High-tech aerospace company to revive dormant site, bring 250 jobs to Dayton
30 Jan 2020
A high-tech manufacturer is preparing to nearly triple in size, adding 250 new high-skilled jobs after acquiring a 60-acre Miami Twp. site.
A deal aided by state and local tax incentives will help Cornerstone Research Group Inc. renovate an empty manufacturing building at 8821 Washington Church Road as part of a $10 million expansion.
The rapidly growing company that moved from Beavercreek Twp. to Miamisburg in 2017 is “actively hiring” with plans in June to start moving some activities to the new site, where the new jobs will have an average annual salary of $60,000, officials have said.
“This property will be instrumental in our expansion plans,” Cornerstone CEO Patrick Hood said in a company statement released after it acquired the land Tuesday.
“Our team has developed several new technology platforms rapidly reaching maturity and will require space for both production and added business staff,” he added. “This property has the space to expand our development and production capacity as well as plenty of acreage to build out a campus to support additional growth.”
The $10 million investment includes the land purchase, improvements and equipment, according to the company.
CRG Vice President of Strategic Development Chris Hemmelgarn said “multiple technology products progressing toward procurement” is helping to push the company’s expansion.
Cornerstone’s growth plans has been aided by state and local funding. In October, the Ohio Tax Credit Authority approved a nine-year tax credit valued at $2.5 million for the expansion.
As part of the tax credit agreement, the state requires Cornerstone to maintain operations at the project site for at least 12 years.
The township helped the company get $200,000 in a Montgomery County Economic Development/Government Equity grant as an incentive to operate within our borders.
Miami Twp. Trustee John Morris said county funding helps “all areas in the community bring and attract businesses and help them grow and thrive” and those dollars “help us expand our services and jobs in our community.”
For the full article, visit the Dayton Daily News: https://www.daytondailynews.com/news/local/defense-firm-adding-250-jobs-actively-hiring-after-land-buy/lYSD2wOhc38LoxhAqXcnsJ/