Ongoing Miamisburg’s economic development incentives the past two years have helped create or keep 442 jobs and $35.5 million in annual payroll, according to the city.
For 2016, that translates into a $2.40 return for every $1 spent by the city, Miamisburg Development Director Chris Fine said.
“Really economic development and income taxes – overall – are the engine of everything we’re doing,” Miamisburg City Manager Keith Johnson said.
Next year, the city is projecting to improve slightly on its investment, spending $857,400 in collecting $2.06 million in income taxes, records show.
Part of that may come from an agreement with a West Carrollton company. The city is offering Production Design Services Inc. incentives to move to 80 jobs with plans to add 25 more.
The city plans to offer PDSI up to a $200,000 forgivable loan to move from Fame Road to a larger, yet-to-be-built facility off Byers Road, records show.
The company provides automated equipment, robotic systems, special machines and tooling, according to its website.
It has about 60,000 square feet in West Carrollton, but plans to build a 100,000 square foot site on 19 acres on Technical Drive in the Interstate Tech Park along Byers Road, Miamisburg records show.
PDSI’s annual payroll is about $4.5 million, records show. Adding 25 positions within three years would increase its payroll to at least $6.5 million, according to Miamisburg records.
The Miamisburg City Council is expected to approve the package tonight. Should it move, the city estimates PDSI would provide about $145,000 annually in income taxes.
“Businesses looking to come into a community, they look at a couple of things,” Miamisburg Mayor Dick Church, Jr. said. “First of all, the lifestyle of the community, the school system and the events that are being held in a community, parks
It could join United Grinding of North America in generating more income taxes for the city. United Grinding plans to build a $13 million continental headquarters near the Interstate 75 Austin Boulevard interchange.
The Miamisburg company opted for that site over several other states and area locations to build a 100,000 square foot site that will house 140 employees after it moves jobs that pay $90,000 a year on average from Virginia as it consolidates operations.
The city has agreed to finance an access road from Byers Road to the site on about 15 acres just north of Yaskawa Motoman Robotics. In exchange, United Grinding has agreed to boost its payroll to more than $12 million.
Motoman, a global robotics manufacturer, has been involved in an incentive package since 2012, Fine said. The city agreed to give the company $750,000 during an eight-year period.
The company committed to $16.5 million in payroll at the time of the agreement. That is more than $370,000 per year in income taxes, according to the city.
The manufacturer employs more than 300 and “they are outperforming those numbers currently,” Fine said in an email.
Part of this year’s tax collections also involved the package with Evenflo, Fine said.
The infant care products maker decided to keep about 130 jobs at its 225 Byers Road site with a plan to add about 20 more. The city agreed to a $400,000 forgivable loan for keeping Evenflo, which agreed to boost payroll about $1.6 million a year.