and an Economic Development Grant with a combined worth of $380,000.
The Southern Ohio Agricultural and Community Development Foundation also provided the company with a $350,000 development grant. Local incentives included a City of Gallipolis Job Creation Tax Credit and a Gallia County Community Improvement Corporation Economic Development Grant with a total value of $60,000.
John Molinaro, president and CEO of the Appalachian Partnership for Economic Growth, added, " We have worked hard to improve the business climate in Ohio to ensure that investments like the one GKN has announced both make good economic sense for the company and promote the prosperity of the community, region and state. GKN's investment is a testament to their trust that Gallipolis and Appalachian Ohio provide a profitable operating environment, quality workforce and welcoming attitude."
County Commissioner Harold Montgomery said, "We are extremely pleased that GKN chose to expand in Gallia County. These are good jobs and much needed for our area. In the spirit of cooperation, we are pleased to see the state, county, city and CIC work together for one common cause to retain and create job opportunities in Gallia County."
Project Announcements
Piramal Pharma Solutions Expands Lexington, Kentucky, Operations
10/04/2024
G&H Decoys Plans Corning, Arkansas, Headquarters-Manufacturing Operations
10/04/2024
Britain-Based Ultimate Defense Technologies Establishes Billings, Montana, Operations
10/04/2024
Google Plans Dorchester County, South Carolina, Data Center Operations
10/04/2024
Sirius Analysis Plans Virginia Beach, Virginia, Headquarters
10/04/2024
South Korea-Based ILJIN Plans Auburn, Alabama, Manufacturing Operations
10/04/2024
Most Read
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Cold Storage: The Next Big Thing in Industrial Real Estate
Q3 2024
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Challenge of Securing Sufficient Electrical Power for Battery Cell Plants
Q3 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Semiconductors’ Fragile Relationship With Water May Be Tested
Q3 2024