Yesterday in West Chester, Ohio, Intelligrated executives officially accepted $24 million in financial incentives from the Ohio Department of Development.
Hours before the event, MHM reported that the area newspaper, The Cincinnati Enquirer, expected the company to announce a $13 million expansion.
Ohio Governor Ted Strickland was present at the acceptance event, which took place at Intelligrated’s manufacturing facility.
Company executives expect the incentives to accelerate Intelligrated’s three-year project to integrate the operations of recently acquired FKI Logistex and expand its facilities in West Chester, London and Mason, Ohio. Intelligrated will retain 537 full-time positions and create 267 new jobs in Ohio over those three years, the company says.
The incentives provide low-interest research and development investment loans and Ohio enterprise bond fund loans to the Butler County Port Authority. The funding will support costs associated with the acquisition of a 282,000-square foot manufacturing facility in West Chester that will be leased to Intelligrated. Intelligrated also received an Ohio job creation tax credit to support the project in Butler County as well as expansions in Mason and London. The company is required to maintain operations at the project site for 13 years.
Another project earmarked in the funding is the integration and upgrade of the FKI Logistex and Intelligrated enterprise resource planning systems to enhance productivity and order management.
“Intelligrated deeply appreciates Ohio’s generous commitment to our company, our employees and our industry,” says Chris Cole, CEO of Intelligrated. “The incentive package sends a message of the importance of retaining high-quality manufacturing jobs in the state. It also underscores the strategic role of Intelligrated’s world-class material handling solutions to Ohio’s plan of becoming the premier international gateway and logistics hub in North America. Intelligrated, Governor Ted Strickland, the Ohio Department of Development, Senator Widener, the City of London, Madison County, the City of Mason, the Township of West Chester and the Ironworkers Shopmens Local 522 union have worked together to make this initiative possible.”
“We want to thank Intelligrated for their investment in Ohio and for their dedication to strengthening the material handling and logistics industries in our state,” adds Governor Strickland.
The company’s commitment is contingent upon final approval from the State Controlling Board and Intelligrated’s review of implementation requirements.
Related:
Ohio Governor to Visit Intelligrated Facility for Joint Announcement
Ohio Governor Ted Strickland and Lisa Patt-McDaniel, director of the Ohio Department of Development, are scheduled to visit the Intelligrated facility in West Chester, Ohio, this afternoon to make a joint announcement with CEO Christopher C. Cole and the Intelligrated executive team.
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